Exhibit 10.156


                  THIS  WARRANT AND THE SHARES  ISSUABLE  UPON  EXERCISE OF THIS
         WARRANT HAVE NOT BEEN  REGISTERED  UNDER THE SECURITIES ACT OF 1933, AS
         AMENDED  ("FEDERAL  ACT")  OR  THE  FLORIDA   SECURITIES  AND  INVESTOR
         PROTECTION  ACT,  AS  AMENDED   ("FLORIDA  ACT"),  AND  HAVE  NOT  BEEN
         REGISTERED UNDER ANY OTHER STATE SECURITIES LAW. THIS WARRANT HAS BEEN,
         AND ANY SHARES ISSUED UPON  EXERCISE OF THIS WARRANT WILL BE,  ACQUIRED
         FOR  INVESTMENT  AND MAY NOT BE OFFERED  FOR SALE,  SOLD,  TRANSFERRED,
         HYPOTHECATED,  OR OTHERWISE DISPOSED OF UNLESS A REGISTRATION STATEMENT
         WITH  RESPECT TO THIS  WARRANT AND THE SHARES FOR WHICH THIS WARRANT IS
         EXERCISABLE  IS  EFFECTIVE  UNDER THE FEDERAL ACT, THE FLORIDA ACT, AND
         ANY OTHER APPLICABLE STATE SECURITIES LAWS, OR SUCH REGISTRATION IS NOT
         REQUIRED.

                           DISPLAY TECHNOLOGIES, INC.

                             STOCK PURCHASE WARRANT

Warrant to Purchase                                             January 17, 2001
up to 2,143,000 shares of
Common Stock

         THIS  CERTIFIES  that,  for  value  received,   RAYMOND  JAMES  CAPITAL
PARTNERS,  L.P.,  or its  registered  and  permitted  assigns,  is  entitled  to
subscribe for and purchase from DISPLAY TECHNOLOGIES, INC., a Nevada corporation
(the  "CORPORATION"),  at a price of $0.125  per share,  subject  to  adjustment
pursuant to SECTION 3 below,  (the "EXERCISE  PRICE") at any time after the date
hereof but prior to the fifth  anniversary of the date hereof  2,143,000  shares
(subject  to  adjustment  pursuant  to  SECTION  2  below)  of  fully  paid  and
nonassessable  Common Stock, $0.001 par value per share, of the Corporation (the
"COMMON  STOCK"),  subject to the  provisions  and upon the terms and conditions
hereinafter  set forth.  This  Warrant and any Warrant or Warrants  subsequently
issued upon exchange or transfer hereof are hereinafter  collectively called the
"WARRANT."

         1. EXERCISE OF WARRANT.  The rights  represented by this Warrant may be
exercised  by the  holder  hereof,  in whole at any time or in part from time to
time, but not as to a fractional share of Common Stock, by the surrender of this
Warrant (properly endorsed) at the office of the Corporation shown in SECTION 13
hereof,  and by payment to the  Corporation  of the Exercise  Price in cash,  by
certified  or  official  bank check or by wire  transfer,  for each share  being
purchased.  In lieu of  payment  of cash,  the holder  hereof  may  satisfy  the
Exercise Price of shares being  acquired  hereunder by surrender of the right to
purchase a number of shares of Common Stock hereunder (the "SURRENDERED SHARES")
whose  value,  based on the  Closing  Price on the day  prior to such  exercise,
exceeds the  aggregate  Exercise  Price of the  Surrendered  Shares by an amount
equal to the aggregate  Exercise  Price of the shares with respect to which this
Warrant  is  being  exercised.  In the  event  of  any  exercise  of the  rights


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represented  by this Warrant,  a certificate or  certificates  for the shares of
Common Stock so purchased, registered in the name of the holder hereof, shall be
delivered to the holder hereof within two days, after the rights  represented by
this Warrant shall have been so exercised and,  unless this Warrant has expired,
a new Warrant  representing the number of shares (except a remaining  fractional
share),  if any,  with  respect to which this  Warrant  shall not then have been
exercised shall also be issued to the holder hereof within such time. The person
in whose name any certificate for shares of Common Stock is issued upon exercise
of this  Warrant  shall for all  purposes be deemed to have become the holder of
record of such  shares  on the date on which the  Warrant  was  surrendered  and
payment  of the  Exercise  Price  was  made,  except  that,  if the date of such
surrender  and  payment  is a date on  which  the  stock  transfer  books of the
Corporation are closed, such person shall be deemed to have become the holder of
such shares at the opening of business on the next  succeeding date on which the
stock  transfer books are open. As used in this Warrant,  "CLOSING  PRICE" means
the closing sale price of the Common Stock on the NASDAQ National Market, or the
principal  market or exchange on which the Common Stock is then traded,  for the
specified  trading day, or if the Common  Stock is not so traded,  the value per
share  determined  by the Board of Directors of the  Corporation  acting in good
faith.

         2.  ADJUSTMENT  OF  NUMBER  OF  SHARES  SUBJECT  TO  WARRANT.  Upon any
adjustment of the Exercise Price as provided in SECTION 3 hereof,  the holder of
this Warrant shall thereafter be entitled to purchase, at the Exercise Price, as
adjusted,  the number of shares  (calculated  to the  nearest  tenth of a share)
obtained by multiplying the Exercise Price in effect  immediately  prior to such
adjustment by the number of shares  purchasable  hereunder  immediately prior to
such adjustment and dividing the product thereof by the Exercise Price resulting
from such adjustment.

         3.  ADJUSTMENT OF EXERCISE  PRICE.  (a) If and whenever the Corporation
shall issue,  sell,  distribute  or otherwise  transfer any shares of its Common
Stock  (including  treasury  shares),  other than as the result of  exercises of
options,  warrants or conversion  rights  outstanding on the date hereof,  for a
consideration per share less than the Exercise Price in effect immediately prior
to the time of such issue,  sale, or transfer then, upon such event the Exercise
Price shall be reduced to the price  determined  by dividing (i) an amount equal
to the sum of (x) the number of shares of Common Stock  outstanding  immediately
prior to such  event  (including  as  outstanding  all  shares of  Common  Stock
issuable upon conversion of convertible  securities of the  Corporation,  except
for Series A-1  Preferred  Stock  issued  pursuant to the  Agreement  to Provide
Guarantee dated the date hereof (the "GUARANTEE  AGREEMENT"),  and issuable upon
the exercise of options and warrants of the Corporation, except for this Warrant
and other warrants issued pursuant to the Guarantee Agreement and the Securities
Purchase Agreement dated July 30, 1999 (the "PURCHASE AGREEMENT")) multiplied by
the then existing Exercise Price and (y) the consideration,  if any, received by
the  Corporation  upon such event,  by (ii) the total number of shares of Common
Stock  outstanding  immediately  after such event  (including as outstanding all
shares of Common Stock issuable upon conversion of convertible securities of the
Corporation,  except for Series  A-1  Preferred  Stock  issued  pursuant  to the
Guarantee  Agreement,  and issuable upon the exercise of options and warrants of
the  Corporation,  except for this Warrant and other

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<PAGE>

warrants issued pursuant to the Guarantee  Agreement and the Purchase Agreement,
provided  that,  for this  purpose,  in computing the number of shares of Common
Stock issuable upon conversion of convertible securities or exercise of warrants
or  options,  any  adjustments  in the  conversion  price  of  such  convertible
securities or in the exercise  price of such warrants or options  resulting from
the  transaction  which gave rise to the  adjustment in the Exercise Price being
calculated shall be taken into account).

         For purposes of this SECTION 3(A), the following paragraphs (1) to (6),
inclusive, shall also be applicable:

                  (1) In the case of the issuance of Common Stock for cash,  the
         consideration  shall be deemed to be the  amount of cash paid  therefor
         after deducting  therefrom any discounts,  commissions,  fees, or other
         expenses  allowed,  paid,  or  incurred  by  the  Corporation  for  any
         underwriting  or placement or otherwise in connection with the issuance
         and sale thereof.

                  (2)  In the  case  of  the  issuance  of  Common  Stock  for a
         consideration  in whole or in part other than cash,  the  consideration
         other than cash shall be deemed to be the fair market value  thereof as
         determined in good faith by the Board of Directors, irrespective of any
         accounting treatment.

                  (3) In the case of the  issuance of (x) options or warrants to
         purchase or rights to subscribe  for Common  Stock,  (y)  securities by
         their terms  convertible  into or exchangeable  for Common Stock or (z)
         options  or  warrants  to  purchase  or  rights to  subscribe  for such
         convertible or exchangeable securities:

                           (A) the aggregate  maximum number of shares of Common
                  Stock deliverable upon exercise of such options or warrants to
                  purchase  or rights to  subscribe  for Common  Stock  shall be
                  deemed to have been issued at the time such options, warrants,
                  or rights  were  issued and for a  consideration  equal to the
                  consideration   (determined   in  the   manner   provided   in
                  subdivisions  (1) and (2)  above),  if  any,  received  by the
                  Corporation  upon the issuance of such options,  warrants,  or
                  rights  plus  the  minimum  purchase  price  provided  in such
                  options,  warrants,  or rights  for the Common  Stock  covered
                  thereby;

                           (B) the aggregate  maximum number of shares of Common
                  Stock  deliverable  upon  conversion of or in exchange for any
                  such  convertible  or  exchangeable  securities  or  upon  the
                  exercise  of  options or  warrants  to  purchase  or rights to
                  subscribe for such convertible or exchangeable  securities and
                  subsequent  conversion or exchange  thereof shall be deemed to
                  have been  issued at the time such  securities  were issued or
                  such  options,  warrants,  or  rights  were  issued  and for a
                  consideration  equal  to  the  consideration  received  by the
                  Corporation  for any  such  securities  and  related  options,
                  warrants, or rights (excluding any cash received on account of
                  accrued  interest or accrued  dividends),  plus the additional
                  consideration,  if any, to be received by the Corporation upon
                  the conversion or exchange of such  securities or the exercise

                                       3
<PAGE>

                  of any related options, warrants, or rights (the consideration
                  in each  case  to be  determined  in the  manner  provided  in
                  subdivisions (1) and (2) above); and

                           (C) on any  change in the  number of shares of Common
                  Stock deliverable upon exercise of any such options, warrants,
                  or rights or conversions  of or exchange for such  convertible
                  or exchangeable  securities or any change in the consideration
                  to be received  by the  Corporation  upon the  exercise of any
                  such  options,  warrants,  or  rights  or  conversions  of  or
                  exchange for such convertible or exchangeable securities,  the
                  Exercise  Price shall  forthwith be readjusted to the Exercise
                  Price that would have  applied had the  adjustment  (made upon
                  the  issuance  of such  options,  rights,  or  securities  not
                  converted prior to such change or options or rights related to
                  such  securities not converted prior to such change) been made
                  upon the basis of such change.

                  (4) In the  case of  issuance  of stock  appreciation  rights,
         phantom stock options, or any other contractual  arrangements ("SAR'S")
         that provide  payments or benefits  related to the value of  securities
         ("BASE  SECURITIES")  of the  Company,  the  equivalent  number of Base
         Securities  shall be deemed to be issued and  outstanding,  except that
         such  Base  Securities  shall  not be  deemed  to be  outstanding  when
         calculating  an adjustment  to the Exercise  Price  otherwise  required
         hereunder as a result of the future issuance of other  securities.  The
         issuance price of any Base Security  treated as issued pursuant to this
         subdivision  (4)  shall  be  deemed  to be the  base  value of the Base
         Security  established in the SAR for purposes of  calculating  payments
         due under the SAR as the result of  appreciation  of the Base Security.
         For example,  if an employee is granted the right to receive cash equal
         to the future value of a specified  number of shares of Common Stock in
         excess of $3.00 per  share,  for the  purposes  of this  SECTION 3 such
         shares of Common Stock would be deemed to be issued at $3.00 per share.

                  (5) In the case of any future  contingent  agreement  to issue
         securities,  the  securities  shall be deemed to be  outstanding at the
         time such agreement is entered into (except that such securities  shall
         not be deemed to be outstanding  when  calculating an adjustment to the
         Exercise Price otherwise  required  hereunder as a result of the future
         issuance of other  securities).  The sale price of such  securities and
         the sale price of any  securities  actually  issued at the time of such
         agreement  shall  be  determined  for  purposes  of this  SECTION  3 by
         dividing the sum of the number of  securities  actually  issued and the
         securities  issuable upon  satisfaction of the contingency by the total
         consideration  received  by the  Corporation  in  connection  with such
         agreement.  If the number of  securities  contingently  issuable is not
         determinable  until  the  contingency  occurs,  the  maximum  number of
         securities  issuable upon such occurrence shall be deemed issued at the
         time of such  agreement.  If the maximum  number of  securities  is not
         determinable until the contingency  occurs, then upon occurrence of the
         contingency  all securities  issued  pursuant to the agreement shall be
         deemed to have been issued at the time the  agreement  was entered into
         for the total consideration

                                       4
<PAGE>

         received  by the  Corporation  pursuant to the  agreement  and, if such
         consideration per share of Common Stock is less than the Exercise Price
         at the time of such agreement, a retroactive adjustment to the Exercise
         Price shall be made.

                  (6) The  Corporation is a party to that certain  Agreement and
         Plan of  Merger  and  Reorganization  dated  as of July  1,  1999  (the
         "LOCKWOOD   AGREEMENT")   by  and  among  the   Corporation,   Lockwood
         Acquisitions  Corp.,  Lockwood  Sign  Group  and  the  shareholders  of
         Lockwood Sign Group (the "LOCKWOOD SHAREHOLDERS").  The issuance to the
         Lockwood Shareholders of (i) 415,000 shares of Common Stock pursuant to
         Section  1.4(a)(ii)  of the Lockwood  Agreement  and (ii) up to 285,000
         shares of Common Stock pursuant to Section  1.9(a),  (b) and (c) of the
         Lockwood Agreement shall not give rise to an adjustment of the Exercise
         Price under Section 3 hereof;  provided,  however,  if the  Corporation
         issues additional  shares of Common Stock to the Lockwood  Shareholders
         under Section 1.4(c) or pays additional  consideration  to the Lockwood
         Shareholders  under Section 1.9(d) of the Lockwood Agreement (in shares
         of Common Stock),  the issuance of shares of Common Stock under Section
         1.4(c) and the  issuance  of shares of Common  Stock and the payment of
         consideration  (in shares of Common Stock or  otherwise)  under Section
         1.9(d)  shall be  considered  to be  events  which  may give rise to an
         adjustment of the Exercise Price under Section 3, as follows:

                  (A) In the case of the issuance of additional shares of Common
         Stock under  Section  1.4(c) of the Lockwood  Agreement,  each share of
         Common  Stock  issued under  Section  1.4(c) of the Lockwood  Agreement
         shall be considered issued for the Average Trading Price (as defined in
         the  Lockwood  Agreement)  of the Common Stock for the last 31 calendar
         days of the Measuring Period (as defined in the Lockwood Agreement).

                  (B) In the case of the payment of additional  shares of Common
         Stock under  Section  1.9(d) of the Lockwood  Agreement,  each share of
         Common  Stock  issued under  Section  1.9(d) of the Lockwood  Agreement
         shall be considered issued for the Average Trading Price (as defined in
         the  Lockwood  Agreement)  during  the  last 31 days of the  Contingent
         Measuring Period (as defined in the Lockwood Agreement).

         (b) If, at any time,  the number of shares of Common Stock  outstanding
is  increased  by a stock  dividend  payable  in shares of Common  Stock or by a
subdivision  or split-up of shares of Common Stock,  then,  following the record
date fixed for the  determination of holders of Common Stock entitled to receive
such stock  dividend,  subdivision,  or split-up,  the  Exercise  Price shall be
proportionately  decreased so that the number of shares of Common Stock issuable
on exercise of this  Warrant  pursuant to SECTION 2 above shall be  increased in
proportion to such increase in outstanding shares.

         (c) If, at any time,  the number of shares of Common Stock  outstanding
is decreased by a combination of the outstanding  shares of Common Stock,  then,
following  the record date for such  combination,  the  Exercise  Price shall be
appropriately increased so that

                                       5
<PAGE>

the  number of shares of Common  Stock  issuable  on  exercise  of this  Warrant
pursuant to SECTION 2 above shall be decreased in proportion to such decrease in
outstanding shares.

         (d) If, at any time,  the  Corporation  shall fix a record date for the
making of a dividend  or  distribution  to the  holders  of its Common  Stock of
assets (other than regular cash dividends out of earned  surplus),  evidences of
its indebtedness,  subscription rights, or warrants,  then in each such case the
Exercise Price shall be reduced to the amount  determined by multiplying (i) the
Exercise  Price  in  effect  immediately  prior  to such  record  date by (ii) a
fraction, of which the numerator shall be the total number of outstanding shares
of Common Stock  (including as  outstanding  all shares of Common Stock issuable
upon conversion of convertible securities of the Corporation,  except for Series
A-1 Convertible Preferred Stock issued pursuant to the Guarantee Agreement,  and
issuable  upon the  exercise  of  warrants,  except for this  Warrant  and other
warrants issued pursuant to the Guarantee  Agreement and the Purchase Agreement,
and options of the Corporation)  multiplied by the current Exercise Price,  less
the fair market value (as  determined  in good faith by the  Company's  Board of
Directors)  of the  portion of the assets or  evidences  of  indebtedness  to be
distributed  or of such  subscription  rights  or  warrants,  and of  which  the
denominator  shall be the total number of outstanding  shares of Common Stock on
such record date  (including as outstanding  all shares of Common Stock issuable
upon conversion of convertible securities of the Corporation,  except for Series
A-1 Convertible Preferred Stock issued pursuant to the Guarantee Agreement,  and
issuable  upon the  exercise  of  warrants,  except for this  Warrant  and other
warrants issued pursuant to the Guarantee  Agreement and the Purchase Agreement,
and options of the Corporation)  multiplied by the current Exercise Price.  Such
adjustment shall be made  successively  whenever such a record date is fixed and
shall become effective  immediately  after the record date for the determination
of shareholders entitled to receive the distribution.

         (e) Whenever  the Exercise  Price shall be adjusted as provided in this
SECTION 3, the  Corporation  shall  forthwith  deliver  to the  holder  hereof a
statement,  signed by its chief financial  officer,  showing in detail the facts
requiring such  adjustment and the Exercise Price and number of shares of Common
Stock subject hereto,  such statement to be sent by first-class  certified mail,
return receipt requested, postage prepaid.

         4. STOCK TO BE RESERVED.  The Corporation will at all times reserve and
keep available out of its authorized Common Stock or its treasury shares, solely
for the purpose of issue upon the exercise of this  Warrant as herein  provided,
such  number  of  shares  of Common  Stock as shall  then be  issuable  upon the
exercise of this Warrant.  The  Corporation  covenants that all shares of Common
Stock which shall be so issued  shall be duly and validly  issued and fully paid
and  nonassessable  and free from all taxes  (other than income  taxes and other
taxes on the holder),  liens, and charges with respect to the issue thereof. The
Corporation  will take all such action as may be reasonably  necessary to ensure
that all such shares of Common Stock may be so issued  without  violation of any
applicable law or regulation, or of any requirements, of any securities exchange
or  market  upon  which the  Common  Stock of the  Corporation  may be listed or
traded.  The  Corporation  has not granted

                                       6
<PAGE>

and will not grant any right of first  refusal with  respect to shares  issuable
upon exercise of this Warrant,  and there are not preemptive  rights  associated
with such shares.

         5. ISSUE TAX. The issuance of  certificates  for shares of Common Stock
upon exercise of this Warrant shall be made without charge to the holder for any
issuance  tax in respect  thereof  provided  that the  Corporation  shall not be
required to pay any tax which may be payable in respect of any transfer involved
in the issuance and delivery of any certificate in a name other than that of the
holder.

         6. CLOSING OF BOOKS. The Corporation will at no time close its transfer
books against the transfer of the shares of Common Stock issued or issuable upon
the  exercise of this  Warrant in any manner  which  interferes  with the timely
exercise of this Warrant.

         7. CONSOLIDATION, MERGER, OR SALE. If at any time the holders of Common
Stock shall be entitled to receive stock, securities,  or assets with respect to
or in  exchange  for Common  Stock by reason of any  capital  reorganization  or
reclassification of the capital stock of the Corporation or any consolidation or
merger  of  the  Corporation  with  another  corporation,  the  sale  of  all or
substantially  all  of  the  Corporation's  assets  to  another  corporation  or
otherwise (a "SIGNIFICANT  TRANSACTION")  and this Warrant has not expired as of
the effective date of such Significant  Transaction then, as a condition of such
Significant  Transaction or other  transaction,  lawful and adequate  provisions
shall be made  whereby the holder  shall  thereafter  have the right to purchase
upon the basis and upon the terms and conditions specified herein and in lieu of
the  shares  of  Common  Stock  of  the  Corporation   immediately   theretofore
purchasable upon the exercise of this Warrant, such shares of stock, securities,
or assets  (including  cash) as may be issued or payable  with  respect to or in
exchange  for a number of  outstanding  shares of such Common Stock equal to the
number of shares of such  stock  immediately  theretofore  purchasable  had such
Significant  Transaction or other  transaction not taken place,  and in any such
case  appropriate  provision  shall  be made  with  respect  to the  rights  and
interests of holder to the end that the  provisions  hereof shall  thereafter be
applicable, as nearly as may be, in relation to any shares of stock, securities,
or assets thereafter deliverable upon the exercise of this Warrant (including an
immediate  adjustment,  by  reason  of such  Significant  Transaction  or  other
transaction,  of the Exercise Price to the value for the Common Stock  reflected
by the terms of such Significant  Transaction or other  transaction if the value
so reflected is less than the Exercise  Price).  To the extent that this Warrant
has  not  expired,   the  Corporation  will  not  effect  any  such  Significant
Transaction or other  transaction  unless prior to the consummation  thereof the
successor  corporation  (if  other  than the  Corporation)  resulting  from such
consolidation  or merger or the corporation  purchasing such assets shall assume
by written  instrument  executed  and mailed or  delivered to the holder of this
Warrant in accordance with SECTION 13 below, the obligation to deliver to holder
such shares of stock, securities, or assets as, in accordance with the foregoing
provisions, holder may be entitled to receive.

                                       7
<PAGE>

         8.       NOTICES OF RECORD DATES.  In the event of:

         (a) any  taking by the  Corporation  of a record of the  holders of any
class of securities for the purpose of determining  the holders  thereof who are
entitled  to  receive  any  dividend  or  other  distribution,  or any  right to
subscribe for,  purchase,  or otherwise acquire any shares of stock of any class
or any other securities or property, or to receive any other right, or

         (b) any capital reorganization of the Corporation, any reclassification
or recapitalization of the capital stock of the Corporation,  or any transfer of
all or  substantially  all the assets of the Corporation to, or consolidation or
merger of the Corporation with or into, any other corporation, or

         (c)  any  voluntary  or  involuntary   dissolution,   liquidation,   or
winding-up of the Corporation,

then and in each such event the  Corporation  will give  notice to the holder of
this Warrant specifying (i) the date on which any such record is to be taken for
the purpose of such dividend,  distribution, or right and stating the amount and
character of such dividend,  distribution,  or right, and (ii) the date on which
any   such   reorganization,   reclassification,   recapitalization,   transfer,
consolidation,  merger,  dissolution,  liquidation, or winding-up is expected to
take  place,  and the time,  if any is to be fixed,  as of which the  holders of
record of Common Stock will be entitled to exchange their shares of Common Stock
for  securities  or  other  property   deliverable  upon  such   reorganization,
reclassification,    recapitalization,    transfer,    consolidation,    merger,
dissolution,  liquidation, or winding-up. Such notice shall be given at least 10
days and not more than 90 days  prior to the date  therein  specified,  and such
notice  shall state that the action in question or the record date is subject to
the effectiveness of a registration  statement under the Securities Act of 1933,
as amended, or to a favorable vote of stockholders, if either is required.

         9. NO STOCKHOLDER RIGHTS OR LIABILITIES. This Warrant shall not entitle
the  holder  to any  voting  rights  or other  rights  as a  stockholder  of the
Corporation.  No provision hereof,  in the absence of affirmative  action by the
holder hereof to purchase shares of Common Stock, and no mere enumeration herein
of the  rights  or  privileges  of the  holder  hereof,  shall  give rise to any
liability  of such  holder for the  Exercise  price or as a  shareholder  of the
Corporation,  whether  such  liability  is  asserted  by the  Corporation  or by
creditors of the Corporation.

         10.  TRANSFERABILITY.  The holder of this  Warrant  may  transfer  this
Warrant and the rights  represented  thereby,  in whole or in part,  at any time
prior to the applicable  expiration  date set forth in SECTION 1 above,  without
the prior written consent of the  Corporation or any other party;  provided that
any transfer may only be made in compliance  with federal and  applicable  state
securities  laws or exemptions  therefrom.  No transfer of this Warrant shall be
effective unless and until registered on the books of the Corporation maintained
for such purpose,  and the Corporation  may treat the registered  holders as the
absolute  owner of this  Warrant  for all  purposes  and the person  entitled to
exercise the rights  represented  hereby

                                       8
<PAGE>

until such a transfer is so registered.  Any transferee of this Warrant,  by its
acceptance  thereof,  agrees to be bound by all of the terms and  conditions  of
this Warrant.  The provisions of this SECTION 10 shall not apply to Common Stock
issued upon exercise of this Warrant.

         11. INVESTMENT  REPRESENTATION AND LEGEND. The holder, by acceptance of
this Warrant,  represents and warrants to the  Corporation  that it is acquiring
the Warrant and will  acquire the shares of Common  Stock (or other  securities)
issuable upon the exercise  hereof for  investment  purposes only and not with a
view toward the distribution thereof in violation of applicable securities laws.
The holder, by acceptance of this Warrant, agrees that the Corporation may affix
a legend to certificates for shares of Common Stock issued upon exercise of this
Warrant  substantially  similar to the legend set forth in the Investors' Rights
Agreement  dated the date  hereof.  The  holder  hereof  shall have the right to
registration  under the  Securities  Act of 1933 of the  shares of Common  Stock
issued  upon  exercise  of  this  Warrant  pursuant  to  the  Investors'  Rights
Agreements.

         12. LOST, STOLEN,  MUTILATED OR DESTROYED  WARRANT.  If this Warrant is
lost, stolen,  mutilated, or destroyed, the Corporation may, on such terms as to
indemnity or  otherwise as it may in its  discretion  reasonably  impose  (which
shall, in the case of a mutilated Warrant, include the surrender thereof), issue
a new Warrant of like  denomination  and tenor as the  Warrant so lost,  stolen,
mutilated,  or  destroyed.  Any such new Warrant  shall  constitute  an original
contractual  obligation of the  Corporation,  whether or not the allegedly lost,
stolen,  mutilated,  or destroyed  Warrant shall be at any time  enforceable  by
anyone other than the holder of the new Warrant.

         13. NOTICES. All notices,  requests, and other communications  required
or permitted to be given or delivered  hereunder shall be in writing,  and shall
be delivered,  or shall be sent by certified or registered mail, postage prepaid
and addressed, return receipt requested, if to the holder at:


                            Raymond James Capital Partners, L.P.
                            880 Carillon Parkway
                            St. Petersburg, FL  33716
                            Attention: Gary A. Downing

and, if to the Corporation, at:

                            Display Technologies, Inc.
                            5029 Edgewater Drive
                            Orlando, Florida 32810
                            Attention:  President

or at such other  address as shall be  furnished  to either party by notice from
the other.


                                       9
<PAGE>


         IN WITNESS  WHEREOF,  the  Corporation  has executed this Warrant under
seal on and as of the day and year first above written.



                                           DISPLAY TECHNOLOGIES, INC.


                                           By:  /s/ J. William Brandner
                                              ----------------------------------
                                           Its:  President
                                               ---------------------------------


                                           Attest:  /s/ Marshall S. Harris
                                                  ------------------------------

                                           Its:  Secretary
                                                 -------------------------------

                                                    [CORPORATE SEAL]