Universal Display And Plextronics Announce Strategic Alliance To Develop Next-Generation OLED Material Systems

Universal Display Corporation (NASDAQ:PANL), the leading OLED patent licensor and supplier of materials and technologies for energy-efficient OLED displays and lighting, and Plextronics, Inc., a leader in the development and manufacture of printed electronics technologies, announced today they have entered into a strategic alliance to accelerate the development and commercialization of solution-based OLED material systems incorporating Plextronics’ hole injection and hole transport materials with Universal Display’s phosphorescent OLED emissive layer materials. The companies entered into a three-year joint development agreement, and Universal Display made a $4 million investment in Plextronics.

“This agreement is an important step in Plextronics’ efforts to further advance the development and commercialization of its Plexcore ^® materials for phosphorescent OLED applications,” said Andy Hannah, President and Chief Executive Officer of Plextronics. “Plextronics has worked closely with Universal Display to develop initial Plexcore ^® HIL products for Universal Display’s UniversalP2OLED ^® platform. The results of these efforts were compelling to the point it made sense to expand the relationship to include hole transport layer materials in order to achieve the next level of performance.”

“After several years of collaborating with Plextronics, a leading developer of solution-based materials for OLED and other organic electronic devices, we are very pleased to strengthen our relationship and expand the development of next-generation, solution-processible OLED material systems for displays and lighting,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display. “By combining our UniversalP2OLED ^® printable, phosphorescent OLED material systems with Plextronics’ hole injection and transport materials, our goal is to develop high-performance, solution-based OLED material systems that can enable the implementation of ink-jet, nozzle and other potentially cost-effective, solution-processing manufacturing techniques.”

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 www.universaldisplay.com. To learn more about how Plextronics and its Plexcore® hole-injection and hole transport materials help improve the performance of OLED displays and lighting, please visit www.plextronics.com.

About Plextronics Corporation

Plextronics, Inc. is an international technology company that specializes in conductive polymers and printable formulations that enable advanced electronic devices. Headquartered in Pittsburgh, PA, the company's develops customized inks to enhance the performance of organic light emitting diodes (OLEDs) for next generation displays and lighting applications, lithium ion batteries, polymer metal capacitors, and emerging organic electronic devices.

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