ChipMOS ENTERS INTO SETTLEMENT AGREEMENT WITH SPANSION

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ChipMOS TECHNOLOGIES (Bermuda) LTD.

Oct 04, 2010, 08:00 ET

HSINCHU, Oct. 4 /PRNewswire-Asia-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today announced that ChipMOS TECHNOLOGIES, INC. ("ChipMOS Taiwan"), a 91% owned subsidiary of ChipMOS, has entered into a settlement agreement (the "Agreement") with Spansion LLC for its general unsecured claim on breach of contract and liquidated damages rights reflected in the proof of claim, Claim No. 5, against Spansion Inc., Spansion Technology LLC, Spansion LLC, Spansion International Inc. and Cerium Laboratories LLC filed by ChipMOS Taiwan in United States Bankruptcy Court. Under the Agreement, the total amount of recognized damage on breach of contract and liquidated damages rights was US$135 million.

Based on the Company's earlier disclosed information about this transaction on its January 14 and 26, 2010 press releases, ChipMOS Taiwan will be receiving approximately US$68 million from the above arrangement.

About ChipMOS TECHNOLOGIES (Bermuda) LTD.:

ChipMOS (http://www.chipmos.com ) is a leading independent provider of semiconductor testing and assembly services to customers in Taiwan, Japan, and the U.S. With advanced facilities in Hsinchu and Southern Taiwan Science Parks in Taiwan and Shanghai, ChipMOS and its subsidiaries provide testing and assembly services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.

Forward-Looking Statements

Certain statements contained in this announcement may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC.

    Contacts:

    In Taiwan
     Dr. S.K. Chen
     ChipMOS TECHNOLOGIES (Bermuda) LTD.
     Tel:   +886-6-507-7712
     Email: [email protected]

    In the U.S.
     Chesha Gibbons
     Director of Investor Relations
     Tel:   +1-415-786-9684
     Email: [email protected]

     David Pasquale
     Global IR Partners
     Tel:   +1-914-337-8801
     Email: [email protected]

SOURCE ChipMOS TECHNOLOGIES (Bermuda) LTD.

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