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Technology Stocks : OLED Universal Display Corp -- Ignore unavailable to you. Want to Upgrade?

To: Savant who wrote (40)	8/6/1999 11:42:00 AM
From: Savant	Read Replies (1) \| Respond to of 29718

Universal Display Signs Agreement with Flat Panel Display Manufacturer BALA CYNWYD, Pa., Aug 6, 1999 (BUSINESS WIRE via COMTEX) -- UniversalDisplay Corporation (UDC) (NASDAQ: PANL; PHLX: PNL), a developer of flat panel display technology, announced today the execution of a letter of intent to license its revolutionary Transparent Organic Light Emitting Device (TOLED) technology to Canadian flat panel manufacturer Luxell Technologies Inc. (LUX: Alberta Stock Exchange). This agreement compresses the timeline for production of flat panel displays with UDC's TOLED technology and further positions the Company to penetrate the $40 billion electronic display market. The agreement will provide for integration of Luxell's proprietary high contrast black layer (B/L) technology with UDC's patented organic electroluminescent technology positioning both companies to expand product lines and business opportunities. The alliance also calls for UDC to provide worldwide licensing of the integrated technology to high volume manufacturers of next generation flat panel displays. "The agreement will further expand our technology capability and its performance, and enable us to speed up the introduction of high contrast OLED flat panel displays to the market by integrating our technology with an established high quality, electroluminescent flat panel display manufacturer," said Steve Abramson, President and Chief Operating Officer of UDC.