Micron Increases Global Scale and Enhances Mobile Portfolio
     With Elpida's Technology, Micron Also to Acquire Rexchip
                       Shares From Powerchip

BOISE, Idaho and TOKYO, July 2, 2012 (GLOBE NEWSWIRE) -- Micron
Technology, Inc. (Nasdaq:MU) ("Micron") and Elpida Memory, Inc.'s
("Elpida") trustees announced today that the parties have signed a
definitive sponsor agreement for Micron to acquire and support Elpida.
The agreement has been entered into in connection with Elpida's
corporate reorganization proceedings conducted under the jurisdiction
of the Tokyo District Court.

Under the agreement, 200 billion Yen (approximately USD $2.5 billion
assuming 80 Yen/USD) total consideration, less certain reorganization
proceeding expenses, will be used to satisfy the reorganization claims
of Elpida's secured and unsecured creditors. Micron will acquire 100
percent of the equity of Elpida for 60 billion Yen (approximately USD
$750 million) to be paid in cash at closing. In addition, 140 billion
Yen (approximately USD $1.75 billion) in future annual installment
payments through 2019 will be paid from cash flow generated from
Micron's payment for foundry services provided by Elpida, as a Micron
subsidiary. As a result of these payments, all pre-petition debt
obligations of Elpida will be fully discharged under the corporate
reorganization proceedings. The agreement also calls for Micron to
provide certain financing support for Elpida capital expenditures,
subject to specified conditions, and to maintain Elpida's operations
and employees.

In a related transaction, Micron also announced today a separate
agreement with Powerchip Technology Corporation, a Taiwanese
corporation, and certain of its affiliates to acquire the Powerchip
group's 24 percent share of Rexchip Electronics Corporation for
approximately 10 billion NTD (approximately USD $334 million assuming
30 NTD/USD).

Elpida's assets include a 300 millimeter (mm) DRAM fabrication facility
located in Hiroshima, Japan; an approximate 65 percent ownership
interest in Rexchip, whose assets include a 300mm DRAM fabrication
facility located in Taiwan; and an assembly and test facility located
in Akita, Japan. Together with the Rexchip shares acquired from
Powerchip, Micron will control approximately 89 percent of Rexchip's
outstanding shares. The fab assets of Elpida and Rexchip together can
produce more than 200,000 300mm wafers per month, which would represent
an approximate 50 percent increase in Micron's current manufacturing
capacity.

Using its advanced technologies, Elpida has built a strong presence in
Mobile DRAM, targeting mobile phones and tablets. Micron is a leader in
delivering enterprise DRAM solutions for networking and servers as well
as offering a wide product portfolio in NAND and NOR. Combining the two
complementary product portfolios will further strengthen Micron's
position in the memory market and enable it to provide customers with
an even more complete set of high-quality solutions.

"We are creating the industry-leading pure-play memory company," said
Micron CEO Mark Durcan. "Today's transactions will help strengthen the
combined companies' market position in the memory industry through
increased research and development and manufacturing scale; improved
access to core memory market segments; and additional wafer capacity to
balance among DRAM, NAND and NOR memory solutions for the ultimate
benefit of Micron and Elpida customers."

"Micron's sponsorship of Elpida will enable stable payment of creditor
claims and help to streamline approval of the reorganization plan by
the creditors and the Tokyo District Court. Joining with Micron also
delivers a clear advantage for Elpida's customers, suppliers and
employees," said Yukio Sakamoto, co-trustee of Elpida. "The transaction
is a strong testament to the value of Elpida's technologies, products
and people, and it will result in a combined organization that can best
serve customers with broader memory solutions, strength and scale."

The transactions are subject to certain conditions, including approval
by Elpida creditors, the Tokyo District Court, and other customary
antitrust approvals. Elpida's reorganization plan is currently
anticipated to be submitted to the Tokyo District Court for approval in
August 2012. The transactions are expected to close in the first half
of calendar 2013. Micron's purchase of the Powerchip group's Rexchip
shares will occur upon close of the Elpida transaction.

Elpida filed a petition for commencement of Corporate Reorganization
Proceedings with the Tokyo District Court under the Corporate
Reorganization Act of Japan on Feb. 27, 2012.

Conference Call Details

Micron will host a conference call today at 6:00 a.m. MDT to discuss
the transaction. The call, audio and slides will be available online at
http://investors.micron.com/events.cfm. A webcast replay will be
available on the company's web site until July 9, 2013. Information
regarding the taped audio replay of the conference call will also be
available on www.micron.com beginning at 9:00 a.m. MDT.

About Elpida

Elpida Memory, Inc. is a leading manufacturer of Dynamic Random Access
Memory (DRAM) integrated circuits. The company's design, manufacturing
and sales operations are backed by world class technological expertise.
Its 300mm manufacturing facilities, consisting of its Hiroshima Plant
and a Taiwan-based joint venture, Rexchip Electronics, utilize the most
advanced manufacturing technologies available. Elpida's portfolio
features such characteristics as high-density, high-speed, low power
and small packaging profiles. The company provides DRAM solutions
across a wide range of applications, including personal computers,
servers, mobile devices and digital consumer electronics. More
information can be found at http://www.elpida.com.

The Elpida Memory, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=13529

About Micron

Micron Technology, Inc., is one of the world's leading providers of
advanced semiconductor solutions. Through its worldwide operations,
Micron manufactures and markets a full range of DRAM, NAND and NOR
flash memory, as well as other innovative memory technologies,
packaging solutions and semiconductor systems for use in leading-edge
computing, consumer, networking, embedded and mobile products. Micron's
common stock is traded on the NASDAQ under the MU symbol. To learn more
about Micron Technology, Inc., visit www.micron.com.

The Micron Technology, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6950

Micron and the Micron orbit logo are trademarks of Micron Technology,
Inc. All other trademarks are the property of their respective owners.

This press release contains forward-looking statements regarding future
events that involve risks and uncertainties. For example, statements
related to the strategic rationale for and expected benefits from the
transactions, the financial and operational performance of the combined
business, the expected scale and synergies to be realized, the customer
base, product offerings and position of the combined business in the
memory industry, and the expected timing of key milestones, are all
forward-looking statements. Various factors could cause actual events
or results to differ materially from those anticipated by the
forward-looking statements. These factors include the possibility that
the transactions do not close when expected or at all, or that we may
be required to modify aspects of the transactions to achieve regulatory
approval; that we are unable to successfully hedge against foreign
currency rate fluctuations associated with transaction payments, or
that such fluctuations adversely impact our consolidated results of
operations; that we are unable to maintain customers, successfully
execute our integration strategies, or achieve planned synergies; that
we are unable to accurately forecast the anticipated financial results
of the combined business; that our consolidated financial condition may
be adversely impacted by the increased leverage resulting from the
transactions; that future payment obligations arising out of the
transactions will not be met; that the combined business is unable to
compete successfully in the highly competitive and rapidly changing
memory market; that we are unable to retain employees that are key to
the operations of the combined business; that we are unable to identify
and realize future consolidation and growth opportunities; and other
factors that are disclosed in our most recent Form 10-K and Form 10-Q
including in the Risk Factors section under the headings "Debt
obligations could adversely affect our financial condition" and "We may
make future acquisitions and/or alliances, which involve numerous
risks." These documents contain and identify important factors that
could cause the actual results for Micron on a consolidated basis to
differ materially from those contained in our forward-looking
statements. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future
results, levels of activity, performance or achievements.


CONTACT: Kipp Bedard
         Micron Investor Relations
         kbedard@micron.com
         (208) 368-4465
         
         Daniel Francisco
         Micron Media Relations
         dfrancisco@micron.com
         (208) 368-5584
         
         Yukio Sakamoto, Elpida Trustee
         Nobuaki Kobayashi, Elpida Trustee, Attorney-at-Law
         Takao Adachi, Director and Executive Officer
         Elpida Public Relations
         +81-3-3281-1500