-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 NDpE/hFYomgvLmQcgPRHTh4jCH3GHzB0RcT9/3aOuH98qqQFDWN5Corj3OreLhQo
 bI7oid05zpoJXBPWhMd7iw==

<SEC-DOCUMENT>0001104659-08-000617.txt : 20080104
<SEC-HEADER>0001104659-08-000617.hdr.sgml : 20080104
<ACCEPTANCE-DATETIME>20080104123206
ACCESSION NUMBER:		0001104659-08-000617
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20071231
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080104
DATE AS OF CHANGE:		20080104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NETLIST INC
		CENTRAL INDEX KEY:			0001282631
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				954812784
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33170
		FILM NUMBER:		08510186

	MAIL ADDRESS:	
		STREET 1:		475 GODDARD
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92618
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a08-1288_18k.htm
<DESCRIPTION>8-K
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<div style="border:none;border-top:double windowtext 6.0pt;padding:0in 0in 0in 0in;">

<p style="border:none;font-weight:bold;margin:0in 0in .0001pt;padding:0in;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

</div>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</font></b><font size="2" style="font-size:10.0pt;"><br>
</font><font size="2" style="font-size:10.0pt;">Washington, D.C. 20549</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<div style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="1" width="25%" noshade color="black" align="center">

</font></b></div>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">Form&nbsp;8-K</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">CURRENT REPORT</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">Pursuant to Section&nbsp;13
or 15(d)&nbsp;of The Securities Exchange Act of 1934</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report
(Date of earliest event reported):&#160; <b>December&nbsp;31, 2007</b></font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">Netlist,&nbsp;Inc.</font></b></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in its charter)</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="32%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">001-33170</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">95-4812784</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other jurisdiction<br>
  of incorporation)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="32%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission<br>
  File Number)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer<br>
  Identification No.)</font></p>
  </td>
 </tr>
 <tr>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="32%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">51 Discovery, Irvine, California</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">92618</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="239" style="border:none;"></td>
  <td width="15" style="border:none;"></td>
  <td width="112" style="border:none;"></td>
  <td width="15" style="border:none;"></td>
  <td width="112" style="border:none;"></td>
  <td width="15" style="border:none;"></td>
  <td width="239" style="border:none;"></td>
 </tr>
</table>

</div>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s telephone number, including area code:&#160; <b>(949) 435-0025</b></font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160; Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160; Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160; Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160; Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>

<div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">

<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\mguiheea\08-1288-1\task2602696\1288-1-ba.htm',USER='mguiheea',CD='Jan  4 11:25 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 5.02.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:24.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nita
Moritz, Vice President and Chief Financial Officer, left the Company&#146;s employ
on December&nbsp;31, 2007.&#160; Ms.&nbsp;Moritz
will receive severance in accordance with the August&nbsp;16, 2007 offer letter
that was previously submitted as an exhibit to the Company&#146;s September&nbsp;18,
2007 Form&nbsp;8-K.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On
January&nbsp;4, 2008, the Company issued a press release announcing the&#160; appointment of Gail Itow as the Company&#146;s
Vice President and Chief Financial Officer, effective January&nbsp;1, 2008. Since
January&nbsp;2006, Ms.&nbsp;Itow, age 51, has served as Vice President of
Finance for the Company; she has also served as Secretary of the Company since August&nbsp;14,
2007.&#160; Prior to that,&#160; she served as Chief Financial Officer of
eMaiMai,&nbsp;Inc., a commercial technology company based in Hong Kong and
Mainland China.&#160; Prior to EmaiMai, Itow
was Senior Vice President of Finance, Secretary and Treasurer of eMotion,&nbsp;Inc.,
formerly Cinebase Software, a Vienna, VA-based developer of business-to-business
media management software and services. Itow was also Chief Financial Officer
of MicroNet Technology,&nbsp;Inc., an Irvine-based leader in storage
technology. Itow was also Audit Manager for Ernst and Young (formerly known as
Arthur Young) in Century City, CA.&#160; She
earned a Bachelor&#146;s degree from the University of California, Los Angeles,
where she graduated Magna cum Laude and was a Chancellor&#146;s Marshall.&#160; She also earned a Master of Business
Administration degree from the University of Southern California. The press
release is attached hereto as Exhibit&nbsp;99.1 to this Current Report on Form&nbsp;8-K
and is incorporated herein in its entirety.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:24.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ms.&nbsp;Itow
will receive an annualized base salary of $170,000. She will also immediately
receive a promotion bonus of $15,000.00, and will become eligible for a $15,000.00
retention bonus on December&nbsp;5, 2008. She is eligible for a 2008 target
bonus under an MBO Plan of up to $55,000 subject to the achievement of specific
objectives. These objectives and the other terms of that MBO Plan have not yet
been determined. In subsequent years, she will be eligible for a target bonus
of 50% of her then base salary.&#160; The Company
will grant to her an option, dated January&nbsp;4, 2008, to purchase up to 100,000
shares of its common stock at a per-share exercise price equal to the fair
market value of a share of such stock on the grant date. Subject to her
continued employment, that option will vest over four years in 16 equal quarterly
installments.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9.01.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial Statements and Exhibits</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">d)&#160; Exhibits</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="6%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:6.78%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit<br>
  Number</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.12%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="92%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:92.1%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:6.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:92.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0in .7pt 0in .7pt;width:92.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press
  Release, dated January&nbsp;4, 2008.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\mguiheea\08-1288-1\task2602696\1288-1-ba.htm',USER='mguiheea',CD='Jan  4 11:25 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:24.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:
  December&nbsp;31, 2007</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NETLIST,
  INC.</font><font size="2" style="font-size:10.0pt;">  </font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/&nbsp;&nbsp;&nbsp;Chun
  Ki Hong</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chun
  Ki Hong</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chairman,
  CEO and President</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

<p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\mguiheea\08-1288-1\task2602696\1288-1-ba.htm',USER='mguiheea',CD='Jan  4 11:25 2008' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a08-1288_1ex99d1.htm
<DESCRIPTION>EX-99.1
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 99.1</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><img width="226" height="137" src="g12881mmi001.jpg"></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">NEWS
RELEASE for January&nbsp;4, 2008 at 6:00 AM EST</font></u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contact:</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in .7pt 0in .7pt;width:25.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Allen&nbsp;&amp;
  Caron Inc.</font></p>
  </td>
  <td width="29%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:29.54%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" style="padding:0in .7pt 0in .7pt;width:36.7%;">
  <p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Netlist Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in .7pt 0in .7pt;width:25.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jill
  Bertotti (investors)</font></p>
  </td>
  <td width="29%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:29.54%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" style="padding:0in .7pt 0in .7pt;width:36.7%;">
  <p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chuck Hong</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in .7pt 0in .7pt;width:25.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jill@allencaron.com</font></p>
  </td>
  <td width="29%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:29.54%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" style="padding:0in .7pt 0in .7pt;width:36.7%;">
  <p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Executive Officer</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in .7pt 0in .7pt;width:25.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Len
  Hall (media)</font></p>
  </td>
  <td width="29%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:29.54%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" style="padding:0in .7pt 0in .7pt;width:36.7%;">
  <p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(949) 435-0025</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in .7pt 0in .7pt;width:25.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">len@allencaron.com</font></p>
  </td>
  <td width="29%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:29.54%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" style="padding:0in .7pt 0in .7pt;width:36.7%;">
  <p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in .7pt 0in .7pt;width:25.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(949)
  474-4300</font></p>
  </td>
  <td width="29%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:29.54%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" style="padding:0in .7pt 0in .7pt;width:36.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h4 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">NETLIST PROMOTES GAIL ITOW
TO CHIEF FINANCIAL OFFICER</font></b></h4>

<h4 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h4>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IRVINE, CA (January&nbsp;4, 2008)
.. . . Netlist,&nbsp;Inc. (NASDAQ: NLST) today announced that Vice President of
Finance Gail Itow has been promoted to Chief Financial Officer effective January&nbsp;1.
&#160;An experienced senior financial
executive with an extensive international background, Itow reports to Chief
Executive Officer Chuck Hong and replaces former Chief Financial Officer Nita
Moritz, who has left the Company.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Itow, 51, a resident of Tustin, CA, joined Netlist in January&nbsp;2006
as Vice President of Finance and was responsible for management of all
accounting functions, including internal and external reporting, Sarbanes-Oxley
compliance, financial forecasting, corporate governance, bank relations, and
treasury. &#160;She was involved in the
Company&#146;s November&nbsp;2006 initial public offering that raised approximately
$40 million and in 2007 was involved in investing a portion of those proceeds
in the new manufacturing facility in Suzhou, China. &#160;Itow also negotiated the Company&#146;s $40 million
line of credit with Wells Fargo Bank and assisted with managing the Company&#146;s Human
Resources, Information Technology and Law departments/functions.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hong stated: &#147;We are pleased
to promote Gail to this position and welcome her to our executive management
team. &#160;With her background in the
technology industry both domestically and internationally, past experience with
corporate financial transactions, capabilities in managing multiple functions
in addition to finance, and direct in-house experience for the past two years,
Gail will be making valuable contributions to achieving our near- and long-term
operational and financial plans as we enter 2008.&#148;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Itow&#146;s prior professional background and experience include responsibilities
as Chief Financial Officer of eMaiMai,&nbsp;Inc., a commercial technology
company based in Hong Kong and Mainland China. &#160;She worked closely with the board of directors
and principal investors during the company&#146;s start-up and a private placement
with Lehman Brothers Hong Kong. &#160;Itow
also managed eMaiMai&#146;s worldwide Human Resources, Accounting and technical
teams.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\cjensena\08-1288-1\task2602508\1288-1-mm.htm',USER='cjensena',CD='Jan  4 09:51 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prior to eMaiMai, Itow was Senior Vice President of Finance, Secretary
and Treasurer of eMotion,&nbsp;Inc., formerly Cinebase Software, a Vienna,
VA-based developer of business-to-business media management software and
services.&#160; While at eMotion, she managed
and negotiated several public and private financings, acquisitions and the
company&#146;s eventual merger with a wholly owned subsidiary of Eastman Kodak.&#160; In addition to responsibilities in Finance,
Itow managed all aspects of Human Resources, corporate Information Technology
and Accounting.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Itow was also Chief Financial Officer of MicroNet Technology,&nbsp;Inc.,
an Irvine-based leader in storage technology. &#160;While at MicroNet, she facilitated the company&#146;s
sales growth and expansion in the U.S., Japan and Europe. &#160;She also managed MicroNet&#146;s worldwide Human Resources,
Operations, corporate Information Technology and Accounting functions.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Itow was also Audit Manager
for Ernst and Young (formerly known as Arthur Young) in Century City, CA. &#160;She earned a Bachelor&#146;s degree from the University
of California, Los Angeles, where she graduated Magna cum Laude and was a Chancellor&#146;s
Marshall. &#160;She earned a Master of
Business Administration degree from the University of Southern California.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">About
Netlist,&nbsp;Inc.</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Netlist designs and
manufactures high-performance memory subsystems for the server and high-
performance computing and communications markets.&#160; The Company&#146;s memory subsystems are developed
for applications in which high-speed, high-capacity memory, functionality,
small form factor, and heat dissipation are key requirements.&#160; These applications include tower-servers, rack-mounted
servers, blade servers, high-performance computing clusters, engineering
workstations, and telecommunication equipment.&#160;
Netlist maintains its headquarters in Irvine, California with
manufacturing facilities in Irvine and in Suzhou, China.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Safe
Harbor Statement</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">This news
release contains forward-looking statements regarding future events and the
future performance of Netlist, including future opportunities and growth for
the company&#146;s business. These forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially from those
expected or projected. These risks and uncertainties include, but are not
limited to, the rapidly-changing nature of technology; volatility in the
pricing of DRAM ICs;</font></i><font size="2" style="font-size:10.0pt;">  </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">uncertainty of customer demand, including delays in expected
qualifications; introductions of new products by competitors; changes in
end-user demand for technology solutions; the Company&#146;s ability to attract and
retain skilled personnel; the Company&#146;s reliance on suppliers of critical
components; evolving industry standards; and the political and regulatory
environment in the People&#146;s Republic of China. Other risks and uncertainties
are described in the Company&#146;s annual report on Form&nbsp;10-K, dated February&nbsp;28,
2007, quarterly report on Form&nbsp;10-Q dated November&nbsp;6, 2007, and
subsequent filings with the U.S. Securities and Exchange Commission made by the
Company from time to time.&#160; Netlist
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.</font></i></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"># # # #</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\cjensena\08-1288-1\task2602508\1288-1-mm.htm',USER='cjensena',CD='Jan  4 09:51 2008' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g12881mmi001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g12881mmi001.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!#`0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P``1"`")`.(#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#V6BBB@`HH
MHH`****`"BBB@`HHHH`**I:OJ`TK2[B^:,R"!"Y4'!..U<:/BI;_`/0+E_[^
MC_"IE.,=S>EAZE76"N=_17+>'?'-IK]ZUH8FM9<;D#L"']0.!S74<]C3335T
M9U*<Z;Y9JS%HK!\5^(F\.Z5]I2+S99'\N,'[H;!.3[``UQVG?$_4(W<:E;13
MJ1\ODCRR#^.<BIE.,79F]+"5:L.>"T/3Z*XK2_B-#JFJ6UBNGR1F=]FXR`X]
M^E=F"3UJHR4MC&K2G2=IJPZBBBF9A1110`4444`%%%%`!1110`4444`%%%%`
M!1110`4444`%%%%`!1110!C>+_\`D5-1_P"N#5P7@3PYINO17AOXFD,+($VR
M,N,[L]#[5WOB_P#Y%34?^N#5RWPJ_P!3J7^]'_[-6,M:B/2H3E#"3<79W1B^
M*O#DOA?48-1TQI%M]P96Y/E.,8R>X/;/T]*[GPCXDBU_3LL0MY"`)T`P/9A[
M']*KPZO9ZUJ&J^'=1*A@Y6,`[3(F`>#_`'@?Z5P[Q7W@3Q.KH&,`;Y2>%GB)
MY&>F<`?0@=J3]QW6QI9XBG[.?QI:>:/2O$>FZ?JNCO%J+^7"G[P2[MOED#[W
MZUQ/AOPQX8U.XFB_M-M0=>D>UH,#U`SDUO>)E;Q1X-6XTI]ZY68J3@D#.5/O
M[>HKB?!&GW=[XCMYK?B.U822OG&%.1C\>E$FG-:"P\)+#S]_EMT_KN6+*SAL
M/B3!9VZE8H;O:@)S@;:]=`YKRD_\E77C'^FC'_?->K#O3I;,RQ[<G!O^5#J*
M**V//"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@#&
M\7_\BGJ7_7!JY;X5?ZG4?]Z/_P!FKJ?%_P#R*>I?]<&KE/A5]W4O8Q?^SUC+
M^(CT:7^YS]4<SXGGDLO&U]<6[>7)%<!U8=C@5V:M;>/_``J4+(-0MQT^[LDQ
MQ_P$X/\`^L5RVK62:G\1;BS<D+/<;"5ZC*CFJ]K/>^"?$Y23)"-B15'$L9[C
M\!Q[C%9WLW?9G?.FJE./)I-)-$FA:U<^%[Z[TZ]1A"Y:.:,<['QC</TSZCZ"
MMGX5*?M.IGL(XQ^K5=\6Z%!XCTJ'7M(56E*;V_A,B8/4?WA_B/2JGPK_`-;J
MG^[%_-J<4U-(SJU(5,-.:TEI?U*EQ_R5M?\`KZ7_`-`KU->]>772[?BXGO<H
M?_(8KU%>]:4MGZG#C/\`EW_A0M%%%:G"%%%%`!1110`4444`%%%%`!1110`4
M444`%%%%`!1110`4444`%%%%`&-XO_Y%/4O^N#5Q_P`-'DCL]8>)-\BK&47/
MWCA\"NO\7_\`(J:E_P!<&K@/`OB+3="%Y]OF:/SBFS:A;.-V>GU%8RTJ)L].
MA&4L+-)7U1S;ZE>MJAU$R,+SS?,W`<AOI^F*]1\1:!)XF\/02/&L.HQQB10/
M[Q7E"3VS_(5S$WC/1?[?:[308)(P^?M/21A_?`QC/Z^]>DVLR7-NES$=R2J'
M4XQD$9%%.*=U>Y>+K3BX24>5K^K'E_A#Q'+X>U&33=1$BV[OL92?]0X."<>G
MKCTS7>Z1X?AT?5]0NX''E7H1O+"XV$9SC';G-<Y\0?#*SQ-K5G&JS1C_`$A>
M`&4?Q?4?K^%'@KQA#]A_L_4GV-;*!'+AFWKD\'CMQ^%*/NOED*NO;TW6I==)
M(S[[CXNQC_IXC_\`18KTX=Z\LEN8;SXJ6\]N^^-YX\'!&?W?O7J8JJ6S]3#&
MIKV:?\J'4445J<(4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11
M10`4444`9^MZ<^K:3<6*2"(SQE-Y&<9[XKAO^%5W?_07B_[\'_XJO2:*F4%+
M<Z*6)JT5:#M]QY%)\.=<6_%NGDO"3Q<[@%`]2O7\*]1TVR_L_3;:R5MXMXEC
M#'C.!C-6\8H`Q2C",=AU\54KI*?09)$)$9'565@00>A%<!>?"YY;R:2UU"*"
M!W)2(Q%M@],[J]#HIRBI;D4:]2C?D=C@M'^'%QIFKVM\^I12K!)O*"$C=P>^
M:[P#%+11&*BK(56M.J^:;N%%%%49!1110`4444`%%%%`!1110`4444`%%%%`
M!112;AF@!:*0L!UXI:`"BBDS0`M%(3BEH`**3-+0`44F>:6@`HI,\XI:`"BB
MB@`HI,TM`!129%&X>M`"T4@.1FC(SB@!:***`"BBB@`HHHH`****`"O&-)^(
MVI:9\3=3L=7NY9M*?4)K1`P&(#YA"$>PQ@^WTKV>O%M#\+V_BW5/B#ITORS#
M4B]O)WCD$DV#].Q]C0!V/Q)U?4-)BT(V%W);FXU2.*78<;T.<J?:NW`P*\(O
M_$5UJNA:%I.J[UU;2-;A@N5<?,P^8*Q/<\$'Z9[BO>*`$/0UY3HD/B7Q7XE\
M20Q^+KS3H=.OWBBCCC5QMWO@<XZ8KU8]*\@\)6'B&\\5^,#H6MPZ:%U1_-62
MU6;?\[X(R>,<_G0!WWA[0-6T:YFDU'Q-<ZNDBA52:(($.>N0:Z'M65H-IK-G
M:/'K>IQZC<&3*2QVXB"I@<8'ODY]ZUJ`,#Q'H6J:RUN=.\17&CB+=O$,8;S<
MXQG)[8/YUP&DV?BO4_&>L>'SXWOHUTU4(F$2DR;@#TSQU]:]>KSGPG_R6+Q=
M_P!<XOY+0!V'A_2K[2;$P:AJTNJS&0MY\J[2`0,+@9Z8/YUK444`>>2ZYJ:_
M'"'1A>R_V>UIO-OGY2VQCG\Q7H=>63?\G$VY_P"G(_\`HMJ]3H`*S?$=Q+:>
M&-5N;>0QS0V4SQN.JL$)!_.M*LGQ9_R)^M?]@^?_`-%M0!E_#74+S5O`FG7]
M_</<7,OF[Y'/+8D8#]`*ZJN,^$G_`"332?I+_P"C7KLZ`/-?$=]JVO\`Q)C\
M(0ZM/I>GK;B>5[4[)93C.`W7N/;@]:Z/0/"EUX>U1Y(M>U&^L)82K6]_-YI2
M3((96P,#&X$4WQ9X'L/%)CN/-DL-1AXAOK?B11SP<$9')[_S-9GA_P`1Z[I?
MB.U\)^*8XI9YXF:TOX&XG"@YW#LV![<]N<T`=V.!6-XCTK4-7M88=/UN?272
M3<TD*!BXP>.:V5^Z.<T&@#R6]T_Q5:>.]/\`#7_";W[)>6SSF?R5RI7=QC/^
MS7?>&=#U/1A<_P!I>(;G6/.V[//C">5C.<8/?(_*N<U?_DN.@?\`8-E_]GKT
M"@`HHHH`****`"BBB@`KA_`OAO5=%\3^++V_MA%!J5\9;5O,5MZ[Y#G`)(X8
M=<5W%%`'F7CWX>WVJ>+M+U[1X!*PFB^V)O50`C`A^2,G''?H*],'O2T4`%>5
M:?IOC[PSXC\076D^';:[M]3OGF5YKM%^7<Q!`#CJ&[UZK10!ROAO4?&MWJ;1
M^(=`M+"T$1*RPW`<E\C`P&/8G\JZJBB@`KB_#WA[5+#XD>(M8N+8)97R1B"7
MS%.\@#/`.1T/45VE%`!1110!YAXET#Q=!\3E\3Z%I$-]%';"-?-N$0$E2IX+
M`]ZU;+6/B3+?6\=YX4L(K9I5$TBW:DHA(W$#?S@9KNJ*`$&<<U0\06LU]X<U
M.SMDWS7%G+%&N0,LR$`9/N:T**`.:^'FCWV@^"-/TS48?)NH1)O3<&QF1B.0
M2.A%=+110!R&O7WCJRUB0:/HEGJFG.`8\W"Q2(<#(.Y@",\C@UGZ+HGB?6_&
M-MXC\3V-OIHTZ)H[6UB<2%BP(+$AB.__`.K'/?T4`(!@`&EHHH`Y#4="U*X^
M*>DZY%;[K"VLI(I9=ZC:QWX&,Y[CM77T44`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`
'!1110!__V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
