Panavision International (Tarzana, CA), which rents highquality lenses to movie makers, signed a fiveyear renewable licensing agreement with Lockheed Missiles & Space Co. (Palo Alto, CA) to make cinematographic and highdefinition television lenses using a liquidlens technology. Relatively lowcost liquids are used inside the lens assembly instead of expensive exotic glasses. The technology, which won an R&D 100 award in 1994, "provides Panavision greater flexibility in the design and manufacture of lighter and smaller lenses," says Panavision president John Farrand.