14 August 2023

Tekcapital Plc

("Tekcapital", the "Company" or the "Group")

Innovative Eyewear, Inc. Announces the 2.0 Release

of its ChatGPT App for Smart Eyewear

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group announces that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, is pleased to announce a major update to the Company's Lucyd app, the first app to enable ChatGPT on smart eyewear.

The launch of the 2.0 update delivers the following new features and usability improvements to the app's iOS version, with the same updates planned for the Android version later in 2023:

·    An end-to-end upgraded visual interface, with smoother graphics and intuitive controls for a more user-friendly experience.

·    An improvement to the connection to ChatGPT, allowing the user to submit long-form voice and text queries using the visual interface or via voice on Siri, removing the limitation in the 1.0 version on query lengths. Textual responses to queries now appear in a more satisfactory and digestible stream format.

·    The voice quality of the app's text-to-speech functionality has been improved.

·    The sharing feature has been improved with the ability to export ChatGPT responses to email, SMS and social apps.

·    The new app bypasses the need for Siri Shortcuts for handsfree use, making the onboarding of new users simpler and faster. This was developed in response to user feedback and simplifies the onboarding process. The user can simply activate Siri on their glasses and say "Lucyd" to access ChatGPT handsfree once the app is downloaded.

·    A ChatGPT toolbox has been added to the visual interface with the following capabilities: the ability to generate a paragraph from a prompt, translate text into Spanish, synopsize long form text, improve the readability of content, generate an email based on a prompt, and analyze the sentiment of text. These tools use pre-specified parameters to provide certain types of information, analysis and copywriting from ChatGPT more rapidly.

Harrison Gross, CEO of Innovative Eyewear Inc., commented:

"We are excited to roll out a significant new upgrade to the Lucyd iPhone/iPad app just a few months after the initial release. The new state-of-the-art interface makes ChatGPT easier to use than ever on our smart glasses. We look forward to introducing more features such as  a shop, and a pro version of the app which are planned for later in 2023. We believe this will deliver more value to our community and potentially develop an additional revenue stream from users of other hearable devices that want seamless voice access to ChatGPT."

  To see the Lucyd app in action, please watch the new video here.

  To download the new Lucyd app for iOS visit the App Store.

Lucyd Lyte Smart Eyewear Powered with ChatGPT

Photo Courtesy of Innovative Eyewear, Inc.

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer of cutting-edge ChatGPT enabled smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co.

Tekcapital currently owns 5,189,086 shares of Innovative Eyewear, Inc. (approximately 40%).

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About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.

LEI: 213800GOJTOV19FIFZ85

Forward-Looking Statements

This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Innovative Eyewear, Inc., Lucyd or Tekcapital that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital, Innovative Eyewear Inc. or Lucyd's management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Innovative Eyewear Inc., Lucyd and/or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Other than as required by relevant regulation or law, neither Innovative Eyewear Inc, Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.