Independent Auditors' Consent



The Board of Directors
Universal Display Corporation:

We consent to the incorporation by reference in the registration statements on
Form S-3 (Nos. 333-101733, 333-88950, 333-40760, 333-48810, 333-50990,
333-74854, 333-60856, 333-060854, 333-72846), Form S-8 (No. 333-92649), and Form
SB-2 (No. 333-81983) of Universal Display Corporation and subsidiary (a
development stage company) of our report dated March 11, 2003, with respect to
the consolidated balance sheet of Universal Display Corporation and subsidiary
(a development stage company) as of December 31, 2002 and the related
consolidated statements of operations, shareholders' equity (deficit), and cash
flows for the year ended December 31, 2002 and for the period from June 17, 1994
(inception) through December 31, 2002, which report appears in the December 31,
2002 annual report on Form 10-K of Universal Display Corporation and subsidiary
(a development stage company).

Our report dated March 11, 2003 states that our opinion on the statements of
operations, shareholders' equity (deficit) and cash flows, insofar as it relates
to the amounts included for the period from June 17, 1994 (inception) through
December 31, 2001 is based solely on the report of other auditors, who have
ceased operations.

/s/ KPMG LLP

Philadelphia, Pennsylvania
March 27, 2003