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our position in the general illumination market

ON Semiconductor plans to continue and expand upon the structural transformation initiated by SANYO Electric. SANYO Electric has agreed to support its original business transformation plan to restore led high bay Semiconductor's profitability. SANYO Electric has also agreed to support ON Semiconductor's future efforts to further improve SANYO Semiconductor's manufacturing and operations.

For ON Semiconductor's second fiscal quarter ended July 2, 2010, the company expects that both revenues and earnings will be in line with the guidance provided in the company's first fiscal quarter 2010 earnings release which was announced on May 5, 2010. Further details of the company's second quarter 2010 results will be made available on our regularly scheduled conference call on August 4, 2010.

GCA Savvian Advisors, LLC acted as exclusive financial advisor and Morrison & Foerster LLP acted as legal counsel to ON Semiconductor. Nikko Cordial Securities Inc. acted as exclusive financial advisor and Nagashima Ohno & Tsunematsu acted as legal counsel to SANYO Electric.

Dr. Jurgen Yeh, Chief Technology Officer, commented, "Neo-Neon plans to expand our LED wafer output seven-fold over the next three years. We have decided to include led high bay light system in our plans due to its proven high productivity as well as the recent uniformity and repeatability advances that Veeco has achieved. We intend to move quickly to expand our position in the general illumination market, and require supplier partners that can keep pace with our plans." To fund its expansion, Neo-Neon has recently raised NT$2.06 billion (U.S. $64 million) through a share issuance in Taiwan.
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