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SEOUL, Korea ？ April 10, 2008 ？ LG Display [NYSE: LPL, KRX: 034220], one of the world’s leading TFT-LCD manufacturers, today reported unaudited earnings results based on consolidated Korean GAAP for the three-month period ended March 31, 2008. Amounts in Korean Won (KRW) are translated into US dollars (USD) at the noon buying rate in effect on March 31, 2008, which was KRW 988.60 per US dollar.


⊙ Sales in the first quarter of 2008 decreased by 7% to KRW 4,036 billion (USD 4,083 million) from sales of KRW 4,322 billion (USD 4,372 million) in the fourth quarter of 2007 and increased by
48% compared to KRW 2,722 billion (USD 2,753 million) in the first quarter of 2007
⊙ Operating profit in the first quarter of 2008 was KRW 881 billion (USD 891 million) compared to an operating profit of KRW 869 billion (USD 879 million) in the fourth quarter of 2007, and an
operating loss of KRW 208 billion (USD 210 million) in the first quarter of 2007.
⊙ EBITDA in the first quarter of 2008 was KRW 1,600 billion (USD 1,618 million), a decrease of 10% from KRW 1,775 billion (USD 1,795 million) in the fourth quarter of 2007 and a
year-on-year increase of 211% from KRW 515 billion (USD 521 million) in the first quarter of 2007.
⊙ Net income in the first quarter of 2008 was a profit of KRW 717 billion (USD 725 million) compared to a profit of KRW 760 billion (USD 769 million) in the fourth quarter of 2007 and a loss of
KRW 169 billion (USD 171 million) in the first quarter of 2007.

Young Soo Kwon, CEO of LG Display, said, “Last quarter was a notable quarter for us. Our performance was encouraging despite the seasonally slow market condition. In addition, we have
changed our corporate name from “LG.Philips LCD Co., Ltd.” to “LG Display Co., Ltd.” and transit into a single Representative Director’s organization at the Annual General Meeting according to the change in corporate governance following the reduction of Philips’ equity. The new name reflects our intention to expand our business scope and diversify the business model for sustainable growth in the future. While there were changes in our corporate governance, we remain committed to maintain our integrity, being transparent and consistent, accompanied by our competent Directors in the Board.”

“As part of our ongoing efforts to enhance our strength and to successfully implement a profitable growth strategy in this dynamic industry, we have been seeking various possibilities for forming strategic alliances, which are gradually bearing fruits. For instance, we have recently signed a cross license agreement with Kodak for AMOLED business. Also, Skyworth agreed to invest in our Guangzhou module plant. Furthermore, we have a plan to set up an R&D Joint Venture with Skyworth for developing LCD TV especially for Chinese customers. Going forward, we remain committed to achieve sustainable growth by emphasizing collaboration with our customers and investing in technology leadership, ultimately generating greater shareholder value.” Mr. Kwon concluded.


First Quarter Financial Review

Revenue and Cost

Revenue for the three-month period ended March 31, 2008, increased by 48% to KRW 4,036 billion (USD 4,083 million) from KRW 2,722 billion (USD 2,753 million) for the corresponding period of 2007. TFT-LCD panels for TVs, monitors, notebook PCs and other applications accounted for 44%, 26%, 24% and 6%, respectively, on a revenue basis in the first quarter of 2008.

Overall, the Company shipped a total of 3.2 million square meters of net display area in the first quarter of 2008, a decrease of 7% quarter-on-quarter. The average selling price per square meter of net display area shipped was USD 1,339, which was a decrease of approximately 3% compared to the average of the fourth quarter of 2007. The ending average selling price per square meter was USD 1,323, a decrease of approximately 4% compared to the end of the fourth quarter of 2007.

For the first quarter of 2008, the cost of goods sold per square meter of net display area shipped in Korean Won basis decreased by 2% to KRW 932 thousand (USD 943) from the fourth quarter of 2007. In terms of USD basis, it was a decrease of 6% Quarter on Quarter.

Liquidity

Cash and cash equivalents including short term financial instruments of LG Display were KRW 2,988 billion (USD 3,022 million) as of March 31, 2008. Total debt was KRW 4,015 billion (USD 4,061 million), and the net debt-to-equity ratio was 12% as of March 31, 2008, compared to 17% as of December 31, 2007.

Capital Spending

Capital investment outlay in fixed assets during the first quarter of 2008 was KRW 233 billion (USD 236 million) compared to KRW 495 billion (USD 501 million) in the first quarter of 2007. On a delivery base, it was KRW 444 billion (USD 449 million)

Capacity

Total production input capacity on an area basis decreased approximately 1% in the first quarter. It was mainly due to retooling and debottlenecking activities we conducted throughout our fabs in order to maximize our input capacity and shipment.


Outlook

The following expectations are based on information as of April 10, 2008. The Company does not expect to update its expectations until next quarter’s earnings announcement. However, the Company reserves the right to update its full business outlook, or any portion thereof, at any time and for any reason.

James Jeong, the newly appointed CFO of LG Display, commented,

“Generally, our performance in the first quarter of 2008 came in better than the guidance provided last quarter, which has proven that we have become a more value driven company.”

“Looking ahead, we expect our total shipments to increase by a mid teens percentage with a mid single digit declining average ASP per square meter. Our COGS reduction per square meter basis is expected to decrease by a low single digit percentage in the second quarter. Our CAPEX for this year remains at 3 trillion Korean Won which will be utilized mainly for Gen 8 facilities and production efficiency enhancement for existing facilities.” Mr. Jeong concluded.


Earnings Conference and Conference Call

LG Display will hold a Korean language earnings conference on April 10, 2008, at
4:30 p.m. Korea Standard Time at the LG Twin Tower Auditorium (East Tower, B1F) in 20 Yoido-dong, Yeongdeungpo-gu, Seoul, Korea. An English language conference call will follow at 9:00 p.m. Korea Standard Time, 8:00 a.m. EDT and 1:00 p.m. GMT. The call-in number is +82 (0)31-810-3001 for both callers in Korea and callers outside of Korea. The confirmation number is 3777. Corresponding slides will be available at the Investor Relations section of the LG Display web site: http://www.lgdisplay.com.

Investors can listen to the conference call via the Internet at http://www.lgdisplay.com. To listen to the live call, please go to the Investor Relations section of the web site at least 15 minutes prior to the call to register and install any necessary audio software.

For those who are unable to participate in the call, a replay will be available for 30 days after the call. The call-in number is 031-810-3100 for callers in Korea and +82-31-810-3100 for callers outside of Korea. The confirmation number for the replay is 132104#.

Media Contacts:
Bang-Soo Lee, VP, Public Affairs & PR
LG Display
Tel: +822-3777-1020
Email: bsleeb@lgdisplay

Ellie Choo, Manager, PR Team
LG Display
Tel: +822-3777-1003