Hong Kong Welcomes Three Silicon Valley Companies as Newest Science Park Tenants; AnalogicTech, Pericom and REnex Sign Tenancy Agreements in Historic Ceremony.

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--June 19, 2001

Three local technology companies -- Advanced Analogic Technologies, Inc. (AnalogicTech), Pericom Semiconductor Corporation (Pericom) and REnex Technology Limited (REnex) -- today sign tenancy agreements with Hong Kong Science and Technology Parks Corporation (HKSTP) in a historic ceremony held in Santa Clara, Calif.

The ceremony honors the technology and innovation partnership between the United States and Hong Kong, symbolized by the new state-of-the-art Science Park operated by HKSTP. Sponsors of the event are the Hong Kong Economic and Trade Office in San Francisco, California Office of Trade and Investment, HongKong-SV.com and the Hong Kong Association of Northern California.

Under the agreement with HKSTP, Pericom will take up 12,600 square feet of office space, whereas REnex's and AnalogicTech's requirements are 4,300 square feet and 14,400 square feet respectively. Taking into account these three new tenancies, there are now 10 committed tenants to date with a combined leasing of 339,000 square feet out of a total floor area of 1 million square feet available under Phase One of the Park. In addition, there are 18 other applications for admission currently being processed, indicating that the demand for space at the Park has continued to be brisk. In response to this strong demand, development of Phase Two will begin in the second half of this year.

Explaining why Hong Kong should be a natural choice for U.S. technology companies to establish their presence in Greater China, Mr. Victor Lo, chairman of HKSTP, said, "We are a dynamic and competitive international city where business enjoys easy access to a full spectrum of services and infrastructure. Our innovation and technology industry operates under a well-established legal framework, with intellectual property rights protected by effective laws. And culturally, I feel comfortable in claiming that we are the definitive example of 'east meets west.' This partnership could facilitate U.S. companies to diversify their markets into China, which potentially could be the greatest in Asia."

Mr. Lo further pointed out, "In Hong Kong, we have one of the strongest linkage industries in Asia, providing timely supplies and services and ensuring that innovators can quickly establish the financial and business relationships they need to thrive and grow."

Ms. Annie Tang of the Hong Kong Economic and Trade Office in San Francisco added, "The fact that the three Silicon Valley companies have chosen Hong Kong clearly demonstrates Hong Kong's commitment to high tech development and its receptiveness to high tech investment. I am pleased that our office has played a key role in the U.S. to help attract these companies to the HKSTP. My team of Invest Hong Kong officers and I myself stand ready to assist other U.S. companies that are interested in exploring opportunities of investing in Hong Kong."

"We made the decision to establish our operations headquarters in the Science Park to strengthen our presence in the important Asian region, to locate our operations closer to our customers and to our manufacturing partners, and to enhance our work here in the Bay Area," said Mr. Richard K. Williams, CEO and CTO of AnalogicTech.

Mr. Alex Hui, CEO of Pericom, said, "We believe that the facilities and support offered by the Science Park can enhance the capabilities of our Hong Kong Technology Centre. Our Hong Kong Technology Centre will have a strong design team to support Pericom's product development and will also play a major role in supporting our Asia marketing effort and system applications. The facility we will establish at the Park will strengthen our presence in the important region of Asia Pacific/Greater China. We look forward to forming a long-term partnership with Hong Kong Science and Technology Parks Corporation."

Mr. Robert I. Chen, CEO of REnex, said, "We see the Hong Kong Science and Technology Parks Corporation as an example of the resurgence of Hong Kong's prominence as the gateway to Asia. We are proud to be part of that resurgence."

The ceremony brings together HKSTP senior management with heads of the three signing companies, in addition to guests from leading Silicon Valley businesses and media from both Hong Kong and the United States.

Strategically located in Pak Shek Kok facing the Tolo Harbor, the Science Park under the auspices of HKSTP provides firms from Information Technology and Telecommunications, Electronics, Biotechnology and Precision Engineering sectors with high-tech facilities to form a solid tenancy base of these four technology clusters. The Park, designed in a campus-like environment, is located close to the Chinese University of Hong Kong, and within easy reach of the business districts of Kowloon and Hong Kong Island. The surrounding infrastructure affords easy links to the railway, highway and airport, thus making the Park an ideal location for those businesses focusing on Greater China or the Asian region as a whole.

The first batch of tenants for Phase One of the Science Park development project will be able to move into the first two buildings in early 2002. Besides the three signing companies, the other committed tenants of the Science Park now include ON Semiconductor, Kinetana Hong Kong Herbal Pharmaceuticals Ltd., Group Sense (International) Ltd., Scarborough (HK) Limited, Solomon Systech Limited, We Software Limited and VTech.

About Hong Kong Science and Technology Parks Corporation

Hong Kong Science and Technology Parks Corporation (HKSTP) was inaugurated on May 7, 2001, following a three-way merger among Hong Kong Industrial Technology Centre Corporation, the Provisional Hong Kong Science Park Company Limited and The Hong Kong Industrial Estates Corporation.

HKSTP's missions are to provide quality infrastructure and support facilities conducive to innovation and technology development and the upgrading of manufacturing and related service capabilities; to develop and operate technology-based incubation programmes as a nurturing ground for application-driven and market-oriented research and product development projects; and to foster partnership and collaboration between industry, academia/research institutes through joint training and research programmes to enhance productivity and competitiveness in Hong Kong industry. Further information is available on the corporation's web site at www.hkstp.org.

About Advanced Analogic Technologies, Inc.

Advanced Analogic Technologies, Inc. (AnalogicTech) designs, develops, manufactures, sells and distributes analog Total Power Management(TM) integrated circuits (TPM ICs(TM)), Application Specific Power MOSFETs (ASPMs(TM)), and proprietary TrenchDMOS(TM) advanced discrete power transistors, offering Total Power Management solutions to its customers in the large and rapidly growing computer, communication and portable consumer electronic market sectors. With headquarters in Sunnyvale, Calif. and operations based in Hong Kong, AnalogicTech is a global supplier for cell phone, LiIon battery, computer and consumer Total Power Management products and solutions. Further information is available on the company's web site at www.analogictech.com.

About Pericom Semiconductor Corporation

Pericom Semiconductor Corporation (NASDAQ: PSEM) designs, develops, and markets high-performance interface integrated circuits (ICs) for the transfer, routing, and timing of high-speed digital and analog signals within and between computer, networking, and multimedia systems. The company's high-performance interface ICs are essential for the full utilization of the speed and bandwidth built in today's advanced microprocessors, memory ICs, LANs, and WANs. The company offers more than 650 products in its SiliconInterface, SiliconSwitch, SiliconClock, and SiliconConnect families, providing customers a wide array of interface IC solutions. Company headquarters are located in San Jose, Calif., and its products are distributed worldwide. Further information is available on the company's web site at www.pericom.com.

About REnex Technology Limited

REnex was founded in 2000 with the key mission of developing advanced wireless technology for industrial applications. REnex believes that wireless deployment in the industrial world will be the next major wave in wireless applications. Products under development include a family of high-performance wireless modems and gateways based on spread spectrum technology. An example of application is, in an oil refinery, sensors are mounted at strategic locations to monitor critical parameters such as oil pressure, leakage, and flow rate. The information is then relayed wirelessly, using REnex's products, to a distant control room. It can further be distributed to other parts of the world via the Internet. REnex is a spin-off of RAE Systems Inc., a Sunnyvale, Calif., based private company specializing in gas detection sensors and instruments.