Magnum Semiconductor Completes Venture Financing Round

Supplier of Consumer Audio/Video Chips and Software Raises $27 Million to Fund Continued Expansion and Accelerate Transition to High Definition

May 24, 2007

Milpitas, Calif., May 24, 2007 -- Magnum Semiconductor today announced that the company has closed a round of venture funding totaling $27 Million. The financing round was led by Investor Growth Capital, and included new investments from WK Technology Fund, KTB Ventures, and Gold Hill Capital, as well as further participation from Magnum’s initial investors August Capital, and Investcorp Technology Partners.

Jack Guedj, president and CEO of Magnum Semiconductor, said, “Magnum sales are growing rapidly in Japan, Korea, Europe and China. We now have greater financial strength, allowing us to accelerate our R&D efforts in high-definition products, and to fund expanding operations in support of our revenue ramp.”

José Suarez, managing director of Investor Growth Capital, has joined the Board of Directors of Magnum Semiconductor. Suarez noted, “At Investor Growth Capital we look for companies with experienced management, as well as a strong customer base and product offering, which require additional capital to support revenue growth. With an increasing number of design wins among marquee consumer electronics OEM customers, Magnum fits these requirements.” Guedj commented, “The active participation of our first-round investors has helped us to build and expand our business. We now look forward to the added contributions of our new venture investors. We see the participation of these international investors as an endorsement of the strength and global nature of our business.”

About Magnum Semiconductor

Magnum Semiconductor is a premier provider of chips, software, reference platforms and engineering support services for recording, viewing and managing highquality audio/video content. Magnum Semiconductor is headquartered in Milpitas, Calif. with sales and engineering offices in Canada, China, India, Japan, Korea, and Taiwan. Further information is available at www.magnumsemi.com.

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