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SanDisk's logo. Click here to visit the SanDisk website! Toshiba, SanDisk finalise consolidation agreement!
(Friday, April 12, 2002 - 17:56 EDT)

FlashVision LLC moves from Virginia to Japan...

SanDisk Corp. has today announced that it has finalised an agreement with Toshiba Corp. for joint venture company FlashVision LLC to move from the USA to Japan. Created after an agreement signed in May 2000, FlashVision currently uses fabrication space at Dominion Semiconductor in Manassas, Virginia. The company provides equal quantities of NAND flash memory wafers to the two parent companies, which are then used in making flash products in various formats and using various brand-names.

In December of last year, the companies signed a Memorandum Of Understanding to move the plant to a Toshiba semiconductor plant in Yokkaichi, Japan, and today's announcement sees the fabrication move become reality. Production at the new facility is expected to begin in the third quarter of this year, with ramp-up complete by Q1 2003.

With Toshiba having been producing 0.16 micron flash already at the facility to supplement the two companies' production requirements, and the consolidation of all manufacture there, Toshiba and SanDisk expect accelerated production of their multi-level NAND chips in volume quantities. They are also hoping to reduce time to market for their 0.13 micron NAND flash and expecting increased capacity and reduced cost thanks to the consolidation.

Source: SanDisk Corp.

Original Source Press Release:


SUNNYVALE, CA, APRIL 12, 2002 - SanDisk Corporation (NASDAQ:SNDK) announced today that it has formally concluded the agreements with Toshiba Corporation related to the relocation of their joint FlashVision venture from the Dominion Semiconductor facility in Manassas, VA, to Toshiba's semiconductor plant at Yokkaichi, Japan. The two companies announced in December, 2001, that they had signed a binding Memorandum Of Understanding to consolidate their advanced NAND flash wafer fab manufacturing operations at Toshiba's memory fab at Yokkaichi.

Sanjay Mehrotra, SanDisk's chief operating officer and executive vice president, said, "We believe that with this manufacturing consolidation, the two companies can achieve a more competitive cost per wafer, begin to increase production capacity and accelerate the time to market for volume production of our next generation 0.13 micron NAND flash. The relocation of our FlashVision venture to Yokkaichi underscores the strong partnership that exists between Toshiba and SanDisk."

He added, "Both Toshiba and SanDisk plan to use the increased output from the Yokkaichi fab to meet increasing demand."

Both companies expect to start production at FlashVision Japan in the third quarter, 2002. Production ramp up is expected to be completed by the first quarter of 2003. Toshiba has already been manufacturing 0.16 micron NAND flash wafers at the Yokkaichi facility for supporting SanDisk and Toshiba production requirements during FlashVision's period of transfer from Dominion to Yokkaichi and subsequent production ramp up of FlashVision Japan. The consolidation of manufacturing at Yokkaichi, Japan is expected to streamline the transfer of new technologies and thereby accelerate the volume production of highly cost competitive NAND/MLC (multi-level cell) as well as the 0.13 micron NAND flash memory technologies.

SanDisk, the world's largest supplier of flash data storage products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, CA.

The matters discussed in this news release contain forward looking statements that are subject to certain risks and uncertainties as described under the caption, "Factors That May Affect Future Results" in the company's annual report on Form 10-K and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission. The companies assume no obligation to update the information in this release.

SanDisk's web site/home page address: http://www.sandisk.com
All trade names are either registered trademarks or trademarks of their respective holders.

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