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SFC Co., Ltd. and Universal Display Corporation Enter into Strategic Business Agreement

^{Published on 2008-12-02 14:29:17, Last Modified on 2009-11-02 16:34:58 - Market Wire}
 

EWING, N.J.--([ BUSINESS WIRE ])--Universal Display Corporation (NASDAQ: PANL), a key innovator behind today and tomorrow's displays and lighting through its high-efficiency UniversalPHOLED™ technology, and SFC Co., Ltd., a fine chemicals manufacturer leading the edge of OLED materials, announced today that the companies have entered into a strategic business agreement to develop and commercialize highly-efficient phosphorescent OLED material systems.

Based on Universal Display's proprietary UniversalPHOLED technology, Universal Display will support SFC's development and marketing of phosphorescent hosts and other non-emitter materials that are matched to Universal Display's phosphorescent OLED emitter materials. The companies will market and sell their respective materials that result from the collaboration. As part of the arrangement, SFC will transfer certain existing phosphorescent emitter materials to Universal Display, including manufacturing and sales of these materials.

"We are delighted to begin this collaboration with SFC, a highly respected Korean developer and manufacturer of OLED materials," says Steven V. Abramson, President and Chief Executive Officer of Universal Display. "By combining our UniversalPHOLED emitter materials with SFC's hosts and other OLED materials, we hope to further accelerate the availability of high-performance phosphorescent materials systems for manufacturers of OLED display and lighting products."

"We are quite certain that the cooperation provides both of us with solid and much bigger business potentials by the ideal combination of the key elements of competitivenessfrom two companies," stated Dr. Yong-Kwan, Kim, CEO of SFC Co., Ltd. "We believe that the combined effect of SFC's long-term accumulated capabilities about OLED material systems and UDC's PHOLED emitter technology will deliver a wider range of advantages to our customers, contributing to push the market forward."

Universal Display's proprietary PHOLED technology offers up to four times higher efficiency than conventional OLED technology – a feature that is very important for today's battery-operated cell phones and other portable devices, as well as for tomorrow's large-area TVs and solid-state lighting products. Today, manufacturers are increasingly adopting phosphorescent OLED technology for this improved performance. Universal Display is marketing and selling its PHOLED emitter materials and licensing its PHOLED technology for commercial use and evaluation.

As the OLED market matures, it will expand beyond small-sized displays to include large-area displays and lighting applications within the foreseeable years. SFC's continued challenges for developing high performance OLED materials to meet the requirements will be more powered than ever through the strategic cooperation. SFC has been and will provide proven performances, not only for the current market but also for the upcoming consumer markets.

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 research organizations and companies to accelerate the development of state-of-the-art materials and technology for the OLED industry. Universal Display has also established commercial relationships with numerous OLED display and lighting manufacturers. Universal Display currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 850 issued and pending patents worldwide.

Universal Display is located in the Princeton Crossroads Corporate Center in Ewing, New Jersey. 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 ].

About SFC Co., Ltd.

SFC Co., Ltd. is a fine chemicals company with focuses on electronic applications. SFC Co., Ltd. has been leading key OLED materials market for more than 9 years in Korea – the most active marketplace in the world – and is uniquely positioned to offer innovative solutions to the major players like Samsung Mobile Display and LG Display.

SFC Co., Ltd. has been enjoying commercial success in introduction of new products thanks to the seamless interaction with the market settlers and the sharp focalization on customers' future needs. In response to the market expansion, SFC Co., Ltd. will continue to reinforce its core competence to offer better products to the field of organic electronics sector. For more information, please visit SFC Co., Ltd. on the Web at [ www.sfc-dye.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.