Universal Display Corporation Announces Novel Full-Color AMOLED Display Prototype on Flexible Metal Foil at USDC Conference; Company's Innovations in Flexible OLED Technology Open the Door Toward Wide Range of Product Applications

Business Wire, Feb 7, 2006

EWING, N.J. -- The future of OLED display technology will take a major step forward today when Universal Display Corporation (NASDAQ:PANL) announces the achievement of a full-color, active-matrix OLED (AMOLED) display prototype on flexible metal foil at the United States Display Consortium's 5th Annual Flexible Displays & Microelectronics Conference in Phoenix, Arizona.

In the paper titled "Full Color 100 dpi AMOLED Displays on Flexible Stainless Steel Substrates," Dr. Anna Chwang will highlight the performance characteristics of a novel flexible, full-color AMOLED display prototype that is based on the Company's proprietary phosphorescent OLED (PHOLED(TM)), top-emitting OLED (TOLED(R)) and flexible OLED (FOLED(R)) technologies. The full-color AMOLED prototype also uses poly-Silicon thin film transistor (TFT) backplanes designed and fabricated by PARC, a subsidiary of Xerox Corporation, and was encapsulated by Vitex Systems.

The four-inch diagonal display can portray a variety of images, including full-motion video. This advance is significant in proving the fundamental feasibility of the Company's approach and also clearly demonstrates several key performance advantages. The display (without external drive electronics and package) is approximately 0.1 mm thick and weighs a mere 6 grams. The comparable glass-based LCD would be approximately 1.0-1.5 mm thick and weigh 20-30 grams. Research and development activities are continuing in a number of areas including enhanced display flexibility, defect elimination and enhanced electronics capabilities.

Developed partly under funding from the U.S. Department of Defense, three prototype devices were delivered to the U.S. Department of Defense under research agreements with the U.S. Air Force Research Laboratory, the U.S. Department of the Army Research Development and Engineering Command (CERDEC), and the U.S. Army Research Laboratories.

"The results demonstrated thus far under this program, represent an important advancement toward the development of flexible display technology and the delivery of rugged, lightweight, and low power displays for the Military," said Dr. David Morton, Program Manager, U.S. Army's Flexible Display Center.

"We greatly appreciate the vision that the U.S. Department of Defense has had in supporting our continued innovation of flexible OLED technology," said Steven V. Abramson, President and Chief Operating Officer of Universal Display. "By combining flexibility with the power efficiency, viewing performance and form factor advantages of our Company's proprietary OLED technologies over existing LCD displays, we have the potential to create a seemingly boundless number of product possibilities, both existing and some, as yet, unimagined."

This flexible, full-color AMOLED prototype highlights several key advantages of the Company's proprietary OLED technologies over conventional liquid crystal displays (LCDs). Flexible OLED displays are significantly thinner and lighter weight than existing LCDs. The use of metal foil, instead of the glass that is typically used in LCDs, also offers significantly enhanced thermal and mechanical durability. These features may offer important advantages for today's cell phones, PDA's and lap-top computers.

Coupling these features with the metal foil's inherent flexibility may also lead to a variety of new product opportunities. Applications might include wearable electronics, such as a wrist-mounted PDA, and other portable electronics. These advances are critical for eventual development of the Company's proprietary Universal Communication Device, which would allow a user to unroll a thin, metal screen from a pen-like device for visual as well as verbal communication.

To see how Universal Display is changing the face of the display industry, please visit the Company at http://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 the electronic flat panel display, lighting and other opto-electronic markets. Universal Display is working with a network of world-class organizations including Princeton University, the University of Southern California, and PPG Industries. The Company has established more than 20 development programs and other similar relationships with companies such as Tohoku Pioneer Corporation; Samsung SDI Co.; AU Optronics Corporation; DuPont Displays, Inc.; Seiko Epson Corporation; Sony Corporation; and Toyota Industries Corporation. The Company has also licensed its OVPD technology to AIXTRON AG for the development of next-generation OLED manufacturing equipment. Universal Display currently owns or has exclusive or sole license rights in approximately 750 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 products to meet their needs for OLED products. Visit Universal Display on the Web at www.universaldisplay.com.