COMPANY NEWS

CopyTele Announces Purchase of Securities of Videocon Industries Limited

MELVILLE, NY - December 19, 2007: CopyTele, Inc. (OTCBB:COPY), announced today that it has completed the purchase of 1,495,845 Global Depository Receipts (GDRs) of Videocon Industries Limited (Videocon). The purchase was made in accordance with CopyTele's previously announced purchase agreement. Videocon GDRs are listed on the Luxembourg Stock Exchange.

Videocon Industries Limited is the 3.5 billion US Dollar flagship company of the Videocon Group, one of India's leading business houses. Videocon Group is a fully integrated consumer electronics and home appliances enterprise with backward integration in Plasma Panel, CRT Glass, Color Picture Tubes and other key components for the consumer electronics, home appliances and components industries. The company also operates in the Oil & Gas sector through its 25% participating interest in Ravva Oil Field which produces 50,000 barrels of oil per day. The group also has participating interests in exploration activities in Oman, Timor, Brazil, and Australia. The Videocon Group has the widest sales & service network in India supporting seventeen locally-based factories. In addition, the Group operates facilities in Italy, Poland, Oman, China and Mexico. For more information on Videocon, visit www.videoconworld.com.

CopyTele's principal operations include the development, production and marketing of its thin flat low voltage phosphor displays and the development, production and marketing of multi-functional encryption products, hardware and software based, that provide information security for domestic and international users over virtually every communication media. For additional information, visit CopyTele's website at www.copytele.com.

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Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect CopyTele's current expectations concerning future events and results. CopyTele generally uses the words "believes", "expects", "intends", "plans", "anticipates", "likely", "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning CopyTele's expectations, involve known and unknown risks, uncertainties and other factors, some of which are beyond CopyTele's control, which may cause CopyTele's actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. In evaluating such statements as well as the future prospects of CopyTele, specific consideration should be given to various factors, including the following: CopyTele's prior history of losses and negative cash flows from operations; CopyTele's ability to obtain debt or equity financing to continue our marketing, research and development activities, on terms acceptable to CopyTele, if cash generated from operations is insufficient to satisfy our liquidity requirements; CopyTele's ability to commercialize a full-color video display, including through its license with Videocon Industries Limited; the possible development of competitive products that could render CopyTele's products obsolete or unmarketable; and other risks as detailed from time-to-time in CopyTele's filings with the Securities and Exchange Commission. CopyTele undertakes no obligation to update any forward-looking statements as a result of new information, unanticipated events, or otherwise.