Infineon Technologies AG Emphatically Rejects Accusations of Deception
Neubiberg, Germany – December 19, 2008 – Infineon Technologies AG (FSE/NYSE: IFX) emphatically rejects accusations which, the German daily newspaper “Süddeutsche Zeitung” stated on December 18, 2008, have been leveled at Infineon by national government circles and by the government of the state of Saxony.
Claims that parent company Infineon included fictitious transactions in Infineon’s and Qimonda’s rescue plan are false. Infineon is not in a position to intervene in the accounting of Qimonda, an independent, listed company. The business plan presented by Qimonda was audited by two renowned firms, Price Waterhouse Coopers (PWC) und Arthur D. Little (ADL). No accusations of the kind that “Süddeutsche Zeitung” states were raised in government circles were leveled at Infineon during the course of negotiations.
The claim raised by the government of the state of Saxony, according to “Süddeutsche Zeitung”, that Infineon had submitted different proposals to a number of individual negotiators is false. What is correct is that Infineon, during the course of the negotiations, improved and raised substantially its original offer of support for Qimonda.
Infineon Technologies AG, Neubiberg, Germany, offers semiconductor and system solutions addressing three central challenges to modern society: energy efficiency, communications, and security. In the 2008 fiscal year (ending September), the company reported sales of Euro 4.3 billion with approximately 29,100 employees worldwide. With a global presence, Infineon operates through its subsidiaries in the U.S. from Milpitas, CA, in the Asia-Pacific region from Singapore, and in Japan from Tokyo. Infineon is listed on the Frankfurt Stock Exchange and on the New York Stock Exchange (ticker symbol: IFX). Infineon currently holds a 77.5 percent equity interest in Qimonda AG, a leading supplier of DRAM memory products. Qimonda is separately listed on the New York Stock Exchange under the ticker symbol “QI”.