Qimonda Portugal to emerge from insolvency by end of 2009

The restructuring of the chip manufacturer is almost finished and some important decisions and solutions have been made: • New shareholder structure: 18% will be owned by the Portuguese State (represented by investment organization AICEP), 41% each will be owned by the two biggest Portuguese private banks, Banco Espírito Santo, S.A. (BES) and Banco Comercial Portugues, S.A. (BCP) • The new company governance will have a Supervisory Board of 5 members (one representing the Portuguese State, two each from BES and BCP) and will retain the current Management Board • A new and revised business plan was approved • Workforce adjustment have already been completed “The product portfolio will be much wider, and the number of different customers will increase. First projects with new customers and co-operation partners have been started”, a company statement reads.