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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: Fabeyes who wrote (50778)	3/15/2000 10:31:00 PM
From: Fabeyes	Read Replies (2) \| Respond to of 53903

A BLAST FROM THE PAST [ 1999 Press Releases ] [ 1998 Press Releases ] [ 1997 Press Releases ] Editorial Contact: Kipp Bedard at Micron Technology, Inc. (208) 368-4400 Fax-on-demand: (800) 239-0337 MICRON TECHNOLOGY, INC., REFUTES UNSUBSTANTIATED CLAIMS MADE BY DRESDNER KLEINWORT BENSON Boise, Idaho, July 12, 1999 -- Micron Technology, Inc., today refuted unsubstantiated claims made about Micron in a recent analyst report issued by Dresdner Kleinwort Benson in Japan. Claims made in the report, including those of a major design defect in the company's 64 Meg SDRAM and of an inability to ship the product, were firmly denied by the company. The company's 64 Meg SDRAM, which has been qualified by all major customers, continues to be shipped in full volume to such customers. Claims that the company must redesign its 64 Meg SDRAM or that Compaq, Hewlett Packard or other major customers have cancelled orders are not true. The company has no plans to stop or otherwise slow down production and is proceeding on schedule with its .21æ and .18æ 64 Meg SDRAM production at all facilities. In addition, the company is not aware of any customer recalls due to Micron product. "Although the company normally does not respond to comments made by industry analysts, the misinformation contained in the Dresdner Keinwort Benson report is so inflammatory and rumors have persisted for so long that the company felt it was appropriate to respond," said Steve Appleton, Micron Chairman, CEO and President. "It is unfortunate that Dresdner would propagate this misinformation in the marketplace and that others would continue to irresponsibly report these inaccurate claims. We are currently reviewing our legal options." The company supports recent action taken by Kobe Steel, which notified Japan's Securities and Exchange Surveillance Commission of the false report and requested an investigation on behalf of KMT Semiconductor, a joint venture of Kobe and Micron. "I question why an analyst would issue such a report without doing proper due diligence or even contacting any of the companies referenced to determine its validity," added Appleton.