TOKYO, JAPAN: Elpida Memory Inc. (Elpida), Japan's leading global supplier of DRAM, announced that it has acquired a portion of the shares its strategic partner Powerchip Semiconductor Corp. (PSC) owns in Rexchip Electronics Corp. (Rexchip), a Taiwan-based manufacturing joint venture created by PSC and Elpida.

As a result of the acquisition Rexchip now becomes a consolidated subsidiary of Elpida.

More details about the acquisition can be found in the November 27, 2008 news entitled "Elpida to Make Rexchip a Subsidiary by Acquiring Shares from PSC" available at Elpida's website.

Share acquisition background
On March 16, 2009, Elpida acquired a portion of the Rexchip shares held by PSC and its subsidiary companies to raise its holding in Rexchip to 52 percent, thus becoming Rexchip's leading major shareholder. As a result of the acquisition, Rexchip has now become a consolidated subsidiary of Elpida.

Overview of Rexchip
1) Corporate Name: Rexchip Electronics Corp.
2) Chairman: Frank Huang
3) Headquarters: HouLi, Taichung County, Taiwan
4) Established: November 10, 2006
5) Major business operations: Semiconductor memory (DRAM) wafer processing
6) End of fiscal year: December 31

Future outlook
The effect of the acquisition on Elpida's FY 2008 (ending March 2009) consolidated earnings performance is expected to be minimal.