Cambridge, UK; November 27, 2001 - Leading ink jet technology innovator Xaar plc has won a prestigious Wall Street Journal European Innovation Award for its patented digital drop on demand piezo ink jet print technology. Xaar won one of the top accolades in the Wall Street Journal's 'Base Technologies' category out of a field of 220 leading high-tech companies. The Wall Street Journal Awards for technology and business innovation were established to honor European individuals, organizations and companies that have developed innovative new ideas, products, services or business methods that improve the quality of life or enhance productivity. Developed at its research and development facility in Cambridge, England, Xaar's patented piezoelectric ink jet printing technology is pushing back the boundaries of print flexibility and efficiency. Incorporated in advanced digital machines, ink jet has provided the ability to print onto any type of substrate, no matter how unusual, even or uneven. "We are extremely pleased to have received such acclaimed recognition for our innovative printhead technology," comments Jan Fineman, CEO. "Xaar is a growing organization at the forefront of technology and to have been placed alongside the leading global innovators is a real achievement." This announcement follows Xaar's recent statement that the company will be moving its UK manufacturing operation to Sweden, leaving its headquarters in Cambridge free to concentrate solely on the research and development of new innovations and techniques. "This recognition of our innovation can only support our recent decision to establish a dedicated facility for R&D, which will enable our engineers to devote more time and space to focus on this particular part of the business," Fineman concludes.