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Major Contract Extension

Monday 6th April, 2009

Innovision Research & Technology Plc (“Innovision” or the “Company”)

 

Major Contract Extension

 

Innovision Research & Technology plc is pleased to announce that it has signed a significant contract extension with a market leading European wireless communications company for the inclusion of our next generation Near Field Communication (“NFC”) intellectual property in their Integrated Circuits (IC) targeted at the mobile handset and consumer device markets.

 

This contract extension comprises additional development funding of approximately $1 million and royalties expected to be worth several million dollars to the Company over several years.

 

David Wollen, Chief Executive Officer, said:

 

"This additional commitment to a new generation of our IP is a further endorsement of Innovision and the NFC market in an environment where consumer demand is generally depressed.   It is also indicative of the true partnership we have with our customer base in the RF field and gives a clear message about the strong competitive positioning of our IP in this emerging NFC market."

 

 

Enquiries:

 

Innovision Research & Technology Plc                          Tel: 01285 888 200

David Wollen, Chief Executive

Brian McKenzie, Finance Director

 

KBC Peel Hunt Ltd (Nominated Adviser and Broker)               Tel: 020 7418 8900

David Anderson

About Innovision Research & Technology plc

Innovision Research & Technology plc, is leading the next generation of NFC/RFID solutions. As the leading fabless developer of Short-Range Data Communication semiconductor and system solutions, with particular focus on NFC/RFID (Radio Frequency Identification) and ultra low-cost Integrated Circuit (IC) and RF electronic design, IRT is pushing cost performance to enable clients to get maximum utility for minimum cost.

The company develops innovative semiconductor technologies, ICs, RF systems (HF/UHF) and complete end product applications for mass volume commercialisation and then licenses customers for its incorporation into their own products.

At the heart of the emerging Near Field Communication (NFC) market, Innovision R&T designs and develops NFC/RFID IC solutions for the global mobile handset and consumer device sectors.

Products include Topaz, mandated by the NFC Forum as the NFC number one tag type format, Jewel for mass transit ticketing applications, and io, the world's smallest standards compatible Near-Field RFID reader.

Headquartered in the UK, Innovision R&T was listed in 2001 on the Alternative Investment Market (AIM) of the London Stock Exchange (ticker symbol:INN).

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