USDC HOSTS SAN FRANCISCO DISPLAY TECHNOLOGY INVESTMENT CONFERENCE

Flat Panel Display Industry Continues to Boom; Sales Expected to Reach $97 Billion Mark by 2008*

SAN JOSE, Calif., July 19, 2004- The U.S. Display Consortium (USDC), a private/public partnership chartered with developing the electronic display industry supply chain, today announced plans for its Display Technology Investment Conference to be held in San Francisco on September 23, 2004.  Co-sponsored by WR Hambrecht + Co, this event will model the successful USDC Display Industry Investment Conference held each year in New York, and will feature presentations by senior-level executives from leading publicly traded companies within the display industry.  The conference aims to educate prominent participants from investment firms, research houses, brokerages and related financial institutions on the latest business trends, advancements and opportunities afforded by the rapidly growing display industry.

According to market research firm DisplaySearch (Austin, Texas), the 2004 flat panel display (FPD) market is expected to rise 51 percent to $65.5 billion, and is predicted to become a $97-billion industry by 2008.*

“As one of the few industries within the electronics sector to witness consecutive banner years since 2002, the FPD market holds tremendous opportunities to open up new applications.  As a result of the surging demand for electronic devices that use displays—such as notebook PCs, desktop monitors and TVs—capital spending on displays and related components is expected to exceed $11 billion this year alone**,” said Michael Ciesinski, president of USDC.  “The San Francisco Display Technology Conference will feature display manufacturers, OEMs and supply-chain companies, making it a promising educational investment opportunity for all who attend,” he added.

Said Mark Specker, managing director of capital markets at WR Hambrecht + Co, “We have closely followed technology and market developments in the display industry for years, and we have raised capital for a number of public and private companies.  Together with USDC, we think this conference will be an excellent opportunity for investors to meet a broad array of leading display technology companies.”

The Display Technology Investment Conference will present more than 20 speakers, including senior executives from Applied Films (NASDAQ: AFCO), Brillian Corporation (NASDAQ: BRLC), eMagin Corp. (AMEX: EMA), Genesis Microchip Inc. (NASDAQ: GNSS), In-Focus Corporation (NASDAQ: INFS), Orbotech Ltd. (NASDAQ: ORBK), Photon Dynamics, Inc. (NASDAQ: PHTN), Pixelworks, Inc. (NASDAQ: PXLW), Supertex, Inc. (NASDAQ: SUPX), Three-Five Systems, Inc. (NYSE: TFS), Trident Microsystems, Inc. (NASDAQ: TRID) and Universal Display Corporation (NASDAQ: PANL).  There will also be a display industry market analysis and forecast presented by DisplaySearch, as well as presentations from several private companies including Applied Photonics, Inc., NeurOK Optics, LLC and Optiva, Inc.

USDC will also present a brief display tutorial before the conference starts, which will provide an in-depth understanding of the FPD industry for research analysts and other investment professionals. Among the topics to be addressed in the tutorial is the emergence of FPDs in new applications such as rear-seat automotive entertainment, medical systems, domestic appliances, videophones, military and homeland security, among others.  In addition, the conference will feature panel sessions on next-generation liquid crystal display (LCD) manufacturing, as well as emerging technologies, markets and applications.

The Display Technology Investment Conference will be held at the Pan Pacific Hotel in San Francisco on September 23, 2004.  To register for the conference or view a detailed conference agenda, please visit www.usdc.org.  Companies interested in presenting at the conference should contact Heidi Hoffman at (408) 277-2400, or heidi@usdc.org.

For more information, please contact:
US Display Consortium
Heidi Hoffman
84 W. Santa Clara Street, Ste. 790
San Jose, CA 95113
(408) 993-8111
heidi@usdc.org

About the U.S. Display Consortium
The U.S. Display Consortium is an industry-led public/private partnership providing a common platform for flat panel display and flexible microelectronics manufacturers and developers, FPD users, and the supplier base. Headquartered in San Jose, Calif., the consortium’s primary mission is to fund supply-chain projects and share the results with USDC member companies. The USDC also provides a communication channel among industry, government and the financial communities for display issues; sponsors workshops to broaden the impact of technological developments; and educates consumers on the importance of displays in providing access to information technology. More information about the USDC can be found at www.usdc.org

About WR Hambrecht + Co
WR Hambrecht + Co (www.wrhambrecht.com) is a financial services firm committed to using the Internet and auction process to level the playing field for investors and issuers.  The firm’s impartial internet-based auctions, which allow the market to determine pricing and allocation, are dramatically changing the financial services landscape.  WR Hambrecht + Co provides underwriting and advisory services for technology and emerging growth companies, as well as equity research, sales and trading, full-service and online brokerage and private equity offerings for institutions and individuals.  WR Hambrecht + Co has offices in San Francisco, New York, Boston, Philadelphia and Chicago and is backed by industry leaders including:  American Century, American Express, Crimson Ventures, epartners, Fidelity Ventures, Instinet Corporation, Novell, Park Avenue Equity Partners, LP, Scudder Technology Fund, Kemper Technology Fund and Texas Pacific Group.   Member NASD/SIPC.

*According to DisplaySearch’s Q2 ’04 Quarterly Worldwide FPD Forecast Report

**According to DisplaySearch’s Q2 ‘04 Quarterly Supply/Demand and Capital Spending Report