Innovision Research & Technology plc

(the "Company" or "Innovision R&T")

Major NFC IP Contract

The Company is pleased to announce that it has signed its second significant new contract for its GEM^TM NFC Intellectual Property this fiscal year.  The contract is with another major global semiconductor corporation and relates to chips targeted at high volume markets for mobile handsets and other consumer electronic products incorporating wireless communications.

This contract is particularly significant as it is the first where the end customer will licence and take delivery of the IP and then customise it to their requirements utilising their own engineering teams.  There will be licence and some small services revenue in excess of $2 million in this financial year with further royalty flows anticipated in the following years. It is expected this contract will generate direct revenues in excess of $6 million over several years, mostly from a combination of licence and royalty income.

David Wollen, Chief Executive Officer, said:

"This is an important milestone for the Company as we further proliferate adoption of our IP into very high volume markets with major global players, while at the same time minimising the need to add large engineering teams for customisation as we have been doing to date.

"The majority of the tier 1 semiconductor connectivity companies worldwide are now adopting or evaluating our IP for NFC, known as GEM.  By encouraging customers to undertake any customisation they require themselves or to take the IP with minor changes, which becomes possible as it matures, we are able to start penetrating tier 2 and 3 accounts.  This should further strengthen the future royalty stream."

Enquiries:

Innovision Research & Technology Plc                             Tel: 01285 888 200

David Wollen, Chief Executive Officer

Brian McKenzie, Finance Director

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

Jonathan Marren

David Anderson