LG.Philips Displays announces new name and logo

HONG KONG, March 16 /PRNewswire/ --

- New name reinforces company's leadership role in global CRT market

LG.Philips Displays today is pleased to unveil a new brand and change in name from LG.Philips Displays to LP Displays.

The name and stylized logo reflect LP Displays' new corporate status while saluting the company's roots as a joint venture between LG Electronics and Royal Philips Electronics and reinforce its position as one of the world's leading global suppliers of picture tubes used for television sets and computer monitors.

Today's announcement is an important step forward for LP Displays and reflects the management and financial stakeholders' confidence in both the future of the company and the CRT business.

LP Displays will continue to focus its business on the strong demand for competitively priced high performance CRTs and growing demand for its SuperSlim and UltraSlim CRTs particularly in emerging markets.

Global demand for CRT remains strong. LP Displays President and CEO, Mr. Jeong IL Son, explained, "Of the countries with the highest populations, the majority will be CRT customers for the foreseeable future. Markets in Asia and South America offer the company an exciting challenge going forward, and the UltraSlim and SuperSlim series provide LP Displays with the competitive advantage it needs to capture this tremendous opportunity."

LP Displays' management team will remain in Hong Kong under the leadership of Mr. Son, and the company will continue to serve its global markets with its plants in Brazil, China, Indonesia, and Korea and component operations in the Netherlands and United Kingdom employing over 11,000 people.

Today's announcement paves the way for the company's upcoming change in ownership structure, to be announced at a later date. The new name and brand are effective April 1, 2007.

About LG.Philips Displays

LG.Philips Displays is a market leader in cathode ray tubes for use in televisions and computer monitors. The company produces one in every four television and computer monitor tubes sold. Making use of its global manufacturing infrastructure, it provides regional supplies to top TV and monitor brands worldwide. LG.Philips Displays continues to be committed to the CRT industry and will maintain a strong profile based on its competitive operations and innovative, high-quality products

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