PHILIPS TO SPONSOR ENTIRE HOUR OF "60 MINUTES" ON SUNDAY, OCT. 23

For the First Time in 60 MINUTES' History, a Sole Sponsor, Philips, Will Return Time to Programming to Allow More Time for Stories

For the first time in its 37-year history, 60 MINUTES will feature an exclusive advertiser, Philips, which will give back half of the program's commercial time to allow the news magazine's stories to run longer.

Under the arrangement, Philips will purchase all of the commercial time typically allotted to 60 MINUTES, but only use half the time for ads. The result will be longer stories and only half the usual commercials, with the first two stories airing uninterrupted. This unique sponsorship illustrates Philips "Sense & Simplicity" branding campaign. Philips is committed to delivering applications and solutions that are easy to experience, advanced, and designed around users.

Among those stories scheduled to be broadcast on this particular edition of 60 MINUTES are the nightmarish story of former Army Sgt. Robert Jenkins, whose Cold War-era desertion to North Korea turned into 40 years of captivity in the communist dictatorship, as well as a rare and candid interview with basketball legend Michael Jordan, and a report about musical savants whose impaired brains make living normally impossible but their musical prowess incredible.

"We chose to underwrite 60 MINUTES due to its simple, yet straightforward format," said Andrea Ragnetti, Chief Marketing Officer, Royal Philips Electronics. "By reducing commercials, we could actually help the show extend the length of the stories, thus simplifying and enhancing the viewing experience for the audience."

"CBS strives to offer its clients differentiation and uniqueness," said Jo Ann Ross, President, CBS Network Sales. "In 60 MINUTES Philips gets to solely sponsor a brand that has been top-of-mind for discerning viewers and decision makers for decades. We're pleased to be at the forefront of creative thinking in broadcast advertising, and to work with Philips on this deal and those yet to come."

"Selfishly speaking, this is a dream come true because we're getting more time to tell the stories that have made 60 MINUTES the most watched newsmagazine on television," said Jeff Fager, executive producer of 60 MINUTES. "It's also a bonus for the viewers, who will get to see longer stories with fewer interruptions. We're very pleased to be participating in this unique arrangement, and we look forward to other opportunities like it."

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 EUR 30.3 billion in 2004. With activities in the three interlocking domains of healthcare, lifestyle and technology and 161,100 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.

60 MINUTES, the CBS News magazine providing a blend of hard-hitting investigative reports, interviews, feature segments and profiles of people in the news, began its 38th season in September and is the longest-running primetime broadcast and the most watched one in television history. 60 MINUTES has been the Number One program for the season five times -- a feat only matched by television legends "All in the Family" and "Cosby." It also has finished among Nielsen's top-10 programs a record 23 consecutive seasons. 60 MINUTES finished the 2004-05 season with an average of 14 million viewers -- the highest for any news program.

www.cbsnews.com/60minutes