LG Announces First Blu-ray Disc Player With Capability to Instantly Stream Movies From Netflix to the TV

NEW YORK, July 31 /PRNewswire-FirstCall/ -- Building on a
groundbreaking technology partnership announced earlier this year, LG
Electronics and Netflix, Inc. (Nasdaq: NFLX) today announced plans for the
first Blu-ray disc player that will have the added benefit of being able to
instantly stream a growing library of movies and TV episodes from Netflix
directly to the TV.

Available this fall, the LG BD300 Network Blu-ray Disc Player will play
high definition Blu-ray discs, up-convert standard DVDs to 1080p and allow
Netflix subscribers to instantly stream more than 12,000 choices of movies
and TV episodes from Netflix to the TV for no additional charge.

LG Electronics and Netflix will demonstrate the BD300 Network Blu-ray
Disc Player for the first time tonight at LG's 2008 Summer Line Show at
Morgan Library and Museum in New York City. (The event is open to invited
media only.)

Instantly streaming content from Netflix to the TV via the LG BD300
Network Blu-ray Disc Player will rely on a wired broadband connection and
Queue-based user interface. Netflix members will use the Netflix Web site
to add movies and TV episodes to their individual instant Queues. Those
choices will automatically be displayed on members' TVs and available to
watch instantly through the LG player. Once selected, movies will begin
playing in as little as 30 seconds. With the BD300's accompanying remote
control, Netflix members will be able to browse and make selections right
on the TV screen and also have the ability to read synopses and rate
movies. In addition, they will have the option of fast-forwarding and
rewinding the video stream.

"As Blu-ray player sales are expected to triple in three years,
consumers are craving content and seeking a premium home entertainment
experience," said LG Electronics USA President Teddy Hwang. "The BD300 is
another LG industry first and provides consumers with an advanced high-def
disc player with unparalleled flexibility and networked access for services
such as Netflix."

Consumers craving more content will appreciate the BD Live feature,
which provides real-time interactivity for movie enthusiasts seeking
extras, new previews or special content while BonusView provides
picture-in-picture access to Blu-ray disc special features. To further
personalize and simplify the home theater experience, the BD300 includes
LG's SimpLink(TM) technology, which allows users to control similarly
equipped LG TV and AV products via convenient on-screen menus or directly
from the product itself.

In January, prior to the 2008 International CES(R), LG Electronics and
Netflix announced their technology partnership to provide a set-top box for
consumers to stream movies and TV episodes from the Internet to the TV
beginning in the second half of the year.

"LG Electronics is establishing itself as the innovation leader in
consumer electronics, combining the best of broadband and Blu-ray
connectivity," said Netflix Co-Founder, Chairman and CEO Reed Hastings. "LG
Electronics was the first of our technology partners to publicly embrace
our strategy for getting the Internet to the TV, and is the first to
introduce a Blu-ray player that will instantly stream movies and TV
episodes from Netflix to the TV."

About LG Electronics USA

LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North
American subsidiary of LG Electronics, Inc., a global force and technology
leader in home appliances, consumer electronics and mobile communications.
In the United States, LG Electronics sells a wide range of stylish,
innovative digital appliances, consumer electronics (digital display and
digital media) products and mobile phones under LG's "Life's Good"
marketing theme. For more information, please visit http://www.LGusa.com.

About Netflix, Inc.

Netflix, Inc. (Nadsaq: NFLX) is the world's largest online movie rental
service, with more than eight million subscribers. For one low monthly
price, Netflix members can get DVDs delivered to their homes and can
instantly watch movies and TV episodes streamed to their TVs and PCs, all
in unlimited amounts. Members can choose from over 100,000 DVD titles and a
growing library of more than 12,000 choices that can be watched instantly.
There are never any due dates or late fees. DVDs are delivered free to
members by first class mail, with a postage-paid return envelope, from over
100 U.S. shipping points. More than 95 percent of Netflix members live in
areas that generally receive shipments in one business day. Netflix is also
partnering with leading consumer electronics companies to offer a range of
devices that can instantly stream movies and TV episodes to members' TVs
from Netflix. For more information, visit http://www.netflix.com/.

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