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Electronics Production | April 24, 2007

Kemet closes Evox Rifa deal today

Kemet Corporation has announced the final decisions from the Annual General Meeting of Evox Rifa Group Oyj held in Helsinki, Finland, on April 23, 2007.
As previously announced, Kemet Electronics Corporation, a wholly owned direct subsidiary of Kemet Corporation, has successfully completed its tender offer for all the shares and convertible capital loan notes in Evox Rifa.

Included in the decisions of the Annual General Meeting of Evox Rifa were the following actions: Per-Olof Loof, David E. Gable, Marc Kotelon, Kirk D. Shockley, and Michael W. Boone (all of whom are officers of KEMET Corporation) were elected as members of the Board of Directors of Evox Rifa; this Board will replace the previous Board of Directors of Evox Rifa. (At a subsequent meeting of the new Board of Directors of Evox Rifa, Mr. Loof was elected as the Chairman of the Board of Directors.)

The Financial Statements of Evox Rifa for the fiscal year ending December 31, 2006 were adopted. In accordance with a proposal from its Board of Directors, it was decided that no dividend will be paid for the fiscal year of Evox Rifa ending December 31, 2006.

“The actions taken at the Evox Rifa Annual General Meeting in Helsinki, together with the final settlement of our purchase of a majority ownership position in Evox Rifa, mark a key milestone in this transaction," said Per Loof, KEMET's Chief Executive Officer. “We look forward to the integration of the KEMET and Evox Rifa businesses as we move another step closer to becoming The Capacitance Company."

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