- 8 May 2006 -

OLEDs: Universal Display Corporation extends sponsored research program

Universal Display Corporation has signed agreements with no less than three leading research institutes to advance its OLED sponsored research. Recipients are the University of Michigan, Princeton University and the University of Southern California, and they will receive funds up to $4.6 m under the direction of Professors Stephen R. Forrest and Mark E. Thompson at their respective institutions over the next three years. UDC has already funded over $7.5 m in sponsored research at Princeton University and the University of Southern California since 1994.

The new agreements follow Professor Forrest's recent move from Princeton University to the University of Michigan, where he is now Vice President for Research and a Professor of Electrical Engineering & Computer Science, Physics, and Materials Science & Engineering. Professor Thompson is Professor and Chair of the Chemistry Department in the College of Letters, Arts and Sciences at the University of Southern California. Patents derived from the research program will continue to be licensed exclusively to Universal Display, with Princeton University managing the patent portfolio on behalf of all three universities.

"These agreements build on the exceptional relationships that we have had for 13 years with Stephen Forrest and Mark Thompson, who have been true pioneers in the OLED field," said Steven V. Abramson, President and Chief Operating Officer of Universal Display. "Our industry-academic collaboration has been extremely productive in generating breakthrough OLED technology, and will serve as a continued cornerstone of the Company's innovation strategy. We are very excited to enter into this next chapter with Professors Forrest and Thompson to continue the development of state-of-the-art OLED technology and to explore broader organic electronics opportunities for the future."
"Universal Display has been instrumental in advancing the state of OLED research through their vision and support," stated Professor Forrest. "Universal Display has built a highly talented team and world-class facilities to take our collaborative research and prepare it for commercialization. I am very pleased to have this opportunity to continue this longstanding relationship with Universal Display and Professor Thompson. Certainly, a 13-year relationship such as this one, which has been productive through many changes in both business and academic circumstances, is extremely unusual."
"I am very happy to be continuing this outstanding collaboration with Steve Forrest, his research group, and the team at Universal Display," said Professor Thompson. "Together, we have achieved a number of breakthroughs for the OLED field. I believe that the next phase of this research could lead to even more exciting developments."

Past research by Professors Forrest and Thompson has yielded such award-winning OLED innovations as the Company's high-efficiency PHOLED(TM) phosphorescent OLED technology and materials. In addition, they have pioneered OLED materials and device structures for transparent OLEDs, demonstrated the first small-molecule flexible OLED, and are leading authorities in the field of high-efficiency white OLED technology. To date, the Company's relationships with Professors Forrest and Thompson have yielded more than 110 U.S. patents. Their work under the new agreements will continue to focus on advances in these areas, while at the same time supporting their cutting-edge organic electronics research.

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