FLAT PANEL DISPLAY INDUSTRY'S FIRST INVESTMENT CONFERENCE ATTRACTS STRONG
TURNOUT

SAN JOSE, Calif., MARCH 7, 1995--Nearly 200 attendees, including analysts,
investors and others from the financial community, participated in the
first investment conference for the flat panel display (FPD) industry held
on March 1, 1995, in New York, N.Y. Co-sponsored by Needham and Co.,
United States Display Consortium (USDC), and Electronic Buyers' News, the
forum's purpose was to offer education about the FPD industry, and to
discuss its opportunities with the investment community.

Opening speaker Dr. Joseph Castellano, president and chief executive
officer of market research firm Stanford Resources (San Jose, Calif.),
presented market forecasts and trends. His summary and conclusions
projected the FPD component market to grow from $9.3 billion in 1994 to
$22.5 billion in 2001 and the world market for equipment for FPD
manufacturing to grow to $34 billion in 2001.

Next, Dr. Richard Van Atta, special assistant for the Dual Use Technology
Policy Under the assistant secretary of defense in the Pentagon, discussed
the U.S. government's role--the National Flat Panel Display Initiative.
This topic took on special significance in view of the recent cutbacks by
Congress in U.S.-funded technological programs. Dr. Van Atta pointed out
that the key element of the Dual Use Technology Policy is to encourage the
Department of Defense (DoD) to use commercial instead of "military-unique"
components wherever possible to meet defense needs in order to minimize
costs.

The government's Advanced Research Projects Agency (ARPA) plays a major
role in advancing display work. Dr. Van Atta stressed that its core R&D
must be sustained, both to develop a U.S. manufacturing infrastructure and
to capitalize on future opportunities. The DoD also seeks to support
technology through firms that demonstrate a goal to move into production
beyond R&D. Dr. Van Atta further emphasized the need for the industry to
inform the new Congress about the importance of U.S. government funding
for display work.

A series of panel discussions followed. The "U.S. Display Vendors in
Production" category involved Kopin, Three Five Systems, Planar, Plasmaco
and Polyvision; the "Displays--New Departures" category included Advanced
Technology Materials, Coloray, FED, Micron Technologies, Pixel, Sarif, SI
Diamond and Silicon Video; the "Components/Materials Infrastructure" was
represented by Brewer Science, Chips and Technologies and Supertex; and
equipment vendors discussing their latest achievements for FPD
applications comprised Applied Materials, Brooks Automation, Lam Research,
MRS Technology, Photon Dynamics, Plasmatherm and Watkins-Johnson.

The luncheon guest speaker, Richard T. Archambault, vice president of AT&T
High Resolution Technologies (Berkeley Heights, N.J.), discussed how flat
panel displays fit into the future of the information superhighway. After
presenting and reviewing the historical aspects and opportunities offered,
he summed up the topic in a simple sentence: "There can be no information
superhighway without a display capability to see what's on it!" The rest
of the afternoon featured breakout sessions by the presenting companies.

Looking ahead, USDC, Semiconductor Equipment & Materials International
(SEMI) and Society for Information Display (SID) will co-host Display
Works 96, an International display conference and exhibition to be held in
San Jose on February 6-8, 1996. For more information, contact USDC, (408)
277-2400; SEMI, (415) 964-5111; or SID, (714) 545-1526.

About the investment conference sponsors:

Needham & Company, Inc. is an investment bank that serves emerging growth
companies and institutional investors. As a full-service investment bank,
the firm offers corporate finance, investment analysis, trading and sales
services. Byron Walker is managing director for the semiconductor capital
equipment sector, as well as flat panel displays.

U.S. Display Consortium is an industry-led, public/private partnership
providing a common platform for flat panel display manufacturers and
developers, FPD users, and the supplier base. Headquartered in San Jose,
Calif., and with over 130 member companies, the consortium's mission is to
develop the U.S. infrastructure required to support a world-class U.S.
based manufacturing capability for high-definition displays.

Electronic Buyers' News, a CMP Publications business newspaper, is foremost
in covering the rapidly shifting global news of flat panel displays. EBN
has sponsored other FPD national conferences and conducted market research
analysis of trends in the industry.

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