Universal Display Delivers Wrist-Mounted Flexible Phosphorescent OLED Display Prototypes to U.S. Army for Field Testing

Oct 6, 2010

EWING, N.J.--()--Universal Display Corporation (NASDAQ: PANL), enabling energy-efficient displays and lighting with its UniversalPHOLED™ technology and materials, today announced that the company has delivered eight novel wrist-mounted phosphorescent OLED displays built on thin flexible metal foil to the U.S. Army Communication Electronics Research and Development Engineering Center’s (CERDEC) Technical Lead, Mr. Raymond Schulze, and to representatives from the Project Director – Common Hardware Systems (PD-CHS). The devices were presented to the military for evaluation and testing, and were showcased at the U.S. Army’s C4ISR On-the-Move testing environment last month at Fort Dix, New Jersey, where they received positive feedback by senior leaders who make critical research, development and acquisition investment decisions.

“These devices will increase the user’s situational awareness, while reducing the power and weight required by current display technologies.”

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The prototype wrist-mounted flexible OLED display devices were designed and built as part of a U.S. Department of Defense (DOD) funded program to develop a thin, lightweight and ruggedized communications device. Please refer to the attached photograph. During simulated exercises at the Fort Dix facility, the wrist-mounted devices were shown depicting a number of different sources of information, including a real-time unmanned air vehicle (UAV) video feed and various other images received through computers running different applications. These devices have the potential to provide soldiers with advantages in the field that could mitigate risk and improve operational performance.

The eight units each contain a 4.3" QVGA full-color, full-motion AMOLED display using amorphous-Silicon (a-Si) TFT backplanes designed and fabricated on thin metallic foil by LG Display. The front planes were then built on top by Universal Display using its high-efficiency, full-color PHOLED technology and materials. The use of Universal Display’s PHOLED technology enables these displays to consume less power than comparable AMLCDs, an extremely important feature to lighten the load of electrical power requirements. Designed and integrated by L-3 Display Systems, the units offer various advanced communications features, all integrated into a thin and rugged housing that comfortably fits around a soldier’s wrist.

“L-3 Display Systems is pleased to continue our long-standing collaboration with Universal Display Corporation to bring this innovative technology to the warfighter,” said David Huffman, Chief Scientist for L-3 Display Systems. “These devices will increase the user’s situational awareness, while reducing the power and weight required by current display technologies.”

“The delivery of these state-of-the art flexible communications devices, and their success in simulated field exercises, are significant achievements,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display. “I’d like to thank the DOD for its long-standing support of our flexible OLED technology. As well, I’d like to thank our tremendous partners at LG Display and L-3 Display Systems for their ongoing initiatives to make this milestone possible. This collaboration has driven key advances that may improve soldiers’ capabilities and enable a variety of wearable and other flexible applications for both the military and consumer markets.”

Flexible display technology is considered potentially disruptive for the information content and communications markets. Flexible OLEDs may enable a variety of thinner, lighter weight, and more rugged products and lead to a host of novel product designs using the conformable and flexible features that are unique to this technology.

To see how Universal Display is changing the face of the display and lighting industries, please visit the Company at www.universaldisplay.com.

About Universal Display Corporation

Universal Display Corporation (Nasdaq: PANL) is a leader in developing and delivering state-of-the-art, organic light emitting device (OLED) technologies, materials and services to the display and lighting industries. Founded in 1994, the company currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 1,000 issued and pending patents worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED™ phosphorescent OLED technology, that can enable the development of low power and eco-friendly displays and white lighting. The company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training.

Based in Ewing, New Jersey, Universal Display works and partners with a network of world-class organizations, including Princeton University, the University of Southern California, the University of Michigan, and PPG Industries, Inc. The company has also established relationships with companies such as AU Optronics Corporation, ChiMei Innolux Corporation, DuPont Displays, Inc., Konica Minolta Technology Center, Inc., LG Display Co., Ltd., Samsung Mobile Display Co, Ltd., Seiko Epson Corporation, Sony Corporation, Showa Denko K.K., and Tohoku Pioneer Corporation. To learn more about Universal Display, please visit www.universaldisplay.com.

Universal Display Corporation and the Universal Display logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.

About L-3 Display Systems

L-3 Display Systems, located in Alpharetta, Georgia, specializes in the design, development and manufacture of ruggedized display and processing systems for the world’s most advanced applications. L-3 Display Systems offers a wide variety of displays and processors to meet a host of system architectures for airborne, shipboard and ground-based applications. To learn more about L-3 Display Systems, please visit the company’s website at www.L-3com.com/displays.

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, 2009. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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