Amkor Completes Acquisition Of Citizen Watch Co. Assembly Business.

Business Editors/High-Tech Writers

CHANDLER, Ariz.--(BUSINESS WIRE)--May 1, 2002

Amkor Technology, Inc. (Nasdaq: AMKR) has completed the acquisition of the semiconductor assembly business of Citizen Watch Co., Ltd. The transaction was originally announced on January 24, 2002. Transaction terms were not disclosed, but involved an initial cash payment to Citizen, with additional payments to be determined by revenue streams over the next year.

Located in Kitakami, Iwate Prefecture, Japan, Citizen's assembly business operates as a contract manufacturer, providing advanced IC packaging for a broad range of Japanese semiconductor companies. Amkor has acquired the assembly operations, together with Citizen's IC packaging intellectual property, and hired 83 employees involved in the business.

"This transaction, together with our existing, successful joint venture with Toshiba and our recently announced proposed venture with Fujitsu, reaffirms Amkor's leadership position in promoting the outsourced assembly and test model within the Japanese semiconductor industry," said James Kim, Amkor's chairman and chief executive officer.

"The Citizen acquisition enhances our product offerings in Japan, increases our customer base and provides additional resources to expand our applications development and design services," said Naohiko Urasaki, Japan country manager for Amkor. "We welcome our new associates into the Amkor family and look forward to their contributions."

About Amkor Technology

Amkor Technology, Inc. is the world's largest provider of outsourced semiconductor assembly and test services. The company offers semiconductor companies and electronics OEMs a complete set of microelectronic design and manufacturing services. More information on Amkor is available from the company's SEC filings and on Amkor's web site: www.amkor.com.