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To: marquis103 who wrote (2214)	8/16/1999 9:11:00 PM
From: Ian@SI	Read Replies (1) \| Respond to of 2946

Russ, I don't remember seeing this in the news. From SVGI's 10Q. 8. PREFERRED STOCK On May 5, 1999 Intel Corporation ( "Intel" ) made a $15,000,000 equity investment in the Company in the form of a purchase of 15,000 shares of newly issued non-voting Series 1 Convertible Preferred Stock ("Series 1 Preferred"). The Series 1 Preferred investment is convertible into 1,111,111 shares of the Company's Common Stock subject to adjustments for events of dilution in certain circumstances such as stock splits or dividends. Intel has the option to convert, at any time, it's Series 1 Preferred into shares of the Company's Common Stock. 8 In connection with the Series 1 Preferred investment, Intel and the Company entered into an agreement for the development of 157-nanometer lithography technology. This agreement obligates the Company, among other things, to develop and sell to Intel a predetermined number of initial tools. Intel has agreed to provide advance payments for the development and manufacture of these machines based on predetermined milestones. Under certain conditions, the Company is obligated to dedicate a certain amount of 157-nanometer unit production output to Intel. The Company is required to use the proceeds from the Series 1 Preferred investment and funds received under this development agreement for the development of technology for use on 157-nanometer lithography equipment.