Flexible Plastic OLED Video Display Screen Exhibited at Universal Display Corporations' Annual Meeting.Business Editors/Hi-Tech Writers EWING, N.J.--(BUSINESS WIRE)--June 28, 2001 Universal Display Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : PANL PANL Provincial Archives of Newfoundland and Labrador (Canada) ; PHLX PHLX See: Philadelphia Stock Exchange PHLX See Philadelphia Stock Exchange (PHLX). : PNL), a leading developer of Organic Light Emitting Device (OLED (Organic Light Emitting Device, Organic Light Emitting Diode) A thin film light-emitting technology that is expected to compete with LCD and plasma TVs as well as LCD monitors and readouts. ) technology, conducted its annual meeting today and showed its shareholders a flexible, plastic display with video pictures displayed using the company's phosphorescent phos·pho·res·cence n. 1. Persistent emission of light following exposure to and removal of incident radiation. 2. Emission of light without burning or by very slow burning without appreciable heat, as from the slow oxidation of OLED technology. The green and red monochrome screens were linked to a video camera screen and featured full-motion video. The FOLED FOLED Flexible Organic Light-Emitting Display FOLED Flexible Organic Led (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 In computing, a grayscale or greyscale digital image is an image in which the value of each pixel is a single sample. Displayed images of this sort are typically composed of shades of gray, varying from black at the weakest intensity to white at the strongest, though in , >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 TOLED Transparent Organic Light Emitting Diode (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 Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. Steven V. Abramson, provided his insights on the future of OLED technology, and its ability to make inroads inroads Noun, pl make inroads into to start affecting or reducing: my gambling has made great inroads into my savings inroads npl to make inroads into [+ into the flat panel display A thin display screen for computer and TV usage. The first flat panels appeared on laptop computers in the mid-1980s, and the LCD technology became the standard. Stand-alone LCD screens became available for desktop computers in the mid-1990s and exceeded sales of CRTs for the first time (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 reappointment Hospital practice The renewal of medical staff membership and privileges of a practitioner whose previous service on the medical staff has met the staff's standard of Pt care. See Appointment. 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 The U.S. News & World Report ranked USC 27th among all universities in the United States in its 2008 ranking of "America's Best Colleges", also designating it as one of the "most selective universities" for admitting 8,634 of the almost 34,000 who applied for freshman admission ; 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 OLEDS Object Linking and Embedding Directory Services , 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 http://www.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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. |
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