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MICRON TECHNOLOGY INC. ANNOUNCES SETTLEMENT OF SHAREHOLDER LAWSUIT

 BOISE, Idaho, Feb. 26 /PRNewswire/ -- Micron Technology Inc. (NYSE: MU) today announced that it has reached a tentative agreement to settle the shareholders' class action lawsuit against the company and certain of its past and present officers and directors pending in the U.S. District Court for the District of Idaho. Under the terms of the agreement, the company has agreed to pay $6.0 million into a settlement fund on behalf of the plaintiff class.
 The settlement is subject to the execution of a definitive settlement agreement and must be approved by the court. The settlement does not constitute an admission by the company of liability or wrongdoing on its part, or on the part of any of its past and present officers and directors.
 The company also has filed a lawsuit against American Casualty Co. of Reading, Penn., which issued a directors and officers liability insurance policy to the company. The suit seeks reimbursement for the amount of the shareholders' suit settlement, plus attorneys' fees and costs incurred in defending that action.
 As a result of these events, the company anticipates incurring a $3.0 million pre-tax charge against results of operations for its second fiscal quarter ending March 4, 1993.
 Micron Technology Inc., based in Boise, is a holding company whose common stock is traded on the New York Stock Exchange Inc. (NYSE) under the symbol MU. The company's primary subsidiary, Micron Semiconductor Inc., manufactures and markets DRAMs, fast SRAMs and other semiconductor products.
 -0- 2/26/93
 /CONTACT: Kipp Bedard of Micron Semiconductor Inc., 208-368-4400/
 (MU)


CO: Micron Technology Inc. ST: Idaho IN: CPR SU:

LM -- SE009 -- 1049 02/26/93 17:51 EST
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Publication:PR Newswire
Date:Feb 26, 1993
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