Amsterdam, The Netherlands Royal Philips Electronics has appointed Mr. Stephen H. (Steve) Rusckowski as CEO of Philips Medical Systems, effective November 1, 2006. Mr. Rusckowski will succeed Mr. Jouko Karvinen, who has been named the next CEO of Stora Enso Oyj, the global paper, packaging and forest products company. Mr. Karvinen will transfer his responsibilities as CEO of Philips Medical Systems to Mr. Rusckowski as of the same date. On December 1, 2006, Mr. Karvinen will relinquish his position as member of the Board of Management of Royal Philips Electronics and leave the company. Mr. Karvinen was appointed CEO of Philips Medical Systems on October 1, 2002, and became a member of the Board of Management on April 1, 2006.

Steve Rusckowski (b. 1957, American) currently has global responsibility for Imaging Systems, one of the business groups of the Medical Systems division. In addition, he plays a lead role in designing strategies to expand Philips presence in the personal health and well-being domain. Since 1984, Mr. Rusckowski has held numerous management positions with the healthcare division of Hewlett-Packard/Agilent Technologies. He was the General Manager of Agilents Healthcare Solutions Group when Philips acquired this business in 2001.

As CEO of Philips Medical Systems, Mr. Rusckowski will report to Mr. Gerard Kleisterlee, President & CEO of Royal Philips Electronics. From November 1, 2006, Mr. Rusckowski will be a member of Philips Group Management Committee. The companys Supervisory Board will propose to the next regular General Meeting of Shareholders on March 29, 2007 to appoint Mr. Rusckowski as a member of the Board of Management as of April 1, 2007.


In commenting on this planned top management change, Mr. Kleisterlee said: Were pleased to welcome Steve Rusckowski to the Philips top team. Steve has a long track record running successful growth businesses in healthcare, both at Philips and before. Were confident hes the right leader for the next phase of growth and expansion at Medical Systems. We thank Jouko for his excellent contributions to building a strong platform in the medical business for Philips, and wish him all the best as CEO of Stora Enso corporation.

About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world's biggest electronics companies and Europe's largest, with sales of $37.66 Billion (EUR 30.3 billion) in 2004. With activities in the three interlocking domains of healthcare, lifestyle and technology and 161,500 employees in more than 60 countries, it has market leadership positions in medical diagnostic imaging and patient monitoring, color television sets, electric shavers, lighting and silicon system solutions. News from Philips is located at www.philips.com/newscenter.

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