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LG Philips LCD US$2, 185 million global primary and secondary offering

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UBS Investment Bank was joint global coordinator and bookrunner of a US$2,185 million LG Philips LCD global primary and secondary equity offering consisting of ADSs (American Depositary Shares) and ordinary shares. The transaction represented the largest technology equity offering globally in 2005YTD; the largest ever technology equity offering from Asia ex Japan; the largest equity offering from Korea since 2001 and the first concurrent ADR/ordinary follow-on offering from Korea.

Pricing stood at US$21.32 per ADS and Korean Won 44,500 per ordinary share. Despite its large offering size - 145% of free float and 16% of total shares outstanding - the transaction was priced at par to the last closing of the ADSs, and at a marginal discount of 0.7% to the closing share price in Korea on 21st July.

The ADS offering consists of 39,500,000 ordinary shares in the form of ADSs and the domestic offering consists of 11,750,000 ordinary shares.

High-demand from global investors caused the ADS order book to be around three times subscribed. Demand from domestic institutions, which was driven by mutual funds and national pension funds, amounted to around US$1 billion.

Post offering, the combined interests of LG Electronics and Philips Electronics in the company have been reduced from 89% to 76%. LG Electronics and Philips Electronics intend to retain an equal shareholding in the company.
Following its dual-listed US$1,059 million IPO (Initial Public Offering) on the New York Stock Exchange and Korea Exchange in July 2004 and the US$475 million convertible bond in April this year, the latest offering is the third consecutive transaction from LG Philips LCD, on which UBS has acted as global coordinator and bookrunner.

26 July 2005, Hongkong
UBS


Zurich / Basel, 26 July 2005
UBS

Issuer

LG Philips LCD

Offer type

Follow-on offering of American Depositary Shares (ADSs) and ordinary shares

Number of shares

69,800,000 ADSs/ 11,750,000 ordinary shares

Overallotment option

9,200,000 ADSs

Issue size

US$2,185 million

Offer prize

US$21.32/Korean Won 44,500

Pricing date

21st July 2005

% of capital

14%

Discount

ADS - 0%, Ordinary shares - 0.7%

Joint global coordinators and bookrunners

UBS, Morgan Stanley

Joint bookrunners

ABN AMRO Rothschild, Citigroup

Listing

New York Stock Exchange and Korea Exchange

For further information

Mr Mark Panday

(P) +852 2971 8221

(M) +852 9747 1990