Philips and Respironics announce satisfaction of antitrust approvals condition to tender offer

Philips and Respironics announce satisfaction of antitrust approvals condition to tender offer

Royal Philips Electronics (NYSE:PHG, AEX:PHI) (“Philips”) and Respironics, Inc. (NASDAQ:RESP) (“Respironics”) today announced that approval under Council Regulation (EC) No. 139/2004 of the European Community, as amended, was obtained today, which approval is a condition to the tender offer by Philips’ wholly owned subsidiary, Moonlight Merger Sub, Inc., to acquire all outstanding shares of common stock of Respironics for $66.00 per Respironics share, without interest and subject to any applicable withholding of taxes. Accordingly, the antitrust approvals condition to the tender offer has been fully satisfied. The tender offer is currently scheduled to expire at 5:00 p.m., New York City time, on Thursday, March 6, 2008.

Investors and stockholders of Respironics are urged to read the Tender Offer Statement on Schedule TO (containing the offer to purchase, a letter of transmittal and related materials) relating to the tender offer that has been filed with the Securities and Exchange Commission (the “SEC”) because it contains important information, including the various terms of, and conditions to, the tender offer. Investors and stockholders of Respironics may obtain these and other documents regarding the tender offer, the merger and the related transactions filed by Moonlight Merger Sub, Inc. and Respironics for free from the SEC’s website at www.sec.gov.

Georgeson Inc. is the Information Agent for the tender offer and any questions or requests for assistance or free copies of the offer to purchase and the letter of transmittal may be directed to it at 199 Water Street, 26th Floor, New York, NY 10038 or by telephone toll-free at (800) 491-3017 or at (212) 440-9800 (bankers and brokers only). Deutsche Bank is the Dealer Manager for the tender offer and can be reached at 60 Wall Street, New York, NY 10005 or by telephone toll-free at (877) 221-7676.

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