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Updated: July 8th, 2008 05:26 PM CDT

MagnaChip Disputes Pixelplus Allegations

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via PRNewswire

SEOUL , South Korea , Feb. 22 /PRNewswire/ -- MagnaChip Semiconductor Ltd.,a leading global designer, developer and manufacturer of image sensor solutions, mixed signal and digital multimedia semiconductors, strongly believes that the defamation and tortious business interference lawsuit filed by Pixelplus (Nasdaq: PXPL) is baseless, and MagnaChip will vigorously fight these claims. Further, MagnaChip will continue to pursue the infringement action filed early this year against Pixelplus on three additional patents and intends to appeal the recent ruling by the Seoul Central District Court on the patents filed previously.

About MagnaChip Semiconductor

MagnaChip Semiconductor is a leading designer, developer and manufacturer of mixed-signal and digital multimedia semiconductors addressing the convergence of consumer electronics and communications devices. We focus on CMOS image sensors and flat panel display drivers, which are complex, high performance, mixed signal semiconductors that capture images and enable and enhance the features and capabilities of both small and large flat panel displays. MagnaChip also provides wafer foundry services utilizing CMOS highvoltage, embedded memory, analog and power process technologies for the manufacture of IC's for customer-owned designs. MagnaChip has world-class manufacturing capabilities and an extensive portfolio of approximately 8,500 registered and pending patents. As a result, MagnaChip is a valued partner inproviding leading technology solutions to its customers worldwide. For more information, visit www.magnachip.com.

Forward-Looking Statements:

Certain statements in this press release including statements regarding expected future financial and industry growth are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. In some cases, you can identify forward-lookingstatements by such terms as "believes," "expects," "anticipates," "intends," "estimated," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business and economic conditions and the state of the semiconductor industry; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling price; delays in new product introduction; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its quarterly report on Form 10-Q for the quarter ended October 1, 2006 .

Although we believe that the expectations reflected in the forward looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements.

CONTACTS: In Korea: In the U.S.: Youngjae Chang, PR Manager David Pasquale, EVP at The Ruth Group Tel: 82-2-3459-5884 Tel: +646-536-7006 youngjae.chang@magnachip.com dpasquale@theruthgroup.com

SOURCE MagnaChip Semiconductor Ltd.


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