Taoyuan, Taiwan (R.O.C.) October 11th, 2016 - Inotera's (TWSE: 3474) Board of Directors today approved the extension of the Outside Date of the Share Swap Agreement from November 30th, 2016 to December 31st, 2016 and determined the share swap record date to be December 6th, 2016 to conduct a share swap transaction (the 'Transaction') with Micron Semiconductor Taiwan Co. Ltd. ('MST'), under which MST will acquire all of the issued and outstanding common shares of the Company for NT$30 per share in cash. After the closing of the Transaction, Inotera will become a wholly owned subsidiary of Micron Technology, Inc. and will be delisted from the Taiwan Stock Exchange on the share swap record date.

MST and Inotera signed a syndicated loan agreement of NT$80BN with a group of banks today. As a result, MST and the Company believe the conditions precedent to the Transaction are expected to be satisfied as of the share swap record date, and both parties are confident that the Transaction will be completed as scheduled. A delisting application will be filed with the Taiwan Stock Exchange Corporation in accordance with relevant laws and regulations. The schedule of the Transaction process is as follows:

a. Last trading day: November 29th, 2016
b. Trading suspension day: November 30th, 2016
c. Last day before book closure: December 1st, 2016
d. Book closure period: December 2nd, 2016 to December 6th, 2016
e. Share swap record date: December 6th, 2016

About Inotera
Inotera Memories, Inc. was incorporated on January 23, 2003. Inotera's production facilities are designed to manufacture high-density and high-performance DRAM（Dynamic Random Access Memory）products using state-of-the-art technology. The combination of world-leading technology transferred from its technology partner and local cost-efficiency in mass production has resulted in an innovative company that is highly productive, highly competitive and at the leading edge in the DRAM industry. For more information, please
visit Inotera's IR Website：http://ir.inotera.com

Spokesperson Rod Morgan, President
Press Contact Ivy Hung, IR / PR Department
Tel. 03-327-2988 Ext. 3371 E-mail：ivyhung@inotera.com

Inotera Memories Inc. published this content on 11 October 2016 and is solely responsible for the information contained herein.
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