Agilent Technologies' Semiconductor Test Subsidiary, Verigy, Files Registration Statement for Initial Public Offering.

PALO ALTO, Calif. -- Agilent Technologies (NYSE:A) today announced that its subsidiary, Verigy Pte. Ltd., has filed an S-1 Registration Statement with the U.S. Securities and Exchange Commission (SEC) for Verigy's initial public offering. Verigy designs, develops, manufactures and sells advanced test systems and solutions for the semiconductor industry.

This filing moves Agilent a step closer to spinning off its semiconductor test business (including its system-on-chip and memory test solutions) and to becoming a pure-play measurement company. Agilent announced this strategy on Aug. 15, 2005.

In the filing, Agilent confirmed that following the initial public offering, it intends to distribute its remaining interest in Verigy to Agilent stockholders by Oct. 31, 2006, the end of Agilent's fiscal year.

The number of shares to be offered and the price range for the offering have not yet been determined. Goldman, Sachs & Co. will be lead manager and sole book-runner; Credit Suisse Securities (USA) LLC will be co-lead manager; and Cowen & Co., LLC and Thomas Weisel Partners LLC will be co-managers.

The offering will be made only by means of a prospectus. When available, a copy of the preliminary prospectus may be obtained by writing to or telephoning the underwriters:

Goldman, Sachs & Co.
    Attn: Prospectus Department
    85 Broad Street
    New York, NY 10004-2408
    Telephone: [phone]

    Credit Suisse Securities (USA) LLC
    Prospectus Department
    One Madison Avenue
    New York, NY 10010
    Telephone: [phone]

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Forward-Looking Statements:

This news release contains a number of forward-looking statements that involve risks and uncertainties. These forward-looking statements include, but are not limited to, statements regarding Agilent Technologies' intention to separate its semiconductor test business and to distribute the remaining shares of Verigy to its stockholders. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual events to differ materially from those in the forward-looking statements. The risks and uncertainties include, but are not limited to, the inability of Agilent to manage successfully and complete the separation, including the ability to retain and attract key employees; risks relating to the allocation of assets and personnel between the companies; the risk that the initial public offering of Verigy may not occur in its expected timeframe or at all; the risk of a downturn in the companies' target markets; and the possibility of unfavorable economic conditions in general. Agilent undertakes no duty to update the forward-looking statements herein.

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