Qimonda to restore compliance with NYSE

MUNICH, GERMANY: Qimonda AG announced that on December 5, 2008 it was notified by the New York Stock Exchange (NYSE) that it is not in compliance with another of the NYSE's continued listing standards.

Qimonda is considered "below compliance" because its average global market captialization fell below $100 million over a consecutive thirty trading day period. As previously announced, on November 7, 2008 Qimonda was notified by the NYSE that it was below compliance because the price of its American Depositary Shares (“ADSs”) had fallen below $1.00 over a consecutive thirty trading day period. The NYSE has included the indicator "BC" on its consolidated tape since the previous notice, indicating that Qimonda is below the NYSE's quantitative continued listing standards.

In order to restore compliance with the market capitalization standard, Qimonda must have an average global market capitalization at or above $100 million over a consecutive thirty day trading period 18 months from the date that Qimonda received formal written notice of non-compliance of the market capitalization standard from the NYSE.

Under the applicable rules and regulations of the NYSE, Qimonda has notified the NYSE of its intention to return to compliance and submitted a business plan outlining definitive actions that Qimonda is already taking to comply again with the market capitalization standard and to increase the price of its ADSs to over $1.00. The NYSE is currently reviewing the plan submitted by Qimonda and if the plan is accepted, Qimonda will be subject to on-going monitoring by the NYSE. Qimonda intends to return to compliance under both standards and will remain in communication with the NYSE throughout the process.

Under the NYSE rules, should Qimonda fail to increase the average closing price of its ADSs to the required level at the expiration of the six months period on May 7, 2009 or fail to increase the average global market capitalization to the required level by June 5, 2010, the NYSE will commence suspension and delisting procedures.

During this cure period, Qimonda’s ADSs will continue to be listed on the NYSE, subject to ongoing reassessment. This NYSE notification of non-compliance will not affect the Qimonda’s business operations, does not change its SEC reporting requirements and has no effect under any of the Qimonda’s credit agreements or the 6.75 percent Senior Unsecured Convertible Notes issued by Qimonda’s finance subsidiary.