ETE Euro.Telecom

RNS Number:3843P
Koninklijke Philips Electronics NV
2 January 2002


European Telecom acquires part of Philips' mobile phone operations in Le Mans

European Telecom PLC of the United Kingdom has acquired from Philips Electronics
N.V. parts of Philips unit for industrial operations in the field of mobile 
telephony in Le Mans, France.  Under this agreement which became effective 
January 1, 2002, a total of 597 employees have been transferred from Philips to 
European Telecom.

The transfer is a next step in the implementation of Philips' restructuring 
measures regarding mobile handsets as announced in June 2001. For European 
Telecom the acquisition means an important step in its growth plans. Workers' 
representatives in France have been consulted along the process. Financial 
details will not be disclosed.

European Telecom intends to transform the current GSM and DECT manufacturing 
units in Le Mans into a dedicated center for GSM configuration and GSM and DECT 
repair and after sales services.  For this purpose, relevant staff have been 
transferred to set up a full service operations unit to support Philips and 
other telecom customers. The transfer is part of a three-year service agreement 
aimed at offering service support to Philips' mobile handset activities in 
Europe.

Royal Philips Electronics of the Netherlands is one of the world's biggest 
electronics companies and Europe's largest, with sales of EUR 37.9 billion in 
2000. It is a global leader in color television sets, lighting, electric 
shavers, and one-chip TV products. Its 192,400 employees in more than 60 
countries are active in the areas of lighting, consumer electronics, domestic 
appliances, components, semiconductors, and medical systems. Philips is quoted 
on the NYSE (symbol: PHG), London, Frankfurt, Amsterdam and other stock 
exchanges. News from Philips is located at www.news.philips.com

Founded in 1990, ET has evolved from a distribution company for the 
telecommunications industry into a leading supplier of value added fulfilment 
services for the telecoms and converging industries. The Group has operations in
Austria, France, The Netherlands, Spain, South Africa and the UK and is one of 
the market leaders in handset distribution for UK networks. ET is quoted on 
Alternative Investment Market ("AIM") in London (symbol ETE.L). 
www.europeantele.com

For further information, please contact;
Philips Consumer Electronics
Corporate Communications
Nanda Huizing
Tel: +31 40 27 80 074
Email: nanda.huizing@philips.com

European Telecom plc
Warren Hardy - Executive Chairman, tel: +44 1992 825825
Andy Berry - Director, Flagship Consulting, tel: +44 207 299 1500

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