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Technology Stocks : Kulicke and Soffa -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (5360)	1/9/2004 11:30:19 PM
From: Ian@SI	Read Replies (1) \| Respond to of 5482

Kulicke & Soffa Redeems 4 3/4% Convertible Subordinated Notes WILLOW GROVE, PA, Jan. 06, 2004 (MARKET WIRE via COMTEX) -- Kulicke & Soffa Industries, Inc. (NASDAQ: KLIC) today announced it has completed the redemption of its 4 3/4% Convertible Subordinated Notes due 2006 (the "4 3/4% Notes") in their entirety. The redemption price was equal to 102.036% of the principal amount plus interest accrued through the date of redemption. The Company used approximately $178.6 million to redeem the 4 3/4% Notes. Funding was from the net proceeds of the Company's recent private placement to qualified investors of $205 million of 0.5% Convertible Subordinated Notes due 2008 (the "0.5% Notes"). The Company's quarterly interest payment on its 4 3/4% Notes was approximately $2.1 million. The Company expects the new quarterly interest payment on its 0.5% Notes to be approximately $0.3 million. In connection with the redemption of its 4 3/4% Notes, the Company will incur a $2.7 million non-cash charge related to write-off of the unamortized debt issuance costs. The Company intends to use the balance of the proceeds from the 0.5% Notes to redeem a portion of its 5 1/4% Convertible Subordinated Notes due 2006 (the "5 1/4% Notes") when those notes become subject to redemption in August 2004. The Company may also purchase the 5 1/4% Notes from time to time if reasonable prices can be obtained. Caution Concerning Forward-Looking Statements