Universal Display Corporation Strengthens Management Team With Addition Of New Vice President Mauro Premutico

Universal Display Corporation (NASDAQ: PANL), enabling energy-efficient displays and lighting with its UniversalPHOLED ® technology and materials, today announced that Mr. Mauro Premutico, previously Managing Vice President and Chief Patent Counsel at The Walt Disney Company, has joined the company as Vice President, Legal and General Manager, Patents and Licensing. Premutico brings decades of experience in patent protection, intellectual property law, and licensing to Universal Display.

“We are delighted to have Mauro join our management team as we continue to build our company as the leading OLED technology developer and material supplier to the display and lighting industries,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display. “Mauro will lead our strategic initiatives to manage, defend, and further enhance our intellectual property. With his years of international experience in patent enforcement and defense as well as license negotiations, Mauro will play a key role as we move into the next phase of growth for our customers and shareholders.”

While at The Walt Disney Company as Managing Vice President and Chief Patent Counsel, Premutico managed the patent legal and corporate technology licensing teams for all Disney companies, served as lead negotiator on all significant patent and technology licensing matters, and developed teams that monetized Disney’s patent assets.

Before Disney, Premutico worked as Vice President, Intellectual Property Law and Licensing and Assistant General Counsel at Lenovo Group Holdings, where he helped build and oversaw its patent portfolio management and licensing teams in the U.S., China, and Japan. Before serving as Special Counsel at the law firm of Cleary Gottlieb Steen & Hamilton in New York, N.Y., where he was co-head of the Intellectual Property and Technology Practice, Premutico served as Vice President, Intellectual Property and Assistant General Counsel at Symbol Technologies, where his responsibilities included enforcement of its patents and negotiating key technology transactions.

Premutico’s experience and expertise will help him succeed in managing Universal Display’s patent portfolio, which is one of the largest in the OLED field and includes licensing rights to over 1,400 issued and pending patents worldwide in a broad array of OLED technologies, materials, and processes. Universal Display has entered into more than 30 business agreements with leading manufacturers in Japan, Korea, Taiwan, China, Europe, and the U.S.

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 1,400 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., Lumiotec, Inc., Moser Baer Technologies Inc., Panasonic Idemitsu OLED Lighting Co., Pioneer Corporation, 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, 2011. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

Copyright Business Wire 2010

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