Intellectual Property & Services For Reliable SiPs

Inapac Secures $15 Million in Third Round of Financing

Additional Funding Supports Company Transition to High Volume Production

San Jose, CA, -- June 8, 2004 - Inapac Technology, Inc., the leading semiconductor company exclusively focused on DRAM for system-in-package (SiP) applications, announced today that it has secured more than $15M in its third round of financing. This latest round of funding was led by AsiaVest Partners, with strong support from strategic investors ProMos Technologies, UTC and Itochu. Existing investors also showed substantial commitments, including AsiaTech Management, CDIB and Novus Ventures. Inapac will use the funds to ramp up to high volume manufacturing, add to its product offerings, and strengthen its worldwide sales, operations and test engineering support teams.

Leveraging the company's patented VIBE™ (Voltage Induced Burn-in Emulation) technology, Inapac has established itself as the leading provider of memory devices for system-in-package applications, and has the only DRAM program specifically focused on SiP.

"Inapac has redefined DRAM for the SiP market with its unique market focus and breakthrough burn-in emulation technique," said Franny Lee, Managing Director at AsiaVest Partners. "Top-tier processor companies have told us that the company's proprietary technology is able to fulfill their ever-changing memory power, performance and form factor requirements for their SiP memory solutions. As a result, we believe that Inapac is strongly positioned for continued success in the growing SiP market."

"Inapac's unique die products were fully functional at first silicon, and we are now ready to support them as they transition to mass production," said Dr. Albert Lin, Senior Director at ProMOS Technologies. "Inapac is bringing innovative and low-cost memory integration into mainstream consumer electronic ICs, giving the company an edge in the emerging SiP DRAM market. We are glad to be both an investor and a foundry partner to Inapac."

"We are extremely pleased to have earned the continued confidence of our previous investors, and we welcome new top-tier partners AsiaVest, UTC, ITOCHU and ProMOS as they join our team," said Jean-Pierre Braun, Inapac's President and CEO. "This new funding will enable Inapac to move into volume production, expand our team and capabilities, as well as add to our product portfolio. Our high quality memory dice have now been qualified by multiple customers, and we expect to gain a dominant share of the growing SiP DRAM market in the next 12 months."

In the past nine months, fueled by growing DRAM for SiP demand and the industry's accelerating move toward greater system-level integration in smaller form factors, Inapac has doubled its workforce and will continue to hire engineering, operations and business staff. The company recently moved into its newly expanded headquarters in San Jose, California, opened a branch office in Hsinchu, Taiwan, and increased the size of its office in Boise, Idaho.

About Inapac
Inapac Technology, Inc. is the leading semiconductor company exclusively focused on DRAM for system-in-package (SiP) applications. Founded in 2000 by an expert team of DRAM specialists, Inapac has developed a family of unique die products architected and optimized for its target markets. Based on Inapac's patented VIBE™ technology, these die components are used by some of the largest semiconductor and systems companies in the world to enhance the performance and quality of some of their leading products, in particular in the cell phone, hard disk drive, and digital imaging markets. Inapac is headquartered in San Jose, California with additional offices in Boise, Idaho and Hsinchu, Taiwan. For more information, visit the company's website at www.inapac.com.

Media Contact
John C. Tran
john_tran@e21corp.com
510-226-6780 x154