ASE Test to Acquire 70% Of ISE Labs

ASE Test and ISE Labs jointly announced today the signing of a definitive stock purchase agreement under which ASE Test will purchase 70% of the outstanding shares of ISE Labs. The transaction is subject to the satisfaction of Hart-Scott-Rodino clearance and certain other conditions to closing and is expected to be consummated by the end of April 1999.

The agreement provides that ASE Test will purchase 12,250,000 of the outstanding shares of ISE Labs for $8.00 per share in cash. The total value of the transaction is $98 million.

ASE Test Ltd. is an independent integrated circuit testing company. ISE Labs, Inc. is a California-based independent integrated circuit testing and evaluation company.