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SEOUL, South Korea, May 24, 2002- LG.Philips LCD Co., Ltd., a leading innovator of liquid crystal display (LCD) technology, today announced that its new "P4" facility, the world's first fifth-generation (above 1 meter per side of substrate glass) thin-film-transistor (TFT)-LCD fabrication plant, began volume production this month. Located in Kumi, South Korea, "P4" will produce TFT-LCDs for 15- and 18-inch desktop monitors and 15-inch notebook PCs, as well as larger LCD TVs. Currently in the first phase of ramp-up (30K sheet per month), "P4" will reach full production capacity in the second half of 2002, achieving a total of 60K sheet per month by year end-making LG.Philips LCD the world's leading supplier of large-sized TFT-LCDs. The state-of-the-art "P4" is the largest TFT-LCD facility in operation today, and is the first factory to use larger glass substrates (1000 mm x 1200 mm), which will increase factory productivity and panel throughput in LCD production.

DisplaySearch, an Austin, Texas-based market research firm, predicts that by July 2002, LG.Philips LCD will have achieved 15.2 percent of the worldwide glass area input capacity, more than any of its competitors. "From 2001 to 2006, the flat panel display market is expected to grow at a 21 percent CAGR, to $57 billion. Key drivers for this growth include significant increases in TFT-LCD capacity, targeting large-area applications, as well as lower TFT-LCD prices, which have boosted penetration into the PC market, and recently, the flat TV market. As the first TFT-LCD manufacturer to bring a fifth-generation fab on-line, LG.Philips LCD is setting the standard for future factories and paving the way for TFT-LCDs to become an affordable, mainstream display solution, eventually overtaking CRTs," noted DisplaySearch President Ross Young.

Commenting on the record-breaking "P4" Bruce Berkoff, LG.Philips LCD's executive vice president of marketing, noted, "The opening of our fifth-generation factory, the world's first, will expedite the transition into a new, display-centric era of consumer electronics. As a result, LG.Philips LCD will further its position as a technology and production leader, without sacrificing the quality or service that our customers have come to expect."

As LG.Philips LCD makes more affordable LCDs available to OEMs, consumers will reap the benefits. Digital displays will be available for use anywhere in the home or office, for both work and play. HDTVs will move into an affordable price range, with 13- to 30-inch LCD TVs becoming a realistic option, and the industry will also have the capacity to grow the LCD market, making the space-efficient, environmentally friendly LCD an affordable solution for every room in the home.

"P4" - State-of-the-Art Facility

"P4" encompasses more than 200,000 square meters of space, and is equipped with the latest state-of-the-art LCD manufacturing equipment. In bringing its fifth-generation production facility on-line, LG.Philips LCD is not only boosting production but is also enabling a great increase in productivity over the fourth generation, while allowing cost- effective production of large 18- and 25-inch wide screens. In addition to the larger mother glass, another major reason for this accomplishment is that revolutionary process improvements were made by applying many new technologies to the fifth-generation "P4" thus reducing turnaround time and streamlining many production processes.

Key equipment for "P4" was designed in cooperation with several suppliers to create higher levels of intra-tool integration, reducing the amount of handling time required and allowing for better utilization of cleanroom space. The factory also features a first-of-its-kind, in-line cell assembly line.

LG.Philips LCD's fifth-generation facility officially opened today, May 24. The opening ceremony was presided over by LG.Philips LCD CEO Mr. Koo Bon Joon, and joined by LG Group Chairman Mr. Koo Bon Moo and other LG group executives, as well as Mr. Guy Demuynck, CEO of Philips Consumer Electronics and other Philips executives.