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To: puborectalis who wrote (15604)	10/15/2000 4:44:16 PM
From: puborectalis	Read Replies (1) \| Respond to of 60323

Tower increases investment in flash partner Saifun Semiconductor Business News (10/13/00, 09:10:41 AM EDT) MIGDAL HAEMEK, Israel--Silicon foundry supplier Tower Semiconductor Ltd. here said it has invested $1 million in its flash technology partner, Saifun Semiconductor Ltd., as part of a $40 million round in private financing at the Israeli chip company. "We are confident that Saifun's unique flash technology, co-developed with Tower, will play a major roll in our planned Fab 2," said Rafi Levin, co-CEO at Tower. Earlier this week, Tower announced that the Israeli finance minister had recommended a $250 million government grant to help the silicon foundry build a new $1.25 billion 8-inch wafer fab in Migdal Haemek, next to its existing 6-inch plant (see Oct. 11 story). During this year, Tower has signed up investors and technology partners for the new fab, including pacts with Toshiba, SanDisk, Alliance Semiconductor, and Macronix International. Tower and fabless Saifun are jointly developing what they describe as a revolutionary flash memory technology that delivers significant cost reduction and smaller die sizes. Last week, Saifun and Tower claimed a new 2-Mbit "NROM" flash memory demonstrated 10 years of data retention capability (see Oct. 6 story). In total, Tower has invested $6 million in Saifun, which has a valuation of about $400 million, according to the Israeli foundry company.