-Companies also disclose technical amendment to the plan of arrangement in connection with proposed acquisition-
SUNNYVALE, CALIF. and MARKHAM, ONTARIO - Oct. 2, 2006 -Advanced Micro
Devices, Inc. (NYSE: AMD) and ATI Technologies Inc. (TSX: ATY, NASDAQ:
ATYT) today announced that the Fair Trade Commission of Taiwan has
cleared the proposed acquisition of ATI by AMD.
The proposed acquisition, announced on July 24, 2006, still remains
subject to the approval of ATI shareholders, court approval of the plan
of arrangement, approval by the Minister of Industry under the
Investment Canada Act and other customary closing conditions. Subject
to satisfaction or waiver of these conditions, the transaction is
expected to be completed prior to the end of October 2006.
AMD and ATI also disclosed that they have agreed to a technical
amendment to the Plan of Arrangement that clarifies that the "Parent
Closing Stock Price" is the volume weighted average trading price,
rounded to the nearest cent, of AMD's Common Stock for the 10 trading
days immediately prior to (but excluding) the effective date (as defined
in the plan of arrangement). The timing of the period begins at 9:30
a.m. EDT on the first day through 4:30 p.m. EDT on the last day of the
10 trading-day period. This volume weighted average trading price will
be determined using the "Bloomberg VWAP" on the Volume-Weighted Average
Quote
Recap page of Bloomberg or, if the Bloomberg VWAP is not available,
using another reputable source as decided by AMD and ATI.
About AMD
Advanced Micro Devices (NYSE: AMD) is a leading global provider of
innovative microprocessor solutions for computing, communications and
consumer electronics markets. Founded in 1969, AMD is dedicated to
delivering superior computing solutions based on customer needs that
empower users worldwide. For more information visit http://www.amd.com
About ATI
ATI Technologies Inc. is a world leader in the design and manufacture of
innovative 3D graphics, PC platform technologies and digital media
silicon solutions. An industry pioneer since 1985, ATI is the world's
foremost graphics processor unit (GPU) provider and is dedicated to
deliver leading-edge performance solutions for the full range of PC and
Mac desktop and notebook platforms, workstation, set-top and digital
television, game console and handheld device markets. With fiscal 2005
revenues of US $2.2 billion, ATI has approximately 4,000 employees in
the Americas, Europe and Asia. ATI common shares trade on NASDAQ (ATYT)
and the Toronto Stock Exchange (ATY).