PSRC Palmsource (MM)

LG Electronics Signs Agreement with PalmSource to License Palm OS Company to Develop Palm Powered smartphones SUNNYVALE, Calif., July 6 /PRNewswire-FirstCall/ -- LG Electronics, Inc., (Korea Stock Exchange: 06657.KS) and PalmSource Inc., (NASDAQ:PSRC) provider of Palm OS(R), a leading operating system powering next generation phones and mobile devices today announced that LG Electronics has signed an agreement to license Palm OS worldwide. Under terms of the agreement, LG Electronics can develop and market smartphones based on Palm OS. "LG Electronics is pleased to have entered into this agreement with PalmSource," said Skott Ahn, executive vice president of LG Electronics, Inc. "The flexible, open and powerful nature of Palm OS is an ideal match for our industry leading mobile handsets. We believe our customers will appreciate the new Palm Powered phones we will develop and distribute." "LG Electronics is a leading innovator in the development and manufacture of mobile devices including award-winning mobile handsets," said Patrick McVeigh, interim CEO of PalmSource. "We are excited to welcome LG Electronics to the Palm Powered(TM) Economy and look forward to working with LG to develop new, cutting-edge smartphones for delivery to the worldwide marketplace." With over 29,000 Palm OS software titles available today, the Palm OS platform offers one of the largest third-party software catalogs to enable users to customize their Palm Powered smart mobile devices to fit particular needs. Choosing Palm OS opens up new business channels for hardware manufacturers and software developers and provides the opportunity to broaden their reach into the smartphone and wireless device markets. About LG Electronics Inc. LG Electronics Inc. (Korea Stock Exchange: 06657.KS) is a global force in electronics, information and communications products with 2004 annual sales of U.S. $38 billion (consolidated). With more than 66,000 employees working in 76 subsidiaries in 39 countries around the world, LG Electronics is comprised of four main business companies including Mobile Communications, Digital Appliance, Digital Display and Digital Media. LG Electronics Mobile Communications Company is the world's leading manufacturer of WCDMA (UMTS), CDMA and GSM handsets, and the fastest growing manufacturer of mobile phones worldwide. The Company provides a total range of wired and wireless solutions, and is rapidly establishing a global presence as it cultivates international market share in 3G handsets. For more information, please visit http://www.lge.com/. About PalmSource PalmSource, Inc., the company behind Palm OS(R), a leading operating system powering smart mobile devices, is a leading developer of software for mobile phones and other mobile devices. Its products include a wide range of software for mobile phones at all price points. More than 39 million mobile phones, handhelds, and other mobile devices run PalmSource software. More than 45 companies worldwide have licenses to PalmSource software, including Fossil, Garmin, GSPDA, Kyocera, Lenovo, palmOne, Samsung, Sony, and Symbol Technologies. Palm OS has given rise to a large community of users, enterprises, developers and manufacturers, who together make up the Palm Powered(TM) Economy. More information about PalmSource is available at http://www.palmsource.com/, http://www.palmsource.co.uk/, http://www.palmsource.fr/, http://www.palmsource.de/, http://www.palmsource.com/es and http://www.palmsource.com.cn/. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause PalmSource's results to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements include, without limitation, statements related to our agreement with LG Electronics, LG Electronics' plans for Palm Powered(TM) smartphones, and the feature and benefits of Palm OS. The risks and uncertainties that could cause PalmSource's results to differ materially from those expressed or implied by such forward-looking statements include, without limitation: the ability of LG Electronics to successfully develop and market cutting-edge smartphones utilizing Palm OS in a timely manner that meet end user demands; our ability to successfully work with LG Electronics to realize the anticipated benefits of our agreement; the ability of Palm OS to perform as designed and to deliver the flexibility, openness and power expected by licensees than can open new business channels for hardware manufacturers and software developers; our ability to benefit from any growth in the smartphone markets worldwide; and the general economic conditions in the U.S. and abroad and other risks and uncertainties contained in PalmSource's public announcements, reports to stockholders and other documents filed with and furnished to the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the period ended May 28, 2004 and its Quarterly Reports on Form 10-Q for the periods ended August 27, 2004, November 26, 2004 and February 25, 2005. All forward-looking statements in this press release are based on information available to us as of the date hereof, and PalmSource assumes no obligation to update these forward-looking statements. NOTE: PalmSource, Inc. PalmSource, Palm OS, Palm Powered, Palm Desktop, Graffiti, HotSync and certain other trade names, trademarks and logos are trademarks which may be registered in the United States, France, Germany, Japan, the United Kingdom, and other countries and are either owned by PalmSource, Inc. or its affiliates, or are licensed by PalmSource, Inc. from Palm Trademark Holding Company, LLC. All other brands and trademarks used herein are or may be trademarks of, and are used to identify other products or services of, their respective owners. DATASOURCE: PalmSource, Inc. CONTACT: Maureen O'Connell of PalmSource, Inc., +1-408-400-1543, or Web site: http://www.lge.com/ Web site: http://www.palmsource.com/

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