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Philips Donates $2.6 Million Worth of Ultrasound Equipment to Help Improve Healthcare for Under-Served Patients Around the World; First Beneficiary is Seoul City General Hospital in South Korea

Posted on: Monday, 29 May 2006, 09:00 CDT

Royal Philips Electronics (NYSE: PHG, AEX: PHI) has agreed to donate 50 ultrasound systems, valued at an estimated $2.6 million, to the Global Ultrasound Equipment Donation Foundation (GUEDF). GUEDF is a not-for-profit organization that provides ultrasound equipment and training to needy clinics, hospitals and teaching facilities in emerging and developing countries around the world.

"Every year we donate medical equipment to worthwhile organizations that bring modern health care to under-served patients," said Barbara Franciose, CEO, ultrasound and monitoring, for Philips Medical Systems. "This partnership with GUEDF will help give our efforts a significant boost."

The donation includes systems used for echocardiology, radiology and obstetrics. These systems are equipped with modern ultrasound technologies such as SonoCT and 3D imaging that the benefiting institutions could not have afforded on their own. The equipment will help patients receive care that is equivalent with many developed nations.

"There are millions of people around the world who do not have access to even the most basic ultrasound technology. The donation of advanced systems like these will help adults, children and newborns survive medical conditions that may have otherwise been fatal," said Barry B. Goldberg, M.D., president of the Global Ultrasound Equipment Donation Foundation.

The first system from this donation, a Philips HDI 5000, is being presented to Seoul City General Hospital, East Branch in Seoul, South Korea. Used for general imaging, including Ob/Gyn, breast, vascular, abdominal and adult cardiology, the system's SonoCT compound imaging and 3D capabilities will allow the hospital to provide under-served patients in Seoul advanced care that is not currently available to them.

Since its establishment in 2003, GUEDF has provided more than 200 ultrasound systems to needy hospitals and clinics in more than 25 developing countries.

Philips Electronics has been recognized for its social responsibility by the Dow Jones Sustainability Index as the top-ranked company in its market sector for the past two years. It also was recognized this past January by Global 100, an independent rating organization, as one of the top 100 most sustainable companies in the world.

Sustainability is a measure of a company's ongoing performance in the areas of social and environmental responsibility, as well as corporate governance. According to the Global 100, these factors are increasingly relevant to financial performance and those companies that show superior management of these issues are fast gaining an edge over their competitors.

About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world's biggest electronics companies and Europe's largest, with sales of $37.7 billion (EUR 30.4 billion) in 2005. With activities in the three interlocking domains of healthcare, lifestyle and technology and 161,500 employees in more than 60 countries, it has market leadership positions in medical diagnostic imaging and patient monitoring, color television sets, electric shavers, lighting and silicon system solutions. News from Philips is located at www.philips.com/newscenter.

About Global Ultrasound Equipment Donation Foundation

GUEDF's mission is to provide donated ultrasound equipment to needy clinics, hospitals and teaching facilities in emerging and developing countries around the world. The Foundation's program and activities consist of solicitation of contributions of equipment; selection of needy sites; distribution of equipment; determining knowledge level of potential equipment users; and training of equipment users. GUEDF works closely with other non-profit organizations including the Jefferson Ultrasound Research and Education Institute (JUREI), Assist International (AI), the Radiology Outreach Foundation (ROF), and the International Certification and Education Accreditation Foundation (ICEAF).

Source: Business Wire

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