CROWDSPRING LAUNCHES DESIGN COMPETITION FROM PHILIPS ELECTRONICS FOR THE MOST INNOVATIVE AND ADVANCED STEAM GENERATOR IRON DESIGNS

crowdSPRING Turns to its Creative Community for Innovation and to Shape the Next Generation Model of Irons

crowdSPRING, the global online marketplace for crowdsourced creative and writing, recently launched a new design project from Royal Philips Electronics (AEX: PHI, NYSE: PHG) to encourage entrepreneurs, designers and inventors to come up with the most innovative Ironing steam generator of the future.

Many mass brands like Philips - including LG, Barilla, Doritos and others - are turning to crowdSPRING for industrial product designs because of its ability to tap a diverse, yet talented crowd of individuals from all over the world for high-quality creative ideas that drive new product innovations.

"crowdSPRING offers benefits to the buyer that go beyond being cost-effective and an easy and time-saving marketing solution," said Mike Samson and Ross Kimbarovsky, co-founders of crowdSPRING. "Creative crowdsourcing is a chance to connect directly with the customers who have in-depth, hands-on knowledge about your products and services."

Participants in the Philips project can submit up to three designs per entry. Each entry must include a description of the design inspiration and a usage scenario. An optional video clip will also be accepted. Starting today through November 11, 2010, entries must be submitted at www.crowdSPRING.com.

A panel of international experts from Phillips representing the business, technology and design divisions, will select six breakthrough designs as winners based on reviewing the entries' innovativeness, aesthetics, effective use of materials, ease of use, feasibility, positioning of key features and integration of Philips brand promise, "sense and Simplicity".

The winners, which will be announced in November 2010, will be awarded a cash prize of $4,500 US plus Autodesk Alias Design software ($3995 value) for first-place, $3,000 US plus Autodesk SketchBook Designer software ($495 value) for second-place and $2,500 US plus Autodesk SketchBook Pro software ($95 value) for third-place, and three consolatory prizes of $1000 US plus Autodesk SketchBook Pro software ($95 value) each. Three winning design(s) will also be produced into non-working mockups.

Official rules for the competition can be found on crowdSPRING. For more information about the high pressure steam generator iron design competition, visit www.crowdSPRING.com.

About crowdSPRING
crowdSPRING is an online marketplace that offers small businesses a better way to buy custom logo design, web design, graphic design, industrial design, and writing services. For buyers, crowdSPRING is a place to post a creative project, watch the world contribute ideas and choose the best at an affordable price. For creatives, crowdSPRING is a global stage for creativity where title and experience don't matter. crowdSPRING is a privately held company based in Chicago. For more information, visit www.crowdSPRING.com. To learn more about the world of small business, startups, design, marketing and business strategy, follow crowdSPRING's blog at http://blog.crowdspring.com/. CrowdSPRING is also on Twitter at http://twitter.com/crowdSPRING. Join the crowdSPRING community on Facebook at http://www.facebook.com/crowdspring.

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 116,000 employees in more than 60 countries worldwide. With sales of EUR 23 billion in 2009, 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 flat TV, male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter.

About Autodesk
Autodesk, Inc., is a leader in 3D design, engineering and entertainment software. Customers across the manufacturing, architecture, building, construction, and media and entertainment industries-including the last 15 Academy Award winners for Best Visual Effects-use Autodesk software to design, visualize and simulate their ideas. Since its introduction of AutoCAD software in 1982, Autodesk continues to develop the broadest portfolio of state-of-the-art software for global markets. For additional information about Autodesk, visit www.autodesk.com.

Autodesk, Alias, AutoCAD and SketchBook are registered trademarks or trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. Academy Award is a registered trademark of the Academy of Motion Picture Arts and Sciences. All other brand names, product names or trademarks belong to their respective holders.