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Press Release

CITIZEN AND E INK DEMONSTRATE BENDABLE CLOCK

Clock to be showcased at the Eco-Products 2005 exhibition in Tokyo, Japan

Tokyo, Japan - December 12, 2005 – Citizen Watch Co., Ltd. (CEO: Makoto Umehara, Japan) its consolidated subsidiary, Citizen T.I.C. Co., Ltd. (CEO: Toshio Takahashi; Koganei, Tokyo; Capital: 100 million yen) and E Ink (CEO: Russ Wilcox, USA), today announced the demonstration of the world's first flexible clock using an electronic paper display (EPD). This unique clock offers a thin, lightweight, fully flexible form factor combined with substantially lower power consumption over traditional displays through its use of E Ink Imaging Film™.

With a thickness of 3.0 mm, a weight of 1.5 kg and a battery life that is 20 times longer than conventional digital clocks, this revolutionary clock also can be bent significantly while operating. Furthermore, the use of electronic ink in the clock display enables a wide viewing angle of approximately 180 degrees with a bright, high contrast look, allowing for high visibility in either a dim room or under direct sunlight. These benefits allow the clock to be installed in locations that would otherwise be difficult with other technologies.

This product will be presented at the Citizen Booth at "Eco-Products 2005", which will be held at Tokyo Big Site for the 3 days from December 15 to 17.

About Citizen T.I.C. Co., LTD.
Citizen T.I.C. Co., Ltd. (61.2% stake: as of the end of March 2005) has conducted business as T.I.C. Citizen Co., Ltd., to date, and as a part of the structural reformation of the entire Citizen group, we have changed the business name to Citizen T.I.C. Co., Ltd. in order to increase the unifying influence of the Citizen brand. Our main business is the manufacturing and sales of large-scale clocks, display devices, etc.

About E Ink Holdings
Founded in 1992 by Taiwan's leading papermaking and printing group YFY (1907.TW), E Ink Holdings Inc. "E Ink" (8069.TW) is the pioneer of TFT and ePaper business in Taiwan. Its corporate philosophy aims to deliver revolutionary products, user experiences, and environmental benefits through advanced technology development. This vision has led to its continuous investments in the field of ePaper display as well as its 2008 acquisition of Hydis Technologies, manufacturer of the world's best wide viewing angle LCDs and its 2009 acquisition of E Ink Corp., the worldwide leader in ePaper. Listed in Taiwan's GreTai Securities Market and the Luxembourg market, E Ink is now the world's largest supplier of displays to the eBook market. For corporate information, please visit www.einkgroup.com; for EPD information, please visit www.eink.com / tw.eink.com; and for FFS information, please visit www.hydis.com.