Hynix Semiconductor and Selling Shareholders in $747 Million GDR Offering

June 29, 2006

Cleary Gottlieb represented Korea Exchange Bank, as representative of the selling shareholders, and Hynix Semiconductor Inc. in a $747 million Rule 144A/Reg S offering of Hynix Semiconductor’s global depositary shares. The GDSs are listed on the Euro MTF market of the Luxembourg Stock Exchange. Merrill Lynch & Co., Credit Suisse, Deutsche Bank and Woori Investment & Securities acted as joint bookrunners.

Hynix Semiconductor is the world’s third largest provider of DRAM and NAND flash memory in terms of revenue.