Welcome to Forth Dimension Displays

September 21, 2004

Leading Microdisplay Business Raises First-Round Funding of US $19 Million to Accelerate Growth

Fife, Scotland - CRLO Displays, a company formed jointly by Amadeus Capital and Doughty Hanson Technology Ventures, announced today that it has acquired the business of CRL Opto from Scipher plc. Concurrent with the acquisition, CRLO Displays has raised $19 million of funding from its owners.

CRLO is a world leader in the design, development and manufacture of silicon-based microdisplays that will be used in next-generation, high definition rear projection televisions (RPTVs). Using full colour, high-resolution F-LCOS (Ferroelectric Liquid Crystal on Silicon) technology, CRLO believes its products enable television manufacturers to produce high-quality, large screen television sets with superior picture quality at low prices.

The capital raised by CRLO will be used to accelerate the use of the company's technology in these large screen televisions and other projection products. Greg Truman becomes Managing Director of the new company and is joined on the Board by Barak Maoz of Amadeus Capital Partners and Soren Hein of Doughty Hanson Technology Ventures.

Greg Truman, Managing Director of CRLO Displays, said:

"This investment enables us to build on our expertise and patented technology. We are excited at the opportunity to bring disruptive products into a growing mass market such as flat screen television with the financial backing of leading European venture capital investors."

Barak Maoz of Amadeus Capital Partners Limited.

"Large screen TV is an exciting market that is expanding rapidly but is still limited by expensive technologies and high prices. Amadeus has been attracted by the CRLO team and the technology they developed because we believe that CRLO has the potential to make a real impact on cost and performance, and become a large, internationally-recognised and successful company."

Soren Hein of Doughty Hanson Technology Ventures.

"The Ferroelectric derivative of Liquid Crystal on Silicon has the potential to be a significant technology to deliver low-cost, high-performance flat screen TVs in the near future. Given the rapid adoption of flat screen TVs, this presents a major opportunity for CRLO."

End of news release

About Amadeus Capital - www.amadeuscapital.com

Amadeus invests venture capital in new technologies from offices in London and Cambridge, UK.

The firm has backed over 45 companies in the UK and continental Europe, covering computer hardware and software, mobile and fixed communications technologies and new media.

Investments include Cambridge Silicon Radio, producing single chip bluetooth radios for short range connections and recently floated on the London Stock Exchange, Optos, a manufacturer of laser retinal scanners and number one in this year's Techtrak 100, Valista, an electronic payments company, Solexa, developing ultra high speed gene sequencing machines and AePONA, a developer of standards-based software gateways for the telecoms industry.

Successful realisations from the Amadeus portfolio include Entropic, bought by Microsoft and Element-14, bought by Broadcom Corporation.

About Doughty Hanson Technology Ventures - www.doughtyhanson.com

Doughty Hanson Technology Ventures aims to help talented entrepreneurs in Europe to build world-class technology companies.

Founded in 2000, Doughty Hanson Technology Ventures is an early-stage, venture capital fund with $272 million under management.

The Fund is independently managed by a dedicated team of professionals with substantial personal experience in the technology and financial sectors.

The fund is focused on three sectors: software; communications technologies and semiconductors. To date, the fund has invested in 13 companies in the UK, Ireland, Benelux, France and Scandinavia.

Doughty Hanson & Co, one of Europe's largest independent private equity firms, has over $5 billion of funds under management through its private equity funds, its real estate fund and the technology ventures fund.