Toyota Subsidiary Hino Motors Unveils Motorcoach with SPD-Smart Windows at the Tokyo Motor Show

At the 40th Tokyo Motor Show 2007, Hino Motors, Ltd., a subsidary
of Toyota Motor Corporation, is featuring a new concept motorcoach
with windows using Research Frontiers' patented SPD-Smart
light-control technology. The S'elega Premium, with its variable tint
SPD "smart" windows, was shown earlier today at a press briefing by
senior executives of Hino Motors at the Tokyo Motor Show where members
of the media were able to experience the benefits of smart windows
while sitting in Hino Motors' top-of-the-line S'elega Premium luxury
tour bus on display at the show.

SPD-Smart automotive windows allow vehicle occupants to instantly,
precisely and uniformly control the amount of sunlight, glare and heat
passing through the windows, sunroofs and other glazings. They also
block more than 99% of harmful UV radiation.

The S'elega Premium, which has five large SPD-Smart window panels
totaling over 11 square meters of glass (more than 36 square feet) on
the side of the motorcoach, is featured in a promotional video from
Hino and can be seen and experienced at the Tokyo Auto Show through
November 11, 2007.

SPD light-control technology is protected by over 500 patents and
patent applications held by Research Frontiers Inc., the developer and
licensor of the technology used in these instantly dimmable windows.
The SPD-Smart windows for the S'elega Premium concept vehicle were
produced and supplied by Asahi Glass Company, a licensee of Research
Frontiers.

The S'elega Premium is a sleek, modern touring coach with five
extremely large and elegantly curved glass panels on its sides. With
the touch of a button, the windows go from up to six to eight times
darker than a dark conventional automotive window film to
approximately as clear as a standard automotive windshield - all in
just seconds. The SPD-SmartGlass laminated windows on the S'elega
Premium are curved and are approximately 1.1 meters (43.4 inches) tall
and most are over 2 meters (81 inches) wide.

These windows are the largest and most optically clear variable
tint smart windows ever seen in an automotive vehicle. They allow
instant and precise control of how much light, glare and heat pass
through the windows, thus creating greater passenger comfort and a
more satisfying traveling experience. Other benefits include noise
reduction, greater security for both privacy and structural integrity,
and the protection of interiors and occupants from heat and harmful
ultraviolet radiation. In the tour bus environment, SPD-Smart windows
also permit the tour guide to selectively reveal scenery during the
tour, thus adding a new and exhilarating dynamic to the travel
experience.

The Tokyo Motor Show is one of the world's premier automotive
shows, attracting over 1.5 million visitors. Visit
www.tokyo-motorshow.com for more information about the show.

For more information, visit Research Frontiers' website at
www.SmartGlass.com.

About SPD Technology and Research Frontiers Incorporated

Research Frontiers Incorporated (Nasdaq: REFR) develops and
licenses suspended particle device (SPD) technology used in
VaryFast(TM) SPD-Smart controllable glass and plastic products. SPD
technology, made possible by a flexible light-control film invented by
Research Frontiers, allows the user to instantly and precisely control
the shading of glass or plastic, either manually or automatically. SPD
technology product applications include: SPD-Smart windows, sunshades,
skylights and interior partitions for homes and buildings; automotive
windows, sunroofs, sunvisors, sunshades, and mirrors; aircraft and
marine windows and window shades; eyewear products; and flat panel
displays for electronic products.

SPD-Smart film technology was awarded a "Best of What's New Award"
from Popular Science magazine for home technology, received the 2007
North American Frost & Sullivan Award for Excellence in Technology for
glass, and was also recognized as one of the top technologies by the
Society of Automotive Engineers' Aerospace Engineering magazine. SPD
technology is covered by over 500 patents and patent applications held
by Research Frontiers worldwide. Currently 34 companies are licensed
to use Research Frontiers' patented SPD light-control technology in
emulsions, films, or end-products. Further information about SPD-Smart
technology, Research Frontiers and its licensees can be found at
www.SmartGlass.com.

Note: From time to time Research Frontiers may issue
forward-looking statements which involve risks and uncertainties. This
press release contains forward looking statements. Actual results
could differ and are not guaranteed. Any forward-looking statements
should be considered accordingly. SPD-Smart(TM), SPD-SmartGlass(TM),
SmartGlass(TM),VaryFast(TM), Powered by SPD(TM), The View of the
Future - Everywhere You Look(TM) and Visit SmartGlass.com - to change
your view of the world(TM) are trademarks of Research Frontiers
Incorporated.