Philips Consumer Communications Teams Up With Mattei Motorsports; Will Be Primary Sponsor of Geoff Bodine's NASCAR Entry

12 February 1998
Philips Consumer Communications Teams Up With Mattei Motorsports; Will Be Primary Sponsor of Geoff Bodine's NASCAR Entry

    DAYTONA, Fla., Feb. 12 -- Philips Consumer Communications
L.P. (PCC) today announced that it has become the primary sponsor of Mattei
Motorsports NASCAR Winston Cup Series car driven by Geoff Bodine.  The
agreement makes Philips the only consumer communications products manufacturer
currently sponsoring a NASCAR entry.  Bodine's #7 Ford Taurus will feature the
Philips logo beginning with this Sunday's Daytona 500 Race.
    Philips Consumer Communications is the world's leading provider of corded
and cordless telephones and answering machines and a manufacturer of pagers
and wireless products.
    "We're delighted to join forces with one of auto racing's most dynamic new
ownership teams and one of its most talented drivers," said Ed Volkwein,
executive vice president, Global Brand Management, North America for Philips.
"Our entry into NASCAR is one of the most important marketing initiatives
we're implementing to promote the Philips brand in the United States."
    Philips plans to use this sponsorship as part of a national promotional
overlay for its retailers and telecommunications carriers.  Details of planned
promotions, which will involve appearances by Geoff Bodine and special events
at Winston Cup racing venues, will be announced shortly.
    "We're excited that a worldwide communications leader like PCC will be
sponsoring our NASCAR entry," said Mattei Motorsports spokesperson Jim Mattei.
"Along with the support they bring to our race team," Mattei added, "Philips'
national and international reputation delivers added credibility to NASCAR.
It's another exciting global opportunity for Winston Cup racing, which now
holds events in Japan and is seen on television worldwide.  And we expect
expanded international venues in the future."
    Philips partnership with Mattei in America's fastest-growing spectator
sport demonstrates an expansion of Philips brand-building initiative in the
United States.  "As primary sponsor of Mattei Motorsports' Winston Cup Car,
Philips will gain tremendous visibility with millions of NASCAR fans whose
loyalty to sponsoring brands is demonstrated by their purchases," Volkwein
added.
    Philips Electronics, of the Netherlands, is one of the world's largest
electronics companies, with sales of U.S. $41 billion in 1996 alone.  With
262,500 employees in more than 60 countries, it is well known for its
activities in the lighting, semiconductors and components, consumer products,
professional products and systems areas including software and services.
Philips is quoted on the NYSE, London, Frankfurt, Amsterdam and other stock
exchanges, and is the world's leader in lighting, color TV equipment,
electronic shavers and recorded music (PolyGram).  Philips maintains a site on
the World Wide Web at http://www.Philips.com.
    Philips Consumer Communications, a Lucent Technologies and Philips
Electronics venture, designs, manufactures and markets a complete range of
personal communications products including digital and analog cellular and
cordless phones, corded phones, answering machines, screen phones and pagers.
The union of the two businesses has created a company that is the world leader
in corded and cordless phones and answering machines.  The partnership was
formed October 1, 1997 with 60 percent interest in the venture held by Philips
Electronics and 40 percent held by Lucent Technologies.

SOURCE  Philips Consumer Communications