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NASCAR WCUP: Philips Electronics Tunes in for Second Season

3 February 1999

ATLANTA, Ga.-- Philips Electronics of North America is readying plans for a second year in Winston Cup racing which will build on the equity of the company's inaugural season in 1998 with Mattei Motorsports and the No. 7 Philips Ford Taurus.

The consumer electronics giant, manufacturers of a broad range of product offerings including televisions, computer components, audio CD players, wireless communications products and long-lasting light bulbs, has expanded the original sponsorship platform to function as an all-inclusive branding effort.

Immediately following the first run of the new No. 7 Philips Chevrolet Monte Carlo driven by Michael Waltrip at the Daytona 500, plans will be unveiled for the 1999 Philips Racing marketing program.

When asked the question "Why NASCAR ?"...

...on the audience:

"Philips' relationship with NASCAR is an ideal way to reach an incredibly important audience. It's a wonderful opportunity to show NASCAR fans throughout the US, how Philips technology is everywhere: at home, work and travel."

-- John Losier, President and CEO of Philips Electronics of North America.

...on the mission:

"Our relationship with NASCAR continues the aggressive efforts to establish the Philips brand in the United States. It's another way to deliver on our promise to make things better."

-- Ed Volkwein, EVP Philips Global Brand Management North America