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SST And Nanotech Corporation Sign Flash Memory Agreement

SST (SSTI) and Nanotech Corporation, a semiconductor foundry located in Changzhou announced the companies have entered into a multi-faceted investment, technology licensing and foundry relationship. Under terms of the agreement, Nanotech, will license SST's 0.25micron self-aligned SuperFlash technology, thus providing Nanotech's foundry customers, who are developing programmable logic and embedded flash memory products, access to SST's high-performance flash memory technology.

Additionally, Nanotech's fabrication facility in the Changzhou National Hi-Tech District will serve as a foundry for SST, manufacturing SST's

SuperFlash-based products at 0.25 micron process geometry. This relationship significantly increases SST's access to low cost manufacturing capacity, enabling the company to continue its dominance in the low-density flash market.

As part of the agreement, SST, through its subsidiary SST International, has purchased Series B preferred shares of Nanotech Corporation, incorporated in Cayman Islands. Proceeds from the Series B and a new round of Series C financing are expected to be used to build a new fabrication facility in Changzhou, Jiangsu Province, China.

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