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Universal Display Announces Share Offering

EWING, N.J. — Universal Display Corporation (NASDAQ: PANL), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced the pricing of its public offering of 5,000,000 shares of its common stock at $46.00 per share. The Company has granted the underwriters an option to purchase up to an additional 750,000 shares during the next 30 days to cover over-allotments, if any. The Company estimates that the net proceeds from this offering, before offering expenses, will be approximately $217,350,000, or approximately $249,952,500 if the underwriters’ over-allotment option is exercised in full. The proceeds of the offering will be used for general corporate purposes, including the acquisition, development and license of properties, assets, entities or technologies.

The offering is expected to close on March 30, 2011. The book-running manager for this offering is Goldman, Sachs & Co., and the lead managers are Goldman, Sachs &Co. and UBS Investment Bank. Canaccord Genuity, Cowen and Company, Needham & Company, LLC, Oppenheimer & Co., Avian Securities, LLC, Davenport & Company LLC and Fagenson & Co., Inc. are also acting as underwriters.

The Company has filed a registration statement (including a prospectus) with the Securities and Exchange Commission for the offering to which this communication relates. The offering has been made solely by means of the prospectus and the related prospectus supplement. Copies of the prospectus and prospectus supplement relating to this offering may be obtained from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, facsimile: (212) 902-9316, email prospectus-ny@ny.email.gs.com.

This release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

{complink 5852|Universal Display Corp.}

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