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SEOUL, South Korea, March 18 -- LG.Philips LCD Co., Ltd.,
a leading innovator of liquid crystal display (LCD) technology, today announced that its new "P5" facility, the world's third, fifth-generation thin-film-transistor (TFT)-LCD fabrication plant, began volume production this month, replicating and improving upon the success they showed with their world record ramping "P4" last May, the world's first Gen 5 facility. Located in Gumi, South Korea, the new "P5" will produce TFT-LCDs for 17-inch and larger desktop monitors and larger LCD TVs such as the 26-inch wide model. Currently in the first phase of ramp-up (up to 30K sheet per month), "P5" is expected to reach full production capacity in the second half of 2003, achieving a total of 60K sheets per month by year end-enabling LG.Philips LCD to remain the world's
leading supplier of large-sized TFT-LCDs*. "P5" is part of the largest TFT-LCD facility in operation today, situated in the same building which houses the "P4" fab (1000 mm x 1200 mm substrate). "P5" is a 1100 mm x 1250 mm substrate fab and will substantially broaden the company's portfolio of efficiently manufactured large-screen products.

DisplaySearch (Austin, Texas) President Ross Young, noted, "From 2001 to 2006, the flat panel display market is expected to grow at a 22.7 percent Compound Annual Growth Rate (CAGR), to $61.9 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. LG.Philips LCD has led the 15-inch market for three years straight, and we expect the company to be the leader in overall large-area TFT-LCD unit shipments in Q1 '03 and Q2'03*."

Commenting on the new "P5," KS Park, LG.Philips LCD's EVP of
manufacturing, noted, "Based on our successful early ramp and high production rates of ''P4'', we were able to even more quickly set up and start production for ''P5'', in record time. The opening of our second, fifth-generation factory will further LG.Philips LCD's position as a technology and production leader in TFT-LCDs, enabling more larger display products with the consistent high
quality our customers need and expect from our company. This factory will also broaden our product line, enabling us to be the world's No.1 supplier of monitor modules three years in a row* to add 17-inch monitors to our current leading line up from 15-inch to 23W."

* According to DisplaySearch Quarterly Large-Area TFT LCD Shipment Report Q1 '03
** According to DisplaySearch Quarterly Worldwide Flat Panel Forecast Report Q4 '02