In The News!

Nanochip Receives $20 Million
In New Funding and
Expands Board of Directors

Fremont, Calif. - March 8, 2004 - Nanochip, Inc., a MEMS-based storage company, today announced that it has secured $20 million in its Series B financing. JK&B Capital led this round, and was joined by leading institutional and corporate investors, including New Enterprise Associates, Microsoft and AKN Technology. MEMS (Micro-Electro-Mechanical Systems) are microscopic devices that are produced on semiconductor chips and are measured in micrometers.

Nanochip, Inc. is a storage company that is developing very high capacity removable storage chip products based upon the design of Micro-Electro-Mechanical Systems (MEMS). The Nanochip devices attain extremely high densities and capacity by writing, reading, and erasing data on the chip storage media at nanometer dimensions. The Nanochip multi-Gigabyte storage chips are designed to be used in a wide range of consumer electronic products, including web phones, digital cameras, MP3 players, mobile PCs, and related wireless and remote storage appliances. The Nanochip products will feature flash compatible interfaces in several industry standard multi-Gigabyte packages that are in use today for consumer electronic devices.

Nanochip's patented and proprietary technologies allow the production of high-capacity, nonvolatile memory chips and memory cards at a per Gigabyte cost substantially below other memory technologies in the silicon memory industry.

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