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Koninklijke Philips (PHPE)

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Monday 26 February, 2001

Koninklijke Philips

Issue of Debt

Koninklijke Philips Electronics NV
26 February 2001


PHILIPS LAUNCHES USD 2.5 BILLION GLOBAL COMMERCIAL PAPER PROGRAM

Amsterdam, The Netherlands, 26 February 2001 - Royal Philips Electronics of the
Netherlands (APEX: PHI, NYSE: PHI) announced today that it is launching a USD
2.5 billion Global Commercial Paper Program (CP Program).  Under this Program,
Philips will issue commercial paper notes ('Notes') worldwide, which will be
sold through a number of dealers.  With maturities up to 365 days, it will
provide an additional and flexible financing source, which Philips will use for
general corporate purposes.

Philips expects to start drawing on the CP Program in the coming weeks.  Philips
is presently borrowing short-term money from banks.  The initial draw downs will
be used to refinance maturing bank borrowings and to finance working capital
requirements.

For further information:
Ben Geerts, Philips Corporate Communications, tel: +31-20 59 77 215


The Notes have not and will not be registered under the U.S. Securities Act of
1933 (the 'Act') and may not be offered or sold in the United States absent
registration under the Act or an applicable exemption from the Act's
registration requirements.