The winning Philips product excelled through rigorous short-term and long-term performance testing carried out by independent laboratories and field assessments conducted with utilities and other partners. The product also performed well through a series of stress tests, in which the product was subjected to extreme conditions such as high and low temperatures, humidity, vibration, high and low voltage, and various electrical waveform distortions.“We knew that it would be an important driver for the industry, spurring innovation and adoption for an alternative to a product that has remained largely unchanged for over a century,” said Ed Crawford, GM of Lamps, Lighting Electronics and Controls for Philips Lighting North America. “With LED bulbs, we are looking at a wholesale change in buying lighting technology, going from a disposable good to a durable good. Consumers are no longer looking at a product that will last just six months to a year, they are looking at a product that is much more efficient and will be with them for decades.” If every 60-watt incandescent bulb in the U.S. was replaced with the 10-watt L Prize winner, the nation would save about 35 terawatt-hours of electricity, the equivalent electricity of 17.5 electric power stations, or $3.9 billion in one year. Moreover, the change will also avoid 20 million metric tons of carbon emissions, or the equivalent to removing nearly 4 million cars from the road. To download L Prize images and video, please click here: http://forummedia.us/philipslprize About Royal Philips Electronics Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified health and well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity.” Headquartered in the Netherlands, Philips employs approximately 122,000 employees with sales and services in more than 100 countries worldwide. With sales of EUR 22.6 billion in 2011, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter .