Hynix - ProMOS Sign Amendment to Strengthen Long-term Strategic Alliance

SEOUL, May 8, 2008—Hynix Semiconductor Inc. (‘Hynix’, ) and ProMOS Technologies Inc. (‘ProMOS’) today announced the signing of the Amendment to strengthen their existing strategic alliance.

According to the Amendment, Hynix licenses to ProMOS 50 nanometer-class DRAM stack process technology, while ProMOS offers to Hynix such DRAM products from its 300mm fab capacity. To achieve timely technology transfer, Hynix plans to commence the government filing process immediately.

Additionally, Hynix plans to cooperate with some financial investors to buy 8%-10% portion of shares in ProMOS through private placement to strengthen their long-term cooperation relationship.

About Hynix Semiconductor Inc.

Hynix Semiconductor Inc. (HSI) of Icheon, Korea, is the world’s top tier memory semiconductor supplier offering Dynamic Random Access Memory chips (“DRAMs”) and Flash memory chips to a wide range of established international customers. The Company’s shares are traded on the Korea Stock Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about Hynix is available at www.hynix.com.