Press Release

ICmic Announces the Signing of MOU with Alfaisal International Academy of Riyadh for the Setting Up of Advanced Microelectronics Academy in Saudi Arabia

Cyberjaya, Malaysia 15 September 2006

IC MICROSYSTEMS Sdn. Bhd. (ICmic), a leading Malaysian-based fabless IC [integrated circuit] Design company with headquarters in Cyberjaya, Malaysia, announces the signing of a Memorandum of Understanding [MOU] with Alfaisal International Academy [ALFAC], a Member of the Arabian Education and Training Group, Kingdom of Saudi Arabia, in Riyadh, Saudi Arabia. The MOU underlines the collaboration between ICmic and ALFAC for the setting up of an Advanced Microelectronic Academy in Saudi Arabia. It was signed by Mr. Abdul Rashid Munir, President and Chief Executive Officer of ICmic whilst ALFAC was represented by the Managing Director, Mr. Ahmad A. Altaweel.

“This is another significant milestone in recognition of ICmic’s capabilities in this highly knowledge-driven semiconductor industry” said Abdul Rashid, after the Signing Ceremony held in Riyadh. He added, “ICmic is excited with this opportunity to work with ALFAC to contribute in enhancing the development of Integrated-Circuit and Electronics System Design competencies in Saudi Arabia and the region”.

“ALFAC, being in high-end technical development, is confident to produce highly competent expertise in Microelectronics Engineering through this work with ICmic, a proven leading Malaysian IC design company. This signing marks a new era in the development of Saudi Arabian’s microelectronics expertise. We will see expertise being produced of a new level”, said Mr. Ahmad A. Altaweel.

The two companies are expected to invest about RM81 million (US$ 22.5 million) in the setting-up of the training centres and various laboratories. This high expertise development will include commercial level product developments and creation of spin-off companies for the product being developed through its incubators and labs.

In addition to the setting up of the Academy, both parties will work together particularly in promoting, developing and enhancing the microelectronics competencies, investment and business by sharing and combining relevant information, knowledge, resources and expertise.

About ICmic

IC MICROSYSTEMS Sdn. Bhd. (www.icmic.com) is a leading IC [integrated circuit] Design Company based in Cyberjaya, Malaysia with an office in Santa Clara, California. It is a Multimedia Super Corridor (MSC) status company and has a global customer base with proven products performance in costs and technology. The company's product portfolio also includes world-class Mixed-Signal IC's in the form of Digital to Analog Converters IC's, fixed-line Phone IC's, RFIC's and Serial EEPROM.

About ALFAC

Alfaisal International Academy [www.alfac.edu.sa] is the largest Private Training and Professional Development Institution in Saudi Arabia. ALFAC has more than 3,000 students in its four campuses in major metropolitan centres in Saudi Arabia.

For more information, please contact Puan Shafura Mat Saman at 03-83191919 or shafura@icmic.com.