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Intel Makes $450-Million Equity Investment in Micron TechnologySanta Clara, Calif. and Boise, Idaho, Sept. 24, 2003 -Micron Technology Inc. and Intel Corporation announced today that Intel Capital invested $450 million in Micron in exchange for rights to common stock representing approximately 5.3 percent of Micron's outstanding common stock. Micron will use the proceeds primarily to support its investments in 300 mm manufacturing technology and increase its DDR2 memory production. "We look forward to working closely with Intel in their support of our efforts to provide advanced memory solutions to our customers" said Steve Appleton, chairman, CEO and president of Micron Technology. "Micron is committed to the support, development and production of DDR2 on leading-edge technology and Intel's investment will further enable these efforts." "The availability of high-performance memory is critical as we continue to develop advanced microprocessors and communications components," said Intel CEO Craig Barrett. "Intel is making this investment in Micron to help enable such high-end memory capabilities as DDR2 to meet the requirements of our future-generation products." The companies also announced plans to collaborate on the design for future generations of memory technologies. Micron Technology is one of the world's leading providers of advanced semiconductor solutions. Through its worldwide operations, Micron Technology manufactures and markets DRAMs, Flash memory, CMOS image sensors, other semiconductor components and memory modules for use in leading-edge computing, consumer, networking and mobile products. Micron's common stock is traded on the New York Stock Exchange (NYSE) under the MU symbol. To learn more about Micron Technology, visit www.micron.com. Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. For more information, visit www.intel.com/capital.Intel is a trademark or registered trademark of Intel Corporation or its subsidiaries in the United States and other countries. Micron is a registered trademark of Micron Technology, Inc. * Other names and brands may be claimed as the property of others. |
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