Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Zenith - One and Only -- Ignore unavailable to you. Want to Upgrade?

To: Terry Berg who wrote (4560)	3/6/1998 2:12:00 AM
From: flickerful	Read Replies (1) \| Respond to of 6570

Organic Light BALA CYNWYD, Pa.--(BUSINESS WIRE)--March 4, 1998-- Universal Display Corp. (UDC) is Exclusive Licensee from Princeton University of this High Resolution Organic Light Emitting Diode (OLED) Technology Universal Display Corp. (NASDAQ:PANL), a developer of flat panel display technology, announced today that its research partner, Princeton University, was awarded U.S. Patent No. 5,721,160 entitled "Multicolor Organic Light Emitting Devices." UDC has the exclusive worldwide license to this patent. "This is the third patent to be issued out of the Organic Light Emitter Project between Universal Display Corporation, Princeton University and the University of Southern California in the past 2 months," said Steven V. Abramson, president and chief operating officer of Universal Display Corp. This patent relates to packaging and sealing aspects of our proprietary technology, important aspects of our commercialization program. This is another step toward our ultimate goals, which should enable such future applications as high-definition televisions (HDTV) on flat panel displays that hang on a wall like a painting and cellular phones, laptop computers and other portable devices with bright displays that consume considerably less energy. The rapidly growing display market is currently estimated at $35 billion annually worldwide, comprised mostly of cathode ray tube (CRT) and liquid crystal display (LCD) technologies. OLEDs are seen as a future replacement technology for CRTs and LCDs, due to their brightness, high resolution, energy efficiency and cost effectiveness. The Company's proprietary technology centers around three important technology platforms---transparency, flexibility and full-color, vertically stacked pixels. This should allow for light weight, portable and flexible flat panel displays. More than 40 patents have been filed in the United States since this project began, and corresponding international patent applications have been filed. UDC is the exclusive licensee of all technology developed in the project. UDC recently announced an expanded five year strategic partnership with Princeton University and the University of Southern California for the Organic Light Emitter Project, where the Universities became shareholders in UDC, and UDC committed to continue funding the Project for the next five years for applications such as flat panel displays, lasers and light. Universal Display Corp. is the newest member of the United States Display Consortium (USDC) a cooperative industry/government effort aimed at developing an infrastructure to support a North American flat panel display (FPD) industry. UDC is part of a team including Princeton, USC and Hughes Electronics which is working under a $3 million award from the U.S. Department of Defense Advanced Research Projects Agency (DARPA) for the continued development of ultra light-weight, full-color OLED flat panel display technology. UDC and Princeton are also teaming on a Phase I STTR grant from the National Science Foundation and a grant from the New Jersey Commission on Science and Technology. In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the company notes that statements in this press release and elsewhere that look forward in time, which include everything other than historical information, involve risks and uncertainties that may cause actual results to differ materially from those indicated by the forward-looking statements. Factors that could cause the company's actual results to differ materially from those indicated in this press release include, among others, its ability to achieve further technology breakthroughs necessary to produce commercially viable devices and other factors discussed in the company's filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended Dec. 31, 1996 and subsequent quarterly reports on Form 10-Q. CONTACT: Universal Display Corp. Dean Ledger, executive VP 800/599-4426 ------------------------------------------------------------------------