SST invests in Grace

March 8, 2004 – Flash memory developer Silicon Storage Technology (SST), Sunnyvale, CA, said it contributed $33 million to the recent Series B round of financing in Grace Semiconductor Manufacturing Corp., the holding company for foundry Shanghai Grace Semiconductor.

Proceeds will be used for capacity expansion and extension into leading edge technologies; currently Grace is set up to support 0.13-micron technology.

Grace currently produces SST’s 0.25-micron SuperFlash technology, and is scheduled to start mass production of 0.18-micron in 2H04. SST contributed $50 million in Grace’s Series A round of funding in March 2001.

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