SHA signs partnership with Philips to develop global hospitality solutions

Contact:  Bill Summers, 908.204.9994, wcs7@cornell.edu, School of Hotel Administration, Cornell University

FOR IMMEDIATE RELEASE:

Ithaca, NY, February 3, 2009 –The Cornell University School of Hotel Administration today announced Royal Philips Electronics (NYSE: PHG, AEX: PHI) as the newest member in the school's corporate strategic alliance program. As a senior partner in the school's Center for Hospitality Research, Philips will collaborate with the School on several dedicated research projects. The alliance furthers Cornell's commitment to research for the hospitality industry, while also advancing Philips's leadership in innovation across the global hospitality business.

“Philips is known for its innovative leadership in products and services, which makes the firm an ideal partner for Cornell,” said Jon Denison, associate dean for external affairs at the university's School of Hotel Administration. “We look forward to working with Philips and exploring ways to use their technology to take the hospitality industry in new directions.”

Under the alliance, Philips also becomes a corporate member of the school's Pillsbury Institute for Hospitality Entrepreneurship. Philips products, designed specifically for the hospitality industry, will be featured in the Hospitality Innovator Project – a new undergraduate course that will explore the “hotel room of the future” at the school's Statler Hotel. Philips will also sponsor several upcoming events being held by the school, including the Dean's Leadership Series and the school's Industry Awards Dinner.

“Our belief is that by creating this alliance between two world class organizations we can share perspectives from both the corporate and academic realms,” said Tom Parham, Senior Vice President of Hospitality, Philips Electronics North America who will also take a seat on the center's Advisory Board. “I'm confident that as a result of this alliance we will discover new knowledge in lighting, in-room electronics and ambient solutions that will power the hospitality industry forward.”

For more information, please contact:
Cornell: Joe Strodel, Director of Corporate and Foundation Affairs, Tel.: 607 255 4646, Email: js343@cornell.edu
Philips: David Wolf, Philips Corporate Communications, Tel.: 212 536 0817, Email: david.l.wolf@philips.com

About the Cornell School of Hotel Administration
The Cornell University School of Hotel Administration is shaping the global knowledge base for hospitality management through leadership in education, research and industry advancement. The school provides management instruction in the full range of hospitality disciplines, educating the next generation of leaders in the world's largest industry. Founded in 1922 as the nation's first collegiate course of study in hospitality management, the Cornell School of Hotel Administration is recognized as the world leader in its field. For more information, visit www.hotelschool.cornell.edu.

About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified Health and Well-being company, focused on improving people's lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 128,000 employees in more than 60 countries worldwide. With sales of EUR 27 billion in 2007, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at http://www.newscenter.philips.com/.