Universal Display Expands Presence in Japan with New Subsidiary

Universal Display Corporation (NASDAQ: PANL), enabling energy-efficient displays and lighting with its UniversalPHOLED^® technology and materials, today announced that the company has established a new subsidiary in Japan to better serve and support the needs of the company’s OLED display and white lighting customers and partners in the country. The new subsidiary, Universal Display Corporation Japan KK, is headquartered at 6-12 Nishi-Shinbashi, 1-Chome, Minato-ku, Tokyo 105-0003. As part of the growth in Japan, Universal Display is pleased to announce that Dr. Kentaro Harada has joined the new subsidiary as Key Technical Account Manager, Japan.

Energy-efficient OLED lighting, enabled by the company’s UniversalPHOLED technology and materials, is emerging as a market with significant growth potential in Japan over the next few years. The new Japanese subsidiary creates a foundation for expanding the company’s technical support and service capabilities in Japan, augmenting the ongoing business support that Mr. Ichiro Nakagawa and N’s Network, which is located at 7-10-6-704 Akasaka, Minato-ku, Tokyo 107-0052, have provided to Universal Display in Japan for more than a decade and a half.

"Establishing a subsidiary in Japan further demonstrates Universal Display’s commitment to providing comprehensive business and technical support to its OLED customers and partners in Japan,” said Ichiro Nakagawa, Universal Display’s Official General Representative. "With the OLED markets poised for growth, Universal Display is well positioned to expand its presence here to support our relationships with OLED display and white OLED lighting companies in Japan.”

"By establishing a subsidiary in Japan, Universal Display can now support its OLED customers and partners with enhanced technical interface and communications in Japan,” added Steven V. Abramson, President and Chief Executive Officer of Universal Display. "Following the formation of our Korean subsidiary, this office further extends the company’s footprint in Asia and better enables us to serve each of our display and lighting customers with our portfolio of proprietary OLED technologies, including our state-of-the-art UniversalPHOLED materials and technology.”

Universal Display is the recognized leader in phosphorescent OLED technology and materials. With a comprehensive patent portfolio and technical expertise that covers these and other OLED technologies worldwide, Universal Display licenses its state-of-the-art OLED technologies, sells its proprietary UniversalPHOLED materials, and provides customized technology development and transfer services to serve the specific needs of its OLED display and lighting customers.

To see how Universal Display is changing the face of the display and lighting industries, please visit the Company at 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 device (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 1,000 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, 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, Chimei Innolux Corporation, DuPont Displays, Inc., Konica Minolta Technology Center, Inc., LG Display Co., Ltd., Moser Baer Technologies Inc., Samsung Mobile Display Co, Ltd., 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, 2010. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.