Xyratex and Cambridge Display Technology partner; producing breakthrough LEP display technology to revolutionize consumer electronics; Xyratex and Cambridge Display Technology team to produce LEP which will eventually replace LEDs and LCDs in mobile phones, consumer electronics and PCs and TVs; technology is less expensive to produce and is physically flexible

Business Wire, March 26, 1996

HAVANT, England--(BUSINESS WIRE)--March 26, 1996--Two U.K. companies, Xyratex and Cambridge Display Technology (CDT), Tuesday announced a joint agreement to take CDT's pioneering Light Emitting Polymer (LEP) technology from the laboratory into full manufacturing production.

By working with Xyratex, CDT can further develop its technology and begin to embed it into consumer market applications that currently depend on Light Emitting Diodes (LEDs) or Liquid Crystal Displays (LCDs), such as mobile phones and personal digital assistants.

LEP And Its Applications

Unlike LCDs or plasma displays, which require thin film processing on two glass plates, LEPs can be fabricated on one sheet of glass or plastic, simplifying processing and reducing cost. The thin film constructed from LEPs offers unprecedented physical flexibility, for displays with unique shapes to be produced. This breakthrough technology is set to significantly change a wide range of consumer electronic products in the future.

The application potential for Light Emitting Polymers is immense. Essentially any product currently implementing LCD or LED technology can utilize LEP technology including mobile communications products, alpha-numeric and dot-matrix displays. Eventually, four-color graphic displays and virtual reality displays and headsets will also incorporate this technology. In addition, with LEP's unique physical flexibility, products with uncommon contours and bends can now be designed and produced.

Xyratex and CDT Join Forces

CDT and Xyratex are currently working together to build a business plan that maximizes the capabilities of each partner and includes developing a manufacturing facility. A pilot plant is currently planned for the end of 1997 and this should culminate in full manufacturing line production. The agreement focuses on integrating the core competencies of each company -- CDT in the development of leading edge technology, and Xyratex in the transfer of information technology products into high volume production.

"Xyratex is delighted to be involved at the outset in the development of LEP technology," said David Martin, Technical Director at Xyratex. "We have a history of technology leadership in a broad range of fields. This announcement confirms Xyratex's commitment to continuing that tradition. We believe that LEPs have a very bright future. Working together, Xyratex and CDT have a clear opportunity to become the LEP product and technology leaders."

"This is a great opportunity for both parties," explained Danny Chapchal, CEO at Cambridge Display Technology. "With CDT's technology and Xyratex's manufacturing expertise, we will accelerate the establishment of a production process and can begin to infiltrate the consumer electronics market in the next two years. The next step after that is for CDT to revolutionize the traditional cathode ray tube technology found in televisions and computer monitors."

LEP technology is likely to form a substantial portion of the global electronic display market, estimated by the Electronics Industry Association of Japan to reach $42 billion in the year 2000.

LEP Technology

CDT was founded after initial work at the Cavendish Laboratory in Cambridge led by Richard Friend and Andrew Holmes. They discovered that light emitting structures could be made from polymers as opposed to traditional semiconductors. LEP displays are constructed by applying a thin film of the light emitting polymer onto a glass or plastic substrate coated with a transparent, indium tin oxide electrode.

An aluminum electrode is sputtered or evaporated on top of the polymer. Application of an electric field between the two electrodes results in emission of light from the polymer. The technology combines the low voltage dc benefits of traditional LEDs with large area paternability associated with non-emissive display technologies such as LCDs. This provides a powerful technology base for building high information content displays.

About Xyratex

Xyratex is a major manufacturer of information storage products which it markets under its own name and manufactures under contract for major computer companies. Additionally, Xyratex produces networking equipment, test systems for disk drive manufacturers and provides IT consultancy. Xyratex was established as an independent company in December 1994 and has headquarters in Havant, England. It also has offices in San Jose and a development and manufacturing facility in Irvine, Calif.

About CDT

Based in Cambridge, CDT was founded by Cambridge University and a seed venture capitalist in 1992. CDT is leading research and commercial development into Light Emitting Polymers (LEPs). The company currently has 16 employees, 13 of whom are dedicated to research.

CONTACT: The Benjamin Group Inc.

Lisa Zwick, 714/753-0755

Internet: lzwick@oc.tbgi.com

OR

Xyratex

Val Russell, 9 1705 443135

Internet: v_russell@uk.xyratex.com