hynix and Micron in discussion on strategic alliance

ALLIANCE

December 3, 2001
SK hynix

Hynix and Micron will hold exploratory talks on a possible strategic alliance or other deal as both companies review strategic options amid a severe semiconductor industry downturn.

PRESS

hynix and Micron in discussion on strategic alliance

SEOUL, Korea, December 3, 2001
hynix Semiconductor Inc.(KSC:00660.KS) and Micron Technology, Inc.(NYSE:MU) announced today they will engage in discussions regarding a possible strategic alliance or other transaction. These discussions will be exploratory in nature.

Mr. Steve Appleton, Chairman and CEO of Micron and Mr. C.S. Park, Chairman and CEO of hynix said: “Both companies are evaluating a broad array of strategic options.” Mr. Park further commented, “ This effort represents a part of hynix’s ongoing evaluation of possible steps to maximize stakeholder value in the face of an unprecedented downturn in the semiconductor industry.”