Company Presents Advances on World’s Thinnest AMOLED Using Ultra-Thin Metallic Foil

EWING, N.J.--(BUSINESS WIRE)--Universal Display Corporation (NASDAQ:PANL), an innovator behind today’s and tomorrow’s displays and lighting products through its Universal PHOLED™ phosphorescent OLED technology, today announced the development of the world’s thinnest flexible, active-matrix OLED (AMOLED) display prototype built to date. Resulting from Universal Display’s collaboration with Professor Jin Jang of Kyung Hee University, the Company’s research demonstrates significant flexibility enhancements and AMOLED robustness when built on ultra-thin metallic foil substrates. This work will be reported in a joint paper at the Society for Information Display (SID) 2008 International Symposium, Seminar and Exhibition at the Los Angeles Convention Center in Los Angeles, CA.

“Highly Flexible Low Power Consumption AMOLED Displays on Ultra-Thin Stainless Steel Substrates.”

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The joint paper, which will be presented by Universal Display’s Dr. Rui Qing (Ray) Ma, Department Manager, Flexible Displays, discusses the successful fabrication of a low-power flexible AMOLED device built on ultra-thin (25µm) metallic foil substrate. The monochrome device combines an amorphous-Silicon (a-Si) backplane developed and fabricated by Professor Jang’s team with a top-emission, phosphorescent OLED front plane from Universal Display. Through flexibility testing, the work shows that these backplanes can operate effectively when conformed repetitively to a tight diameter of 5 millimeters. This is significant in that it demonstrates additional feasibility for product concepts such as the Company’s Universal Communication Device™. Dr. Ma will present the findings today during the OLED Display Technology I session in Concourse Hall 152 at 10:40 A.M. PT. The paper is titled “Highly Flexible Low Power Consumption AMOLED Displays on Ultra-Thin Stainless Steel Substrates.”

“We’re excited to announce advances in the flexibility and ruggedness of ultra-thin OLED displays, the result of a successful collaboration with our world-class collaborators at Kyung Hee University,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display. “These advances support our initiative to develop flexible OLED display technologies for military and consumer applications, including a ‘roll-out’ OLED display for our concept Universal Communication Device.”

DisplaySearch, a worldwide leader in display market research and consulting, projects that the worldwide market for flexible displays has the potential to grow to $4 billion in 2015. Universal Display has been working with the U.S. Department of Defense to develop highly efficient and ruggedized AMOLED displays on metallic foil substrates for use in harsh battlefield conditions. Flexible OLED displays, widely considered to be the next major breakthrough display technology, also offer key advantages, such as an ultra-thin form factor, for a variety of novel consumer applications.

To see how Universal Display Corporation is changing the face of the display industry, please visit the Company at Booth #260 or at www.universaldisplay.com.

About Universal Display Corporation

Universal Display Corporation is a world leader in developing and commercializing innovative OLED technologies and materials for use in flat panel displays, solid-state lighting products, electronic communications and other opto-electronic devices. Universal Display is working with a network of world-class organizations, including Princeton University, the University of Southern California, the University of Michigan, and PPG Industries, Inc. Universal Display has also established numerous commercial relationships with companies such as Chi Mei EL Corporation, DuPont Displays, Inc., Konica Minolta Technology Center, Inc., LG Display Co., Ltd., Samsung SDI Co., Seiko Epson Corporation, Sony Corporation, Tohoku Pioneer Corporation and Toyota Industries Corporation. Universal Display currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 825 issued and pending patents worldwide.

Universal Display is located in the Princeton Crossroads Corporate Center in Ewing, New Jersey, minutes away from its research partner at Princeton University. Universal Display’s state-of-the-art facility is designed to further technology and materials development, technology transfer to manufacturing partners and work with customers to develop OLED products that meet their needs. Visit Universal Display on the Web at www.universaldisplay.com.

All statements in this document that are not historical, such as those relating to Universal Display Corporation’s technologies and potential applications of those technologies, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 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 “Risk Factors” in Universal Display Corporation’s annual report on Form 10-K for the year ended December 31, 2007. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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