Class Action Suit Filed Against IMP, Inc. and its Officers and Directors Alleging Misrepresentations and Insider Trading.

SAN DIEGO--(BUSINESS WIRE)--Sept. 17, 1996--A class action has been commenced in the California Superior Court for Santa Clara County by plaintiffs Jeff Lee and Morris Rubin on behalf of purchasers of IMP, Inc. ("IMP") common stock during the period April 24, 1996 to July 22, 1996.

The complaint charges IMP and certain of its officers and directors with violations of the California Corporations, Civil and Business & Professions Codes. IMP is a supplier of analog and mixed signal CMOS integrated circuit solutions. Defendants' positive statements, primarily about the strong demand for and growing backlog of IMP's products, which would lead to strong earnings per share growth in Fiscal 1997, drove IMP's stock from less than $7 per share near the beginning of the Class Period to a Class Period high of $23-1/2 per share in early May 1996.

This enabled eight of IMP's insiders to sell 1,196,200 shares of their IMP stock at artificially inflated prices as high as $22.31 per share between May 3, 1996 and May 24, 1996, pocketing over $23.7 million for themselves -- with most of IMP's insiders selling large portions of their holdings of IMP stock, immediately after exercising stock options to acquire the shares at just $.81-$2.25 per share -- thus obtaining large, risk-free profits from insider trading.

However, shortly after IMP's insiders had completed their stock sales, it was exposed that poor sales of IMP's products, due to weak demand, would result in IMP suffering declining revenues and earnings, requiring the Company to restructure and fire over 10% of its employees, causing its stock to collapse back below $7 per share.

Plaintiffs who have sued seek to recover damages on behalf of all purchasers of IMP common stock during the Class Period (the "Class"). They are represented by several law firms, including Milberg Weiss Bershad Hynes & Lerach LLP, who have expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Milberg Weiss has been actively engaged in commercial litigation, emphasizing securities and antitrust class actions, for more than 20 years. The firm has offices in New York, San Diego, San Francisco and Los Angeles and is active in major litigations pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to major positions in complex multi-district or consolidated litigations. Milberg Weiss has taken a lead role in numerous important actions on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total approximately $2 billion.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffs' counsel, William Lerach of Milberg Weiss at 800/348-6192.

CONTACT: Milberg Weiss Bershad Hynes & Lerach LLP

William Lerach or Milberg Weiss, 800/348-6192