For Universal Display Corporation: Dean Ledger …

For Universal Display Corporation:

Dean Ledger                                         Gregory FCA Communications
800-599-4426                                        Investor contact: Paul Johnson
                                                    paul@gregoryfca.com
                                                    610-228-2113

                                                    Media contact: Matt McLoughlin
                                                    matt@gregoryfca.com
                                                    610-228-2123


FOR IMMEDIATE RELEASE


     UNIVERSAL DISPLAY CORPORATION AND LG DISPLAY CO.
    EXHIBIT LATEST FLEXIBLE ACTIVE-MATRIX OLED DISPLAY
      PROTOTYPE AT 2008 SID CONFERENCE AND SYMPOSIUM

 Companies showcase prototype advances, including brighter colors, improved color saturation
      and color gamut, and one-sided electrical interconnection for enhanced flexibility


Ewing, New Jersey--May 20, 2008 ­ Universal Display Corporation (NASDAQ: PANL), an
innovator behind today and tomorrow's displays and lighting through its Universal PHOLEDTM
phosphorescent OLED technology, and LG Display (NYSE: LPL, KRX: 034220), a leading
innovator of thin film transistor liquid crystal display (TFT-LCD), announced today the joint
development of a flexible, full-color, active-matrix OLED (AMOLED) display prototype. Built
on thin metallic foil, these prototypes are being showcased at each company's booth during the
2008 Society for Information Display Conference and Symposium at the Los Angeles
Convention Center in Los Angeles, CA. LG Display (LGD) is located at Booth #519 and
Universal Display is located at Booth #260.


The four-inch diagonal, QVGA full-color AMOLED display prototype combines LGD's
amorphous-Silicon backplane technologies with Universal Display's OLED frontplane
technologies, including its high-efficiency Universal PHOLEDTM and transparent compound-
cathode TOLED® technologies. Building on the foundation of the jointly-developed prototype
shown at last year's SID Exhibition, this new demonstrator offers enhanced brightness, improved
color saturation, broader color gamut and a one-sided electrical interconnection, making it the
most advanced flexible OLED display built on metallic foil using a-Si backplane technology to
date.


"Continuous collaborative efforts by UDC and LGD have resulted in another big step forward in
flexible AMOLED," said In Jae Chung, Executive Vice President and Chief Technology Officer
of LG Display. "Great teamwork between two companies has yielded consistent quality
upgrades of flexible AMOLED in a short period and we expect more technological achievements
in the future for realizing its full potential in real world applications."


"LG Display has been an excellent partner in advancing flexible AMOLEDs toward commercial
practicability, and our success has been driven by strong, collaborative team work," said Steven
V. Abramson, President and Chief Executive Officer of Universal Display. "In just over a year,
our collaboration with LGD has yielded significant gains in the design and functionality of
flexible OLED displays. As we continue to work with LGD, we anticipate that our joint
development will drive continued progress in flexible OLED technologies for military and
commercial applications."


The development of this prototype has been, in part, supported by the U.S. Department of
Defense through the Battle Command Interface Branch of the U.S. Army Communication
Electronics Research and Development Engineering Center (CERDEC). This work also
complements flexible display development ongoing at the U.S. Army's Flexible Display Center
at Arizona State University, of which Universal Display is a founding member and LGD recently
joined as an Associate member.


Flexible OLED displays are widely considered to be an important future display technology with
prospective use in numerous commercial and military applications, including portable
electronics, such as a wrist-mounted PDA or a roll-out display in a wireless communications
device.
About LG Display

LG Display Co., Ltd [NYSE: LPL, KRX: 034220] is a leading manufacturer and supplier of thin-film
transistor liquid crystal display (TFT-LCD) panels, OLEDs and flexible displays. The company
provides TFT-LCD panels in a wide range of sizes and specifications for use in TVs, monitors,
notebook PCs, and various applications. LG Display currently operates seven fabrication facilities
and five back-end assembly facilities in Korea, China and Poland. The company has a total of 22,000
employees operating in ten countries around the world. Please visit www.lgdisplay.com for more
information.


About Universal Display Corporation

Universal Display Corporation is a world leader in developing and commercializing innovative
OLED technologies and materials for use in flat panel displays, solid-state lighting products,
electronic communications and other opto-electronic devices. Universal Display is working with
a network of world-class organizations, including Princeton University, the University of
Southern California, the University of Michigan, and PPG Industries, Inc. Universal Display
currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 825
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 and materials development, technology
transfer to manufacturing partners and work with customers to develop OLED products that meet
their needs. 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
technologies and potential applications of those technologies, 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 "Risk Factors" in Universal Display Corporation's annual report on Form 10-K for
the year ended December 31, 2007. Universal Display Corporation disclaims any obligation to update any forward-
looking statement contained in this document.