Universal Display Corporation and LG Display Co. Exhibit Latest Flexible Active-Matrix OLED Display Prototype at 2008 SID Conference and Symposium

Business Wire, May 20, 2008

Companies showcase prototype advances, including brighter colors, improved color saturation and color gamut, and one-sided electrical interconnection for enhanced flexibility

EWING, N.J. -- Universal Display Corporation (NASDAQ:PANL), an innovator behind today and tomorrow's displays and lighting through its Universal PHOLED[TM] phosphorescent OLED technology, and LG Display (NYSE:LPL, KRX:034220), a leading innovator of thin film transistor liquid crystal display (TFT-LCD), announced today the joint development of a flexible, full-color, active-matrix OLED (AMOLED) display prototype. Built on thin metallic foil, these prototypes are being showcased at each company's booth during the 2008 Society for Information Display Conference and Symposium at the Los Angeles Convention Center in Los Angeles, CA. LG Display (LGD) is located at Booth #519 and Universal Display is located at Booth #260.

The four-inch diagonal, QVGA full-color AMOLED display prototype combines LGD's amorphous-Silicon backplane technologies with Universal Display's OLED frontplane technologies, including its high-efficiency Universal PHOLED[TM] and transparent compound-cathode TOLED[R] technologies. Building on the foundation of the jointly-developed prototype shown at last year's SID Exhibition, this new demonstrator offers enhanced brightness, improved color saturation, broader color gamut and a one-sided electrical interconnection, making it the most advanced flexible OLED display built on metallic foil using a-Si backplane technology to date.

"Continuous collaborative efforts by UDC and LGD have resulted in another big step forward in flexible AMOLED," said In Jae Chung, Executive Vice President and Chief Technology Officer of LG Display. "Great teamwork between two companies has yielded consistent quality upgrades of flexible AMOLED in a short period and we expect more technological achievements in the future for realizing its full potential in real world applications."

"LG Display has been an excellent partner in advancing flexible AMOLEDs toward commercial practicability, and our success has been driven by strong, collaborative team work," said Steven V. Abramson, President and Chief Executive Officer of Universal Display. "In just over a year, our collaboration with LGD has yielded significant gains in the design and functionality of flexible OLED displays. As we continue to work with LGD, we anticipate that our joint development will drive continued progress in flexible OLED technologies for military and commercial applications."

The development of this prototype has been, in part, supported by the U.S. Department of Defense through the Battle Command Interface Branch of the U.S. Army Communication Electronics Research and Development Engineering Center (CERDEC). This work also complements flexible display development ongoing at the U.S. Army's Flexible Display Center at Arizona State University, of which Universal Display is a founding member and LGD recently joined as an Associate member.

Flexible OLED displays are widely considered to be an important future display technology with prospective use in numerous commercial and military applications, including portable electronics, such as a wrist-mounted PDA or a roll-out display in a wireless communications device.

About LG Display

LG Display Co., Ltd [NYSE:LPL, KRX:034220] is a leading manufacturer and supplier of thin-film transistor liquid crystal display (TFT-LCD) panels, OLEDs and flexible displays. The company provides TFT-LCD panels in a wide range of sizes and specifications for use in TVs, monitors, notebook PCs, and various applications. LG Display currently operates seven fabrication facilities and five back-end assembly facilities in Korea, China and Poland. The company has a total of 22,000 employees operating in ten countries around the world. Please visit www.lgdisplay.com for more information.

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 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.