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SEOUL, Korea (July 16, 2004) - LG.Philips LCD (the "Company"), one of the world's leading TFT-LCD manufacturers, announced today the pricing of its initial public offering at $15.00 per American Depositary Share ("ADS") and KRW34,500 per share of common stock ("Share"). The ADSs have been approved for listing on the New York Stock Exchange under the symbol "LPL", subject to official notice of issuance, and the Company has obtained preliminary approval, and will apply for final approval immediately after closing, to list its common stock on the Korea Stock Exchange under the code "034220". Each ADS represents one half of a Share. The initial public offering comprises 33,600,000 primary Shares. The Company is offering 8,640,000 Shares to the public in Korea and 49,920,000 ADSs (equivalent to 24,960,000 Shares) outside Korea. The Company has granted the underwriters an option to purchase up to an additional 7,488,000 ADSs (equivalent to 3,744,000 Shares) to cover over-allotments, if any, outside Korea. "As the first concurrent, dual-listed initial public offering on both the Korean and the New York Stock Exchanges, we are pleased with the global investor reaction to our US$1.0 billion initial public offering," said Bon Joon Koo, Chief Executive Officer, LG.Philips LCD. "The proceeds from this transaction will be used to fund strategic expansion plans." As a result of the initial public offering, the interests of LG Electronics Inc. and Koninklijke Philips Electronics N.V. in the Company will both be reduced from 50.0% to 44.8% or, if the underwriter's over-allotment option is exercised in full, to 44.3%. LG Electronics Inc. and Koninklijke Philips Electronics N.V. will not be selling any shares in this offering. After the offering, LG.Philips LCD will have 323,600,000 Shares outstanding, or 327,344,000 Shares outstanding if the over-allotment option is exercised in full. LG Investment & Securities, Morgan Stanley and UBS Investment Bank are the joint global coordinators and joint bookrunners for the offering. Dongwon Securities is the lead Korean underwriter. A copy of the prospectus relating to the offering may be obtained from Morgan Stanley at 1585 Broadway, New York, NY 10036, from UBS Investment Bank at 299 Park Avenue, New York, NY 10171 or from LG Investment & Securities at West Tower, LG Twin Towers, 20 Yoido-dong, Youngdungpo-gu, Seoul 150-721, Republic of Korea.

THIS PRESS RELEASE IS NOT AN OFFER FOR SALE OF THE SECURITIES IN THE UNITED STATES, AND THE SECURITIES MAY NOT BE SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. ANY PUBLIC OFFERING OF THE SECURITIES IN THE UNITED STATES WILL BE MADE BY MEANS OF A PROSPECTUS CONTAINING DETAILED INFORMATION REGARDING LG.PHILIPS LCD CO., LTD. (THE "COMPANY") AND THE COMPANY'S MANAGEMENT, INCLUDING FINANCIAL STATEMENTS. COPIES OF SUCH PROSPECTUS MAY BE OBTAINED FROM THE UNDERWRITERS . THE COMPANY HAS REGISTERED A PORTION OF THE OFFERING IN THE UNITED STATES.

A SECURITIES REGISTRATION STATEMENT RELATING TO THE SHARES OF LG.PHILIPS LCD CO., LTD TO BE OFFERED IN KOREA HAS BEEN FILED WITH THE FINANCIAL SUPERVISORY COMMISSION IN KOREA AND HAS BECOME EFFECTIVE. THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY THE SHARES.

About LG.Philips LCD
LG.Philips LCD (the "Company") 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 primarily for use in notebook computers, desktop monitors and televisions. The Company, which operates five fabrication facilities in Korea, is currently constructing its sixth-generation fabrication facility, which is expected to commence mass production during the third quarter of 2004. Headquartered in Seoul, South Korea, LG.Philips LCD has approximately 9,000 employees in locations around the world.
LG.Philips LCD makes "Technology you can see!"


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