An LED mounting retainer and a printed circuit board display using such retainer for firmly mounting LED's on a printed circuit board with the LED axis parallel to the board and spaced at a precisely determined standoff distance from the board. The retainer is a unitary injection molded plastic element having a body and a locking member joined by a hinge. The body has a recess for receiving the LED, the recess having apertures for allowing the LED leads to project therethrough. The locking member in being pivoted to a locked position engages the leads to bend them about 90.degree. from their initial orientation, causing the leads to project below a mounting surface on the LED retainer, to produce a right angle indicator assembly.