Universal Display Reports New Red Phosphorescent OLED Materials With
Significant Power Efficiency Advances
EWING, N.J., Oct 19, 2001 (BUSINESS WIRE) -- Dr. Raymond Kwong, a senior
scientist at Universal Display Corporation (NASDAQ:PANL; PHLX:PNL), a leading
developer of flat panel display technology, reported, in a late news paper
entitled "Extremely Efficient Red Electrophosphorescent Devices" at the 21st
International Display Research Conference held October 16th through October 19th
in Nagoya, Japan, that it has developed new red phosphorescent materials that
are up to five times more power efficient than conventional fluorescent
materials in organic light emitting devices (OLEDs) for full-color displays.
These results are further evidence of the advantages of the phosphorescent
materials system that it is developing with its research partners at the
University of Southern California and Princeton University and with its
materials development and supply partner, PPG Industries, Inc.
Dr. Kwong reported on a new class of organometallic complexes as red
phosphorescent dopants for full-color OLED displays. These red materials and the
OLED architectures into which they are incorporated represent a key advance in
the development of the Company's full-color materials system that the Company
refers to as "PHOLED(TM)" technology.
This new class of red PHOLEDs exhibits luminous efficiencies that are up to five
times greater than today's highest-reported results for red fluorescent OLEDs.
In addition, these materials offer excellent red color performance. In his
paper, Dr. Kwong cited a range of new, ultra-high efficiency, red PHOLEDs that
achieve 11 candelas/amp (cd/A) for true red (CIE=0.65, 0.35) to 28 cd/A for
orange-red (CIE=0.60, 0.40).
"Because one of the key limitations of the power dissipation of a full-color
OLED display is the efficiency of the red component, this advance is
particularly significant," states Steven V. Abramson, the Company's President.
"This breakthrough should enable full-color OLED displays to have significantly
reduced power consumption compared to fluorescent-based OLEDs as well as today's
backlit liquid crystal displays. This power savings will translate into longer
battery life, especially important for mobile display applications," he added.
At another recent conference, Dr. Kwong delivered a paper entitled "Long
Lifetime Electrophosphorescent Devices" and discussed advances in the
performance and lifetimes of UDC's red- and green-emitting PHOLED(TM) materials
for full-color OLED displays.
About Universal Display Corporation
Universal Display Corporation is a world leader in developing and
commercializing innovative OLED technologies. It recently completed a $25
million private placement, consisting of $10 million in convertible preferred
stock and $15 million in secured convertible debentures. The Company 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
focusing on OLED television monitors; a joint development agreement with Samsung
SDI focusing on portable displays; a strategic relationship for the
commercialization and production of proprietary high efficiency OLED materials
with PPG Industries, 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 UDC's proprietary organic vapor phase deposition
(OVPD) technology; and sole subcontracting rights to Motorola's OLED patent
portfolio. UDC 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. In the second
quarter 2001, Universal Display Corporation entered into a lease for an
additional 10,000 square feet, which it expects to complete and occupy in the
fourth quarter. 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 of
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
the timing of the effectiveness of a registration statement filed with the SEC,
the timing of funding of the purchase price for securities, the availability to
the company of the proceeds from the sale of securities, the anticipated uses of
the proceeds from the sale of securities, any financial forecasts and 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, PHOLED 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, devanson@gregoryfca.com
Garrett Allen, garrett@gregoryfca.com
610/642-8253
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