Hynix and Grandis Sign License and Joint Development Agreement on Spin-Transfer Torque MRAM

ICHEON, Korea -- April 2nd, 2008 -- Hynix Semiconductor Inc. and Grandis Inc. today announced that they have signed a long-term license agreement for memory products incorporating Grandis’ patents and intellectual property in spin-transfer torque random access memory (STT-RAM). The two companies have also entered into a collaborative agreement to jointly integrate Grandis’ fundamental STT-RAM technology into Hynix’s future memory products.

STT-RAM is a next-generation, non-volatile memory (NVM) solution that overcomes the limitations of conventional magnetic RAM (MRAM) technologies. While existing memory technologies prove to be very difficult for manufacturing beyond the 40-nm process node, STT-RAM shows excellent scalability with shrinking design rules, which translates to greater density and, ultimately, lower cost per die. STT-RAM also consumes less power than existing mainstream memories, and provides unlimited endurance as well as fast read/write capability.

Technical teams from both companies will work together to implement Grandis’ STT-RAM technology, including magnetic tunnel junction (MTJ) materials and structures optimized for low writing current and high thermal stability, integration of MTJ and CMOS processes and design of STT-RAM cells and memory arrays.

“Hynix is committed to being at the forefront of next-generation memory development,” said Sung Wook Park, Head of R&D Division of Hynix. “Grandis is leading in STT-RAM technology and has a broad portfolio of fundamental patents in this area. Through this partnership with Grandis, we look forward to integrating leading-edge STT-RAM technology into our semiconductor manufacturing processes and to a new era in memory capability at advanced technology nodes.”

"STT-RAM is a disruptive technology that combines all the benefits of SRAM, DRAM and Flash memory, as well as offering scalability to future process nodes,” said Farhad Tabrizi, president and chief executive officer of Grandis. “Our recent advances in magnetic materials have significantly lowered write current and opened up new markets for STT-RAM. We are excited to partner with Hynix, a world leader in DRAM, in developing STT-RAM memory products and accelerating their time to market with our leading STT-RAM technology.”

About Hynix Semiconductor Inc.

Hynix Semiconductor Inc.(HSI) of Icheon, Korea, is the world’s top tier memory semiconductor supplier offering Dynamic Random Access Memory chips (“DRAMs”) and Flash memory chips to a wide range of established international customers. The Company’s shares are traded on the Korea Stock Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about Hynix is available at www.hynix.com

About Grandis, Inc.

Grandis is the pioneer in the development of spin-transfer torque RAM (STT-RAM), a universal and scalable memory solution. Grandis licenses its technology to companies that are developing a variety of products incorporating stand-alone and embedded STT-RAM memory. It offers its licensees a complete range of support services from process installation through qualification. By combining non-volatility and high performance with low-power consumption and low cost, STT-RAM can revolutionize the performance of electronic products in many markets. Grandis was established in 2002, and is headquartered in Silicon Valley, California. Investors include Applied Ventures LLC, Sevin Rosen Funds, Matrix Partners, Incubic and Concept Ventures. Additional information about the company is available at www.grandisinc.com