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Toppan Printing Invests $25 Million in E Ink

Press release from the issuing company

TOKYO, Japan and CAMBRIDGE, Mass. - February 4, 2002 - TOPPAN Printing Company, Ltd., the global market share leader for color filter arrays in the flat panel display industry, and E Ink Corporation, the leading developer and marketer of electronic ink technology for paper-like displays, today announced at a press conference in Tokyo a major investment in E Ink by TOPPAN and the significant expansion of their strategic partnership to commercialize electronic paper. Under terms of the partnership, TOPPAN will manufacture front plane laminate (FPL) products for E Ink's active matrix graphical displays business using electronic ink supplied by E Ink. TOPPAN also will become E Ink's distributor of the FPL product to Japan-based TFT display makers. Additionally, TOPPAN expands upon its initial May 2001 investment of $5 million in E Ink with an additional $25 million. "Our manufacturing and marketing strengths will help E Ink rapidly commercialize its electronic ink technology," said Mr. Hideaki Kawai, company director and division head of Corporate R&D at TOPPAN. "Our strategic partnership with E Ink is an excellent fit for TOPPAN, benefiting our interests in color filters, publishing markets and printing technologies. TOPPAN will not only be a stockholder in E Ink but will actively participate in bringing ePaper to the marketplace and creating applications for it." "Our expanded partnership with TOPPAN represents an extraordinary opportunity for E Ink," said Jim Iuliano, president and CEO of E Ink. "Our vision is to bring RadioPaper' and the concept of information anytime, anywhere, to the world. We are pleased that TOPPAN shares this vision. Given the magnitude of investment and scope of partnership, we expect TOPPAN to substantially strengthen our commercialization plans." TOPPAN and E Ink announced an agreement in May 2001 to collaborate on the development of a color filter electronic ink solution using color filter arrays. TOPPAN received exclusive global rights to manufacture and supply color filter arrays for electronic ink displays for a certain period of time in addition to investing $5 million in E Ink. The current deal expands their relationship in several areas, including various ePublishing and ePaper applications. "The relationship with TOPPAN represents a significant asset in the development of our business," said Dan Button, vice president of E Ink's High Resolution Graphical Displays Division. "Not only will it ensure a highly reliable supplier of product, but by collaborating on sales and marketing in Japan with TOPPAN, we expect to get to market quicker and achieve greater growth."