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Universal Display Corporation Holds 2013 Annual Meeting of Shareholders

  Universal Display Corporation Holds 2013 Annual Meeting of Shareholders

    Announces New Stock Symbol: NASDAQ: OLED and new URL – www.udcoled.com

Business Wire

EWING, N.J. -- June 20, 2013

Universal Display Corporation (NASDAQ:PANL), enabling energy-efficient
displays and lighting with its UniversalPHOLED® technology and materials,
today held its 2013 Annual Meeting of Shareholders. In addition to updating
shareholders on its strong growth over the past year, Universal Display
Corporation announced that it was changing its stock symbol - to OLED – and
its URL – to www.udcoled.com.

In presiding over the Annual Meeting, Steven V. Abramson, Universal Display’s
President and Chief Executive Officer, announced, “Universal Display is well
positioned to leverage the burgeoning organic light emitting diode (OLED)
industry, which is on the cusp of rapid growth. Over our 15-year journey,
we’ve grown into a leading OLED technology, material and service provider to a
global list of premier display and lighting manufacturers. With increasing
signs of the OLED market’s robust trajectory coupled with our expanding
relationships, we believe now is the opportune time to leverage Universal
Display’s strong brand identity by appropriately aligning our public persona
with the OLED name by adopting it in both the public stock market and across
our web properties.”

A YEAR OF OUTSTANDING GROWTH

During the course of the meeting, Mr. Abramson also reviewed Universal
Display’s record of growth across virtually all dimensions of the business,
including revenues, earnings, patent portfolio, product portfolio, employees,
customers, physical plant, commercial and research partnerships and geographic
footprint.

2012 was very successful from a financial growth perspective, with the company
reporting its second consecutive profitable year. Furthermore, net income more
than tripled, operating income rose 141% and revenues were up 36% compared to
2011.

Mr. Abramson also noted a number of major business milestones achieved during
2012, highlighted by the purchase of Fujifilm’s portfolio of more than 1,200
OLED worldwide patents and patent applications. This acquisition nearly
doubled Universal Display’s existing patent portfolio, while also enabling the
company to explore new and exciting areas of OLED materials and product
development. In addition, the company announced that its newly introduced
phosphorescent green host and emitter materials have been adopted for
commercial production by a leading global display manufacturer. “We believe
that the commercial implementation of a second color material and technology
is a clear sign that Universal Display’s products are being more widely
adopted in the market, marking yet another milestone along the Company’s
strategic growth path to further encourage broader adoption of OLED technology
and materials throughout the display and lighting markets.”

“The markets for OLED technology are rapidly developing, driving Universal
Display’s growth path,” said Mr. Abramson. “Innovation throughout the global
OLED display and lighting markets is a hallmark of Universal Display, and we
are seeing increasing demand for our PHOLED technologies and materials, which
is contributing to our strong performance. Our expanding product and patent
portfolio is paving the way for Universal Display to extend its position as a
global leader in OLED technology, materials and services.”

STOCK SYMBOL AND URL CHANGING

The stock symbol change to OLED on NASDAQ will become effective before the
market opens on June 24, 2013. The new Universal Display Corporation domain
name for its website (http://www.udcoled.com) will go live on June 24, 2013.
Visitors and emails sent to the old domain name,
http://www.universaldisplay.com, will be automatically redirected. UDC
recommends that press, analysts, investors, and customers update their
bookmarks now, as well as any email addresses in their address book.

The audio portion of the annual meeting presentation was simultaneously
broadcasted over the Internet through a webcast on the company’s website. For
an audio archive of the presentation, please visit the “Events” section of
Universal Display’s website at www.universaldisplay.com. This archive will be
available through July 6, 2013.

To see how Universal Display is changing the face of the display and lighting
industries with its UniversalPHOLED®, white OLED, and flexible OLED
technologies, please visit the company at http://www.universaldisplay.com.

About Universal Display Corporation

Universal Display Corporation (Nasdaq: PANL) is a leader in developing and
delivering state-of-the-art, organic light emitting diode (OLED) technologies,
materials and services to the display and lighting industries. Founded in
1994, the company currently owns or has exclusive, co-exclusive or sole
license rights with respect to more than 3,000 issued and pending patents
worldwide. Universal Display licenses its proprietary technologies, including
its breakthrough high-efficiency UniversalPHOLED^® phosphorescent OLED
technology, that can enable the development of low power and eco-friendly
displays and white lighting. The company also develops and offers
high-quality, state-of-the-art UniversalPHOLED materials that are recognized
as key ingredients in the fabrication of OLEDs with peak performance. In
addition, Universal Display delivers innovative and customized solutions to
its clients and partners through technology transfer, collaborative technology
development and on-site training.

Based in Ewing, New Jersey, with international offices in Ireland, South
Korea, Hong Kong, Japan and Taiwan, Universal Display works and partners with
a network of world-class organizations, including Princeton University, the
University of Southern California, the University of Michigan, and PPG
Industries, Inc. The company has also established relationships with companies
such as AU Optronics Corporation, DuPont Displays, Inc., Innolux Corporation,
Konica Minolta Technology Center, Inc., LG Display Co., Ltd., Lumiotec, Inc.,
Moser Baer Technologies Inc., Panasonic Idemitsu OLED Lighting Co., Pioneer
Corporation, Samsung Display Corporation, Seiko Epson Corporation, Sony
Corporation, Showa Denko K.K., and Tohoku Pioneer Corporation. To learn more
about Universal Display, please visit www.universaldisplay.com.

Universal Display Corporation and the Universal Display logo are trademarks or
registered trademarks of Universal Display Corporation. All other company,
brand or product names may be trademarks or registered trademarks.

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, 2012. Universal Display Corporation
disclaims any obligation to update any forward-looking statement contained in
this document.

Contact:

Investor Relations:
Universal Display
Darice Liu, 609-671-0980 x558
dliu@universaldisplay.com
or
Media Contact:
Gregory FCA
Matt McLoughlin, 610-228-2123
matt@gregoryfca.com