-- CAMBRIDGE, United Kingdom, May 24 2007 -- Cambridge Display Technology (CDT) [Nasdaq: OLED], a pioneer in the development of polymer light emitting diode (P-OLED) technology, today announced that in collaboration with Thorn Lighting and the University of Durham, the Company has been awarded a £1.6million grant by the UK Department of Trade and Industry-led Technology Programme.  The grant will part fund a three year project to develop solution processable organic materials and device architectures suitable for large area white lighting applications.  The total project cost is £3.3million.

Under terms of the grant, CDT through its Sumation joint venture will provide materials, device architecture and testing, modelling, and technical input. The project is aimed at developing materials and devices for solid-state, high efficiency lighting applications based on CDT's patented P-OLED technology.  Light emitting polymer materials can be solution processed and offers the potential of low cost manufacturing for large lighting panels. Successful completion of this project will offer novel lighting products with environmental benefits.
Welcoming the project, Science and Innovation Minister, Malcolm Wicks said:
"The UK has a proud history of innovation in science and technology. We believe that we must work with industry to develop the marketable products and services of tomorrow, so that we can maintain our position as a leading global economy.

"That's why we're supporting this project to develop the potential of low cost manufacturing of large lighting panels. It provides a great opportunity to harness the UK's world-class expertise."

"The support of the Technology Programme on this project is greatly appreciated," said Dr David Fyfe, CEO of CDT. "It will allow us to make fast progress in improving our ability to develop inks and device technology, as well as expand the application of our P-OLED technology into the lighting market."

About CDT
Cambridge Display Technology is a pioneer in the development of light emitting polymers (P-OLEDs) and their use in a wide range of electronic display products used for information management, communications and entertainment. P-OLEDs are part of the family of organic light emitting diodes, or OLEDs, which are thin, lightweight and power efficient devices that emit light when an electric current flows. P-OLEDs offer an enhanced visual experience and superior performance characteristics compared with other flat panel display technologies such as liquid crystal displays, and have the key advantage that they can be applied in solution using printing processes. Founded in 1992, the company is headquartered in Cambridge, UK and listed on the US NASDAQ National Market under the symbol 'OLED'.
More information on CDT can be found at:  www.cdtltd.co.uk

About the Technology Programme
The Technology Programme provides funding using two of the DTI's business support products: Collaborative Research & Development and Knowledge Transfer Networks. Over the period 2005-2008, £320 million in funding is being made available from DTI to businesses to support research and development in technology areas identified by the Government's Technology Strategy Board. This funding is increased by contributions from other Government Departments such as Defra (£30m), Regional Development Agencies and Devolved Administrations (£30m) and Research Councils (£26m).

The Programme is investing directly in new and emerging technologies and has been designed to help businesses work collaboratively with each other or with academic partners to develop technologies that will underpin products and services of the future.

In November 2006, DTI announced that, building on its success to date, the Technology Strategy Board would in 2007 become an Executive Non Departmental Public Body taking over responsibility for the delivery of the Technology Programme.

Since 2004, the Technology Programme has supported over 600 projects across 40 technology areas with a combined business and Government investment worth over £900m. 22 Knowledge Transfer Networks (KTNs) have also been established with funding of around £40m over 3 years. For further information: http://www.dti.gov.uk/innovation/technologystrategy.