Universal Display Corp (OLED)

[FreeGrass]

Massive dilution on the way for PANL!


Annual Meeting of Shareholders

Dear Shareholders:

You are cordially invited to attend our 2010 Annual Meeting of Shareholders on Thursday, June 24, 2010, at 4:00 p.m., Eastern Time, at the Crowne Plaza Hotel (formerly the Holiday Inn on City Line Avenue), 4010 City Avenue, Philadelphia, Pennsylvania 19131. We are holding the meeting to:

(1)

Elect seven members of our Board of Directors to hold one-year terms;

(2)

Approve an amendment to our Amended and Restated Articles of Incorporation to increase the authorized shares of our capital stock from 55,000,000 to 105,000,000;

(3)

Ratify the appointment of KPMG LLP as our independent registered public accounting firm for 2010; and

(4)

Transact any other business that may properly come before the shareholders at the meeting.

If you were the record owner of shares of our common stock at the close of business on April 8, 2010, you may attend and vote at the meeting. If you cannot attend the meeting, you may vote by returning the enclosed proxy card or, if you hold your shares in “street name,” the enclosed voting instruction form. Any shareholder of record may vote in person at the meeting, even if he or she has already returned a proxy card. A list of all shareholders of record will be made available for review by registered shareholders both at the meeting and, during regular business hours, at our headquarters in Ewing, New Jersey for 10 days prior to the meeting.

We look forward to seeing you at the meeting.

Sincerely,
Sidney D. Rosenblatt