Geneva, September 24, 2004 - STMicroelectronics (NYSE: STM) announced
that it has redeemed approximately $910 million nominal value of its Liquid
Yield Option Notes ("LYONs") due September 22, 2009 for approximately
$806 million in cash. Over 99% of the Company's outstanding LYONs were
surrendered by holders, pursuant to the terms and conditions of the LYONs,
during the prescribed period from August 24, 2004 through September 22,
2004. The Company intends to redeem for cash at their accreted value the
approximate $8 million nominal value LYONs still outstanding.
About STMicroelectronics
STMicroelectronics is a global leader in developing and delivering semiconductor
solutions across the spectrum of microelectronics applications. An unrivalled
combination of silicon and system expertise, manufacturing strength, Intellectual
Property (IP) portfolio and strategic partners positions the Company at
the forefront of System-on-Chip (SoC) technology and its products play
a key role in enabling today's convergence markets. The Company's shares
are traded on the New York Stock Exchange, on Euronext Paris and on the
Milan Stock Exchange. In 2003, the Company's net revenues were $7.24 billion
and net earnings were $253 million. Further information on ST can be found
at www.st.com.
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