Cambridge Display technology reported revenues of $13.3 million for 2004, an increase of 24% from $10.7 million in 2003.

Revenues from license fees and royalties grew to $6.8 million from $4.3 million in 2003, an increase of 58%. Of these revenues, royalties increased to $2.6 million in 2004 from $0.4 million in 2003. The Company is also reporting $0.9 million of other license-related revenues in 2004.

The Company believes that revenue has the potential to grow at a healthy pace in 2005, while the negotiation of any new licenses would add further upside potential.

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