Business Services Industry

Universal Display Corporation Awarded $1.9 Million U.S. Department of Energy Contract to Accelerate Development of White OLED Lighting Products

Business Wire, July 23, 2008

Universal Display is located in the Princeton Crossroads Corporate Center in Ewing, New Jersey. 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.

About Armstrong World Industries, Inc.

Armstrong World Industries, Inc. is a global leader in the design and manufacture of floors, ceilings and cabinets. In 2007, Armstrong's consolidated net sales totaled approximately $3.5 billion. Based in Lancaster, PA, Armstrong operates 40 plants in 10 countries and has approximately 12,800 employees worldwide. Visit Armstrong on the Web at www.armstrong.com and for more information on TechZone Ceiling Systems, visit www.armstrong.com/techzone.> 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.