Universal Display Makes 200 dpi Transparent OLED

EWING, N.J. - May 24, 2005 - Universal Display Corporation (NASDAQ:PANL), the Company that's lighting the way in developing and commercializing OLED displays, today announced the development of the world's first high-resolution, active-matrix, transparent OLED (AM-TOLED) display using the Company's PHOLED(TM) phosphorescent OLED and TOLED(R) transparent OLED technologies along with amorphous silicon (a-Si) backplane technology developed by Professor Jin Jang at Kyung Hee University in Seoul, Korea.

The development of this high-resolution transparent OLED display is a step toward putting thin, low power, full-motion video displays that provide transparency when turned off into a variety of applications where preserving partial visibility or bi-directionality is important. These include architectural vision glass, entertainment, medical and industrial products, helmet shields for military, Homeland Security, fire and rescue applications, and other applications as yet unimagined.

This advance will be reported in a joint paper presented at the Society for Information Display (SID) International Symposium, Seminar & Exhibition, on May 26th by Dr. Yeh-Jiun Tung, Senior Scientist at Universal Display, at the Hynes Convention Center in Boston. Universal Display is demonstrating this 120 x 160 (QQVGA), 200 dots-per-inch (dpi) monochrome AM-TOLED, as well as an expanded line of PHOLED materials and other technology advances at SID booth #300 on May 24-26.

"This advance leverages the high-efficiency of our phosphorescent OLED technology, adding further support for the viable integration of OLEDs on amorphous silicon (a-Si) TFT backplanes in a variety of OLED displays," stated Steven V. Abramson, President and Chief Operating Officer of Universal Display. "Working with talented researchers at Kyung Hee University's Advanced Display Research Center, led by Professor Jin Jang, we have achieved an exciting milestone in demonstrating the world's highest resolution, active-matrix transparent OLED display."

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 and other markets. Universal Display is working with a network of world-class organizations including Princeton University, the University of Southern California, AIXTRON AG, AU Optronics Corporation, DuPont Displays, Inc., PPG Industries, Inc., Samsung SDI Co., Seiko Epson Corporation, Sony Corporation, Tohoku Pioneer Corporation and Toyota Industries Corporation. Universal Display currently has rights in more than 625 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 development, technology transfer to manufacturing partners and work with customers to develop products to meet their needs for flat panel displays. Visit Universal Display on the Web at www.universaldisplay.com .