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SAN DIEGO & BEDMINSTER, N.J.--(BUSINESS WIRE)--Oct. 8, 2002

Continuing to build on its growing market share in the CDMA handset industry, LG Mobile Phones has taken another step forward in its aggressive branding campaign by entering into a co-branding agreement with Verizon Wireless, the nation's leading provider of wireless communications. LG has been manufacturing handsets for Verizon since 1999 and is one of the company's best selling manufacturers. Now it will have its name and logo on all handsets produced for Verizon Wireless. The LG/Verizon co-branding campaign began with the recent launch of VX10.

"LG Mobile Phones has been one of the fastest growing players in the US CDMA market," said Dan Gralak, vice president of sales for LG Mobile Phones. "In just a few short years, we've almost doubled our market share, and we've proved our ability to deliver high-quality products that offer the most advanced technology, combined with the latest style. Consumers now look for the LG name when purchasing a new phone, so it only makes sense that we accelerate our branding efforts."

This fall, consumers can look for the very stylish, but extremely powerful VX10. Offering advanced voice and data capabilities, the VX10 is perfect for the "on-the-go" professional needing access to the Internet, email, and all the cutting-edge mobile applications. With the VX10, customers will also have access to Verizon Wireless' "Get It Now" service that puts the latest games and productivity tools right at their fingertips.

"Our customers want the latest technologies, functionalities and styles that support their lifestyles," said Verizon Wireless' Rich Meigh, vice president -- wireless devices. "We recognize LG's track record for manufacturing phones that have strong consumer appeal, and we see great value in introducing LG manufactured handsets to our customers."

About Verizon Wireless

Verizon Wireless is the nation's leading provider of wireless communications. The company has the largest nationwide wireless voice and data network and 30.3 million customers. Headquartered in Bedminster, NJ, Verizon Wireless is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (NYSE:VOD)(LSE:VOD). Find more information on the Web at http://www.verizonwireless.com.

About LG InfoComm U.S.A.

Headquartered in San Diego, California, LG InfoComm U.S.A., Inc. (LG Mobile Phones), is the North American wireless division of LGE USA, a business unit of LG Electronics of Seoul, Korea. With annual sales of $17.5 billion, LGE employs over 55,000 individuals worldwide and operates research and development, manufacturing, and sales and marketing facilities around the world. LGE was the first manufacturer to commercialize the CDMA digital mobile communication system with its support of the launch of the SK Telecom Network in Korea. LG's expertise in designing sleek, user-friendly phones has proven wildly successfully in the U.S. market, where the company's market share of all CDMA handsets has grown to 12 percent in just three years. In 2002 LG is planning to further increase this penetration with an aggressive brand campaign and a competitive line of next generation high-speed voice mobile phones. The company is further strengthening its position as a major CDMA handset supplier in the U.S. by developing handsets for CDMA2000 1x wireless networks that will offer high-speed voice and data capacity. For more information please visit at http://www.LGmobilephones.com.