AVEX Buys Philips' Plant In Ireland.

LONDON--(BUSINESS WIRE)--June 30, 1998--Philips Electronics Ireland Ltd. and U.S.-based AVEX Electronics Incorporated have finalized the sale of Philips' security camera manufacturing plant based in Cork, Ireland to AVEX.

This plant, which employs 110 people, is part of the Video Camera Modules (Philips VCM) business within the Philips Consumer Electronics division. The transaction includes an exclusive agreement for AVEX to continue supplying products currently manufactured in Cork to Philips. This cooperation will further support Philips' plans to grow its security camera business.

AVEX Electronics Incorporated is part of the J.M. Huber Corporation, one of the largest privately-held companies in the world. Huber interests include: electronics, engineered minerals, chemicals, wood products, and energy. AVEX Electronics is one of the world's largest suppliers of integrated engineering and electronics manufacturing services with facilities in Huntsville, Ala.; San Jose, Calif.; Pulaski, Tenn.; Hudson, N.H.; Guadalajara, Mexico; East Kilbride, Scotland; Katrineholm, Sweden; and the Republic of Singapore.

Philips views this proposed arrangement as being a positive one for themselves, AVEX, and for the Cork plant, because of the benefits which will now arise from the facility being more able to realize its full potential as a major supplier of security cameras and related equipment.

For AVEX, this is an opportunity to invest in Ireland by acquiring a proven, high-caliber workforce with an excellent track record. They have a reputation for providing strong designs and high quality products, which are delivered on-time and at competitive prices.

Royal Philips Electronics of the Netherlands is one of the world's biggest electronics companies, with sales of over (US)$39 billion in 1997. It is a global leader in color television sets, lighting, home telephony products, electric shavers and recorded music (PolyGram). Its 264,700 employees in more than 60 countries are active in the areas of semiconductors and components, consumer products, professional products, and systems, lighting, software and services. Philips is quoted on the NYSE, London, Frankfurt, Amsterdam, and the other stock exchanges.

News from Philips is located at www.news.philips.com. AVEX can be found at www.avex.com.

   CONTACT: Philips Consumer Electronics
             Marijke van Hooren, [phone]
              or
             AVEX Electronics
             Susan Steinhauser, Marketing Manager, 256/722-6303
             E-mail: [e-mail]
              or
             Scarlett Qualls, Marketing Specialist, 256/722-6290
             E-mail: [e-mail]
              or
             MarkeTech Associates
             Brian Moran, 972/960-0551
             E-mail: [e-mail]