Microchip and ON Semiconductor Respond to Atmel Board Rejection

CHANDLER & PHOENIX, Ariz.--(BUSINESS WIRE)--

Microchip Technology Incorporated (NASDAQ: MCHP) and ON Semiconductor Corporation (NASDAQ: ONNN) today announced that they are disappointed with Atmel Corporation's (NASDAQ: ATML) rejection of Microchip's and ON Semiconductor's proposal to acquire Atmel for a significant premium at $5.00 per share in cash without engaging in any discussions with Microchip and ON Semiconductor. Microchip and ON Semiconductor will consult with their respective Boards of Directors and advisors and will determine their next steps in due course.

About Microchip Technology

Microchip Technology Incorporated (NASDAQ: MCHP) is a leading provider of microcontroller and analog semiconductors, providing low-risk product development, lower total system cost and faster time to market for thousands of diverse customer applications worldwide. Headquartered in Chandler, Ariz., Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit Microchip's website at www.microchip.com.

About ON Semiconductor

With its global logistics network and strong product portfolio, ON Semiconductor Corporation (NASDAQ: ONNN) is a preferred supplier of high performance, energy efficient, silicon solutions to customers in the power supply, automotive, communication, computer, consumer, medical, industrial, mobile phone, and military/aerospace markets. The company's broad portfolio includes power, analog, DSP, mixed-signal, advance logic, clock management, non-volatile memory and standard component devices. Global corporate headquarters are located in Phoenix, Arizona. The company operates a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe, and the Asia Pacific regions. For more information, visit http://www.onsemi.com.

Source: Microchip Technology Incorporated and ON Semiconductor Corporation

Released October 30, 2008