Samsung SDI Co., Ltd. and Universal Display Corporation Announce OLED Patent License Agreement

EWING, N.J. & SEOUL, South Korea--()--April 20, 2005--Universal Display Corporation:

         Samsung SDI Licenses Universal Display's Proprietary
           PHOLED(TM) and Other OLED Technologies for Use in
                   a Broad Range of Display Products


Samsung SDI Co., Ltd. (KSE:006400), a leading company in the fields of PDP, CRT and organic light emitting diode (OLED), and Universal Display Corporation (NASDAQ:PANL), a leading developer of OLED technologies for flat panel displays, lighting and other opto-electronic applications, today announced the signing of an OLED patent license agreement. The agreement paves the way for Samsung SDI to integrate Universal Display's proprietary OLED technologies into Samsung SDI's active-matrix OLED display products. Samsung SDI is today the largest supplier of passive-matrix OLED displays in the world.

Samsung SDI intends to introduce Universal Display's phosphorescent materials and associated technology in Samsung SDI's initial active-matrix OLED products. PHOLEDs have been shown to be up to four times more efficient than traditional fluorescent OLEDs, which is key for lower power consumption, less heat generation and longer operating lifetimes.

"UDC's phosphorescent materials, owing to their overall superiority to fluorescent materials in efficiency and color coordination, will contribute to Samsung SDI to benefit its customers with more visually attractive, much faster, and brighter OLED displays," said Eui Jin Yoo, Vice President and Head of AMOLED Operation Team of Samsung SDI. "The worldwide market for OLED displays is estimated to grow to $5.2 billion in 2008. We also expect that UDC's PHOLEDs having more saturated colors and cost saving advantages over the traditional fluorescent OLEDs would lead the OLED manufacturers to introduce OLED displays into the market quickly."

"Samsung SDI is an excellent partner and industry leader," said Steven V. Abramson, President and Chief Operating Officer of Universal Display. "We have been working with them for over four years, and we have both made significant progress through our collaboration. We are very excited to enter into the next phase of our relationship with Samsung SDI, as they move forward into volume manufacturing using our proprietary technologies. This licensing agreement is an important moment in the history of Universal Display, Samsung SDI and the entire OLED industry."

About Samsung SDI Co., Ltd.

Samsung SDI with 35 years of history is a leading company in the fields of not only the PDP, OLED, Mobile Display but also the CRT that is the initial product of SDI. With the world's best technology, such as the world's largest PDP panel of 102 inch, SGS (Super Grain Silicon) technology for OLED, digital-slim tube, Samsung SDI is leading the digital display world.

Samsung SDI has Seoul headquarters, Corporate R&D center in Kiheung and three domestic plants as well as a world production network of 13 plants based in 7 countries, and it will be the No.1 maker of the display and energy field by enhancing the next generation energy and new material businesses.

Samsung SDI is strengthening the business management of its community, environment and shareholders gaining respect and recognition by the customers and the fellow companies. The company became the first Korean company selected by Dow Jones Sustainability Index.

Visit Samsung SDI on the web at www.samsungsdi.com.

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.

All statements in this document that are not historical, such as those relating to Universal Display Corporation's PHOLED(TM) technology and potential applications of that technology, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation's current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation's periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled 'Factors that May Affect Future Results and Financial Condition' in Universal Display Corporation's annual report on Form 10-K for the year ended December 31, 2004. Universal Display Corporation expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained in this document.

Contacts

Universal Display Corporation
Dean Ledger, 800-599-4426
dledger@universaldisplay.com
or
Samsung SDI Co., Ltd.
Bryan Sohn, 82-2-727-3648
bryan.sohn@samsung.com
or
Gregory FCA Communications
Renee Rozniatoski, 610-642-8253, ext. 43
renee@gregoryfca.com

Contacts

Universal Display Corporation
Dean Ledger, 800-599-4426
dledger@universaldisplay.com
or
Samsung SDI Co., Ltd.
Bryan Sohn, 82-2-727-3648
bryan.sohn@samsung.com
or
Gregory FCA Communications
Renee Rozniatoski, 610-642-8253, ext. 43
renee@gregoryfca.com