A ListBox has display strings those are the ones you see in the GUI and associated with each of these display strings is a value. So the DisplayMember of ListControl gives you the string as you see it in your GUI and the ValueMember property of ListControl (ListBox is derived from ListControl) gives you the associated value.
Please see the example on this site:
http://msdn.microsoft.com/en-us/library/system.windows.forms.listcontrol.valuemember.aspx[
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The example is on the ListControl class site, but it contains an example using the ListBox class.
Hope that helps you!
Best regards,
Manfred