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 LG.Philips LCD Reports Fourth Quarter 2006 Results
   Tuesday, January 16, 2007 2:36:05 AM ET

LG.Philips LCD (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 December 31, 2006. Amounts in Korean Won (KRW) are translated into US dollars (USD) at the noon buying rate in effect on December 29, 2006, which was KRW 930.00 per US dollar.

-- Sales in the fourth quarter of 2006 increased by 11% to KRW 3,065 billion (USD 3,296 million) from sales of KRW 2,773 billion (USD 2,982 million) in the third quarter of 2006 and increased 3% compared to KRW 2,963 billion (USD 3,186 million) in the fourth quarter of 2005.

-- Operating loss in the fourth quarter of 2006 was KRW 177 billion (USD 190 million) compared to an operating loss of KRW 382 billion (USD 411 million) in the third quarter of 2006, and an operating profit of KRW 334 billion (USD 359 million) in the fourth quarter of 2005.

-- EBITDA in the fourth quarter of 2006 was KRW 559 billion (USD 601 million), an increase of 89% from KRW 295 billion (USD 317 million) in the third quarter of 2006 and a year-over-year decline of 32% from KRW 824 billion (USD 886 million) in the fourth quarter of 2005.

-- Net income in the fourth quarter of 2006 was a loss of KRW 174 billion (USD 187 million) compared to a loss of KRW 321 billion (USD 345 million) in the third quarter of 2006 and a profit of KRW 328 billion (USD 353 million) in the fourth quarter of 2005.

Ron Wirahadiraksa, CFO of LG.Philips LCD, said, "We are encouraged by our performance this quarter and the results of the enhanced cost reduction initiatives we are implementing. During the fourth quarter, we were able to reduce our COGS per square meter in KRW by 10% sequentially. In addition, we maintained finished goods inventory levels at slightly under three weeks at the end of the quarter. Further, the increasing number of long-term supply agreements we have secured, reflects our continued focus on closer customer collaboration as we head into a challenging market environment in 2007."

"Responding to the needs of our customers and a rapidly evolving global business environment remains a key focus of LG.Philips LCD," Mr. Wirahadiraksa continued. "We believe our strategy is strong and that the new leadership team, announced in late December, will further enhance the Company’s global standing and business capabilities."

Fourth Quarter Financial Review

Revenue and Cost

Revenue in the three-month period ended December 31, 2006, increased by 3% to KRW 3,065 billion (USD 3,296 million) from KRW 2,963 billion (USD 3,186 million) in the corresponding period of 2005. TFT-LCD panels for TVs, desktop monitors, notebook computers and other applications accounted for 48%, 27%, 21% and 4%, respectively, on a revenue basis in the fourth quarter of 2006.

Overall, the Company shipped a total of 2.3 million square meters of net display area in the fourth quarter of 2006, a 14% increase quarter-on-quarter, with an average selling price per square meter of USD 1,414. This represents a decrease in the average selling price per square meter of net display area of approximately 3% compared to the end of the third quarter of 2006 and an average decrease of 1% from the third quarter of 2006.

The total cost of goods sold increased 2% sequentially to KRW 3,090 billion (USD 3,323 million), and increased 26% year-over-year driven by shipment growth. The cost of goods sold per square meter of net display area shipped was KRW 1.4 million (USD 1,460) for the fourth quarter of 2006, down 10% from the third quarter of 2006.

Liquidity

As of December 31, 2006, LG.Philips LCD had KRW 954 billion (USD 1,026 million) of cash and cash equivalents. Total debt was KRW 4,121 billion (USD 4,431 million), and the net debt-to-equity ratio was 46% as of December 31, 2006, compared to 57% as of September 30, 2006.

Capital Spending

Capital expenditures in the fourth quarter of 2006 were KRW 324 billion (USD 348 million) compared to KRW 1,396 billion (USD 1,501 million) in the fourth quarter of 2005, and were primarily invested in Gen 5.5, the Poland module plant, the enhancement of production efficiency, and the maintenance of existing facilities.

Utilization and Capacity

Total input capacity on an area basis increased approximately 17% sequentially in the fourth quarter, mainly attributable to the ramp up of P7, which currently averages 78,000 input sheets per month.

Outlook

The following expectations are based on current information as of January 16, 2007. The Company does not expect to update its expectations until next quarter’s earnings announcement. However, the Company may update its full business outlook, or any portion thereof, at any time for any reason.

"For the first quarter of 2007, we anticipate a mid-single digit decrease percentage in total area shipments sequentially, where TV decreases by a high-teens and IT increases by a mid-single digit percentage," commented Mr. Wirahadiraksa. "We anticipate the ASP per square meter at the end of the first quarter of 2007 as well as the average ASP during the quarter to decline by a low-teens percentage, which is the same for TV and IT."

Mr. Wirahadiraksa continued, "Our COGS reduction per square meter is expected to be a mid-single digit percentage in the first quarter. Accordingly, our EBITDA margin for the first quarter of 2007 is expected to be a mid-teens percentage. Looking forward to 2007, we anticipate continued progress in our cost reduction efforts and expect that these strategies will reduce costs by 25 to 30 percent."

"Our CAPEX guidance for 2007 remains at approximately KRW 1 trillion. Our 2007 CAPEX will be utilized for future production facilities, production efficiency enhancement and existing facility maintenance, thereby providing us with more operational flexibility," Mr. Wirahadiraksa concluded.

Earnings Conference and Conference Call

LG.Philips LCD will hold a Korean language earnings conference on January 16, 2007, at 4:30 p.m. Korea Standard Time on the 1st floor, in the International Conference Room of the Korea Exchange Building (KRX). An English language conference call will follow at 10:00 p.m. Korea Standard Time, 8:00 a.m. EST 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.Philips LCD web site: http://www.lgphilips-lcd.com

Investors can listen to the conference call via the Internet at http://www.lgphilips-lcd.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 76999#.

About LG.Philips LCD

LG.Philips LCD Co., Ltd (LPL ) (KRX:034220) 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 for use in TVs, monitors, notebook PCs, and various applications. LG.Philips LCD currently operates seven fabrication facilities and four back-end assembly facilities in Korea, China and Poland. In addition, LG.Philips LCD has sales and representative offices in ten countries and has approximately 21,000 employees globally. Please visit http://www.lgphilips-lcd.com for more information.

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Additional information as to factors that may cause actual results to differ materially from our forward-looking statements can be found in our filings with the United States Securities and Exchange Commission.

                            LG.Philips LCD
                  CONSOLIDATED STATEMENTS OF INCOME
                         (In millions of KRW)
    (The financial statements are based on unaudited Korean GAAP)




                                  ------------------------------------
                                                 2006
                                  ------------------------------------
                                    Three months      Twelve months
                                    ended Dec 31       ended Dec 31
                                  ----------------- ------------------

REVENUES                           3,065,294   100%  10,624,200   100%
Cost of goods sold                (3,090,235) -101% (10,932,316) -103%

                                  ----------------- ------------------

GROSS PROFIT                         (24,941)   -1%    (308,116)   -3%

Selling, general & administrative   (151,647)   -5%    (570,922)   -5%

                                  ----------------- ------------------

OPERATING INCOME                    (176,588)   -6%    (879,038)   -8%

Interest income                        5,773     0%      29,309     0%
Interest expense                     (53,440)   -2%    (179,199)   -2%
Foreign exchange gain (loss), net      4,469     0%       3,426     0%
Others, net                            7,947     0%       4,026     0%
                                  ----------------- ------------------
  Total other income (expense)       (35,251)   -1%    (142,438)   -1%
                                  ----------------- ------------------

INCOME BEFORE TAX                   (211,839)   -7%  (1,021,476)  -10%

Income tax (expense) benefit          37,494     1%     252,163     2%

                                  ----------------- ------------------
NET INCOME(LOSS)                    (174,345)   -6%    (769,313)   -7%
                                  ================= ==================


                                  ------------------------------------
                                                 2005
                                  ------------------------------------
                                    Three months      Twelve months
                                    ended Dec 31       ended Dec 31
                                  ----------------- ------------------

REVENUES                           2,962,697   100%  10,075,580   100%
Cost of goods sold                (2,456,670)  -83%  (9,094,711)  -90%

                                  ----------------- ------------------

GROSS PROFIT                         506,027    17%     980,869    10%

Selling, general & administrative   (171,643)   -6%    (511,172)   -5%

                                  ----------------- ------------------

OPERATING INCOME                     334,384    11%     469,697     5%

Interest income                       14,135     0%      50,622     1%
Interest expense                     (26,253)   -1%    (104,928)   -1%
Foreign exchange gain (loss), net     (9,461)    0%     (30,500)    0%
Others, net                           (4,253)    0%     (16,196)    0%
                                  ----------------- ------------------
  Total other income (expense)       (25,832)   -1%    (101,002)   -1%
                                  ----------------- ------------------

INCOME BEFORE TAX                    308,552    10%     368,695     4%

Income tax (expense) benefit          19,274     1%     148,317     1%

                                  ----------------- ------------------
NET INCOME(LOSS)                     327,826    11%     517,012     5%
                                  ================= ==================


- These financial statements are provided for informational purposes
 only.

                            LG.Philips LCD
                      CONSOLIDATED BALANCE SHEET
                         (In millions of KRW)
    (The financial statements are based on unaudited Korean GAAP)




                                     ---------------------------------
                                                   2006
                                     ---------------------------------
                                          Dec 31           Sep 30
                                     ---------------- ----------------
ASSETS
Current assets:
Cash and cash equivalents               954,362    7%    471,747    3%
Trade accounts and notes receivable     859,300    6%  1,330,539   10%
Inventories                           1,052,705    8%  1,148,286    8%
Other current assets                    288,260    2%    320,707    2%
Total current assets                  3,154,627   23%  3,271,279   24%

                                     ---------------- ----------------

Investments and other non-current
 assets                                 781,287    6%    703,452    5%
Property, plant and equipment, net    9,428,048   70%  9,578,309   70%
Intangible assets, net                  123,825    1%    181,576    1%

                                     ---------------- ----------------

Total assets                         13,487,787  100% 13,734,616  100%

                                     ================ ================
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt                         813,735    6%    672,720    5%
Trade accounts and notes payable        949,436    7%    881,443    6%
Other payables and accrued
 liabilities                          1,445,618   11%  1,230,405    9%

                                     ---------------- ----------------

Total current liabilities             3,208,789   24%  2,784,568   20%

                                     ---------------- ----------------

Long-term debt                        3,306,988   25%  3,806,675   28%
Other non-current liabilities            82,334    1%     71,812    1%

                                     ---------------- ----------------

Total liabilities                     6,598,111   49%  6,663,055   49%
                                     ---------------- ----------------

Common Stock and additional paid-in
 capital                              4,064,250   30%  4,064,250   30%
Retained Earnings                     2,839,373   21%  3,013,718   22%
Capital adjustment                      (13,947)   0%     (6,407)   0%
Shareholders’ equity                  6,889,676   51%  7,071,561   51%

                                     ---------------- ----------------

Total liabilities and shareholders’
 equity                              13,487,787  100% 13,734,616  100%

                                     ================ ================


                                     ---------------------------------
                                                   2005
                                     ---------------------------------
                                          Dec 31           Sep 30
                                     ---------------- ----------------
ASSETS
Current assets:
Cash and cash equivalents             1,579,452   12%  2,129,456   16%
Trade accounts and notes receivable   1,266,899    9%  1,307,958   10%
Inventories                             690,785    5%    724,954    5%
Other current assets                    308,932    2%    248,701    2%
Total current assets                  3,846,068   28%  4,411,069   33%

                                     ---------------- ----------------

Investments and other non-current
 assets                                 469,109    3%    413,959    3%
Property, plant and equipment, net    9,199,599   67%  8,548,527   63%
Intangible assets, net                  159,306    1%    167,933    1%

                                     ---------------- ----------------

Total assets                         13,674,082  100% 13,541,488  100%

                                     ================ ================
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt                         749,809    5%    794,504    6%
Trade accounts and notes payable        693,588    5%    730,003    5%
Other payables and accrued
 liabilities                          1,695,439   12%  1,816,328   13%

                                     ---------------- ----------------

Total current liabilities             3,138,836   23%  3,340,835   25%

                                     ---------------- ----------------

Long-term debt                        2,815,969   21%  2,822,930   21%
Other non-current liabilities            43,681    0%     59,528    0%

                                     ---------------- ----------------

Total liabilities                     5,998,486   44%  6,223,293   46%
                                     ---------------- ----------------

Common Stock and additional paid-in
 capital                              4,068,328   30%  4,069,499   30%
Retained Earnings                     3,608,686   26%  3,280,838   24%
Capital adjustment                       (1,418)   0%    (32,142)   0%
Shareholders’ equity                  7,675,596   56%  7,318,195   54%

                                     ---------------- ----------------

Total liabilities and shareholders’
 equity                              13,674,082  100% 13,541,488  100%

                                     ================ ================



- These financial statements are provided for informational purposes
 only.

                            LG.Philips LCD
                 CONSOLIDATED STATEMENTS OF CASH FLOW
                         (In millions of KRW)
    (The financial statements are based on unaudited Korean GAAP)



                        ---------------------- -----------------------
                                2006                    2005
                        ---------------------- -----------------------
                          Three      Twelve      Three       Twelve
                          months     months      months      months
                          ended       ended       ended       ended
                          Dec 31     Dec 31      Dec 31      Dec 31
                        ---------- ----------------------- -----------
Net Income               (174,345)   (769,313)    327,826     517,012
  Depreciation            715,314   2,593,439     492,179   1,746,901
  Amortization              7,456      45,410      11,196      45,421
  Others                   24,518      80,253      (9,512)     68,877
                        ---------- ----------- ----------- -----------
Operating Cash Flow       572,943   1,949,789     821,689   2,378,211
  Net Change in Working
   Capital                598,922     (84,289)     67,569    (269,795)
                        ---------- ----------- ----------- -----------
    Change in accounts
     receivable           483,584     409,123       5,807    (398,445)
    Change in inventory    95,582    (361,919)     34,097     114,503
    Change in accounts
     payable               63,038     256,642     (27,506)    122,926
    Change in others      (43,282)   (388,135)     55,171    (108,779)
                        ---------- ----------- ----------- -----------
Cash Flow from
 Operation              1,171,865   1,865,500     889,258   2,108,416
  Capital Expenditures   (324,404) (3,067,195) (1,396,205) (4,197,874)
                        ---------- ----------- ----------- -----------
    Acquisition of
     property, plant
     and equipment       (330,887) (3,075,985) (1,379,631) (4,166,151)
      (Delivery)         (521,337) (2,833,983) (1,141,287) (4,419,223)
      (Other account
       payables)          190,450    (242,002)   (238,344)    253,072
    Intangible assets
     investment            (2,888)     (8,251)     (2,557)    (12,704)
    Others                  9,371      17,041     (14,017)    (19,019)
                        ---------- ----------- ----------- -----------
Cash Flow before
 Financing                847,461  (1,201,695)   (506,947) (2,089,458)
  Cash Flow from
   Financing Activities  (364,846)    576,605     (43,219)    906,329
  Proceeds from
   Issuance of common
   stock                        0           0         162   1,401,342
                        ---------- ----------- ----------- -----------
Net Cash Flow             482,615    (625,090)   (550,004)    218,213
                        ========== =========== =========== ===========

- These financial statements are provided for informational purposes
 only.

                            LG.Philips LCD
                  CONSOLIDATED STATEMENTS OF INCOME
                         (In millions of KRW)
      (The financial statements are based on unaudited US GAAP)




                                  ------------------------------------
                                                 2006
                                  ------------------------------------
                                    Three months      Twelve months
                                    ended Dec 31       ended Dec 31
                                  ------------------------------------

REVENUES                           3,065,294   100%  10,624,200   100%
Cost of goods sold                (3,076,094) -100% (10,910,267) -103%

                                  ----------------- ------------------

GROSS PROFIT                         (10,800)    0%    (286,067)   -3%

Selling, general & administrative   (160,921)   -5%    (595,781)   -6%

                                  ----------------- ------------------

OPERATING INCOME                    (171,721)   -6%    (881,848)   -8%

Interest income                        5,773     0%      29,309     0%
Interest expense                     (51,926)   -2%    (169,598)   -2%
Foreign exchange gain (loss), net     16,699     1%      52,400     0%
Others, net                           14,988     0%      34,855     0%
                                  ----------------- ------------------
    Total other income (expense)     (14,466)    0%     (53,034)    0%
                                  ----------------- ------------------

INCOME BEFORE TAX                   (186,187)   -6%    (934,882)   -9%

Income tax (expense) benefit          41,426     1%     242,103     2%

                                  ----------------- ------------------
NET INCOME(LOSS)                    (144,761)   -5%    (692,779)   -7%
                                  ================= ==================


                                  ------------------------------------
                                                 2005
                                  ------------------------------------
                                    Three months      Twelve months
                                    ended Dec 31       ended Dec 31
                                  ------------------------------------

REVENUES                           2,962,697   100%  10,075,580   100%
Cost of goods sold                (2,456,269)  -83%  (9,069,848)  -90%

                                  ----------------- ------------------

GROSS PROFIT                         506,428    17%   1,005,732    10%

Selling, general & administrative   (178,037)   -6%    (528,084)   -5%

                                  ----------------- ------------------

OPERATING INCOME                     328,391    11%     477,648     5%

Interest income                       14,135     0%      50,622     1%
Interest expense                     (26,391)   -1%    (107,540)   -1%
Foreign exchange gain (loss), net      9,409     0%     (23,607)    0%
Others, net                            8,334     0%       7,807     0%
                                  ----------------- ------------------
    Total other income (expense)       5,487     0%     (72,718)   -1%
                                  ----------------- ------------------

INCOME BEFORE TAX                    333,878    11%     404,930     4%

Income tax (expense) benefit          25,837     1%     136,719     1%

                                  ----------------- ------------------
NET INCOME(LOSS)                     359,715    12%     541,649     5%
                                  ================= ==================


- These financial statements are provided for informational purposes
 only.

                            LG.Philips LCD
                      CONSOLIDATED BALANCE SHEET
                         (In millions of KRW)
      (The financial statements are based on unaudited US GAAP)




                                     ---------------------------------
                                                   2006
                                     ---------------------------------
                                          Dec 31           Sep 30
                                     ---------------- ----------------
ASSETS
Current assets:
Cash and cash equivalents               954,362    7%    471,747    3%
Trade accounts and notes receivable     859,300    6%  1,330,539   10%
Inventories                           1,051,590    8%  1,147,575    8%
Other current assets                    289,050    2%    326,424    2%
Total current assets                  3,154,302   23%  3,276,285   24%

                                     ---------------- ----------------

Investments and other non-current
 assets                                 794,998    6%    710,701    5%
Property, plant and equipment, net    9,485,148   70%  9,663,242   71%
Intangible assets, net                   61,911    0%     45,380    0%

                                     ---------------- ----------------

Total assets                         13,496,359  100% 13,695,608  100%

                                     ================ ================
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt                         814,776    6%    672,853    5%
Trade accounts and notes payable        949,436    7%    881,443    6%
Other payables and accrued
 liabilities                          1,482,955   11%  1,236,235    9%

                                     ---------------- ----------------

Total current liabilities             3,247,167   24%  2,790,531   20%

                                     ---------------- ----------------

Long-term debt                        3,291,065   24%  3,801,984   28%
Other non-current liabilities            84,557    1%     75,560    1%

                                     ---------------- ----------------

Total liabilities                     6,622,789   49%  6,668,075   49%
                                     ---------------- ----------------

Common stock and additional paid-in
 capital                              4,036,025   30%  4,035,331   29%
Retained earnings                     2,849,913   21%  2,994,673   22%
Capital adjustment                      (12,368)   0%     (2,471)   0%
Shareholders’ equity                  6,873,570   51%  7,027,533   51%

                                     ---------------- ----------------

Total liabilities and shareholders’
 equity                              13,496,359  100% 13,695,608  100%
                                     ================ ================


                                     ---------------------------------
                                                   2005
                                     ---------------------------------
                                          Dec 31           Sep 30
                                     ---------------- ----------------
ASSETS
Current assets:
Cash and cash equivalents             1,579,452   12%  2,129,456   16%
Trade accounts and notes receivable   1,266,899    9%  1,307,957   10%
Inventories                             689,577    5%    723,917    5%
Other current assets                    310,837    2%    248,029    2%
Total current assets                  3,846,765   28%  4,409,359   33%

                                     ---------------- ----------------

Investments and other non-current
 assets                                 492,311    4%    434,719    3%
Property, plant and equipment, net    9,234,104   68%  8,578,817   64%
Intangible assets, net                   43,374    0%     42,341    0%

                                     ---------------- ----------------

Total assets                         13,616,554  100% 13,465,236  100%

                                     ================ ================
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt                         751,109    6%    794,690    6%
Trade accounts and notes payable        733,588    5%    730,003    5%
Other payables and accrued
 liabilities                          1,660,262   12%  1,820,553   14%

                                     ---------------- ----------------

Total current liabilities             3,144,959   23%  3,345,246   25%

                                     ---------------- ----------------

Long-term debt                        2,851,353   21%  2,875,674   21%
Other non-current liabilities            46,040    0%     61,138    0%

                                     ---------------- ----------------

Total liabilities                     6,042,352   44%  6,282,058   47%
                                     ---------------- ----------------

Common stock and additional paid-in
 capital                              4,032,878   30%  4,032,294   30%
Retained earnings                     3,542,691   26%  3,182,976   24%
Capital adjustment                       (1,367)   0%    (32,092)   0%
Shareholders’ equity                  7,574,202   56%  7,183,178   53%

                                     ---------------- ----------------

Total liabilities and shareholders’
 equity                              13,616,554  100% 13,465,236  100%
                                     ================ ================



- These financial statements are provided for informational purposes
 only.

                            LG.Philips LCD
                 CONSOLIDATED STATEMENTS OF CASH FLOW
                         (In millions of KRW)
      (The financial statements are based on unaudited US GAAP)



                        ---------------------- -----------------------
                                2006                    2005
                        ---------------------- -----------------------
                          Three      Twelve      Three       Twelve
                          months     months      months      months
                          ended       ended       ended       ended
                          Dec 31     Dec 31      Dec 31      Dec 31
                        ---------------------- -----------------------
Net Income               (144,761)   (692,779)    359,715     541,649
  Depreciation            710,783   2,597,479     492,550   1,748,385
  Amortization              1,788       6,766       1,536       6,778
  Others                   17,499      19,560     (27,868)     81,442
                        ---------- ----------- ----------- -----------
Operating Cash Flow       585,309   1,931,026     825,933   2,378,254
  Net Change in Working
   Capital                586,556     (65,526)     63,325    (269,838)
                        ---------- ----------- ----------- -----------
    Change in accounts
     receivable           483,584     409,123      56,108    (400,838)
    Change in inventory    95,985    (362,013)     34,267     114,540
    Change in accounts
     payable               83,188     256,642     (27,506)    121,391
    Change in others      (76,201)   (369,278)        456    (104,931)
                        ---------- ----------- ----------- -----------
Cash Flow from
 Operation              1,171,865   1,865,500     889,258   2,108,416
  Capital Expenditures   (324,404) (3,067,195) (1,396,205) (4,197,874)
                        ---------- ----------- ----------- -----------
    Acquisition of
     property, plant
     and equipment       (330,887) (3,075,985) (1,379,631) (4,166,151)
      (Delivery)         (521,337) (2,833,983) (1,141,287) (4,419,223)
      (Other account
       payables)          190,450    (242,002)   (238,344)    253,072
    Intangible assets
     investment            (2,888)     (8,251)     (2,557)    (12,704)
    Others                  9,371      17,041     (14,017)    (19,019)
                        ---------- ----------- ----------- -----------
Cash Flow before
 Financing                847,461  (1,201,695)   (506,947) (2,089,458)
  Cash Flow from
   Financing Activities  (364,846)    576,605     (43,219)    906,329
  Proceeds from
   Issuance of common
   stock                        0           0         162   1,401,342
                        ---------- ----------- ----------- -----------
Net Cash Flow             482,615    (625,090)   (550,004)    218,213
                        ========== =========== =========== ===========

- These financial statements are provided for informational purposes
 only.

                            LG.Philips LCD
                 Net Income Reconciliation to US GAAP
                         (In millions of KRW)




                                                   -------------------
                                                          2006
                                                   -------------------
                                                      Q4        Q3
                                                   -------------------
Net Income under K GAAP                            (174,345) (320,966)
US GAAP Adjustments                                  29,584    13,475
  Depreciation of PP&E                                 (655)     (655)
  Amortization of IPR                                 9,399     9,510
  Adjustment of AR discount loss                     (1,408)    1,670
  Capitalization of financial interests               2,121     2,767
  Pension expense                                     2,268       509
  Income tax effect of US GAAP Adjustments            3,965      (573)
  ESOP                                                 (694)     (694)
  Convertible bonds (including FX valuation)          9,293     5,467
  Stock appreciation right                            1,533      (322)
  Cash flow hedge                                     2,355    (3,884)
  Others                                              1,407      (320)
                                                   -------------------
Net Income under US GAAP                           (144,761) (307,491)
                                                   ===================

- These financial statements are provided for informational purposes
 only(Unaudited).

SOURCE: LG.Philips LCD

Investor Relations Contacts:
LG.Philips LCD
C.H. Lee, +822-3777-1010 (Korea)
ch.lee@lgphilips-lcd.com
or
Sloane & Company
Joshua Hochberg, +1-212-446-1892 (USA)
jhochberg@sloanepr.com
or
Media Contacts:
LG.Philips LCD
Sue Kim, +822-3777-0970 (Korea)
sue.kim@lgphilips-lcd.com
or
Sloane & Company
Elliot Sloane, +1-212-446-1860 (USA)
ESloane@sloanepr.com


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