Press release

Universal Display Corporation Establishes UDC Ventures

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Display Corporation
(Nasdaq: OLED), enabling energy-efficient
displays and lighting with its UniversalPHOLED®
technology and materials, today announced the formation of UDC Ventures,
the corporate venture arm of Universal Display. With the establishment
of UDC Ventures, Josh Epstein also joins the company as Managing
Partner, where he will be heading the new venture effort and working
closely with the Universal Display management team.

Epstein joins UDC Ventures from Stifel Financial Corp., where he served
as Managing Director. Epstein’s career spans over two decades as an
investment banker, heading global practices focused on electronics,
digital media and emerging technologies. During his banking career,
Epstein worked with a range of IP intensive, technology companies,
helping to enable and define new sectors with an expertise in strategic
advisory, M&A and capital raising.

UDC Ventures, headquartered in New York City, plans to invest in and
partner with entrepreneurs, disruptive start-ups and innovative,
emerging companies with an emphasis on technology platforms that have a
strong proprietary position and significant growth potential. Strategic
sectors of interest include OLED, organic electronics, displays,
lighting, materials science and other related areas. Companies can be at
any stage, ranging from pre-commercial stage research and development to
early prototypes through late stage, established companies. The venture
arm seeks to be an impactful strategic investor, with investments
ranging from seed funding to later stage growth capital.

UDC Ventures is focused on investing in trends that can impact the
technology landscape similar to how OLED technology has impacted the
broader display market. Importantly, UDC Ventures provides the
opportunity for its portfolio companies to partner with Universal
Display Corporation and its platform of global experts in the fields of
IP licensing, materials development and manufacturing and its broad
relationships with technology leaders.

“We are excited to launch UDC Ventures,” said Steven V. Abramson,
President and Chief Executive Officer of Universal Display Corporation.
“Since our beginning as a three-person R&D start-up over 20 years ago,
the drive for innovation and commitment to excellence has propelled
Universal Display into a global leader in the OLED ecosystem. With our
rich history, significant expertise and know-how, we believe that we are
well positioned to be an important, insightful and invaluable partner to
promising companies across a spectrum of emerging and established

To learn more about UDC Ventures, please visit

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in the
research, development and commercialization of organic light emitting
diode (OLED) technologies and materials for use in display and
solid-state lighting applications. Founded in 1994, the Company
currently owns, exclusively licenses or has the sole right to sublicense
more than 5,000 patents issued and pending 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
solid-state 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.

Headquartered in Ewing, New Jersey, with international offices in China,
Hong Kong, Ireland, Japan, South Korea and Taiwan, and wholly-owned
subsidiary Adesis, Inc. based in New Castle, Delaware, Universal Display
works and partners with a network of world-class organizations. To learn
more about Universal Display Corporation, please visit

Universal Display Corporation and the Universal Display Corporation 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, the Company’s expected
results and future declaration of dividends, as well as the growth of
the OLED market and the Company’s opportunities in that market, are
forward-looking financial 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, 2018.
Universal Display Corporation disclaims any obligation to update any
forward-looking statement contained in this document.

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