ChipMOS RECEIVES INITIAL PAYMENT FROM SALE OF SPANSION CLAIM

USA - English

• USA - English
• USA - English

HSINCHU, Taiwan, Feb. 22 /PRNewswire-Asia-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today announced that ChipMOS TECHNOLOGIES, INC. ("ChipMOS Taiwan"), a wholly owned subsidiary of ChipMOS, has received the initial payment of approximately US$33 million from escrow agent for the sale of accounts receivable for testing and assembly services provided to Spansion in the amount of approximately US$66 million to US$70 million.

This is based on the definitive Transfer Of Claim Agreement to sell to Citigroup Financial Products Inc. the general unsecured claim reflected in the proof of claim against Spansion Inc., Spansion Technology LLC, Spansion LLC, Spansion International Inc. and Cerium Laboratories LLC filed by ChipMOS Taiwan in United States Bankruptcy Court as disclosed in the Company's January 14 and 26, 2010 press releases.

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.

    For more information, please contact:

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

    In the U.S.
     David Pasquale
     Global IR Partners
     Tel:   +1-914-337-8801
     Email: [email protected]

SOURCE ChipMOS TECHNOLOGIES (Bermuda) LTD.