July 31, 2007

Sumitomo Chemical to Acquire Cambridge Display Technology Inc.
Sumitomo Chemical today announced that it has entered into an agreement with Cambridge
Display Technology Inc. (CDT below) to acquire CDT as a wholly owned subsidiary. The plannedpurchase price is approximately US$ 285 million. Following the approval of the acquisition at a
meeting of CDT shareholders anticipated to be held in autumn of this year, Sumitomo Chemical
will pay CDT shareholders a consideration for the purchase of all outstanding shares of CDT stockand the company will become a wholly owned subsidiary of Sumitomo Chemical. In connection
with this transaction, major CDT shareholder Kelso & Company along with certain members ofCDT’s senior management and other shareholders holding cumulatively an approximate 43% of
CDT’s common stock have entered into agreements to vote all their shares in favor of thetransaction at their shareholders’ meeting.
Organic light emitting diode (OLED) displays exhibit fine resolution and high visibility, andbecause they are self-luminescent, are highly responsive and yield outstanding video images, andwith their low electrical consumption, also offer environmentally friendly performance. Polymer
OLEDs (P-OLEDs) are processable in solution and can therefore be applied using a printing
technique to form the luminescent substrate, making possible the highly productive manufacture oflarge-size panels at low cost. The market for P-OLEDs is expected to see rapid growth going
forward, primarily for use in next generation displays for large-screen televisions and in lighting
applications.
Sumitomo Chemical positions display materials as one of its core business areas, and while itcontinues to expand its liquid crystal display materials business, it is also concentrating its effortson the development of next-generation display materials with a particular focus on P-OLEDs.
Sumitomo Chemical’s development of P-OLEDs began in 1998. In 2001, Sumitomo Chemical andCDT Ltd. of Cambridge, England, the wholly owned subsidiary of CDT Inc., entered into atechnical assistance agreement, including technology licensing for light-emitting materials, and inMay 2002, Sumitomo Chemical made equity investment in CDT Ltd. to build a closer working
relationship for the commercialization of P-OLEDs. In November 2005, Sumitomo Chemical
established the joint venture SUMATION Co., Ltd. together with CDT, Ltd. for the development,
manufacture and sale of P-OLED materials. Through the combination of both companies’
technologies, materials performance has achieved remarkable advances, and is now approaching
the level of practical application.
CDT possesses a wealth of fundamental intellectual property related to OLED displays andmaterials, while Sumitomo Chemical possesses a broad range of state-of-the-art chemical
technologies and both companies possess highly skilled human resources as well as sophisticatedexpertise in materials development. This acquisition, integrating the two companies’ businessresources, will enable Sumitomo Chemical both to improve the performance of light-emitting
materials and OLED display-related materials and also to further accelerate the development ofcommercial technologies for the manufacture of OLED displays, serving its customers as a totalsolution provider to meet their diverse requirements from materials to processes. Moreover,
Sumitomo Chemical will step up its efforts on the early commercialization of P-OLED displays,
particularly large-screen, high-definition televisions, with a view to the possibility of alliances withdisplay manufacturers.

【Reference: CDT】
State of Incorporation

Delaware, USA (Nasdaq: OLED)

Operating baseCambridge, England

Established1999

Paid-in capital

US$ 285 million (as of Dec. 31, 2006)

Outstanding shares

21.6 million shares (as of July 31, 2007)

Sales

US$ 8 million (2006 full-year)

CEODr.

Employees

130 persons

David Fyfe