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LG.Philips LCD Forms a Strategic Alliance With Toshiba for LCD TV Business in Europe.

SEOUL, South Korea -- LG.Philips LCD (NYSE:LPL)(KRX:034220), a leading manufacturer of thin-film transistor liquid crystal display (TFT-LCD) technology, announced today that it has forged a strategic alliance with Toshiba Corporation (TSE: 6502) to jointly develop their positions in the growing European LCD TV market which is emerging as one of the world's largest markets for LCD TVs.

Under the terms of the agreement, Toshiba will take a 19.9% equity participation in LG.Philips LCD's subsidiary in Poland currently under construction in Wroclaw, Poland. In addition to this direct investment, the new partnership will allow both companies to work closely together on better aligning new product development and manufacturing goals. Establishing better global customer alignment is one of the stated goals of LG.Philips LCD. Toshiba will also benefit from this relationship by securing a steady supply of LCD panels from this plant.

Mr. Bon Joon Koo, Vice Chairman and CEO at LG.Philips LCD, said, "Through this strategic partnership, both LG.Philips LCD and Toshiba will build a strong foundation for growth in the European market. We hope it will serve as a model for additional strategic alliances between LG.Philips LCD and global TV manufacturers around the world."

"Our partnership with LG.Philips LCD is an important step toward reinforcing Toshiba's presence in the trans-European TV business," said Mr. Toshio Yonezawa, Corporate Senior Executive Vice President of Toshiba Corporation. "LG.Philips LCD is a leading supplier in the global market for LCD panels and we will leverage this relationship to build an advantageous position in Europe and to provide high quality and competitive products to the market."

Construction of LG.Philips LCD's LCD module plant in Wroclaw, Poland, began on June 14, 2006. A module line with annual production capacity of 3 million units is scheduled to be completed by the first quarter of 2007.

According to DisplaySearch, Europe accounted for 41% of the global LCD TV market in 2005 and the European LCD TV market is expected to grow at a CAGR of 35.4% from 2005 and expand more than three-fold by 2009.

About Toshiba:

Toshiba, a world leader in high technology, is a diversified manufacturer and marketer of advanced electronic and electrical products spanning information & communications equipment and systems, digital consumer products, electronic devices and components, power systems, industrial and social infrastructure systems, and home appliances. Under its mid-term business plan, Toshiba is promoting initiatives for sustained growth that will support its continued development as a highly profitable group of companies active in both high growth and stable growth businesses. Toshiba has 172,000 employees worldwide and annual sales of over US$54 billion. Visit Toshiba's web site at www.toshiba.co.jp/index.htm.

About LG.Philips LCD

LG.Philips LCD (NYSE:LPL) (KRX:034220) is a leading manufacturer and supplier of thin-film transistor liquid crystal display (TFT-LCD) panels. The Company manufactures TFT-LCD panels in a wide range of sizes and specifications for use in televisions, notebook computers, desktop monitors and applications. Headquartered in Seoul, South Korea, LG.Philips LCD currently operates seven fabrication facilities in Korea and has approximately 21,000 employees in locations around the world.

For more information about the Company, please visit http://www.lgphilips-lcd.com.

LG.Philips LCD makes "Technology you can see!"

Forward-Looking Statement Disclaimer

This press release may contain forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Additional information as to factors that may cause actual results to differ materially from our forward-looking statements can be found in our filings with the United States Securities and Exchange Commission.
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Publication:Business Wire
Date:Oct 10, 2006
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