EWING, N.J.--(BUSINESS WIRE)--May 20, 2003--Samsung SDI, a leading manufacturer of Organic Light Emitting Device (OLED) displays, and Universal Display Corporation (UDC) (NASDAQ:PANL; PHLX:PNL), a leading developer of advanced OLED technologies, announced today that Samsung SDI will present a technical paper at the 2003 Society for Information Display International Symposium in Baltimore, MD, and demonstrate an OLED display highlighting important breakthroughs in OLED technology. Samsung SDI and Universal Display have been working together for more than two years in joint efforts to commercialize OLED technologies.
Samsung SDI has fabricated and will present a 2.2 inch QCIF full color, transparent, active-matrix OLED (AMOLED) display using Universal Display's transparent OLED (TOLED(TM)). This display is transparent so that it emits light from both the top and bottom using innovative transparent cathode technology. In addition to novel uses in consumer electronics, transparent OLED displays can create significant new markets for displays in automotive windshields, architectural windows and other vision-area applications.
“Factors that May Affect Future Results and Financial Condition”
"We are very pleased that our colleagues at Samsung have been able to rapidly incorporate Universal Display's technologies into their groundbreaking OLED displays. Samsung SDI is one of the leading manufacturers of OLED displays. These papers and displays are a demonstration of the outstanding success of our joint development agreement with them," said Steven V. Abramson, President and Chief Operating Officer of UDC.
About Samsung SDI
Samsung SDI, founded in 1970, has exerted endless R&D and management innovative efforts, solidifying number one position in the global display market. Samsung SDI, major player of CRT business, has extended business focus to flat panel display including PDP, LCD, VFD and cutting-edge mobile display such as OLED. At the same time Samsung SDI is one of the major rechargeable battery makers in the world. For more information on Samsung SDI visit http://www.samsungsdi.com/.
About Universal Display Corporation
Universal Display Corporation is a world leader in developing and commercializing innovative Organic Light Emitting Device (OLED) technologies. It is collaborating with a network of world class organizations to penetrate the electronic flat panel display market, and its relationships include long-standing relationships for innovative OLED technology research with Princeton University and the University of Southern California; a joint development and cross-licensing arrangement with DuPont Displays for solution-processible OLEDs; a joint development agreement with Sony Corporation for OLED television monitors; a joint development agreement with Samsung SDI focusing on portable OLED devices; a development and evaluation agreement with Toyota Industries Corporation relating to OLEDs for white light sources; development and supply agreements with PPG Industries, Inc. of Pittsburgh, PA for the commercialization and production of proprietary high efficiency OLED materials; and a partnership with AIXTRON AG of Aachen, Germany for the development and production of next-generation OLED production equipment using Universal Display Corporation's proprietary organic vapor phase deposition (OVPD) technology. Universal Display Corporation currently has over 450 issued and pending patents worldwide. These include approximately 200 patents from its strategic research partnerships with Princeton University and the University of Southern California.
Universal Display Corporation is located in the Princeton Crossroads Corporate Center in Ewing, NJ, minutes away from its research partner at Princeton University. Its 21,000 sq. ft. facility includes an OLED pilot production line, as well as OLED technology development and technology transfer facilities. The state-of-the-art facility has been designed to further technology development, technology transfer to manufacturing partners and to work with customers to develop products to meet their needs for flat panel displays. Visit Universal Display Corporation on the Web at http://www.universaldisplay.com
All statements in this document that are not historical, such as financial or product forecasts and market growth predictions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Often, though not always, these statements are accompanied by the words "estimate," "project," "believe," "anticipate," "intend," "expect" and similar expressions. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation's current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These include, but are not limited to, the following: the feasibility and market acceptance of OLEDs for use in commercial product applications; the success of Universal Display Corporation and its research and development partners in accomplishing advances in OLED technologies, including Universal Display Corporation's TOLED, FOLED, PHOLED, P2OLED and Organic Vapor Phase Deposition (OVPD) technologies; the ability of Universal Display Corporation to enter into licensing and other strategic alliances with manufacturers of OLEDs and OLED-containing products; Universal Display Corporation's ability to obtain patent protection for its OLED technologies and to assert these patents against others; and future developments and advances by Universal Display Corporation's competitors in OLED and other display technologies. These and other risks and uncertainties are discussed in greater detail in Universal Display Corporation's periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled "Factors that May Affect Future Results and Financial Condition" in Universal Display Corporation's annual report on Form 10-K for the year ended December 31, 2002. Universal Display Corporation expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained in this document to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events.
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