Philips Research Press Release

Eindhoven, The Netherlands - Philips Research has announced the signing of a Research and Education agreement with the Technical University of Eindhoven (TU/e) and Zhejiang University, China. The agreement is aimed at fostering a new culture of technical excellence through the creation of a 'brain bridge' between eastern and western universities and companies, and at supporting China's efforts in creating the high-quality home-grown scientists and engineers the country will need to sustain its growing economy.

The project was born around 16 months ago following a visit to China by the Philips Research and TU/e Boards of Management and deepened further during a number of consecutive visits. Several Chinese universities were visited and the choice for Zhejiang was made on the basis of the university's broad curriculum and the high quality of the teaching and research staff. Zhejiang University's interests also closely parallel those of Philips, including a strong focus on technology and on medical research with affiliations with several hospitals in the region.

Philips already has a strong presence in China with 33 joint ventures and wholly-owned foreign enterprises (WOFEs), including a Research Laboratory in Shanghai and other world-class research projects. The company looks on this latest alliance as a natural extension into the areas of university research and post-graduate education. "We are strongly committed to growth in China and believe that this is best served by tapping the unquestionable talent of the Chinese people," says Rick Harwig, CEO of Philips Research. "In the future we see our subsidiaries in China being run by Chinese nationals. This alliance with Zhejiang University, Zhejiang University being strongly supported by the Chinese government, is therefore aimed at helping to create the pool of highly-qualified scientist and engineers from which we can recruit." Zhejiang University has established its own High Tech Park and close cooperation between this and Philips' Incubator Program is thought of for the future.

The relationship between Philips and the TU/e has also been a longstanding one, including joint PhD projects and interchange of personnel. The TU/e and Zhejiang University exchange program will address top-quality students and envisages a high level of student exchange between the two universities, including joint PhD programs. According to TU/e president Amandus Lundqvist "this three party agreement is a typical example of a win-win case. In a world that is rapidly becoming more oriented on international cooperation, we strongly believe in research and education networks like the one we are establishing here right now." Students taking advantage of the opportunities offered by the alliance will benefit from an enormously interesting cultural exchange. They will also be able to conduct part of their research at the Philips Research laboratories in the Netherlands, Germany, Belgium and at Philips Research Shanghai. At the end of their studies, they will receive diplomas from both universities that should provide them with excellent prospects of employment in the international arena.

The three parties will sign the agreement on the 4^th November 2005. To make a quick start following the signing, Philips has already agreed to sponsor four research projects identified at Zhejiang University and Zhejiang will be organizing the first Annual Workshop in the spring of 2006.
 

Pictures are available from:

+ www.research.philips.com/newscenter/pictures/
051104-alliance-pict.html
 

For further information please contact:
 

Steve Klink
Communications Department Philips Research
Tel.: +31 40 27 43703
Mobile: +31 6 10888824
E-mail: steve.klink@philips.com

About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lighting and consumer lifestyle, delivering people-centric, innovative products, services and solutions through the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 134,200 employees in more than 60 countries worldwide. With sales of EUR 27 billion in 2007, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, as well as lifestyle solutions for personal wellbeing. News from Philips is located at www.philips.com/newscenter.