Flexible Plastic OLED Video Display Screen Exhibited at Universal
Display Corporations' Annual Meeting
EWING, N.J., Jun 28, 2001 (BUSINESS WIRE) -- Universal Display Corporation
(NASDAQ: PANL; PHLX: PNL), a leading developer of Organic Light Emitting Device
(OLED) technology, conducted its annual meeting today and showed its
shareholders a flexible, plastic display with video pictures displayed using the
company's phosphorescent OLED technology.
The green and red monochrome screens were linked to a video camera screen and
featured full-motion video. The FOLED(TM)s incorporated UDC's proprietary
ultra-high efficiency phosphorescent technology. Specifications on the flexible
TV screen demonstrated are as follows: > 15,000 pixel display with an 80 dpi
resolution, 256 levels grayscale, >150 cd/m2 brightness, 120 Hz refresh rate,
and video rate operation. The physical dimensions of the display are 3.0 x 1.0
in2 and 1.1 mm thick.
Other demonstrations of UDC's technology included transparent passive matrix
displays, utilizing UDC's proprietary TOLED(TM) technology, tunable full color
stacked TOLED pixels, and UDC's proprietary full-color phosphorescent materials
system.
During a presentation to shareholders at the meeting, Universal Display
President and Chief Operating Officer Steven V. Abramson, provided his insights
on the future of OLED technology, and its ability to make inroads into the flat
panel display (FPD) industry. Currently FPDs represent a $20 billion market and
is projected to exceed $70 billion in revenues by 2005. In addition, Mr.
Abramson provided details on the company's recent achievements, including the
development of a blue phosphorescent OLED device, and the company's recent joint
development agreement with Sony Corporation to develop OLED-based television
monitors.
Shareholders Approve Proposals
Shareholders approved several proposals at the annual meeting, including the
re-election of the Board of Directors; the reappointment of Arthur Anderson, LLP
as the company's auditor and the increase of shares in the company's stock
option plan.
About Universal Display Corporation
Universal Display Corporation is a world leader in developing and
commercializing innovative OLED technologies. It is collaborating with a network
of world class organizations to penetrate the electronic flat panel display
market, including a long-standing relationship for innovative OLED research with
Princeton University and the University of Southern California; a joint
development agreement with Sony Corporation for OLED television monitors: a
strategic relationship for the commercialization and production of proprietary
high efficiency OLED materials with PPG, Inc. of Pittsburgh, PA USA; a
partnership with Aixtron AG of Aachen Germany for the development and production
of the next generation of OLED production equipment using Universal Display
Corporation's proprietary organic vapor phase (OVPD) technology: has the sole
subcontracting rights to Motorola's OLED patent portfolio. Universal Display
Corporation recently announced its invention of what it believes is the first
efficient phosphorescent blue OLED. In combination with its existing red and
green phosphorescent OLEDS, The Company has established the core of primary
colors, a critical step forward in the development of full-color, active matrix
OLED displays. Visit Universal Display Corporation on the Web at
universaldisplay.com
Universal Display Corporation is located in the Princeton Crossroads Corporate
Center, Ewing, N.J., minutes away from its Research Partner at Princeton
University. Its 11,000 sq. ft. facility includes a pilot production line, as
well as technology development and technology transfer facilities. With more
than 2,500 square feet of clean room space, this state-of-the-art facility has
been designed to further technology development, technology transfer to
manufacturing partners and work with customers to develop products to meet their
needs for electronic flat panel displays.
All statements in this news release that are not historical are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act 0f
1995, subject to risks and uncertainties that could cause actual results to
differ materially for Universal Display Corporation from those projected,
including, but not limited to, statements regarding Universal Display
Corporation's beliefs, expectations, hopes or intentions regarding the future.
Forward-looking statements in this document also include statements regarding
any financial forecasts or market growth predictions. Universal Display
Corporation expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements contained
herein to reflect any change in Universal Display Corporation's expectations
with regard thereto or any change in events, conditions, or circumstances on
which any such statements are based. It is important to note that actual
outcomes and Universal Display Corporation's actual results could differ
materially from those in such forward-looking statements. Factors that could
cause actual results to differ materially include risks and uncertainties such
as: uncertainties relating to developments and advances in display technologies,
including OLED, TOLED, SOLED and FOLED technology; the expansion of applications
for OLED technology; the success of UDC and its development partners in
accomplishing technological advances; the ability of Universal Display
Corporation to enter into alliances with product manufacturers; product
development, manufacturing, and marketing acceptance; uncertainties related to
cost and pricing of Universal Display products; dependence on collaborative
partners; and other competition, risks relating to intellectual property of
others and the uncertainties of patent protection. These are discussed in
periodic reports filed with the SEC, including the Company's annual report on
Form 10-K for the year ended December 31, 2000 and quarterly report on Form
10-Q. Universal Display Corporation expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in Universal Display
Corporation's expectations with regard thereto or any change in events,
conditions, or circumstances on which any such statements are based.
CONTACT: Universal Display Corporation, Ewing
Dean Ledger, 800/599-4426
by
Gregory FCA Communications
David Evanson, 610/642-8253
devanson@gregoryfca.com
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KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS
EDUCATION
INTERNET
SOFTWARE
STOCK SYMBOLS: [(panl)] |
