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Technology Stocks : Energy Conversion Devices -- Ignore unavailable to you. Want to Upgrade?

To: Krowbar who wrote (6433)	8/28/2001 12:10:43 PM
From: Krowbar	Read Replies (2) \| Respond to of 8393

INTEL COMPLETES UP-FRONT LICENSE FEE PAYMENTS TO OVONYX Troy, Mich., August 28, 2001 – Energy Conversion Devices, Inc. (ECD) (NASDAQ:ENER) announced today that Ovonyx, Inc. (Ovonyx) has received the final payment of up-front fees from Intel Corporation (Intel) to perfect Intel’s royalty-bearing license under Ovonic Unified Memory (OUM) technology for next generation semiconductor memory products, both discrete memory and certain embedded memory products. This comes on the heels of announcements by Intel relating to the development of new memory technology that is vital to the next generation of products in the mobile device industry, such as cell phones and handhelds. Intel has reported that “…. we’re banking on ovonics” and “of the new technologies Intel is researching, OUM is likely the most promising for its combination of low cost and ease of integration with other memory technologies.” Ovonyx and Intel continue to jointly develop OUM at Intel facilities in Santa Clara, California. Ovonyx is a joint venture between ECD and Tyler Lowrey, former Chief Technical Officer and Chief Operating Officer of Micron Technology, with equity investment by Intel Capital and other investors. Ovonyx was formed to commercialize semiconductor memory applications of the proprietary phase-change technology originally developed by ECD. OUM nonvolatile memory technology can offer significantly faster write and erase speeds and higher cycling endurance than conventional Flash memory. It also has the advantage of a simple fabrication process that allows the design of semiconductor chips with embedded nonvolatile memory using only a few additional mask steps. Additional information about Ovonyx and OUM is available at www.ovonyx.com. Del