"This award recognizes the substantial value ChipPAC adds to the semiconductor production process," said Dennis McKenna, ChipPAC chairman and chief executive officer. "We have become an important partner to the world's preeminent semiconductor companies, including LSI Logic, because we provide better yields, reduced cycle times, and high quality, supply reliability. We develop advanced package technologies for next generation silicon wafer and high performance end product applications, in conjunction with our customers' chip designers. ChipPAC offers a complete outsource solution encompassing the industry's broadest portfolio of advanced packages, along with test and distribution services."
LSI Logic Corporation (NYSE: LSI) rates its suppliers based on technology, quality, service, flexibility, and contribution to the company's overall success. LSI Logic and ChipPAC have worked together since 1992, when ChipPAC acquired LSI Logic's back-end tooling operations.
About ChipPAC, Inc.
ChipPAC is a full-portfolio provider of semiconductor packaging design, assembly, test and distribution services. The company combines a history of innovation and service with more than a decade of experience satisfying some of the largest customers in the industry. With advanced process technology capabilities and a global manufacturing presence spanning Korea, China, Malaysia and the United States, ChipPAC has a reputation for providing dependable, high quality packaging solutions. For more information, visit the company's Web site at http://www.chippac.com/ .
About LSI Logic, Inc.
LSI Logic Corporation is a leading designer and manufacturer of communications, consumer and storage semiconductors for applications that access, interconnect and store data, voice and video. In addition, the company supplies storage network solutions for the enterprise. LSI Logic is headquartered at 1621 Barber Lane, Milpitas, CA 95035, http://www.lsilogic.com/ .
CONTACT: David Pasquale, 646-536-7006, or Jim Olecki, 646-536-7021 Both with The Ruth Group, http://www.theruthgroup.com/ Forward-Looking Statements:
This press release includes forward-looking statements, as that term is defined in the Private Securities Reform Act of 1995, which are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These forward-looking statements include statements relating to the development of CSP, stacked-die CSP and BGA packages for chips with copper interconnect and low-k dielectrics with no compromise in reliability. Some of these risks and uncertainties are detailed in documents filed with the Securities and Exchange Commission, and include, but may not necessarily be limited to, competitive conditions in the semiconductor foundry industry, timing and success of new product introductions, customer demand, the Company's ability to meet volume production and development time, the ongoing quality of the Company's services, the ability of the Company's suppliers to provide materials, equipment and services on a timely and cost competitive basis, exchange rates, industry improvement, growth in electronic product demand, general markets conditions, and general economic and political conditions. Additional risks and uncertainties are discussed in exhibit 99.1 (Risk Factors) to our annual report on Form 10-K for the period ended December 31, 2002. The Company undertakes no obligation to update the information in this press release.
Additional Information About the Proposed Merger with STATS and Where to Find It
STATS and ChipPAC have filed with the SEC a proxy statement/prospectus and other relevant materials in connection with the proposed merger (the "Merger") involving STATS and ChipPAC pursuant to the terms of an Agreement and Plan of Merger and Reorganization among STATS, Camelot Merger, Inc., a wholly owned subsidiary of STATS, and ChipPAC. A shareholders' circular to be issued by STATS will be mailed to the shareholders of STATS and the proxy statement/prospectus will be mailed to the stockholders of ChipPAC. Investors and security holders of STATS and ChipPAC are urged to read the STATS shareholders' circular and the ChipPAC proxy statement/prospectus and the other relevant materials when they become available because they will contain important information about STATS, ChipPAC and the proposed Merger. The proxy statement/prospectus and other relevant materials (when they become available), and any other documents filed by STATS or ChipPAC with the SEC, may be obtained free of charge at the SEC's web site at http://www.sec.gov/. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by STATS by contacting STATS Investor Relations in the United States at telephone (408) 586-0608 or email Email Contact or in Singapore at telephone (65) 6824-7705 or email Email Contact. Investors and security holders may obtain free copies of the documents filed with the SEC by ChipPAC by contacting ChipPAC Investor Relations, ChipPAC Incorporated, 47400 Kato Road, Fremont, CA 94538, telephone (510) 979-8220 or email Email Contact or David Pasquale at telephone (646) 536-7006 or email Email Contact. Investors and security holders of STATS and ChipPAC are urged to read the STATS shareholders' circular, the proxy statement/prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed Merger.
STATS, ChipPAC and certain of each of their executive officers and directors may be deemed to be participants in the solicitation of proxies of ChipPAC's stockholders in connection with the proposed Merger. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of such persons in the solicitation by reading the proxy statement/prospectus statement when it becomes available.
CONTACT: David Pasquale, +1-646-536-7006, or Jim Olecki, +1-646-536-7021
both with The Ruth Group, for ChipPAC