Intel Makes $500 Million Equity Investment In Micron Technology, Inc.

Funding to support memory development and supply, accelerate RDRAM development

SANTA CLARA, Calif., Oct. 16, 1998 - Intel Corporation and Micron Technology, Inc., announced today that Intel will make a $500 million equity investment in Micron. Intel will acquire stock rights exchangeable for common stock representing approximately 6 percent of Micron's outstanding common stock.

The investment in Micron is part of Intel's strategy to support the development and supply of next generation memory products and to help drive PC industry growth by accelerating the adoption of Direct RDRAM, a high-speed memory interface technology developed by Rambus, Inc. By providing additional financial resources, the investment by Intel should enhance Micron's competitive position in the DRAM industry.

"We are pleased with Intel's support for our efforts to provide advanced memory solutions to our customers." said Steve Appleton, president, chairman, and chief executive officer of Micron Technology, Inc. "Micron is committed to accelerated support, development, and production of Direct RDRAM, and we expect to have these products available for shipment as early as the third quarter of 1999."

"Micron is one of the industry leaders with a new generation of products and leading-edge manufacturing technology," said Craig Barrett, Intel president and chief executive officer. "Our goal in making this equity investment is ensuring an adequate supply of memory components, particularly Direct RDRAM. This is a significant strategic investment that supports our microprocessor roadmap into 2000 and beyond."

Micron Technology, Inc., and its subsidiaries manufacture and market DRAMs, very fast SRAMs, Flash, other semiconductor components, memory modules, graphics accelerators, personal computer systems, and radio frequency identification (RFID) products. Micron's common stock is traded on the New York Stock Exchange (NYSE) under the symbol MU. To learn more about Micron Technology, Inc., visit its web site at www.micron.com.

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