Royal Philips Electronics (PHG) said Monday in a press statement that, as initially indicated during the investor and analyst day on December 4, 2008, Philips will impair the book value of its Lumileds business by EUR232 million.

This value adjustment, a consequence of reduced short-term market demand and uncertain outlook caused by the current macro economic downturn, will be booked in the results for the fourth quarter of 2008, which will be published on January 26, 2009.

Company Web site: www.philips.com

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