<SUBMISSION>
<ACCESSION-NUMBER>0000893220-04-001107
<TYPE>S-4
<PUBLIC-DOCUMENT-COUNT>12
<FILING-DATE>20040525
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>AMKOR TECHNOLOGY INC
<CIK>0001047127
<ASSIGNED-SIC>3674
<IRS-NUMBER>231722724
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>S-4
<ACT>33
<FILE-NUMBER>333-115821
<FILM-NUMBER>04828384
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1345 ENTERPRISE DR
<CITY>WEST CHESTER
<STATE>PA
<ZIP>19380
<PHONE>6104319600
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1345 ENTERPRISE DR
<CITY>WEST CHESTER
<STATE>PA
<ZIP>19380
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>S-4
<SEQUENCE>1
<FILENAME>w97741sv4.htm
<DESCRIPTION>FORM S-4
<TEXT>
<HTML>
<HEAD>
<TITLE>sv4</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center">
<B><FONT size="2">As filed with the Securities and Exchange
Commission on May&nbsp;25, 2004</FONT></B>
</DIV>

<DIV align="right">
<B><FONT size="2">Registration
No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B>
</DIV>

<DIV align="left">
<HR size="1" width="100%" align="left" noshade>
</DIV>

<DIV align="left">
<HR size="1" width="100%" align="left" noshade>
</DIV>

<P align="center">
<B><FONT size="4">SECURITIES AND EXCHANGE COMMISSION</FONT></B>

<DIV align="center">
<B>Washington,&nbsp;D.C. 20549</B>
</DIV>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<P align="center">
<B><FONT size="5">Form S-4</FONT></B>

<DIV align="center">
<B>REGISTRATION STATEMENT</B>
</DIV>

<DIV align="center">
<B>UNDER</B>
</DIV>

<DIV align="center">
<B>THE SECURITIES ACT OF 1933</B>
</DIV>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<P align="center">
<B><FONT size="6">Amkor Technology, Inc.</FONT></B>

<DIV align="center">
<I><FONT size="2">(Exact name of Registrant as specified in its
charter)</FONT></I>
</DIV>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="33%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="32%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="29%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <B><FONT size="2">Delaware</FONT></B></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <B><FONT size="2">3674</FONT></B></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <B><FONT size="2">23-1722724</FONT></B></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <I><FONT size="2">(State or other jurisdiction of<BR>
    incorporation or organization)</FONT></I></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <I><FONT size="2">(Primary Standard Industrial<BR>
    Classification Code Number)</FONT></I></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <I><FONT size="2">(I.R.S. Employer<BR>
    Identification Number)</FONT></I></TD>
</TR>

</TABLE>
</CENTER>

<P align="center">
<B><FONT size="2">1345 Enterprise Drive</FONT></B>

<DIV align="center">
<B><FONT size="2">West Chester, PA 19380</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">(610)&nbsp;431-9600</FONT></B>
</DIV>

<DIV align="center">
<I><FONT size="2">(Address, including zip code, and telephone
number, including area code, of Registrant&#146;s principal
executive offices)</FONT></I>
</DIV>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<P align="center">
<B><FONT size="2">Kenneth T. Joyce</FONT></B>

<DIV align="center">
<B><FONT size="2">Chief Financial Officer</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">Amkor Technology, Inc.</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">1345 Enterprise Drive</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">West Chester, PA 19380</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">(610)&nbsp;431-9600</FONT></B>
</DIV>

<DIV align="center">
<I><FONT size="2">(Name, address, including zip code, and
telephone number, including area code, of agent for
service)</FONT></I>
</DIV>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<P align="center">
<B><I><FONT size="2">Copies to:</FONT></I></B>

<DIV align="center">
<B><FONT size="2">David J. Segre,&nbsp;Esq.</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">Robert A. Claassen,&nbsp;Esq.</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">Robert D. Sanchez,&nbsp;Esq.</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">Wilson Sonsini Goodrich&nbsp;&#38;
Rosati</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">Professional Corporation</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">650 Page Mill Road</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">Palo Alto, California 94304-1050</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">(650) 493-9300</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Approximate date of commencement of proposed
sale to the public:</FONT></B><FONT size="2"> As soon as
practicable after this Registration Statement becomes effective.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If the securities being registered on this Form
are being offered in connection with the formation of a holding
company and there is compliance with General Instruction&nbsp;G,
check the following
box.&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="wingdings">&#111;</FONT>
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If this Form is filed to register additional
securities for an offering pursuant to Rule&nbsp;462(b) under
the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier
effective registration statement for the same
offering.&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="wingdings">&#111;</FONT>
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If this Form is a post-effective amendment filed
pursuant to Rule&nbsp;462(d) under the Securities Act, check the
following box and list the Securities Act registration statement
number of the earlier effective registration statement for the
same
offering.&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="wingdings">&#111;</FONT>
</FONT>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<P align="center">
<B><FONT size="2">CALCULATION OF REGISTRATION FEE</FONT></B>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="26%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="15%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="15%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="15%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="17%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="9"></TD>
</TR>

<TR>
    <TD colspan="9" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="9"></TD>
</TR>

<TR>
    <TD colspan="9" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Proposed Maximum</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Proposed Maximum</FONT></B></TD>
    <TD></TD>
    <TD></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Title of Each Class&nbsp;of</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Amount to be</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Offering Price Per</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Aggregate Offering</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Amount of</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Securities to be Registered</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Registered(1)</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Unit(2)</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Price</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Registration Fee</FONT></B></TD>
</TR>

<TR>
    <TD colspan="9"></TD>
</TR>

<TR>
    <TD colspan="9" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">7&nbsp;1/8%&nbsp;Senior Notes due 2011
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom">
    <FONT size="2">$250,000,000
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom">
    <FONT size="2">100%
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom">
    <FONT size="2">$250,000,000
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom">
    <FONT size="2">$31,675.00
    </FONT></TD>
</TR>

<TR>
    <TD colspan="9" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="9" align="left"><HR size="1" noshade></TD>

</TR>

</TABLE>
</CENTER>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Estimated solely for the purpose of calculating
    the registration fee pursuant to Rule&nbsp;457(f) under the
    Securities Act of 1933.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Equals the aggregate principal amount of the
    securities being registered.
    </FONT></TD>
</TR>

</TABLE>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">The registrant hereby amends this Registration
Statement on such date or dates as may be necessary to delay its
effective date until the registrant shall file a further
amendment which specifically states that this Registration
Statement shall thereafter become effective in accordance with
Section&nbsp;8(a) of the Securities Act of 1933 or until this
Registration Statement shall become effective on such date as
the Securities and Exchange Commission, acting pursuant to said
Section&nbsp;8(a), may determine.</FONT></B>

<P align="left">
<HR size="1" width="100%" align="left" noshade>

<DIV align="left">
<HR size="1" width="100%" align="left" noshade>
</DIV>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<TABLE width="100%" border="1" cellpadding="5"><TR><TD>
<FONT size="2" color="#E8112D">The information in this
prospectus is not complete and may be changed. We may not offer
these securities for exchange until the Securities and Exchange
Commission declares our registration statement effective. This
prospectus is not an offer to sell these securities and it is
not soliciting an offer to buy these securities in any state
where the offer or sale is not permitted.</FONT><FONT size="2">
<BR>
</FONT>
</TD></TR></TABLE>

<P align="center">
<B><FONT size="2" color="#E8112D">Subject to Completion, dated
May&nbsp;25, 2004</FONT></B>

<DIV align="left">
<B><FONT size="2">PROSPECTUS</FONT></B>
</DIV>

<P align="center">
<B><FONT size="6">Amkor Technology, Inc.</FONT></B>

<P align="center">
<B><FONT size="4">OFFER TO EXCHANGE</FONT></B>

<P align="center">
<B>$250,000,000</B>

<DIV align="center">
<B>7&nbsp;1/8% Senior Notes&nbsp;due 2011</B>
</DIV>

<DIV align="center">
<B>that have been registered under the Securities Act of 1933,
as amended</B>
</DIV>

<DIV align="center">
<B>for any and all of its outstanding</B>
</DIV>

<DIV align="center">
<B>7&nbsp;1/8% Senior Notes&nbsp;due 2011</B>
</DIV>

<DIV align="center">
<B>that were issued and sold in a transaction exempt from
registration</B>
</DIV>

<DIV align="center">
<B>under the Securities Act of 1933, as amended</B>
</DIV>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor Technology, Inc., a Delaware corporation,
hereby offers to exchange, upon the terms and conditions set
forth in this prospectus and the accompanying letter of
transmittal, up to $250&nbsp;million in aggregate principal
amount of its registered 7&nbsp;1/8%&nbsp;senior notes due 2011,
which we refer to as the &#147;exchange notes,&#148; for the
same principal amount of its outstanding unregistered
7&nbsp;1/8%&nbsp;senior notes due 2011, which we refer to as the
&#147;original notes.&#148;
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The terms of the exchange notes are substantially
identical to the terms of the original notes, except that the
exchange notes will generally be freely transferable and do not
contain certain terms with respect to liquidated damages. We
will issue the exchange notes under the indenture governing the
original notes (the &#147;Indenture&#148;). For a description of
the principal terms of the exchange notes, see &#147;Description
of the Notes.&#148;
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">The exchange offer will expire at
5:00&nbsp;p.m., New York City time, on
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
2004, unless we extend the offer.</FONT></B><FONT size="2"> At
any time prior to the expiration date, you may withdraw your
tender of any original notes; otherwise, such tender is
irrevocable. We will receive no cash proceeds from the exchange
offer.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The exchange notes constitute a new issue of
securities for which there is no established trading market. Any
original notes not tendered and accepted in the exchange offer
will remain outstanding. To the extent original notes are
tendered and accepted in the exchange offer, your ability to
sell untendered, and tendered but unaccepted, original notes
could be adversely affected. Following consummation of the
exchange offer, the original notes will continue to be subject
to their existing transfer restrictions and we will have no
further obligations to provide for the registration of the
original notes under the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;). We cannot guarantee that an active
trading market will develop or give assurances as to the
liquidity of the trading market for either the original notes or
the exchange notes.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This prospectus, as it may be amended or
supplemented from time to time, may be used by a broker-dealer
in connection with resales of exchange notes received for
original notes that were acquired by such broker-dealer for its
own account as a result of market-making activities or other
trading activities. If any holder of the original notes notifies
us prior to the 20th business day following the consummation of
the exchange offer that it is prohibited by law or policy of the
Securities and Exchange Commission (the &#147;SEC&#148;) from
participating in the exchange offer, that it may not resell the
exchange notes acquired by it in the exchange offer to the
public without delivering a prospectus, and this prospectus is
not appropriate or available for such resales by it, or that it
is a broker-dealer and holds original notes acquired directly
from us or our affiliates, we will use commercially reasonable
efforts to file with the SEC a shelf registration statement to
register for public resale the original notes held by any such
holder who provides us with certain information for inclusion in
the shelf registration statement, such shelf registration
statement to be effective by the SEC on or prior to
120&nbsp;days after such obligation to file a shelf registration
statement arises.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Investing in the exchange notes&nbsp;involves
certain risks. Please read &#147;Risk Factors&#148; beginning on
page&nbsp;8 of this prospectus.</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This prospectus and the letter of transmittal are
first being mailed to all holders of the original notes on
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
2004.
</FONT>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Neither the SEC nor any state securities
commission has approved or disapproved of the exchange
notes&nbsp;or determined if this prospectus is truthful or
complete. Any representation to the contrary is a criminal
offense.</FONT></B>

<P align="center">
<FONT size="2">The date of this prospectus is
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
2004.
</FONT>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2"> <A name='101'></A>
</FONT>
</DIV>

<!-- link1 "WHERE YOU CAN FIND MORE INFORMATION" -->

<P align="center">
<B><FONT size="2">WHERE YOU CAN FIND MORE INFORMATION</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We file annual, quarterly and special reports,
prospectuses and other information with the SEC. You may read
and copy any reports, statements or other information that we
file at the SEC&#146;s public reference rooms at 450&nbsp;Fifth
Street, N.W., Washington,&nbsp;D.C. 20549. Please call the SEC
at 1-800-SEC-0330 for more information on the public reference
rooms. These SEC filings are also available to the public from
commercial document retrieval services and at the Internet world
wide web site maintained by the SEC at www.sec.gov.
</FONT>

<DIV align="left">
<A name='102'></A>
</DIV>

<!-- link1 "INCORPORATION BY REFERENCE" -->

<P align="center">
<B><FONT size="2">INCORPORATION BY REFERENCE</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
2004, we filed with the SEC a registration statement on
Form&nbsp;S-4, under the Securities Act, of which this
prospectus is a part. This prospectus does not contain all the
information in the registration statement. We have omitted parts
of the registration statement, as permitted by the rules and
regulations of the SEC. You may inspect and copy the
registration statement, including exhibits, at the SEC&#146;s
public reference facilities or its web site. Our statements in
this prospectus about the contents of any contract or other
document are not necessarily complete. You should refer to the
copy of each contract or other document we have filed as an
exhibit to the registration statement for complete information.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The SEC allows us to &#147;incorporate by
reference&#148; into this prospectus the information that we
file with the SEC. This means that we can disclose important
information to you by referring you to those documents. The
information we incorporate by reference is considered a part of
this prospectus, and later information that we file with the SEC
will automatically update and supersede this information. We
incorporate by reference the documents listed below, all filings
filed by us pursuant to the Securities Exchange Act of 1934, as
amended (the &#147;Exchange Act&#148;), after the date of the
initial registration statement and prior to effectiveness of the
registration statement, and any future filings that we make with
the SEC under Section&nbsp;13(a), 13(c), 14 or 15(d) of the
Exchange Act until the exchange offer is completed:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Our Quarterly Report on Form&nbsp;10-Q for the
    quarter ended March&nbsp;31, 2004, filed with the SEC on
    May&nbsp;5, 2004;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Our Annual Report on Form&nbsp;10-K for the year
    ended December&nbsp;31, 2003, filed with the SEC on
    March&nbsp;4, 2004;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Our Current Reports on Form&nbsp;8-K and
    Form&nbsp;8-K/A filed with the SEC on January&nbsp;28, 2004;
    March&nbsp;12, 2004, May&nbsp;5, 2004, and May&nbsp;19, 2004.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Copies of the documents listed above are also
available free of charge though our website (www.amkor.com) as
soon as reasonably practicable after we electronically file the
material with, or furnish it to, the SEC.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This prospectus incorporates important business
and financial information about us that is not included in or
delivered with the prospectus. Documents incorporated by
reference are available from us without charge upon written or
oral request. Any person, including any beneficial owner, to
whom this prospectus is delivered may obtain documents
incorporated by reference in, but not delivered with, this
prospectus by requesting them by telephone or in writing at the
following address:
</FONT>

<P align="center">
<FONT size="2">Amkor Technology, Inc.
</FONT>

<DIV align="center">
<FONT size="2">1345 Enterprise Drive
</FONT>
</DIV>

<DIV align="center">
<FONT size="2">West Chester, PA 19380
</FONT>
</DIV>

<DIV align="center">
<FONT size="2">(610)&nbsp;431-9600
</FONT>
</DIV>

<DIV align="center">
<FONT size="2">Attn: Corporate Secretary
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">TO OBTAIN TIMELY DELIVERY, YOU MUST REQUEST THESE
DOCUMENTS NO LATER THAN FIVE BUSINESS DAYS BEFORE THE EXPIRATION
DATE OF THE EXCHANGE OFFER,
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
2004.
</FONT>

<P align="center"><FONT size="2">i
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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">You should rely only on the information
incorporated by reference or provided in this prospectus or any
prospectus supplement. We have not authorized anyone else to
provide you with information different from that contained in
this prospectus. We are offering to exchange original notes for
exchange notes only in jurisdictions where such offer is
permitted. You should not assume that the information in the
incorporated documents, this prospectus or any prospectus
supplement is accurate as of any other date other than the date
on the front of these documents.
</FONT>

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<P align="center"><FONT size="2">ii
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<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="left">
<FONT size="2"> <A name='103'></A>
</FONT>
</DIV>

<!-- link1 "PROSPECTUS SUMMARY" -->

<P align="center">
<B><FONT size="2">PROSPECTUS SUMMARY</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This summary may not contain all the information
that may be important to you. You should read the entire
prospectus, including the additional documents to which we refer
you, before making an investment decision. See &#147;Where You
Can Find More Information.&#148; In this prospectus, unless
otherwise noted, &#147;we,&#148; &#147;our,&#148;
&#147;us,&#148; and &#147;Amkor&#148; refer to Amkor Technology,
Inc. and its consolidated subsidiaries.
</FONT>

<P align="center">
<B><FONT size="2">AMKOR TECHNOLOGY, INC.</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor is one of the world&#146;s largest
subcontractors of semiconductor packaging and test services. The
company has built a leading position by:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Providing a broad portfolio of packaging and test
    technologies and services;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Maintaining a leading role in the design and
    development of new package and test technologies;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Cultivating long-standing relationships with
    customers, including many of the world&#146;s leading
    semiconductor companies;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Developing expertise in high-volume
    manufacturing; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Diversifying our operational scope by
    establishing production capabilities in China, Japan and Taiwan,
    in addition to long-standing capabilities in Korea and the
    Philippines.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The semiconductors that we package and test for
our customers ultimately become components in electronic systems
used in communications, computing, consumer, industrial,
automotive and military applications. Our customers include,
among others, Agilent Technologies, Atmel Corporation, Conexant
Systems, Inc., Infineon Technologies AG, Intel Corporation,
Philips Electronics N.V., Samsung Electronics Corporation LTD,
ST&nbsp;Microelectronics PTE, Texas Instruments Inc. and Toshiba
Corporation. The outsourced semiconductor packaging and test
market is very competitive. We also compete with the internal
semiconductor packaging and test capabilities of many of our
customers, some of whom can use us as a source of overflow
capacity.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Packaging and test are an integral part of the
semiconductor manufacturing process. Semiconductor manufacturing
begins with silicon wafers and involves the fabrication of
electronic circuitry into complex patterns, thus creating
individual chips on the wafers. The packaging process creates an
electrical interconnect between the semiconductor chip and the
system board. In packaging, the fabricated semiconductor wafers
are cut into individual chips which are then attached to a
substrate and encased in a protective material to provide
optimal electrical and thermal performance. Increasingly,
packages are custom designed for specific chips and specific
end-market applications. The packaged chips are then tested
using sophisticated equipment to ensure that each packaged chip
meets its design specifications.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We historically marketed the output of fabricated
semiconductor wafers provided by a wafer fabrication foundry
owned and operated by Anam Semiconductor, Inc.
(&#147;ASI&#148;). On February&nbsp;28, 2003, we sold our wafer
fabrication services business to ASI. We reflect our wafer
fabrication services segment as a discontinued operation and
have restated our historical results.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We were incorporated in 1997 in the state of
Delaware. Our principal offices are located at
1345&nbsp;Enterprise Drive, West Chester, Pennsylvania 19380.
Our telephone number is (610)&nbsp;431-9600 and our website can
be accessed at www.amkor.com. Information contained in our
website does not constitute part of this prospectus.
</FONT>
</DIV>

<P align="center"><FONT size="2">1
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<P align="center">
<B><FONT size="2">SUMMARY OF THE EXCHANGE OFFER</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On March&nbsp;12, 2004, we completed a private
offering of our 7&nbsp;1/8%&nbsp;Senior Notes due March&nbsp;15,
2011. We refer to these notes as the original notes. We received
aggregate net proceeds, before expenses and commissions, of
$250&nbsp;million from the sale of the original notes.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In connection with the sale of the original
notes, we entered into a Registration Rights Agreement with the
initial purchasers of the original notes. Under the Registration
Rights Agreement, we have agreed to file a registration
statement regarding the exchange of the original notes for up to
$250&nbsp;million aggregate principal amount of
7&nbsp;1/8%&nbsp;Senior Notes due March&nbsp;15, 2011 which are
registered under the Securities Act. We refer to the notes
issued for the original notes in this exchange offer as the
exchange notes. We have also agreed to use our commercially
reasonable efforts to cause the registration statement to become
effective with the SEC by October&nbsp;8, 2004. You should read
the discussion under the heading &#147;Description of the
Notes&#148; beginning on page&nbsp;31 for more information about
the exchange notes. After the exchange offer is completed, you
will no longer be entitled to any exchange or, with limited
exceptions, registration rights for your original notes.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">The Exchange Offer
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">We are offering to exchange up to
    $250&nbsp;million aggregate principal amount of the exchange
    notes, which have been registered under the Securities Act, for
    up to $250&nbsp;million aggregate principal amount of the
    original notes. Original notes may only be exchanged in $1,000
    increments. We will exchange the applicable exchange notes for
    all original notes that are validly tendered and not withdrawn
    prior to the expiration of the exchange offer.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">The form and terms of the exchange notes are
    identical in all material respects to those of the original
    notes, except the exchange notes will not be subject to transfer
    restrictions and holders of the exchange notes, with limited
    exceptions, will have no registration rights. Also, the exchange
    notes will not include provisions contained in the original
    notes that require us to pay liquidated damages in the event we
    fail to satisfy our registration obligations with respect to the
    original notes.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">Original notes that are not tendered for exchange
    will continue to be subject to transfer restrictions and, with
    limited exceptions, will not have registration rights.
    Therefore, the market for secondary resales of original notes
    that are not tendered for exchange is likely to be minimal.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">We will issue registered exchange notes on or
    promptly after the expiration of the exchange offer.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Expiration Date
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">The exchange offer will expire at 5:00&nbsp;p.m.,
    New York City time, on
    [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
    2004, unless we decide to extend the expiration date.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Conditions to the Exchange Offer
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">The exchange offer is subject to customary
    conditions. This exchange offer is not conditioned upon any
    minimum principal amount of original notes being tendered.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Procedures for Tendering Notes
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">If you wish to tender your original notes for
    exchange notes, you must:
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;complete and sign the enclosed letter
    of transmittal by following the related instructions,&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;send the letter of transmittal, as
    directed in the instructions, together with any other required
    documents, to the exchange
    </FONT></TD>
</TR>

</TABLE>
</DIV>

<P align="center"><FONT size="2">2
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<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
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</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">agent either (1)&nbsp;with the original notes to
    be tendered, or (2)&nbsp;in compliance with the specified
    procedures for guaranteed delivery of the original notes
    described in &#147;The Exchange Offer&nbsp;&#151; Guaranteed
    Delivery Procedures.&#148;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">Brokers, dealers, commercial banks, trust
    companies and other nominees may also effect tenders by
    book-entry transfer through DTC&#146;s Automated Tender Offer
    Program (&#147;ATOP&#148;). If your original notes are
    registered in the name of a broker, dealer, commercial bank,
    trust company or other nominee, we urge you to contact that
    person promptly if you wish to tender your original notes
    pursuant to this exchange offer. See &#147;The Exchange
    Offer&nbsp;&#151; Procedures for Tendering.&#148;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">Please do not send your letter of transmittal or
    certificates representing your original notes to us. Those
    documents should be sent only to the exchange agent. Questions
    regarding how to tender and requests for information should be
    directed to the exchange agent. See &#147;The Exchange
    Offer&nbsp;&#151; Exchange Agent.&#148;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Guaranteed Delivery Procedures
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">You must tender your original notes according to
    the guaranteed delivery procedures described in &#147;The
    Exchange Offer&nbsp;&#151; Guaranteed Delivery Procedures&#148;
    if any of the following apply:
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;you wish to tender your original
    notes but they are not immediately available,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;you cannot deliver your original
    notes, the letter of transmittal or any other required documents
    to the exchange agent prior to the expiration date,&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;you cannot comply with the applicable
    procedures under DTC&#146;s ATOP prior to the expiration date.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Resale of the Exchange Notes
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">Except as provided below, we believe that the
    exchange notes may be offered for resale, resold and otherwise
    transferred by you without compliance with the registration and
    prospectus delivery provisions of the Securities Act provided
    that:
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;the exchange notes are being acquired
    in the ordinary course of business,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;you are not participating, do not
    intend to participate, and have no arrangement or understanding
    with any person to participate in the distribution of the
    exchange notes issued to you in the exchange offer,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;you are not one of our affiliates,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;you are not a broker-dealer tendering
    original notes acquired directly from us for your
    account,&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;you are not prohibited by law or any
    policy of the SEC from participating in the exchange offer.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">Our belief is based on interpretations by the
    staff of the SEC, as set forth in no-action letters issued to
    third parties that are not related to us. The SEC has not
    considered this exchange offer in the context of a no-action
    letter, and we cannot assure you that the
    </FONT></TD>
</TR>

</TABLE>
</DIV>

<P align="center"><FONT size="2">3
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<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">SEC would make similar determinations with
    respect to this exchange offer. If any of these conditions are
    not satisfied, or if our belief is not accurate, and you
    transfer any exchange notes issued to you in the exchange offer
    without delivering a resale prospectus meeting the requirements
    of the Securities Act or without an exemption from registration
    of your exchange notes from those requirements, you may incur
    liability under the Securities Act. We will not assume, nor will
    we indemnify you against, any such liability.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">Each broker-dealer that receives exchange notes
    for its own account in exchange for original notes, where the
    original notes were acquired by such broker-dealer as a result
    of market-making or other trading activities, must acknowledge
    that it will deliver a prospectus in connection with any resale
    of such exchange notes. See &#147;Plan of Distribution.&#148;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Record Date
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">We mailed this prospectus and the related offer
    documents to the registered holders of the original notes on
    [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
    2004.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Withdrawal Rights
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">You may withdraw the tender of your original
    notes at any time prior to the expiration date of the exchange
    offer. You must follow the withdrawal procedures as described in
    &#147;The Exchange Offer&nbsp;&#151; Withdrawal of Tenders.&#148;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">If You Fail to Exchange Your Original Notes
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">If you do not exchange your original notes for
    exchange notes in the exchange offer, you will continue to be
    subject to the restrictions on transfer provided in the original
    notes and Indenture governing those notes. In general, you may
    not offer to sell your original notes unless they are registered
    under the federal securities laws or are sold in a transaction
    exempt from or not subject to the registration requirements of
    the federal securities laws and applicable state securities laws.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Certain United States Federal Income Tax
    Considerations
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">The exchange of original notes for exchange notes
    will not be a taxable exchange for United States federal income
    tax purposes. Please read &#147;Certain United States Federal
    Income Tax Considerations&#148; on page&nbsp;68.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Use of Proceeds
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">We will not receive any proceeds from the
    issuance of the exchange notes pursuant to the exchange offer.
    Except as described in &#147;The Exchange Offer&nbsp;&#151; Fees
    and Expenses,&#148; we will pay the expenses incident to the
    exchange offer.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Registration Rights
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">If we fail to complete the exchange offer as
    required by the Registration Rights Agreement, we may be
    obligated to pay additional interest to holders of the original
    notes. Please read &#147;Description of the Notes&nbsp;&#151;
    Registration Rights; Liquidated Damages&#148; beginning on
    page&nbsp;48 for more information regarding your rights as a
    holder of the original notes.
    </FONT></TD>
</TR>

</TABLE>
</DIV>

<P align="center"><FONT size="2">4
</FONT>
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<P align="center">
<B><FONT size="2">THE EXCHANGE AGENT</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We have appointed Wells Fargo Bank, National
Association as exchange agent for the exchange offer. Please
direct questions and requests for assistance, requests for
additional copies of this prospectus or of the letter of
transmittal and requests for the notice of guaranteed delivery
to the exchange agent. If you are not tendering under DTC&#146;s
ATOP, you should send the letter of transmittal and any other
required documents to the exchange agent as follows:
</FONT>

<P align="center">
<B><FONT size="2">Wells Fargo Bank, National
Association</FONT></B>

<CENTER>
<TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="40%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="33%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="21%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <I><FONT size="2">By Mail (Registered or Certified<BR>
    Mail Recommended) or Courier:</FONT></I></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <I><FONT size="2">By Facsimile Transmission<BR>
    (Eligible Institutions Only):</FONT></I></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <I><FONT size="2">Confirm by Telephone:</FONT></I></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <I><FONT size="2">Wells Fargo Bank, National Association<BR>
    Corporate Trust Operations<BR>
    MAC N9303-121<BR>
    Sixth Street and Marquette Avenue<BR>
    Minneapolis, MN 55479<BR>
    Attention: Amkor Exchange Offer</FONT></I></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <I><FONT size="2">(612)&nbsp;677-6961<BR>
    Attention: Joe Taffe</FONT></I></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <I><FONT size="2">(612)&nbsp;316-4305</FONT></I></TD>
</TR>

</TABLE>
</CENTER>

<P align="center">
<B><FONT size="2">THE EXCHANGE NOTES</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The form and terms of the exchange notes to be
issued in the exchange offer are the same as the form and terms
of the original notes, except that the exchange notes will be
registered under the Securities Act and, therefore, will not
bear legends restricting their transfer, will not contain terms
providing for liquidated damages if we fail to perform our
registration obligations with respect to the original notes and,
with limited exceptions, will not be entitled to registration
rights under the Securities Act. The exchange notes will
evidence the same debt as the original notes, and both the
original notes and the exchange notes are governed by the same
Indenture.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Issuer
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">Amkor Technology, Inc., a Delaware corporation.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Notes Offered
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">$250&nbsp;million aggregate principal amount of
    7&nbsp;1/8%&nbsp;Senior Notes due 2011.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Maturity
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">March&nbsp;15, 2011.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Interest Payment Dates
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">March&nbsp;15 and September&nbsp;15 of each year,
    beginning on September&nbsp;15, 2004.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Listing
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">The exchange notes will not be listed on any
    exchange or market.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Ranking
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">The exchange notes will be our unsecured senior
    debt:
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;the exchange notes will be
    effectively subordinated to all our existing and future secured
    debt, to the extent of such security, and to all existing and
    future debt and other liabilities of our subsidiaries, including
    trade payables;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;the exchange notes will rank equally
    with all our existing and future unsecured senior debt including
    our 9.25%&nbsp;senior notes due 2008 and our 7.75%&nbsp;senior
    notes due 2013;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;the exchange notes will rank senior
    to all our existing and future debt that expressly provides that
    it is subordinated to the exchange notes, including our
    10.50%&nbsp;senior subordinated notes due 2009, our
    5.75%&nbsp;convertible subordinated notes due 2006 and our
    5.00%&nbsp;convertible subordinated notes due 2007.
    </FONT></TD>
</TR>

</TABLE>
</DIV>

<P align="center"><FONT size="2">5
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">As of March&nbsp;31, 2004, the exchange notes
    would have been:
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;effectively subordinated to
    $1.6&nbsp;million of secured debt and $381.0&nbsp;million of
    indebtedness and other liabilities of our subsidiaries,
    including trade payables but excluding intercompany obligations;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;ranked equally with
    $470.5&nbsp;million of our 9.25%&nbsp;senior notes due 2008 and
    $425.0&nbsp;million of our 7.75%&nbsp;senior notes due 2013; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;senior to $579.4&nbsp;million of
    subordinated debt, including our 10.50%&nbsp;senior subordinated
    notes due 2009, our 5.75%&nbsp;convertible subordinated notes
    due 2006 and our 5.00%&nbsp;convertible subordinated notes due
    2007.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Subsidiary Guarantors
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">There are currently no subsidiary guarantors of
    the exchange notes.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Redemption
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">We may redeem up to 35% of the exchange notes
    with the net cash proceeds of our equity offerings at any time
    prior to March&nbsp;15, 2007, at the redemption prices specified
    in this prospectus under &#147;Description of the
    Notes&nbsp;&#151; Optional Redemption.&#148; We may redeem some
    or all of the exchange notes at any time at a redemption price
    equal to 100% of their principal amount plus accrued interest
    and a Make-Whole Amount (as defined). See &#147;Description of
    the Notes&nbsp;&#151; Optional Redemption.&#148;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Change in Control
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">If we experience a change in control, we will be
    required to make an offer to repurchase the exchange notes at a
    price equal to 101% of the principal amount plus accrued and
    unpaid interest, if any, to the date of repurchase. For more
    detailed information, see &#147;Description of the
    Notes&nbsp;&#151; Repurchase at the Option of Holder&nbsp;&#151;
    Offer to Repurchase Upon Change of Control.&#148;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Covenants
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">We will issue the exchange notes under the
    Indenture with Wells Fargo Bank, National Association, as
    Trustee. The Indenture will, among other things, restrict our
    ability and the ability of our subsidiaries to:
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;incur additional indebtedness, except
    that we may incur additional indebtedness if we maintain
    compliance with certain financial covenants (see
    &#147;Description of the Notes&nbsp;&#151; Incurrence of
    Indebtedness and Issuance of Preferred Stock&#148; beginning on
    page&nbsp;37);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;pay dividends, repurchase stock,
    prepay subordinated debt and make investments and other
    restricted payments;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;create restrictions on the ability of
    our subsidiaries to pay dividends or make other payments;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;engage in sale and leaseback
    transactions;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;create liens;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;enter into transactions with
    affiliates;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;sell assets or merge with or into
    other companies. These covenants are subject to important
    exceptions that are described in the section entitled
    &#147;Description of the Notes&nbsp;&#151; Certain
    Covenants.&#148;
    </FONT></TD>
</TR>

</TABLE>
</DIV>

<P align="center"><FONT size="2">6
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Ratio of Earnings to Fixed Charges
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">The following table sets forth our ratio of
    earnings to fixed charges for the periods indicated.
    </FONT></TD>
</TR>

</TABLE>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="40%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="19"></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="19" align="center" nowrap><B><FONT size="1">Year Ended December&nbsp;31,</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Three Months Ended</FONT></B></TD>
    <TD></TD>
    <TD colspan="19" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">March&nbsp;31, 2004</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">2003</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">2002</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">2001</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">2000</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">1999</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Ratio
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1.4x</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;&nbsp;x</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(1)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;x</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(1)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;x</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(1)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2.2</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">x</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2.3x</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<HR size="1" width="18%" align="left" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The ratio of earnings to fixed charges was less
    than 1:1 for the year ended December&nbsp;31, 2003. In order to
    achieve a ratio of earnings to fixed charges of 1:1, we would
    have had to generate an additional $45.3&nbsp;million of
    earnings in the year ended December&nbsp;31, 2003. The ratio of
    earnings to fixed charges was less than 1:1 for the year ended
    December&nbsp;31, 2002. In order to achieve a ratio of earnings
    to fixed charges of 1:1, we would have had to generate an
    additional $564.3&nbsp;million of earnings in the year ended
    December&nbsp;31, 2002. The ratio of earnings to fixed charges
    was less than 1:1 for the year ended December&nbsp;31, 2001. In
    order to achieve a ratio of earnings to fixed charges of 1:1, we
    would have had to generate an additional $438.5&nbsp;million of
    earnings in the year ended December&nbsp;31, 2001.
    </FONT></TD>
</TR>

</TABLE>
</DIV>

<P align="center"><FONT size="2">7
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2"> <A name='104'></A>
</FONT>
</DIV>

<!-- link1 "RISK FACTORS" -->

<P align="center">
<B><FONT size="2">RISK FACTORS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">You should carefully consider the risks
described below and other information contained in this
prospectus before making an investment decision. The risks and
uncertainties described below are not the only ones facing our
company. Additional risks and uncertainties not presently known
to us, or that we currently deem immaterial, may also impair our
business operations. We cannot assure you that any of the events
discussed in the risk factors below will not occur. If they do,
our business, financial condition or results of operations could
be materially adversely affected. In such case, the trading
price of the original notes and the exchange notes could
decline.</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">This prospectus contains forward-looking
statements made as of the date of this prospectus regarding our
expected performance that involve risks and uncertainties. Our
actual results could differ materially from those anticipated in
these forward-looking statements as a result of certain factors,
including the risks faced by us described below and elsewhere in
this prospectus.</FONT></I>

<P align="left">
<B><FONT size="2">Risks Relating to the Exchange Offer</FONT></B>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Because there is no public market for the
    exchange notes, you may not be able to sell your exchange
    notes.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The exchange notes will be registered under the
Securities Act, but will constitute a new issue of securities
with no established trading market, and there can be no
assurance as to:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the liquidity of any trading market that may
    develop;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the ability of holders to sell their exchange
    notes;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the price at which the holders would be able to
    sell their exchange notes.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The exchange notes will not be listed on any
exchange or market. If a trading market were to develop, the
exchange notes might trade at higher or lower prices than their
principal amount or purchase price, depending on many factors,
including prevailing interest rates, the market for similar
securities and our financial performance. Any market-making
activity in the exchange notes will be subject to the limits
imposed by the Securities Act and the Exchange Act.
</FONT>

<P align="left">
<FONT size="2">The market prices quoted for the notes may be
adversely affected by changes in:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the overall market for high yield securities;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">our financial performance or prospects;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the prospects for companies in the semiconductor
    industry generally;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">prevailing interest rates and general economic
    positions.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">As a result, we cannot assure holders of notes
that an active trading market will develop for the notes or that
any trading market that does develop will be liquid.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In addition, any original note holder who tenders
in the exchange offer for the purpose of participating in a
distribution of the exchange notes may be deemed to have
received restricted securities and, if so, will be required to
comply with the registration and prospectus delivery
requirements of the Securities Act in connection with any resale
transaction.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Your original notes will not be accepted
    for exchange if you fail to follow the exchange offer
    procedures.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We will issue exchange notes pursuant to the
exchange offer only after a timely receipt of your original
notes, a properly completed and duly executed letter of
transmittal and all other required documents, or if you comply
with the guaranteed delivery procedures for tendering your
original notes. Therefore, if you want to tender your original
notes, please allow sufficient time to ensure timely delivery.
If we do not receive your original notes, letter of transmittal
and all other required documents by the expiration date of the
exchange offer, or if you do not otherwise comply with the
guaranteed delivery procedures for tendering your original
notes, we will not accept your original notes for exchange. We
are under no duty to give notification of defects or
irregularities with respect to the tenders of original notes for
exchange. If there are defects or irregularities with respect to
your tender of original notes, we will not accept your original
notes for exchange.
</FONT>

<P align="center"><FONT size="2">8
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">If you do not exchange your original notes,
    your original notes will continue to be subject to the existing
    transfer restrictions and you may be unable to sell
    them.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We did not register the original notes, nor do we
intend to do so following the exchange offer. Original notes
that are not tendered will therefore continue to be subject to
the existing transfer restrictions and may be transferred only
in limited circumstances under applicable securities laws. If
you do not exchange your original notes, you will lose your
right to have your original notes registered under the federal
securities laws. As a result, if you hold original notes after
the exchange offer, you may be unable to sell your original
notes. We have no obligation, except in limited circumstances,
nor do we currently intend, to file an additional registration
statement to cover the resale of any original notes that are not
tendered in the exchange offer or to re-offer to exchange the
exchange notes for original notes following the expiration of
the exchange offer.
</FONT>

<P align="left">
<B><FONT size="2">Risks Related to an Investment in the
Notes</FONT></B>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">The following risk factors apply to both
    the original notes and the exchange notes.</FONT></I></B></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">High leverage and restrictive
    covenants&nbsp;&#151; our substantial indebtedness could
    adversely affect our financial condition and prevent us from
    fulfilling our obligations under the notes.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Substantial
Leverage.</FONT></I><FONT size="2"> We have a significant amount
of indebtedness. In addition, despite current debt levels, the
terms of the indentures governing the notes and our other
securities do not prohibit us or our subsidiaries from incurring
substantially more debt. If new debt is added to our
consolidated debt level, the related risks that we now face
could intensify. The following table shows certain important
financial data and credit ratio as of March&nbsp;31, 2004:
</FONT>

<CENTER>
<TABLE width="70%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="74%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="11%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="11%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">At March&nbsp;31, 2004</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Actual</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">(In thousands)</FONT></B></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Total debt, including current maturities
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,756,895</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Stockholders&#146; equity
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">421,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Ratio of total debt to stockholders&#146; equity
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">4.2x</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We were required to pay to Citizen Watch Co.,
Ltd. (&#147;Citizen&#148;) 1.7&nbsp;billion Japanese yen in
deferred purchase price and other contingent payments in
connection with our purchase of the semiconductor packaging
business of Citizen. In April 2003, we made a payment of
300.0&nbsp;million yen, or $2.5&nbsp;million on date of payment.
Pending the resolution of a controversy relating to patents
acquired from Citizen, we are withholding payment of
1.4&nbsp;billion yen ($13.3&nbsp;million based on the spot
exchange rate at March&nbsp;31, 2004).
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On May&nbsp;17, 2004, we announced that we had
entered into a strategic long-term agreement with International
Business Machines Corporation (&#147;IBM&#148;) for
semiconductor assembly and test services. The transaction is
valued at approximately $145&nbsp;million, consisting of
$114&nbsp;million for land, buildings and fixtures, and
$31&nbsp;million for equipment and intangibles. We will pay IBM
a total of $63&nbsp;million for fixtures, equipment, intangibles
and intellectual property, with payments of $20&nbsp;million at
closing, expected May&nbsp;31, 2004, and $43&nbsp;million in the
fourth quarter of 2004. Further, we will pay $82&nbsp;million to
the China building developer in the fourth quarter of 2004.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Covenants in the agreements governing our
existing debt, and debt we may incur in the future, may
materially restrict our operations, including our ability to
incur debt, pay dividends, make certain investments and
payments, and encumber or dispose of assets. In addition,
financial covenants contained in agreements relating to our
existing and future debt could lead to a default in the event
our results of operations do not meet our plans and we are
unable to amend such financial covenants prior to default. A
default under one debt instrument may also trigger
cross-defaults under our other debt instruments. An event of
default under any debt instrument, if not cured or waived, could
have a material adverse effect on us. See &#147;Description of
the Notes&nbsp;&#151; Certain Covenants&#148; beginning on
page&nbsp;34.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our substantial indebtedness could have important
consequences to holders of the notes. For example, it could:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">make it more difficult for us to satisfy our
    obligations with respect to the notes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">increase our vulnerability to general adverse
    economic and industry conditions;
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">9
</FONT>
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<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">limit our ability to fund future working capital,
    capital expenditures, research and development and other general
    corporate requirements;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">require us to dedicate a substantial portion of
    our cash flow from operations to service payments on our debt;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">limit our flexibility to react to changes in our
    business and the industry in which we operate;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">place us at a competitive disadvantage to any of
    our competitors that have less debt;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">limit, along with the financial and other
    restrictive covenants in our indebtedness, among other things,
    our ability to borrow additional funds.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Ability to Service
Debt.</FONT></I><FONT size="2"> We cannot assure you that our
business will generate cash in an amount sufficient to enable us
to service our debt, including the notes, or to fund our other
liquidity needs. We expect that substantial amounts of our debt
will come due prior to the final maturity date of the notes,
which we will be required to repay or refinance. Our
5.75%&nbsp;convertible subordinated notes due 2006, our
5.00%&nbsp;convertible subordinated notes due 2007, our
9.25%&nbsp;senior notes due 2008, our 10.5%&nbsp;senior
subordinated notes due 2009, and amounts outstanding under our
existing secured debt will mature prior to the 2011 maturity
date of the notes and will be payable in cash unless the holders
of the convertible notes elect to convert the principal amount
of such notes into our common stock. In addition, we may need to
refinance all or a portion of our debt, including the notes, on
or before maturity. We cannot assure you that we will be able to
refinance any of our debt on commercially reasonable terms or at
all.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Effective subordination of the notes to
    liabilities of our subsidiaries&nbsp;&#151; your right to
    receive payments on the notes from funds provided by our
    subsidiaries is junior in right of payment to the claims of the
    creditors of our subsidiaries.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We conduct a large portion of our operations
through our subsidiaries. Accordingly, our ability to meet our
cash obligations is dependent upon the ability of our
subsidiaries to make cash payments to us. For the three months
ended March&nbsp;31, 2003 and March&nbsp;31, 2004, revenues of
our subsidiaries were approximately $165.7 and
$209.8&nbsp;million, respectively. We expect distributions from
our subsidiaries to be a large source of funds for payment of
the interest on the notes. The claims of creditors (including
trade creditors) of any subsidiary will generally have priority
as to the assets of such subsidiary over the claims of the
holders of the notes. In the event of a liquidation of any of
our subsidiaries, our right to receive the assets of any such
subsidiary (and the resulting right of the holders of the notes
to participate in the distribution of the proceeds of those
assets) will effectively be subordinated by operation of law to
the claims of creditors (including trade creditors) of such
subsidiary and holders of such subsidiary&#146;s preferred stock
and any guarantees by such subsidiary of our indebtedness, such
as the subsidiary guarantees under our senior secured credit
facility. In the event of the liquidation, bankruptcy,
reorganization, insolvency, receivership or similar proceeding
or any assignment for the benefit of our creditors or a
marshaling of our assets or liabilities, holders of the notes
may receive ratably less than other such creditors or interest
holders. As of March&nbsp;31, 2004, the notes would have been
effectively subordinated to $381.0&nbsp;million of indebtedness
and other liabilities of our subsidiaries, including trade
payables but excluding intercompany obligations.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Financing change of control
    offer&nbsp;&#151; we may not have, or be able to raise, the
    funds necessary to finance an offer to repurchase the notes
    following a change of control or we may be prohibited from doing
    so by our secured credit facilities.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Upon the occurrence of a change of control, we
must offer to repurchase all outstanding notes. However, it is
possible that we will not have sufficient funds at the time of
the change of control to make the required repurchases of notes
or that restrictions in our credit facilities or other debt
agreements may not allow such repurchases.
</FONT>

<P align="center"><FONT size="2">10
</FONT>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Difficulties in enforcing judgments in
    foreign jurisdictions.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Since a large portion of our assets are located
outside the U.S., any judgments obtained in the
U.S.&nbsp;against us, including judgments with respect to the
payment of principal, premium, interest, offer price, or other
amounts payable with respect to the notes may be not collectible
within the U.S.&nbsp;If holders of notes intend to enforce a
judgment obtained in the U.S.&nbsp;against our assets located
outside the U.S., they may be subject to additional procedures
and other difficulties which would not be required for
enforcement of such judgment in the U.S.
</FONT>

<P align="left">
<B><FONT size="2">Risks Related to Our Business</FONT></B>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Dependence on the highly cyclical
    semiconductor and electronic products industries&nbsp;&#151; we
    operate in volatile industries, and industry downturns harm our
    performance.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our business is tied to market conditions in the
semiconductor industry, which is highly cyclical. Because our
business is, and will continue to be, dependent on the
requirements of semiconductor companies for subcontracted
packaging and test services, any downturn in the semiconductor
industry or any other industry that uses a significant number of
semiconductor devices, such as the personal computer and
telecommunication devices industries, could have a material
adverse effect on our business. We experienced significant
recovery in most of our packaging services during 2002 and 2003.
Beginning in the second half of 2003, a large number of
customers over-supported their forecasts as demand materialized
faster than initially projected. However, there still remains
some uncertainty as to the sustainability of these trends. If
industry conditions do not continue to improve, we could sustain
significant losses which could materially impact our business
including our liquidity.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Fluctuations in operating
    results&nbsp;&#151; our results have varied and may vary
    significantly as a result of factors that we cannot
    control.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Many factors could materially and adversely
affect our revenues, gross profit and operating income, or lead
to significant variability of quarterly or annual operating
results. Our profitability is dependent upon the utilization of
our capacity, semiconductor package mix, the average selling
price of our services and our ability to control our costs
including labor, material, overhead and financing costs. Our
operating results have varied significantly from period to
period. During the three year period ended December&nbsp;31,
2003, and continuing into the quarter ending March&nbsp;31,
2004, our revenues, gross margins and operating income have
fluctuated significantly as a result of the following factors
over which we have little or no control and which we expect to
continue to impact our business:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">fluctuation in demand for semiconductors and the
    overall health of the semiconductor industry,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">changes in our capacity utilization,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">declining average selling prices,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">changes in the mix of semiconductor packages,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">absence of backlog and the short-term nature of
    our customers&#146; commitments and the impact of these factors
    on the timing and volume of orders relative to our production
    capacity,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">changes in costs, availability and delivery times
    of raw materials and components,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">changes in labor costs to perform our services,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the timing of expenditures in anticipation of
    future orders,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">changes in effective tax rates,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">high leverage and restrictive covenants,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">warranty and product liability claims and
    associated legal fees,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">international events that impact our operations
    and environmental events such as earthquakes, and
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">11
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">difficulties integrating acquisitions and ability
    to attract qualified employees to support our geographic
    expansion.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We have historically been unable to accurately
predict the impact of these factors upon our results for a
particular period. We also expect that these factors as well as
the factors set forth below, which have not significantly
impacted our recent historical results, may impair our future
business operations and may materially and adversely affect our
revenues, gross profit and operating income, or lead to
significant variability of quarterly or annual operating results:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the availability and cost of financing for
    expansion,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">loss of key personnel or the shortage of
    available skilled workers,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">rescheduling and cancellation of large orders,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">intellectual property transactions and
    disputes,&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">fluctuations in our manufacturing yields.
    </FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Declining average selling
    prices&nbsp;&#151; the semiconductor industry places downward
    pressure on the prices of our products.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Prices for packaging and test services have
declined over time. Historically, we have been able to partially
offset the effect of price declines by successfully developing
and marketing new packages with higher prices, such as advanced
leadframe and laminate packages, by negotiating lower prices
with our material vendors, and by driving engineering and
technological changes in our packaging and test processes which
resulted in reduced manufacturing costs. During 2003 and 2002,
as compared to the comparable prior year periods, the decline in
average selling prices eroded margins by 6% and 16%,
respectively, and in the three months ended March&nbsp;31, 2004
they declined approximately 11% as compared to average selling
prices in the comparable period in 2003. We expect that average
selling prices for our packaging and test services will continue
to decline in the future. If our semiconductor package mix does
not shift to new technologies with higher prices or we cannot
reduce the cost of our packaging and test services to offset a
decline in average selling prices, our future operating results
will suffer.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Investment in ASI&nbsp;&#151; our results
    and financial condition may be adversely affected by decreases
    in the price of ASI&#146;s common stock.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">At March&nbsp;31, 2004, we owned
14.7&nbsp;million shares, or 12%, of ASI&#146;s voting stock. We
currently account for our investment in ASI as a marketable
security that is available for sale. We intend to sell our
remaining investment in ASI. The ultimate level of proceeds from
the sale of our remaining investment in ASI could be less than
the current carrying value of $55.1&nbsp;million. In addition,
in the event of a decline in the market value of the ASI stock
that is not temporary, we will be required to record a charge to
earnings for the unrealized loss, and a new cost basis for the
stock will be established.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In April 2004, we sold 10.1&nbsp;million shares
of ASI common stock for approximately $49.7&nbsp;million, or
$4.91&nbsp;per share, based on the spot exchange rate as of the
transaction dates, reducing our ownership to approximately 4%.
The pre-tax gain related to this transaction is
$21.6&nbsp;million and was recorded as other expense (income)
during the second quarter of 2004.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In connection with our sale of ASI shares to
Dongbu in September 2002, Amkor and Dongbu agreed to use their
best efforts to provide releases and indemnifications to the
past and incumbent chairman, directors and officers of ASI,
including James Kim, our CEO and chairman, and members of his
family, from any and all liabilities arising out of the
performance of their duties at ASI between January&nbsp;1, 1995
and December&nbsp;31, 2001. We are not aware of any claims or
other liabilities which these individuals would be released from
or for which they would receive indemnification.
</FONT>

<P align="center"><FONT size="2">12
</FONT>
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<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Absence of backlog&nbsp;&#151; we may not
    be able to adjust costs quickly if our customers&#146; demand
    falls suddenly.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our packaging and test business does not
typically operate with any material backlog. We expect that in
the future our quarterly net revenues from packaging and test
will continue to be substantially dependent upon our
customers&#146; demand in that quarter. None of our customers
have committed to purchase any significant amount of packaging
or test services or to provide us with binding forecasts of
demand for packaging and test services for any future period. In
addition, our customers could reduce, cancel or delay their
purchases of packaging and test services. Because a large
portion of our costs is fixed and our expense levels are based
in part on our expectations of future revenues, we may be unable
to adjust costs in a timely manner to compensate for any revenue
shortfall.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Risks associated with international
    operations&nbsp;&#151; we depend on our factories in the
    Philippines, Korea, Japan, Taiwan and China. Many of our
    customers&#146; and vendors&#146; operations are also located
    outside of the U.S.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We provide packaging and test services through
our factories located in the Philippines, Korea, Japan, Taiwan
and China. Moreover, many of our customers&#146; and
vendors&#146; operations are located outside the U.S.&nbsp;The
following are some of the risks inherent in doing business
internationally:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">regulatory limitations imposed by foreign
    governments;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">fluctuations in currency exchange rates;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">political, military and terrorist risks;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">disruptions or delays in shipments caused by
    customs brokers or government agencies;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">unexpected changes in regulatory requirements,
    tariffs, customs, duties and other trade barriers;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">difficulties in staffing and managing foreign
    operations;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">potentially adverse tax consequences resulting
    from changes in tax laws.
    </FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Difficulties integrating
    acquisitions&nbsp;&#151; we face challenges as we integrate new
    and diverse operations and try to attract qualified employees to
    support our expansion.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">As a result of our geographic expansion and our
business strategy to pursue strategic acquisitions, we have
experienced, and expect to continue to experience, growth in the
scope and complexity of our operations. For example, each
business we have acquired had, at the time of acquisition,
multiple systems for managing its own manufacturing, sales,
inventory and other operations. Migrating these businesses to
our systems typically is a slow, expensive process requiring us
to divert significant amounts of resources from multiple aspects
of our operations. This growth has strained our managerial,
financial, manufacturing and other resources. Future
acquisitions and expansions may result in inefficiencies as we
integrate new operations and manage geographically diverse
operations. Our success depends to a significant extent upon the
continued service of our key senior management and technical
personnel, any of whom would be difficult to replace.
Competition for qualified employees is intense, and our business
could be adversely affected by the loss of the services of any
of our existing key personnel. Additionally, as part of our
ongoing strategic planning, we evaluate our management team and
engage in long-term succession planning in order to ensure
orderly replacement of key personnel. We cannot assure you that
we will be successful in these efforts or in hiring and properly
training sufficient numbers of qualified personnel and in
effectively managing our growth. Our inability to attract,
retain, motivate and train qualified new personnel could have a
material adverse effect on our business.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Dependence on materials and equipment
    suppliers&nbsp;&#151; our business may suffer if the cost,
    quality or supply of materials or equipment changes
    adversely.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We obtain from various vendors the materials and
equipment required for the packaging and test services performed
by our factories. We source most of our materials, including
critical materials such as leadframes,
</FONT>

<P align="center"><FONT size="2">13
</FONT>

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<DIV align="left">
<FONT size="2">laminate substrates and gold wire, from a limited
group of suppliers. Furthermore, we purchase all of our
materials on a purchase order basis and have no long-term
contracts with any of our suppliers. Our business may be harmed
if we cannot obtain materials and other supplies from our
vendors: (1)&nbsp;in a timely manner, (2)&nbsp;in sufficient
quantities, (3)&nbsp;in acceptable quality or (4)&nbsp;at
competitive prices.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Beginning in the second quarter of 2003, we began
to experience increases in substrate material costs as a result
of supply shortages. Substrate material costs have stabilized at
the higher price levels set during the second quarter of 2003.
We have significantly enhanced our supply base and do not
foresee substrate material availability as an ongoing issue.
However, supply shortages may again occur in the future, and in
such an event gross margins could be negatively impacted.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In addition, the average price of gold has been
increasing over the past few years. Although we have been able
to partially offset the effect of gold price increases through
price adjustments to customers and changes in our product
designs, gold prices may continue to increase. To the extent
that we are unable to offset these increases in the future, our
gross margins could be negatively impacted.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Capital expenditures&nbsp;&#151; we are
    required to make substantial capital expenditures, which may
    adversely affect our business.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">As customer demand increases, our business
requires us to increase our capital expenditures in order to
meet increased production requirements. We expect growth in our
business in 2004 based on industry estimates for the
semiconductor industry as a whole, and our expectation that the
trend towards increased outsourcing of packaging and test
services in the semiconductor industry will continue. As of
April&nbsp;30, 2004, we spent $221.6&nbsp;million on capital
expenditures, and we expect to spend between $300&nbsp;million
and $500&nbsp;million in total on capital expenditures in 2004,
excluding expenditures on business combinations to diversify our
geographic operations and expand our customer base. Our capital
expenditure requirements may strain our cash and short-term
asset balances, and we expect that the depreciation expenses
and, to a lesser extent, factory operating expenses associated
with our capital expenditures to increase production capacity,
will put downward pressure on our near-term gross margin. In
addition, there can be no assurance that we will be able to
recognize these expenditures with future revenue.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Increased litigation incident to our
    business&nbsp;&#151; our business may suffer as a result of our
    involvement in various lawsuits.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We are currently a party to various legal
proceedings, including those noted below. While we currently
believe that the ultimate outcome of these proceedings,
individually and in the aggregate, will not have a material
adverse effect on our financial position or overall trends in
results of operations, litigation is subject to inherent
uncertainties. If an unfavorable ruling were to occur, there
exists the possibility of a material adverse impact on our net
income in the period in which the ruling occurs. The estimate of
the potential impact from the following legal proceedings on our
financial position or overall results of operations could change
in the future.
</FONT>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EPOXY MOLD
COMPOUND LITIGATION</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We have become party to an increased number of
litigation matters relative to our historic levels. Much of our
recent increase in litigation relates to an allegedly defective
epoxy mold compound, formerly used in some of our products,
which is alleged to be responsible for certain semiconductor
chip failures. In the case of each of these matters, we believe
we have meritorious defenses, as well as valid third-party
claims against Sumitomo Bakelite Co., Ltd. (&#147;Sumitomo
Bakelite&#148;), the manufacturer of the challenged epoxy
product, should the epoxy mold compound be found to be
defective. We cannot be certain, however, that we will be able
to recover any amount from Sumitomo Bakelite if we are held
liable in these matters, or that any adverse result would not
have a material impact upon us. Moreover, other customers of
ours have made inquiries about the epoxy mold compound, which
was widely used in the semiconductor industry, and no assurance
can be given that claims similar to those already asserted will
not be made against us by other customers in the future.
</FONT>

<P align="center"><FONT size="2">14
</FONT>
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<DIV align="left">
<FONT size="2">We incurred legal fees associated with this epoxy
mold compound litigation of $4.9&nbsp;million during the three
months ended March&nbsp;31, 2004, and expect to continue to
incur related expenses throughout 2004.
</FONT>
</DIV>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">&#149;&nbsp;Fujitsu Limited&nbsp;v. Cirrus
    Logic, Inc., et&nbsp;al.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On April&nbsp;16, 2002, we were served with a
third-party complaint in an action entitled Fujitsu
Limited&nbsp;v. Cirrus Logic, Inc., No.&nbsp;02-CV-01627 JW,
pending in the United States District Court for the Northern
District of California, San&nbsp;Jose Division. In this action,
Fujitsu Limited (&#147;Fujitsu&#148;) alleges that semiconductor
devices it purchased from Cirrus Logic, Inc. (&#147;Cirrus
Logic&#148;) are defective in that a certain epoxy mold compound
used in the manufacture of the chip causes a short circuit which
renders Fujitsu disk drive products inoperable. Cirrus Logic, in
response, denied the allegations of the complaint,
counterclaimed against Fujitsu for unpaid invoices, and filed
its third-party complaint against us alleging that any liability
for chip defects should be assigned to us because we assembled
the subject semiconductor devices. Upon receipt of Cirrus
Logic&#146;s third-party complaint, we filed an answer denying
all liability, and our own third-party complaint against
Sumitomo Bakelite. Sumitomo Bakelite filed an answer denying
liability. In June 2003, Fujitsu amended its complaint and added
direct claims against us. In response, we filed an answer
denying all liability to Fujitsu. The parties engaged in
discovery activities. Fujitsu has indicated that it may seek
damages in excess of $100&nbsp;million. In November 2003,
Fujitsu filed an action against Cirrus Logic, Sumitomo Bakelite
and us entitled Fujitsu Limited&nbsp;v. Cirrus Logic, Inc.,
et&nbsp;al., Case No.&nbsp;1-03-CV-009885, in the California
Superior Court for the County of Santa&nbsp;Clara, based on
facts and allegations substantially similar to those asserted in
the Northern District Court of California. In December 2003,
Cirrus Logic filed a cross-complaint against Sumitomo Bakelite
and us in the Superior Court case, also based on facts and
allegations substantially similar to those asserted in the
Northern District Court case. By stipulation among the parties,
the Court has granted a stay of the action pending in the
Northern District Court of California in favor of the action
pending in the Santa&nbsp;Clara Superior Court, where discovery
is ongoing and a trial is scheduled to begin on January&nbsp;31,
2005. On March&nbsp;29, 2004, we filed a motion to dismiss
Fujitsu&#146;s amended complaint in the Superior Court. On
April&nbsp;2, 2004, we also filed a motion to dismiss Cirrus
Logic&#146;s cross-complaint. At the May&nbsp;4, 2004 hearing on
our motions to dismiss, the Court sustained our motion to
dismiss in part, and gave Fujitsu and Cirrus Logic thirty days
to replead its complaint against us. If necessary, we intend to
deny all liability, to file cross-claims against Sumitomo
Bakelite, and to seek judgment in our favor in due course.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">&#149;&nbsp;Seagate Technology LLC&nbsp;v.
    Atmel Corporation, et&nbsp;al.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In March 2003, we were served with a
cross-complaint in an action between Seagate Technology LLC and
Seagate Technology International (&#147;Seagate&#148;) and Atmel
Corporation and Atmel Sarl (&#147;Atmel&#148;) in the Superior
Court of California, Santa&nbsp;Clara County, Case
No.&nbsp;1-02-CV809883. Atmel&#146;s cross-complaint seeks
indemnification from us for any damages incurred from the claims
by Seagate involving the allegedly defective epoxy mold compound
manufactured by Sumitomo Bakelite. We answered Atmel&#146;s
cross-complaint, denying all liability, and filed a
cross-complaint against Sumitomo Bakelite. Atmel later amended
its cross-complaint, including adding ChipPAC Inc.
(&#147;ChipPAC&#148;) as a cross-defendant. ChipPAC filed a
cross-complaint against Sumitomo Bakelite and us. On
January&nbsp;27, 2004, the Superior Court sustained Sumitomo
Bakelite&#146;s motion to dismiss Atmel&#146;s amended
cross-complaint, granting Atmel 30&nbsp;days to file an amended
pleading. Atmel filed its Second Amended Cross-Complaint on or
about March&nbsp;12, 2004. On April&nbsp;13, 2004, we filed an
answer denying all liability to Atmel. We filed a motion to
dismiss ChipPAC&#146;s cross-complaint on February&nbsp;13,
2004; ChipPAC has indicated its intent to file an amended
cross-complaint by April&nbsp;27, 2004. If appropriate, we may
seek to dismiss ChipPAC&#146;s amended pleading, and otherwise
intend to deny all liability to ChipPAC. All parties are
currently conducting discovery and no trial date has been set.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">&#149;&nbsp;Maxtor Corporation&nbsp;v.
    Koninklijke Philips Electronics N.V., et&nbsp;al.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In April 2003, we were served with a
cross-complaint in an action between Maxtor Corporation
(&#147;Maxtor&#148;) and Koninklijke Philips Electronics
(&#147;Philips&#148;), in the Superior Court of California,
Santa&nbsp;Clara County, Case No.&nbsp;1-02-CV-808650.
Philips&#146; cross-complaint sought indemnification from us for
any damages incurred from the claims by Maxtor involving the
allegedly defective epoxy mold compound manufactured by
</FONT>

<P align="center"><FONT size="2">15
</FONT>

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<DIV align="left">
<FONT size="2">Sumitomo Bakelite. Philips subsequently filed a
cross-complaint directly against Sumitomo Bakelite, alleging,
among other things, that Sumitomo Bakelite breached its
contractual obligations to both us and Philips by supplying a
defective mold compound resulting in the failure of certain
Philips semiconductor devices. We denied all liability in this
matter and also asserted a cross-complaint against Sumitomo
Bakelite. Sumitomo Bakelite has denied any liability. The
parties completed fact discovery and most expert discovery.
Maxtor and Philips reached a settlement of Maxtor&#146;s claims
against Philips on or about April&nbsp;28, 2004. Philips and
Amkor have publicly announced that they have resolved the
dispute between them by means of a settlement agreement stated
by the parties on the record before the Court on April&nbsp;29,
2004. The parties are currently preparing papers to memorialize
the settlement. For the three months ended March&nbsp;31, 2004,
we recorded a charge of $1.5&nbsp;million in Resolution of Legal
Dispute in our consolidated statement of income associated with
this resolution. The trial of Philips&#146; claims against
Sumitomo Bakelite is scheduled to start on August&nbsp;2, 2004.
</FONT>
</DIV>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">&#149;&nbsp;Maxim Integrated Products,
    Inc.&nbsp;v. Amkor Technology, Inc., et&nbsp;al.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In August 2003, we were served with a complaint
filed by Maxim Integrated Products, Inc. (&#147;Maxim&#148;)
against us, Sumitomo Bakelite and Sumitomo Plastics America,
Inc. (&#147;Sumitomo Plastics&#148;) in the Superior Court of
California, Santa&nbsp;Clara County, Case
No.&nbsp;1-03-CV-001310. The complaint seeks damages related to
our use of Sumitomo Bakelite&#146;s epoxy mold compound in
assembling Maxim&#146;s semiconductor packages. Both the
Sumitomo defendants and we filed motions to dismiss Maxim&#146;s
complaint in September 2003. In lieu of contesting those motions
to dismiss, Maxim filed an amended pleading on or about
April&nbsp;26, 2004. We intend to file a motion to dismiss
Maxim&#146;s amended complaint, to deny all liability to Maxim
and to file cross-claims against Sumitomo Bakelite. Discovery
has not commenced and there is no trial date set.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">&#149;&nbsp;Fairchild Semiconductor
    Corporation&nbsp;v. Sumitomo Bakelite Singapore Pte. Ltd.,
    et&nbsp;al.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In September 2003, we were served with an amended
complaint filed by Fairchild Semiconductor Corporation
(&#147;Fairchild&#148;) against us, Sumitomo Bakelite, Sumitomo
Plastics and Sumitomo Bakelite Singapore Pte. Ltd. in the
Superior Court of California, Santa&nbsp;Clara County, Case
No.&nbsp;1-02-CV-810034. The amended complaint seeks damages
related to our use of Sumitomo Bakelite&#146;s epoxy mold
compound in assembling Fairchild&#146;s semiconductor packages.
Both the Sumitomo defendants and we filed motions to dismiss
Fairchild&#146;s amended complaint in October 2003. Fairchild
filed a second amended complaint in January 2004. On
February&nbsp;11, 2004, we filed a motion to dismiss
Fairchild&#146;s second amended complaint. The Superior Court
granted our motion to dismiss on March&nbsp;16, 2004, giving
Fairchild thirty days to file a further amended pleading.
Fairchild filed a third amended complaint on or about
April&nbsp;15, 2004. We filed a motion to dismiss
Fairchild&#146;s third amended pleading on May&nbsp;17, 2004. We
otherwise intend to deny all liability and to file cross-claims
against Sumitomo Bakelite. Discovery is ongoing and no trial
date has been scheduled.
</FONT>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OTHER
LITIGATION</FONT></B>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">&#149;&nbsp;Amkor Technology, Inc.&nbsp;v.
    Motorola, Inc.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On August&nbsp;16, 2002, we filed a complaint
against Motorola, Inc. in an action captioned Amkor Technology,
Inc.&nbsp;v. Motorola, Inc., C.A. No.&nbsp;02C-08-160 CHT,
pending in the Superior Court of the State of Delaware in and
for New Castle County. In this action, we were seeking
declaratory judgment relating to a controversy between us and
Motorola concerning: (i)&nbsp;the assignment by Citizen Watch
Co., Ltd. (&#147;Citizen&#148;) to us of a Patent License
Agreement dated January&nbsp;25, 1996 between Motorola and
Citizen (the &#147;License Agreement&#148;) and concurrent
assignment by Citizen to us of Citizen&#146;s interest in
U.S.&nbsp;Patents 5,241,133 and 5,216,278 (the &#147;&#146;133
and &#146;278 patents&#148;); and (ii)&nbsp;our obligation to
make certain payments pursuant to an immunity agreement (the
&#147;Immunity Agreement&#148;) dated June&nbsp;30, 1993 between
us and Motorola.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We and Motorola resolved the controversy with
respect to all issues relating to the Immunity Agreement, and
all claims and counterclaims filed by the parties in the case
relating to the Immunity Agreement were dismissed or otherwise
disposed of without further litigation. The claims relating to
the License Agreement and the &#146;133 and &#146;278 Patents
remained pending.
</FONT>

<P align="center"><FONT size="2">16
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We and Motorola both filed motions for summary
judgment on the remaining claims, and oral arguments were heard
on September&nbsp;3, 2003. On October&nbsp;6, 2003, the Superior
Court of Delaware ruled in favor of us and issued an Opinion and
Order granting our motion for summary judgment and denying
Motorola&#146;s motion for summary judgment. On October&nbsp;22,
2003, Motorola filed an appeal in Supreme Court of Delaware. The
appeal was argued on March&nbsp;9, 2004, and we are awaiting the
Court&#146;s decision. We believe we will prevail on the same
merits in such appeal. In addition, should Motorola prevail at
the appellate level, we believe we have recourse against
Citizen. However, no assurance can be given that an adverse
outcome in the case cannot occur, or that any adverse outcome
would not have a material impact.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">&#149;&nbsp;Alcatel Business
    Systems&nbsp;vs. Amkor Technology, Inc., Anam Semiconductor,
    Inc.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On November&nbsp;5, 1999, we agreed to sell
certain semiconductor parts to Alcatel Microelectronics, N.V.
(&#147;AME&#148;), a subsidiary of Alcatel S.A. The parts were
manufactured for us by Anam Semiconductor, Inc.
(&#147;ASI&#148;). AME transferred the parts to another Alcatel
subsidiary, Alcatel Business Systems (&#147;ABS&#148;), which
incorporated the parts into cellular phone products. In early
2001, a dispute arose as to whether the parts sold by us were
defective. On March&nbsp;18, 2002, ABS and its insurer filed
suit against us and ASI in the Paris Commercial Court of France,
claiming damages of 50&nbsp;million Euros (approximately
$60.9&nbsp;million based on the spot exchange rate at
March&nbsp;31, 2004). We have denied all liability and intend to
vigorously defend ourselves. Additionally, we have entered into
a written agreement with ASI whereby ASI has agreed to indemnify
us fully against any and all loss related to the claims of AME,
ABS and ABS&#146; insurer. The Paris Commercial Court commenced
a special proceeding before a technical expert to report on the
facts of the dispute. The report of the court-appointed expert
was put forth on December&nbsp;31, 2003. The report does not
specifically allocate liability to any particular party. A
hearing was held on April&nbsp;28, 2004, and a ruling is
expected within 30&nbsp;days of this date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In response to the lawsuit, on May&nbsp;22, 2002,
we filed a petition to compel arbitration in the United States
District Court for the Eastern District of Pennsylvania (the
&#147;Court&#148;) against ABS, AME and ABS&#146; insurer,
claiming that the dispute is subject to the arbitration clause
of the November&nbsp;5, 1999 agreement between us and AME. ABS
and ABS&#146; insurer have refused to arbitrate. In August 2003,
the Court denied the motion of ABS and its insurer to dismiss
our petition for arbitration. The Court also subsequently denied
a motion for reconsideration filed by ABS. The Court has not yet
set a date for final disposition of our petition.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">&#149;&nbsp;Amkor Technology, Inc.&nbsp;v.
    Carsem (M)&nbsp;Sdn Bhd, Carsem Semiconductor Sdn Bhd, and
    Carsem Inc.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In November 2003, we filed complaints against
Carsem (M) Sdn Bhd, Carsem Semiconductor Sdn Bhd, and Carsem
Inc. (collectively &#147;Carsem&#148;) with the International
Trade Commission (&#147;ITC&#148;) in Washington,&nbsp;D.C. and
subsequently in the Northern District of California. The
complaints allege infringement of our United States Patent
Nos.&nbsp;6,433,277, 6,455,356, and 6,630,728 (collectively the
&#147;Amkor Patents&#148;). We allege that by making, using,
selling, offering for sale, or importing into the U.S. the
Carsem Dual and Quad Flat No-Lead Package, Carsem has infringed
on one or more of our MicroLeadFrame&#174;packaging technology
claims in the Amkor Patents. The District Court action has been
stayed pending resolution of the ITC case. The ITC action is
scheduled for trial in July 2004.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></TD>
    <TD>
    <B><I><FONT size="2">Rapid Technological Change&nbsp;&#151; Our
    business will suffer if we cannot keep up with the technological
    advances in our industry.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The complexity and breadth of semiconductor
packaging and test services are rapidly changing. As a result,
we expect that we will need to offer more advanced package
designs in order to respond to competitive industry conditions
and customer requirements. Our success depends upon our ability
to develop and implement new manufacturing processes and package
design technologies. The need to develop and maintain advanced
packaging capabilities and equipment could require significant
research and development and capital expenditures in future
years. In addition, converting to new package designs or process
methodologies could result in delays in producing new package
types that could adversely affect our ability to meet customer
orders.
</FONT>

<P align="center"><FONT size="2">17
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Technological advances also typically lead to
rapid and significant price erosion and may make our existing
products less competitive or our existing inventories obsolete.
If we cannot achieve advances in package design or obtain access
to advanced package designs developed by others, our business
could suffer.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></TD>
    <TD>
    <B><I><FONT size="2">Competition&nbsp;&#151; We compete against
    established competitors in the packaging and test
    business.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The subcontracted semiconductor packaging and
test market is very competitive. We face substantial competition
from established packaging and test service providers primarily
located in Asia, including companies with significant
manufacturing capacity, financial resources, research and
development operations, marketing and other capabilities. These
companies also have established relationships with many large
semiconductor companies that are current or potential customers.
On a larger scale, we also compete with the internal
semiconductor packaging and test capabilities of many of our
customers.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></TD>
    <TD>
    <B><I><FONT size="2">Environmental Regulations&nbsp;&#151;
    Future environmental regulations could place additional burdens
    on our manufacturing operations.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The semiconductor packaging process uses
chemicals and gases and generates byproducts that are subject to
extensive governmental regulations. For example, at our foreign
manufacturing facilities, we produce liquid waste when silicon
wafers are diced into chips with the aid of diamond saws, then
cooled with running water. Federal, state and local regulations
in the United States, as well as international environmental
regulations, impose various controls on the storage, handling,
discharge and disposal of chemicals used in our manufacturing
processes and on the factories we occupy.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Increasingly, public attention has focused on the
environmental impact of semiconductor manufacturing operations
and the risk to neighbors of chemical releases from such
operations. In the future, applicable land use and environmental
regulations may: (1)&nbsp;impose upon us the need for additional
capital equipment or other process requirements,
(2)&nbsp;restrict our ability to expand our operations,
(3)&nbsp;subject us to liability or (4)&nbsp;cause us to curtail
our operations.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></TD>
    <TD>
    <B><I><FONT size="2">Protection of Intellectual
    Property&nbsp;&#151; We may become involved in intellectual
    property litigation.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We maintain an active program to protect our
investment in technology by acquiring intellectual property
protection and enforcing our intellectual property rights.
Intellectual property rights that apply to our various products
and services include patents, copyrights, trade secrets and
trademarks. We have filed and obtained a number of patents in
the United States and abroad. We expect to continue to file
patent applications when appropriate to protect our proprietary
technologies, but we cannot assure you that we will receive
patents from pending or future applications. In addition, any
patents we obtain may be challenged, invalidated or circumvented
and may not provide meaningful protection or other commercial
advantage to us.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We may need to enforce our patents or other
intellectual property rights or to defend ourselves against
claimed infringement of the rights of others through litigation,
which could result in substantial cost and diversion of our
resources. The semiconductor industry is characterized by
frequent claims regarding patent and other intellectual property
rights. If any third party makes a valid claim against us, we
could be required to:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">discontinue the use of certain processes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">cease the manufacture, use, import and sale of
    infringing products;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">pay substantial damages;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">develop non-infringing technologies; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">acquire licenses to the technology we had
    allegedly infringed.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If we fail to obtain necessary licenses or if we
face litigation relating to patent infringement or other
intellectual property matters, our business could suffer.
</FONT>

<P align="center"><FONT size="2">18
</FONT>

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<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Continued Control by Existing
    Stockholders&nbsp;&#151; Mr.&nbsp;James Kim and members of his
    family can substantially control the outcome of all matters
    requiring stockholder approval.</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">As of May&nbsp;1, 2004, Mr.&nbsp;James Kim and
members of his family beneficially owned approximately 42% of
our outstanding common stock. Mr.&nbsp;James Kim&#146;s family,
acting together, will substantially control all matters
submitted for approval by our stockholders. These matters could
include:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the election of all of the members of our board
    of directors;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">proxy contests;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">mergers involving our company;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">tender offers; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">open market purchase programs or other purchases
    of our common stock.
    </FONT></TD>
</TR>

</TABLE>

<DIV align="left">
<A name='105'></A>
</DIV>

<!-- link1 "FORWARD-LOOKING INFORMATION" -->

<P align="center">
<B><FONT size="2">FORWARD-LOOKING INFORMATION</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This prospectus and the documents incorporated by
reference in this prospectus contain forward-looking statements
within the meaning of the federal securities laws, including but
not limited to statements regarding: (1)&nbsp;the condition and
growth of the industry in which we operate, including trends
toward increased outsourcing, reductions in inventory and demand
and selling prices for our services, (2)&nbsp;our anticipated
capital expenditures and financing needs, (3)&nbsp;our belief as
to our future capacity utilization rates, revenue, gross margins
and operating performance and (4)&nbsp;other statements that are
not historical facts. In some cases, you can identify
forward-looking statements by terminology such as
&#147;may,&#148; &#147;will,&#148; &#147;should,&#148;
&#147;expects,&#148; &#147;plans,&#148; &#147;anticipates,&#148;
&#147;believes,&#148; &#147;estimates,&#148;
&#147;predicts,&#148; &#147;potential,&#148;
&#147;continue,&#148; or the negative of these terms or other
comparable terminology. Because such statements include risks
and uncertainties, actual results may differ materially from
those anticipated in such forward-looking statements as a result
of certain factors, including the risks described under
&#147;Risk Factors&#148; in this prospectus. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this prospectus or, as
applicable, as of the date of any such document incorporated by
reference herein. Moreover, in the future, we may make
forward-looking statements about the matters described in this
prospectus or about other matters concerning us.
</FONT>

<DIV align="left">
<A name='106'></A>
</DIV>

<!-- link1 "PRIVATE PLACEMENT" -->

<P align="center">
<B><FONT size="2">PRIVATE PLACEMENT</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We issued $250&nbsp;million in principal amount
of the original notes dated as of March&nbsp;12, 2004 to the
initial purchasers of those notes and received proceeds that
after deducting expenses and commissions represented an
aggregate of $245.2&nbsp;million in net proceeds. We issued the
original notes to the initial purchasers in a transaction exempt
from or not subject to registration under the Securities Act.
The initial purchasers then offered and resold the original
notes to qualified institutional buyers in compliance with
Rule&nbsp;144A or non-U.S.&nbsp;persons in compliance with
Regulation&nbsp;S under the Securities Act.
</FONT>

<DIV align="left">
<A name='107'></A>
</DIV>

<!-- link1 "USE OF PROCEEDS" -->

<P align="center">
<B><FONT size="2">USE OF PROCEEDS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We are making the exchange offer to satisfy our
obligations under the Registration Rights Agreement that we
entered into in connection with the private offering of the
original notes. We will not receive any cash proceeds from the
issuance of the exchange notes. In consideration of issuing the
exchange notes in the exchange offer, we will receive an equal
principal amount of original notes. Any original notes that are
properly tendered and accepted in the exchange offer will be
canceled and retired and cannot be reissued. As a result, the
issuance of the exchange notes will not result in any increase
or decrease in our outstanding indebtedness.
</FONT>

<P align="center"><FONT size="2">19
</FONT>

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<DIV align="left">
<A name='108'></A>
</DIV>

<!-- link1 "CAPITALIZATION" -->

<P align="center">
<B><FONT size="2">CAPITALIZATION</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table sets forth our cash and cash
equivalents and total capitalization as of March&nbsp;31, 2004.
You should read the following table in conjunction with our
unaudited consolidated financial statements, including the notes
thereto, contained in our Quarterly Report on Form&nbsp;10-Q for
the quarter ended March&nbsp;31, 2004, and our audited
consolidated financial statements, including the notes thereto,
and the information in &#147;Management&#146;s Discussion and
Analysis of Financial Condition and Results of Operations&#148;
contained in our Annual Report on Form&nbsp;10-K for the year
ended December&nbsp;31, 2003.
</FONT>

<CENTER>
<TABLE width="70%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="74%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">March&nbsp;31, 2004</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Actual</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">(In thousands)</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">(Unaudited)</FONT></B></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Cash and cash equivalents
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">345,496</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Long-term debt and short-term borrowings:
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Senior secured $30.0&nbsp;million revolving
    credit facility due October 2005
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">9.25%&nbsp;Senior notes due February 2008
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">470,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">7.75%&nbsp;Senior notes due May 2013
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">425,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">7.125%&nbsp;Senior notes due March 2011, net of
    unamortized discount of $1.7&nbsp;million
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">248,315</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">10.50% Senior subordinated notes due May 2009
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">200,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">5.75% Convertible subordinated notes due June 2006
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">233,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">5.00% Convertible subordinated notes due March
    2007
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">146,422</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Other debt
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">33,658</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Total debt
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,756,895</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Total stockholders&#146; equity
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">421,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Total capitalization
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2,178,395</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

</TR>

</TABLE>
</CENTER>

<P align="center"><FONT size="2">20
</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<A name='109'></A>
</DIV>

<!-- link1 "THE EXCHANGE OFFER" -->

<P align="center">
<B><FONT size="2">THE EXCHANGE OFFER</FONT></B>

<P align="left">
<B><FONT size="2">Purpose and Effect of the Exchange
Offer</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On March&nbsp;12, 2004, we sold $250&nbsp;million
in aggregate principal amount at maturity of the original notes
in a private placement. The original notes were sold to the
initial purchasers who in turn resold the notes to a limited
number of &#147;Qualified Institutional Buyers,&#148; as defined
under the Securities Act, and to non-U.S.&nbsp;persons in
transactions outside the United States in reliance on
Regulation&nbsp;S of the Securities Act. In connection with the
sale of the original notes, we entered into a Registration
Rights Agreement with the initial purchasers of the original
notes. A copy of the Registration Rights Agreement has been
filed as an exhibit to our Quarterly Report on Form&nbsp;10-Q
for the quarter ended March&nbsp;31, 2004, which is incorporated
by reference herein.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Under the Registration Rights Agreement, we have
agreed to file a registration statement regarding the exchange
of the original notes for the exchange notes which are
registered under the Securities Act. We have also agreed to use
our commercially reasonable efforts to cause the registration
statement to become effective with the SEC by October&nbsp;8,
2004. For a more detailed explanation of our obligations under
the Registration Rights Agreement, see the section entitled
&#147;Description of Notes&nbsp;&#151; Registration Rights;
Liquidated Damages.&#148;
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In order to participate in the exchange offer,
you must represent to us, among other things, that:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">you are acquiring the exchange notes in the
    exchange offer in the ordinary course of your business;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">you are not engaged in, and do not intend to
    engage in, a distribution of the exchange notes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">you do not have any arrangement or understanding
    with any person to participate in the distribution of the
    exchange notes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">you are not a broker-dealer tendering original
    notes acquired directly from us for your own account;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">you are not one of our &#147;affiliates,&#148; as
    defined in Rule&nbsp;405 of the Securities Act.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<B><FONT size="2">Resale of the Exchange Notes</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Based on interpretations by the Staff of the SEC
set forth in no-action letters issued to third parties,
including Exxon Capital Holdings Corporation (available
May&nbsp;13, 1988) and Morgan Stanley&nbsp;&#38; Co.
Incorporated (available June&nbsp;5, 1991), we believe that the
exchange notes issued in the exchange offer may be offered for
resale, resold and otherwise transferred by you, except if you
are an affiliate of us, without compliance with the registration
and prospectus delivery provisions of the Securities Act,
provided that the representations set forth in
&#147;&#151;&nbsp;Purpose and Effect of the Exchange Offer&#148;
apply to you.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">you are a broker-dealer; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">you acquire exchange notes in the exchange offer
    for the purpose of distributing or participating in the
    distribution of the exchange notes, you cannot rely on the
    position of the staff of the SEC contained in the no-action
    letters mentioned above and must comply with the registration
    and prospectus delivery requirements of the Securities Act in
    connection with any resale transaction, unless an exemption from
    registration is otherwise available.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Each broker-dealer that receives exchange notes
for its own account in exchange for private notes, which the
broker-dealer acquired as a result of market-making activities
or other trading activities, must acknowledge that it will
deliver a prospectus in connection with any resale of the
exchange notes. The letter of transmittal states that by so
acknowledging and by delivering a prospectus, a broker-dealer
will not be deemed to admit that it is an
&#147;underwriter&#148; within the meaning of the Securities
Act. A broker-dealer may use this prospectus, as it may be
amended or supplemented from time to time, in connection with
the resales of
</FONT>

<P align="center"><FONT size="2">21
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2">exchange notes received in exchange for private
notes which the broker-dealer acquired as a result of
market-making or other trading activities. Any holder that is a
broker-dealer participating in the exchange offer must notify
the exchange agent at the telephone number set forth in the
enclosed letter of transmittal and must comply with the
procedures for broker-dealers participating in the exchange
offer. We have not entered into any arrangement or understanding
with any person to distribute the exchange notes to be received
in the exchange offer. The exchange offer is not being made to,
nor will we accept surrenders for exchange from, holders of
original notes in any jurisdiction in which the exchange offer
or the acceptance thereof would not be in compliance with the
securities or blue sky laws of the particular jurisdiction.
</FONT>
</DIV>

<P align="left">
<B><FONT size="2">Terms of the Exchange Offer</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This prospectus and the accompanying letter of
transmittal together constitute the exchange offer. Upon the
terms and subject to the conditions set forth in this prospectus
and in the letter of transmittal, we will accept original notes
for exchange which are properly tendered on or before the
expiration date and are not withdrawn as permitted below. The
expiration date for this exchange offer is 5:00&nbsp;p.m., New
York City time, on
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
2004, or such later date and time to which we, in our sole
discretion, extend the exchange offer, subject to applicable law.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">As of the date of this prospectus,
$250&nbsp;million in aggregate principal amount at maturity of
the original notes are outstanding. This prospectus and the
letter of transmittal are being sent to all registered holders
of the original notes on this date. There will be no fixed
record date for determining registered holders of the original
notes entitled to participate in the exchange offer. However,
holders of the original notes must cause their original notes to
be tendered by book-entry transfer or tender their certificates
for the original notes before the expiration date of the
exchange offer in order to participate in the exchange offer.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The form and terms of the exchange notes being
issued in the exchange offer are the same as the form and terms
of the original notes, except that:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the exchange notes being issued in the exchange
    offer will have been registered under the Securities Act;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the exchange notes being issued in the exchange
    offer will not bear the restrictive legends restricting their
    transfer under the Securities Act; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the exchange notes being issued in the exchange
    offer will not contain the registration rights and provisions
    for liquidated damages contained in the original notes.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The exchange notes will evidence the same debt as
the original notes and will be issued under the same Indenture,
so the exchange notes and the original notes will be treated as
a single class of debt securities under the Indenture.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Outstanding notes being tendered in the exchange
offer must be in integral multiples of $1,000. We will issue
$1,000 principal amount of exchange notes in exchange for each
$1,000 principal amount of outstanding notes surrendered
pursuant to the exchange offer.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We intend to conduct the exchange offer in
accordance with the provisions of the Registration Rights
Agreement and applicable federal securities laws. Original notes
that are not tendered for exchange in the exchange offer will
remain outstanding and will be entitled to the rights under the
Indenture. Any original notes not tendered for exchange will not
retain any rights under the Registration Rights Agreement and
will remain subject to transfer restrictions. See
&#147;&#151;&nbsp;Consequences of Failure to Exchange.&#148;
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We will be deemed to have accepted for exchange
validly tendered original notes when, as and if we have given
oral or written notice of our acceptance of the validly tendered
original notes to the exchange agent. The exchange agent will
act as agent for the tendering holders for the purposes of
receiving the exchange notes from us. If any tendered original
notes are not accepted for exchange because of an invalid tender
or the occurrence of other events set forth in this prospectus
or otherwise, certificates for any unaccepted original notes
will be returned, or, in the case of original notes tendered by
book-entry transfer, those unaccepted original notes will be
credited to an account maintained with DTC, without expense to
the tendering
</FONT>

<P align="center"><FONT size="2">22
</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2">holder of those original notes as promptly as
practicable after the expiration date of the exchange offer. See
&#147;&#151;&nbsp;Procedures for Tendering.&#148;
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Those who tender original notes in the exchange
offer will not be required to pay brokerage commissions or fees
or, subject to the instructions in the letter of transmittal,
transfer taxes with respect to the exchange of original notes in
the exchange offer. We will pay all charges and expenses, other
than applicable taxes described below, in connection with the
exchange offer. See &#147;&#151;&nbsp;Fees and Expenses&#148;
and &#147;&#151;&nbsp;Transfer Taxes.&#148;
</FONT>

<P align="left">
<B><FONT size="2">Expiration Date; Extensions,
Amendments</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The exchange offer will expire at 5:00&nbsp;p.m.,
New York City time, on
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
2004, or such later date and time to which we, in our sole
discretion, extend the exchange offer, subject to applicable
law. In case of an extension of the expiration date of the
exchange offer, we will issue a press release or other public
announcement no later than 9:00&nbsp;a.m., New York City time,
on the next business day after the previously scheduled
expiration date. During any such extension, all original notes
you have previously tendered and not withdrawn will remain
subject to the exchange offer, and we may accept them for
exchange.
</FONT>

<P align="left">
<B><FONT size="2">Conditions to the Completion of the Exchange
Offer</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We may not accept original notes for exchange and
may terminate or not complete the exchange offer if:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any action, proceeding or litigation seeking to
    enjoin, make illegal or delay completion of the exchange offer
    or otherwise relating in any manner to the exchange offer is
    instituted or threatened;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any order, stay, judgment or decree is issued by
    any court, government, governmental authority or other
    regulatory or administrative authority and is in effect, or any
    statute, rule, regulation, governmental order or injunction
    shall have been proposed, enacted, enforced or deemed applicable
    to the exchange offer, any of which would or might restrain,
    prohibit or delay completion of the exchange offer or impair the
    contemplated benefits of the exchange offer to us;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any of the following occurs and the adverse
    effect of such occurrence shall, in our reasonable judgment, be
    continuing:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any general suspension of trading in, or
    limitation on prices for, securities on any national securities
    exchange or in the over-the-counter market in the United States;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any extraordinary or material adverse change in
    U.S. financial markets generally, including, without limitation,
    a decline of at least 10% in either the Dow Jones Industrial
    Average, the NASDAQ Index or the Standard&nbsp;&#38; Poor&#146;s
    500 Index from the date of commencement of the exchange offer;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">a declaration of a banking moratorium or any
    suspension of payments in respect of banks in the United States;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any limitation, whether or not mandatory, by any
    governmental entity on, or any other event that would reasonably
    be expected to materially adversely affect, the extension of
    credit by banks or other lending institutions;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">a commencement of a war or other national or
    international calamity directly or indirectly involving the
    United States, which would reasonably be expected to affect
    materially or adversely, or to delay materially, the completion
    of the exchange offer; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">if any of the situations described above existed
    at the time of commencement of the exchange offer and that
    situation deteriorates materially after commencement of the
    exchange offer.
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any tender or exchange offer, other than this
    exchange offer by us, with respect to some or all of our
    outstanding common stock or any merger, acquisition or other
    business combination proposal involving us shall have been
    proposed, announced or made by any person or entity;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any event or events occur that have resulted or
    may result, in our reasonable judgment, in a material adverse
    change in our business or financial condition; or
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">23
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">as the term &#147;group&#148; is used in
    Section&nbsp;13(d)(3) of the Exchange Act:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any person, entity or group acquires more than 5%
    of our outstanding shares of common stock, other than a person,
    entity or group which had publicly disclosed such ownership with
    the SEC prior to the date of commencement of the exchange offer;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any such person, entity or group which had
    publicly disclosed such ownership prior to such date shall
    acquire additional common stock constituting more than 2% of our
    outstanding shares;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any new group shall have formed that beneficially
    owns more than 5% of our outstanding shares of common stock that
    in our judgment in any such case, and regardless of the
    circumstances, makes it inadvisable to proceed with the exchange
    offer or with such acceptance for exchange of existing notes;
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any stop order is threatened or in effect with
    respect to the registration statement of which this prospectus
    constitutes a part or the qualification of the Indenture under
    the Trust Indenture Act of 1939;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any governmental approval or approval by holders
    of the original notes has not been obtained if we, in our
    reasonable judgment, deem this approval necessary for the
    consummation of the exchange offer; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">there occurs a change in the current
    interpretation by the Staff of the SEC which permits the
    exchange notes to be issued in the exchange offer to be offered
    for resale, resold and otherwise transferred by the holders of
    the exchange notes, other than broker-dealers and any holder
    which is an &#147;affiliate&#148; of ours within the meaning of
    Rule&nbsp;405 under the Securities Act, without compliance with
    the registration and prospectus delivery provisions of the
    Securities Act, provided that the exchange notes acquired in the
    exchange offer are acquired in the ordinary course of that
    holder&#146;s business and that holder has no arrangement or
    understanding with any person to participate in the distribution
    of the exchange notes to be issued in the exchange offer.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If any of the above events occur, we may:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">terminate the exchange offer and promptly return
    all tendered original notes to tendering holders;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">complete and/or extend the exchange offer and,
    subject to your withdrawal rights, retain all tendered original
    notes until the extended exchange offer expires;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">amend the terms of the exchange offer; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">waive any unsatisfied condition and, subject to
    any requirement to extend the period of time during which the
    exchange offer is open, complete the exchange offer.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We may assert these conditions with respect to
the exchange offer regardless of the circumstances giving rise
to them. All conditions to the exchange offer, other than those
dependent upon receipt of necessary government approvals, must
be satisfied or waived by us before the expiration of the
exchange offer. We may waive any condition in whole or in part
at any time in our reasonable discretion. Our failure to
exercise our rights under any of the above circumstances does
not represent a waiver of these rights. Each right is an ongoing
right that may be asserted at any time. Any determination by us
concerning the conditions described above will be final and
binding upon all parties.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If a waiver constitutes a material change to the
exchange offer, we will promptly disclose the waiver by means of
a prospectus supplement that we will distribute to the
registered holders of the original notes, and we will extend the
exchange offer for a period of five to ten business days, as
required by applicable law, depending upon the significance of
the waiver and the manner of disclosure to the registered
holders, if the exchange offer would otherwise expire during the
five to ten business day period.
</FONT>

<P align="left">
<B><FONT size="2">Procedures for Tendering</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">To effectively tender original notes by
book-entry transfer to the account maintained by the exchange
agent at DTC, holders of original notes must request a DTC
participant to, on their behalf, in lieu of physically
</FONT>

<P align="center"><FONT size="2">24
</FONT>

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<DIV align="left">
<FONT size="2">completing and signing the letter of transmittal
and delivering it to the exchange agent, electronically transmit
their acceptance through DTC&#146;s Automated Tender Offer
Program (&#147;ATOP&#148;). DTC will then edit and verify the
acceptance and send an agent&#146;s message to the exchange
agent for its acceptance. An &#147;agent&#146;s message&#148; is
a message transmitted by DTC to, and received by, the exchange
agent and forming a part of the Book-Entry Confirmation (as
defined below), which states that DTC has received an express
acknowledgment from the DTC participant tendering original notes
on behalf of the holder of such original notes that such DTC
participant has received and agrees to be bound by the terms and
conditions of the exchange offer as set forth in this prospectus
and the related letter of transmittal and that we may enforce
such agreement against such participant. A timely confirmation
of a book-entry transfer of the original notes into the exchange
agent&#146;s account at DTC (a &#147;Book-Entry
Confirmation&#148;), pursuant to the book-entry transfer
procedures described below, as well as an agent&#146;s message
pursuant to DTC&#146;s ATOP system must be mailed or delivered
to the exchange agent on or prior to 5:00&nbsp;p.m., New York
City time, on the expiration date.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">To effectively tender any original notes held in
physical form, a holder of the original notes must complete,
sign and date the letter of transmittal, or a facsimile thereof,
have the signatures thereon guaranteed if required by the letter
of transmittal, and mail or otherwise deliver such letter of
transmittal or a facsimile thereof, together with the
certificates representing such original notes and any other
required documents, to the exchange agent prior to
5:00&nbsp;p.m., New York City time, on the expiration date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Holders of original notes whose certificates for
original notes are not lost but are not immediately available or
who cannot deliver their certificates and all other documents
required by the letter of transmittal to the exchange agent on
or prior to the expiration date, or who cannot complete the
procedures for book-entry transfer on or prior to the expiration
date, may tender their original notes according to the
guaranteed delivery procedures set forth in
&#147;&#151;&nbsp;Guaranteed Delivery Procedures&#148; below.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The method of delivery of the letter of
transmittal, any required signature guarantees, the original
notes and all other required documents, including delivery of
original notes through DTC, and transmission of an agent&#146;s
message through DTC&#146;s ATOP system, is at the election and
risk of the tendering holders, and the delivery will be deemed
made only when actually received or confirmed by the exchange
agent. If original notes are sent by mail, it is suggested that
the mailing be registered mail, properly insured, with return
receipt requested, made sufficiently in advance of the
expiration date, as desired, to permit delivery to the exchange
agent prior to 5:00&nbsp;p.m. on the expiration date. Holders
tendering original notes through DTC&#146;s ATOP system must
allow sufficient time for completion of the ATOP procedures
during the normal business hours of DTC on such respective date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">No original notes, agent&#146;s messages, letters
of transmittal or other required documents should be sent to us.
Delivery of all original notes, agent&#146;s messages, letters
of transmittal and other documents must be made to the exchange
agent. Holders may also request their respective brokers,
dealers, commercial banks, trust companies or nominees to effect
such tender for such holders.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The tender by a holder of original notes,
including pursuant to the delivery of an agent&#146;s message
through DTC&#146;s ATOP system, will constitute an agreement
between such holder and us in accordance with the terms and
subject to the conditions set forth herein and in the letter of
transmittal.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Holders of original notes registered in the name
of a broker, dealer, commercial bank, trust company or other
nominee who wish to tender must contact such registered holder
promptly and instruct such registered holder how to act on such
non-registered holder&#146;s behalf.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Signatures on a letter of transmittal or a notice
of withdrawal must be guaranteed by a member firm of a
registered national securities exchange or of the National
Association of Securities Dealers, Inc., a commercial bank or
trust company having an office or correspondent in the United
States or an &#147;eligible guarantor institution&#148; within
the meaning of Rule&nbsp;17Ad-15 under the Exchange Act (each an
&#147;eligible
</FONT>

<P align="center"><FONT size="2">25
</FONT>

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<DIV align="left">
<FONT size="2">institution&#148;) unless the original notes
tendered pursuant to the letter of transmittal or a notice of
withdrawal are tendered:
</FONT>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">by a registered holder of original notes who has
    not completed the box entitled &#147;Special Issuance
    Instructions&#148; or &#147;Special Delivery Instructions&#148;
    on the letter of transmittal,&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">for the account of an eligible institution.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If a letter of transmittal is signed by trustees,
executors, administrators, guardians, attorneys-in-fact,
officers of corporations or others acting in a fiduciary or
representative capacity, such person should so indicate when
signing, and, unless waived by us, evidence satisfactory to us
of their authority to so act must be submitted with such letter
of transmittal.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If the letter of transmittal is signed by a
person other than the registered holder, the original notes must
be endorsed or accompanied by a properly completed bond power,
signed by the registered holder as the registered holders&#146;
name appears on the original notes.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All questions as to the validity, form,
eligibility, time of receipt, acceptance and withdrawal of the
tendered original notes will be determined by us in our sole
discretion, which determination will be final and binding. We
reserve the absolute right to reject any and all original notes
not validly tendered or any original notes which, if accepted,
might, in the opinion of our counsel, be unlawful. We also
reserve the absolute right to waive any irregularities or
conditions of tender as to particular original notes. Our
interpretation of the terms and conditions of this exchange
offer, including the letter of transmittal and the instructions
thereto, shall be final and binding on all parties. Unless
waived, any defects or irregularities in connection with tenders
of original notes must be cured within such time as we shall
determine. Although we intend to notify you of defects or
irregularities with respect to tenders of original notes, none
of us, the exchange agent, or any other person shall be under
any duty to give notification of defects or irregularities with
respect to tenders of original notes, nor shall any of them
incur any liability for failure to give such notification.
Tenders of original notes will not be deemed to have been made
until such irregularities have been cured or waived. Any
original notes received by the exchange agent that are not
validly tendered and as to which the defects or irregularities
have not been cured or waived will be returned without cost to
such holder by the exchange agent, unless otherwise provided in
the letter of transmittal, as soon as practicable following the
expiration date of the exchange offer.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Although we have no present plan to acquire any
original notes that are not tendered in the exchange offer or to
file a registration statement to permit resales of any original
notes that are not tendered in the exchange offer, we reserve
the right, in our sole discretion, to purchase or make offers
for any original notes after the expiration date of the exchange
offer, from time to time, through open market or privately
negotiated transactions, one or more additional exchange or
tender offers, or otherwise, as permitted by law, the Indenture
and our other debt agreements. Following consummation of this
exchange offer, the terms of any such purchases or offers could
differ materially from the terms of this exchange offer.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">By tendering, each holder will represent to us
that, among other things:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">it is not an affiliate of ours;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the person acquiring the exchange notes in the
    exchange offer is obtaining them in the ordinary course of its
    business, whether or not such person is the holder,&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">neither the holder nor such other person has any
    arrangement or understanding with any person to participate in
    the distribution of the exchange notes issued in the exchange
    offer.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If any holder or any such other person is an
&#147;affiliate,&#148; as defined under Rule&nbsp;405 of the
Securities Act, of us, or is engaged in or intends to engage in
or has an arrangement or understanding with any person to
participate in a distribution of exchange notes to be acquired
in the exchange offer, that holder or any such other person:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">may not rely on the applicable interpretations of
    the staff of the SEC;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">must comply with the registration and prospectus
    delivery requirements of the Securities Act in connection with
    any resale transaction.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">26
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Each broker-dealer who acquired its original
notes as a result of market-making activities or other trading
activities, and thereafter receives exchange notes issued for
its own account in the exchange offer, must acknowledge that it
will deliver a prospectus in connection with any resale of such
exchange notes issued in the exchange offer. The letter of
transmittal states that by so acknowledging and by delivering a
prospectus, a broker-dealer will not be deemed to admit that it
is an &#147;underwriter&#148; within the meaning of the
Securities Act. See &#147;Plan of Distribution&#148; for a
discussion of the exchange and resale obligations of
broker-dealers in connection with the exchange offer.
</FONT>

<P align="left">
<B><FONT size="2">Acceptance of Original Notes for Exchange;
Delivery of Exchange Notes&nbsp;Issued in the Exchange
Offer</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Upon satisfaction or waiver of all of the
conditions to the exchange offer, we will accept, promptly after
the expiration date, all original notes properly tendered and
not withdrawn, and will issue exchange notes registered under
the Securities Act. For purposes of the exchange offer, we will
be deemed to have accepted properly tendered original notes for
exchange when, as and if we have given oral or written notice to
the exchange agent, with written confirmation of any oral notice
to be given promptly thereafter. See
&#147;&#151;&nbsp;Conditions to the Completion of the Exchange
Offer&#148; for a discussion of the conditions that must be
satisfied before we accept any original notes for exchange.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">For each original note accepted for exchange, the
holder will receive an exchange note registered under the
Securities Act having a principal amount equal to that of the
surrendered original note. As a result, registered holders of
exchange notes issued in the exchange offer on the relevant
record date for the first interest payment date following the
completion of the exchange offer will receive interest accruing
from the most recent date to which interest has been paid or, if
no interest has been paid on the original notes, from
March&nbsp;12, 2004. Original notes that we accept for exchange
will cease to accrue interest from and after the date of
completion of the exchange offer. Under the Registration Rights
Agreement, we may be required to make additional payments in the
form of liquidated damages to the holders of the original notes
under circumstances relating to the timing of the exchange offer.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In all cases, we will issue exchange notes in the
exchange offer for original notes that are accepted for exchange
only after the exchange agent timely receives:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">certificates for such original notes or a
    book-entry confirmation of such original notes into the exchange
    agent&#146;s account at DTC;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">an agent&#146;s message or a properly completed
    and duly executed letter of transmittal; and/or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">any other required documents.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If for any reason set forth in the terms and
conditions of the exchange offer we do not accept any tendered
original notes, or if a holder submits original notes for a
greater principal amount than the holder desires to exchange or
a holder withdraws original notes, we will return such
unaccepted, non-exchanged or withdrawn original note without
cost to the tendering holder. In the case of original notes
tendered by book-entry transfer into the exchange agent&#146;s
account at DTC, such non-exchanged original notes will be
credited to an account maintained with DTC. We will return the
original notes or have them credited to the DTC account as
promptly as practicable after the expiration or termination of
the exchange offer.
</FONT>

<P align="left">
<B><FONT size="2">Book-Entry Transfer</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The exchange agent will establish an account with
respect to the original notes at DTC for purposes of this
exchange offer. Any financial institution that is a participant
in DTC&#146;s ATOP systems may use DTC&#146;s ATOP procedures to
tender original notes. Such participant may make a book-entry
delivery of original notes by causing DTC to transfer such
original notes into the exchange agent&#146;s account at DTC in
accordance with DTC&#146;s procedures for transfer. However,
although delivery of original notes may be effected through a
book-entry transfer at DTC, the letter of transmittal, or
facsimile thereof, with any required signature guarantees, or an
agent&#146;s message pursuant to the ATOP procedures and any
other required documents must, in any case, be transmitted to
and received by the exchange agent at the address set forth in
this prospectus on or prior to the
</FONT>

<P align="center"><FONT size="2">27
</FONT>

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<DIV align="left">
<FONT size="2">expiration date of the exchange offer, or the
guaranteed delivery procedures described below must be complied
with. Delivery of documents to DTC will not constitute valid
delivery to the exchange agent.
</FONT>
</DIV>

<P align="left">
<B><FONT size="2">Guaranteed Delivery Procedures</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If your certificates for original notes are not
lost but are not immediately available or you cannot deliver
your certificates and any other required documents to the
exchange agent on or prior to the expiration date, or you cannot
complete the procedures for book-entry transfer on or prior to
the expiration date, you may nevertheless effect a tender of
your original notes if:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the tender is made through an eligible
    institution;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">prior to the expiration date of the exchange
    offer, the exchange agent receives by facsimile transmission,
    mail or hand delivery from such eligible institution a validly
    completed and duly executed notice of guaranteed delivery,
    substantially in the form provided with this prospectus, or an
    agent&#146;s message with respect to guaranteed delivery which:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">sets forth your name and address and the amount
    of your original notes tendered;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">states that the tender is being made
    thereby;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">guarantees that within three New York Stock
    Exchange trading days after the expiration date, the
    certificates for all physically tendered original notes, in
    proper form for transfer, or a book-entry confirmation, as the
    case may be, and any other documents required by the letter of
    transmittal will be deposited by the eligible institution with
    the exchange agent;&nbsp;and
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the certificates for all physically tendered
    original notes, in proper form for transfer, or a book-entry
    confirmation, as the case may be, and all other documents
    required by the letter of transmittal are received by the
    exchange agent within three New York Stock Exchange trading days
    after the expiration date.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<B><FONT size="2">Withdrawal of Tenders</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Tenders of original notes may be properly
withdrawn at any time prior to 5:00&nbsp;p.m., New York City
time, on the expiration date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">For a withdrawal of a tender to be effective, a
written notice of withdrawal delivered by hand, overnight by
courier or by mail, or a manually signed facsimile transmission,
or a properly transmitted &#147;Request Message&#148; through
DTC&#146;s ATOP system, must be received by the exchange agent
prior to 5:00&nbsp;p.m., New York City time, on the expiration
date. Any such notice of withdrawal must:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">specify the name of the person that tendered the
    original notes to be properly withdrawn;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">identify the original notes to be properly
    withdrawn, including the principal amount of such original notes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">in the case of original notes tendered by
    book-entry transfer, specify the number of the account at DTC
    from which the original notes were tendered and specify the name
    and number of the account at DTC to be credited with the
    properly withdrawn original notes and otherwise comply with the
    procedures of such facility;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">contain a statement that such holder is
    withdrawing its election to have such original notes exchanged
    for exchange notes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">other than a notice transmitted through
    DTC&#146;s ATOP system, be signed by the holder in the same
    manner as the original signature on the letter of transmittal by
    which such original notes were tendered, including any required
    signature guarantees, or be accompanied by documents of transfer
    to have the trustee with respect to the original notes register
    the transfer of such original notes in the name of the person
    withdrawing the tender;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">specify the name in which such original notes are
    registered, if different from the person who tendered such
    original notes.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">28
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All questions as to the validity, form,
eligibility and time of receipt of such notice will be
determined by us, and our determination shall be final and
binding on all parties. Any original notes so properly withdrawn
will be deemed not to have been validly tendered for exchange
for purposes of this exchange offer. No exchange notes will be
issued with respect to any withdrawn original notes unless the
original notes so withdrawn are later tendered in a valid
fashion. Any original notes that have been tendered for exchange
but are not exchanged for any reason will be returned to the
tendering holder thereof without cost to such holder, or, in the
case of original notes tendered by book-entry transfer into the
exchange agent&#146;s account at DTC pursuant to the book-entry
transfer procedures described above, such original notes will be
credited to an account maintained with DTC for the original
notes as soon as practicable after withdrawal, rejection of
tender or termination of the exchange offer. Properly withdrawn
original notes may be retendered by following the procedures
described above at any time on or prior to the expiration date
of the exchange offer.
</FONT>

<P align="left">
<B><FONT size="2">Exchange Agent</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Wells Fargo Bank, National Association has been
appointed as exchange agent for this exchange offer. Letters of
transmittal, agent&#146;s messages or request messages through
DTC&#146;s ATOP system, notices of guaranteed delivery and all
correspondence in connection with this exchange offer should be
sent or delivered by each holder of original notes or a
beneficial owner&#146;s broker, dealer, commercial bank, trust
company or other nominee to the exchange agent at the following
address: Wells Fargo Bank, National Association, Corporate Trust
Operations, MAC N9303-121, Sixth Street and Marquette Avenue,
Minneapolis, MN 55479, Attention: Joe Taffe, telephone:
(612)&nbsp;316-4305, facsimile: (612)&nbsp;667-6961. We will pay
the exchange agent reasonable and customary fees for its
services and will reimburse it for its reasonable out-of-pocket
expenses in connection therewith. Delivery or facsimile to a
party other than the exchange agent will not constitute valid
delivery.
</FONT>

<P align="left">
<B><FONT size="2">Fees and Expenses</FONT></B>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>We Will Bear
The Expenses Of Soliciting Tenders. The Principal Solicitation
Is Being Made by Mail; However, We May Make Additional
Solicitation By Facsimile, Email, Telephone Or In Person By Our
Officers And Regular Employees And Those Of Our
Affiliates.</I></FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We have not retained any dealer-manager in
connection with the exchange offer and will not make any
payments to broker-dealers or others soliciting acceptances of
the exchange offer. We will, however, pay the exchange agent
reasonable and customary fees for its services and reimburse it
for its related reasonable out-of-pocket expenses. We may also
pay brokerage houses and other custodians, nominees and
fiduciaries the reasonable out-of-pocket expenses incurred by
them in forwarding copies of this prospectus, letters of
transmittal and related documents to the beneficial owners of
the original notes and in handling or forwarding tenders for
exchange.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We will pay the cash expenses to be incurred in
connection with the exchange offer. They include:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">SEC registration fees for the exchange notes,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">fees and expenses of the exchange agent and the
    Trustee,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">accounting and legal fees,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">printing costs,&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">related fees and expenses.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<B><FONT size="2">Transfer Taxes</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If you tender your original notes for exchange,
you will not be required to pay any transfer taxes. We will pay
all transfer taxes, if any, applicable to the exchange of
original notes in the exchange offer. The tendering
</FONT>

<P align="center"><FONT size="2">29
</FONT>
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<DIV align="left">
<FONT size="2">holder will, however, be required to pay any
transfer taxes, whether imposed on the registered holder or any
other person, if:
</FONT>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">certificates representing exchange notes or
    original notes for principal amounts not tendered or accepted
    for exchange are to be delivered to, or are to be issued in the
    name of, any person other than the registered holder of the
    original notes tendered,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">tendered original notes are registered in the
    name of any person other than the person signing the letter of
    transmittal,&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">a transfer tax is imposed for any reason other
    than the exchange of original notes for exchange notes in the
    exchange offer.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If satisfactory evidence of payment of any
transfer taxes payable by a tendering holder is not submitted
with the letter of transmittal, the amount of such transfer
taxes will be billed directly to that tendering holder. The
exchange agent will retain possession of exchange notes with a
face amount equal to the amount of the transfer taxes due until
it receives payment of the taxes.
</FONT>

<P align="left">
<B><FONT size="2">Consequences of Failure to Exchange</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Holders who desire to tender their original notes
in exchange for exchange notes registered under the Securities
Act should allow sufficient time to ensure timely delivery.
Neither the exchange agent nor us is under any duty to give
notification of defects or irregularities with respect to the
tenders of original notes for exchange.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Original notes that are not tendered or are
tendered but not accepted will, following the completion of the
exchange offer, continue to be subject to the provisions in the
Indenture regarding the transfer and exchange of the original
notes and the existing restrictions on transfer set forth in the
legend on the original notes set forth in the Indenture for the
notes. Except in limited circumstances with respect to specific
types of holders of original notes, we will have no further
obligation to provide for the registration under the Securities
Act of such original notes. In general, original notes, unless
registered under the Securities Act, may not be offered or sold
except pursuant to an exemption from, or in a transaction not
subject to, the Securities Act and applicable state securities
laws.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We do not currently anticipate that we will take
any action to register the original notes under the Securities
Act or under any state securities laws. Upon completion of the
exchange offer, holders of the original notes will not be
entitled to any further registration rights under the
Registration Rights Agreement, except under limited
circumstances.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Holders of the exchange notes issued in the
exchange offer and any original notes which remain outstanding
after completion of the exchange offer will vote together as a
single class for purposes of determining whether holders of the
requisite percentage of the class have taken certain actions or
exercised certain rights under the Indenture.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The tender of original notes in the exchange
offer will reduce the outstanding principal amount of the
original notes. Due to the corresponding reduction in liquidity,
this may have an adverse effect on, and increase the volatility
of, the market price of any original notes that you continue to
hold.
</FONT>

<P align="left">
<B><FONT size="2">Other</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Participation in the exchange offer is voluntary,
and you should carefully consider whether to accept. You are
urged to consult your financial and tax advisors in making your
decision on what action to take. In the future, we may seek to
acquire untendered original notes in open market or privately
negotiated transactions, through subsequent exchange offers or
otherwise. We have no present plan to acquire any original notes
that are not tendered in the exchange offer or to file a
registration statement to permit resales of any untendered
original notes, except as required by the Registration Rights
Agreement.
</FONT>

<P align="center"><FONT size="2">30
</FONT>

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<DIV align="left">
<A name='110'></A>
</DIV>

<!-- link1 "DESCRIPTION OF THE NOTES" -->

<P align="center">
<B><FONT size="2">DESCRIPTION OF THE NOTES</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">You can find the definitions of certain terms
used in this description under the caption
&#147;&#151;&nbsp;Certain Definitions.&#148; In this
description, the word &#147;Amkor&#148; refers only to Amkor
Technology, Inc. and not to any of its Subsidiaries and the term
&#147;Notes&#148; refers to both the original notes and the
exchange notes.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor will issue the exchange notes under the
Indenture (the &#147;Indenture&#148;) between itself and Wells
Fargo Bank, National Association, as trustee (the
&#147;Trustee&#148;). The terms of the Notes include those
stated in the Indenture and those made part of the Indenture by
reference to the Trust Indenture Act of 1939.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following description is a summary of the
material provisions of the Indenture. It does not restate that
agreement in its entirety. We urge you to read the Indenture
because it, and not this description, defines your rights as
holders of the Notes. Copies of the Indenture are available as
described below under the caption &#147;Available
Information.&#148;
</FONT>

<P align="left">
<B><FONT size="2">Ranking</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Notes are:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">general obligations of Amkor;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">effectively subordinated in right of payment to
    existing and future secured debt, if any, including our
    obligations under our secured bank facilities, to the extent of
    such security, and to all existing and future debt and other
    liabilities of our subsidiaries, including trade payables;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">equal in right of payment with all our existing
    and future unsecured senior debt, including our
    9.25%&nbsp;senior notes due February&nbsp;15, 2008 and our
    7.75%&nbsp;senior notes due May&nbsp;15, 2013;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">senior in right of payment to all our existing
    and future debt that expressly provides that it is subordinated
    to the Notes, including our 10.50%&nbsp;senior subordinated
    notes due 2009, our 5.75%&nbsp;convertible subordinated notes
    due 2006 and our 5.00%&nbsp;convertible subordinated notes due
    2007.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Notes are &#147;Designated Senior Debt&#148;
for purposes of the indentures governing our 10.50%&nbsp;senior
subordinated notes due 2009, our 5.75%&nbsp;convertible
subordinated notes due 2006 and our 5.00%&nbsp;convertible
subordinated notes due 2007.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">As of March&nbsp;31, 2004, Amkor had total senior
secured debt of $1.6&nbsp;million. In addition, our subsidiaries
had total liabilities of approximately $381.0&nbsp;million,
including trade payables but excluding intercompany obligations.
The indenture will permit us to incur additional senior secured
debt and subsidiary indebtedness subject to certain restrictions
as outlined in the indenture. See &#147;&#151;&nbsp;Incurrence
of Indebtedness and Issuance of Preferred Stock&#148; beginning
on page&nbsp;37.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We conduct a large portion of our operations
through our Subsidiaries. Accordingly, our ability to meet our
cash obligations is dependent upon the ability of our
Subsidiaries to make cash payments to us. Payments from our
Subsidiaries are expected to be a large source of funds for
payment of interest on the Notes. The claims of creditors
(including trade creditors) of any Subsidiary will generally
have priority as to the assets of such Subsidiary over the
claims of the holders of the Notes. In the event of a
liquidation of any of our Subsidiaries, our right to receive the
assets of any such Subsidiary (and the resulting right of the
holders of the Notes to participate in the distribution of the
proceeds of those assets) will effectively be subordinated by
operation of law to the claims of creditors (including trade
creditors) of such Subsidiary and holders of such
Subsidiary&#146;s preferred stock and any Guarantees by such
Subsidiary of Indebtedness of Amkor. If Amkor were a creditor of
such Subsidiary or a holder of its preferred stock, we would be
entitled to participate in the distribution of the proceeds of
such Subsidiary&#146;s assets. Our claims would, however, remain
subordinate to any Indebtedness or preferred stock of such
Subsidiary that is senior in right of payment to the
Indebtedness or preferred stock held by us. In the event of the
liquidation, bankruptcy, reorganization, insolvency,
receivership or similar proceeding or any assignment for the
benefit of our creditors or a marshaling of our assets or
liabilities, holders of the Notes may receive ratably less than
other such creditors or interest holders.
</FONT>

<P align="center"><FONT size="2">31
</FONT>
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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">As of the date of the Indenture, all our
Subsidiaries were &#147;Restricted Subsidiaries.&#148; However,
under the circumstances described below under the caption
&#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Designation of
Restricted and Unrestricted Subsidiaries,&#148; we will be
permitted to designate certain of our Subsidiaries as
&#147;Unrestricted Subsidiaries.&#148; Unrestricted Subsidiaries
will not be subject to many of the restrictive covenants in the
Indenture.
</FONT>

<P align="left">
<B><FONT size="2">Principal, Maturity and Interest</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Notes will mature on March&nbsp;15, 2011.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Interest on the Notes will accrue at the rate of
7&nbsp;1/8%&nbsp;per annum and will be payable semiannually in
arrears on March&nbsp;15 and September&nbsp;15, commencing on
September&nbsp;15, 2004. Amkor will make each interest payment
to the holders of record of the Notes on the immediately
preceding March&nbsp;1 and September&nbsp;1.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Interest on the Notes will accrue from the date
of original issuance or, if interest has already been paid, from
the date it was most recently paid. Interest will be computed on
the basis of a 360-day year comprised of twelve 30-day months.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The interest rate on the Notes is subject to
increase if Amkor does not file a registration statement
relating to the exchange offer on a timely basis, if the
registration statement is not declared effective on a timely
basis or if certain other conditions are not satisfied, all as
further described under the caption
&#147;&#151;&nbsp;Registration Rights; Liquidated Damages.&#148;
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All references to interest on the Notes include
any such Liquidated Damages that may be payable. Amkor will
issue Notes in denominations of $1,000 and integral multiples of
$1,000.
</FONT>

<P align="left">
<B><FONT size="2">Optional Redemption</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Except as set forth below, the Notes will not be
redeemable at the option of Amkor prior to March&nbsp;15, 2011.
The Notes are subject to redemption upon not less than 30 nor
more than 60&nbsp;days&#146; notice by mail, as a whole or in
part, at the election of Amkor, at a price equal to the sum of
(i)&nbsp;100% of the principal amount thereof plus accrued
interest to the redemption date plus (ii)&nbsp;the Make-Whole
Amount, if any.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">At any time, and from time to time, prior to
March&nbsp;15, 2007, Amkor may redeem up to a maximum of 35% of
the aggregate principal amount of the Notes with the proceeds of
one or more Equity Offerings at a redemption price (expressed as
a percentage of the principal amount) equal to 107.125% of the
principal amount thereof, plus accrued and unpaid interest to
the redemption date (subject to the rights of holders of record
on the relevant record date to receive interest due on the
relevant interest payment date); provided, however, that after
giving effect to any such redemption at least 65% of the
original aggregate principal amount of the Notes (excluding
Notes held by Amkor and its Subsidiaries) remains outstanding.
The redemption must occur within 45&nbsp;days of the date of the
closing of such Equity Offering.
</FONT>

<P align="left">
<B><FONT size="2">Repurchase at the Option of Holders</FONT></B>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Offer to
Repurchase Upon Change of Control</I></FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If a Change of Control occurs, each holder of the
Notes will have the right to require Amkor to repurchase all or
any part (equal to $1,000 or an integral multiple thereof) of
that holder&#146;s Notes pursuant to an offer made by Amkor (the
&#147;Change of Control Offer&#148;). In the Change of Control
Offer, Amkor will offer to make a payment (the &#147;Change of
Control Payment&#148; in cash equal to 101% of the aggregate
principal amount of Notes repurchased, plus accrued and unpaid
interest thereon and Liquidated Damages, if any, to the date of
purchase. Within 30&nbsp;days following any Change of Control,
Amkor will mail a notice to each holder of the Notes describing
the transaction or transactions that constitute the Change of
Control and offering to repurchase Notes on the date specified
in such notice (the &#147;Change of Control Payment Date&#148;),
pursuant to the procedures required by the Indenture and
described in such notice. Amkor will comply with the
requirements of Rule&nbsp;14e-1 under the Exchange Act and any
other securities laws and regulations
</FONT>

<P align="center"><FONT size="2">32
</FONT>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2">thereunder to the extent such laws and
regulations are applicable in connection with the repurchase of
the Notes as a result of a Change of Control.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On the Change of Control Payment Date, Amkor
will, to the extent lawful:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;accept for payment all Notes or portions
    thereof properly tendered pursuant to the Change of Control
    Offer;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;deposit with the Paying Agent an amount
    equal to the Change of Control Payment in respect of all Notes
    or portions thereof so tendered;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;deliver or cause to be delivered to the
    Trustee the Notes so accepted together with an Officers&#146;
    Certificate stating the aggregate principal amount of Notes or
    portions thereof being purchased by Amkor.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Paying Agent will promptly mail to each
holder of the Notes so tendered the Change of Control Payment
for such Notes, and the Trustee will promptly authenticate and
mail (or cause to be transferred by book entry) to each holder a
new Note equal in principal amount to any unpurchased portion of
the Notes surrendered, if any; provided that each such new Note
will be in a principal amount of $1,000 or an integral multiple
thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor will publicly announce the results of the
Change of Control Offer on or as soon as practicable after the
Change of Control Payment Date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The provisions described above that require Amkor
to make a Change of Control Offer following a Change of Control
will be applicable regardless of whether or not any other
provisions of the Indenture are applicable. Except as described
above with respect to a Change of Control, the Indenture does
not contain provisions that permit the holders of the Notes to
require that Amkor repurchase or redeem the Notes in the event
of a takeover, recapitalization or similar transaction.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor will not be required to make a Change of
Control Offer upon a Change of Control if a third party makes
the Change of Control Offer in the manner, at the times and
otherwise in compliance with the requirements set forth in the
Indenture applicable to a Change of Control Offer made by Amkor
and purchases all Notes validly tendered and not withdrawn under
such Change of Control Offer.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The definition of Change of Control includes a
phrase relating to the sale, lease, transfer, conveyance or
other disposition of &#147;all or substantially all&#148; of the
assets of Amkor and its Subsidiaries taken as a whole. Although
there is a limited body of case law interpreting the phrase
&#147;substantially all,&#148; there is no precise established
definition of the phrase under applicable law. Accordingly, the
ability of a holder of the Notes to require Amkor to repurchase
such Notes as a result of a sale, lease, transfer, conveyance or
other disposition of less than all the assets of Amkor and its
Subsidiaries taken as a whole to another Person or group may be
uncertain.
</FONT>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Offer to
Repurchase by Application of Excess Proceeds of Asset
Sales</I></FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor will not, and will not permit any of its
Restricted Subsidiaries to, consummate an Asset Sale unless:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;Amkor (or the Restricted Subsidiary, as
    the case may be) receives consideration at the time of such
    Asset Sale at least equal to the fair market value of the assets
    or Equity Interests issued or sold or otherwise disposed of;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;such fair market value is determined by
    the Board of Directors; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;at least 75% of the consideration
    therefor received by Amkor or such Restricted Subsidiary is in
    the form of cash or other Qualified Proceeds.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">33
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Within 365&nbsp;days after the receipt of any Net
Proceeds from an Asset Sale, Amkor may apply such Net Proceeds
at its option:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;to repay Permitted Bank Debt, and if
    such Permitted Bank Debt is revolving debt, to effect a
    corresponding commitment reduction thereunder;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;to acquire all or substantially all the
    assets of, or a majority of the Voting Stock of, another
    Permitted Business;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;to make a capital expenditure;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;to acquire any other long-term assets
    that are used or useful in a Permitted Business.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Pending the final application of any such Net
Proceeds, Amkor may temporarily reduce revolving credit
borrowings or otherwise invest such Net Proceeds in any manner
that is not prohibited by the Indenture.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Any Net Proceeds from any Asset Sale that are not
applied or invested as provided in the preceding paragraph
within 365&nbsp;days of such Asset Sale will constitute
&#147;Excess Proceeds.&#148; When the aggregate amount of Excess
Proceeds exceeds $10.0&nbsp;million, Amkor will make an offer
(the &#147;Asset Sale Offer&#148;) to all holders of the Notes
and all holders of other Indebtedness that is pari passu with
the Notes containing provisions similar to those set forth in
the Indenture with respect to offers to purchase or redeem with
the proceeds of sales of assets to purchase the maximum
principal amount of Notes and such other pari passu Indebtedness
that may be purchased out of the Excess Proceeds. The offer
price in any Asset Sale Offer will be equal to 100.0% of
principal amount plus accrued and unpaid interest, if any, to
the date of purchase, and will be payable in cash. If any Excess
Proceeds remain after consummation of an Asset Sale Offer, Amkor
may use such Excess Proceeds for any purpose not otherwise
prohibited by the Indenture. If the aggregate principal amount
of Notes and such other pari passu Indebtedness tendered into
such Asset Sale Offer exceeds the amount of Excess Proceeds, the
Trustee shall select the Notes and such other pari passu
Indebtedness to be purchased on a pro rata basis. Upon
completion of each Asset Sale Offer, the amount of Excess
Proceeds shall be reset at zero.
</FONT>

<P align="left">
<B><FONT size="2">Certain Covenants</FONT></B>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Restricted
Payments</I></FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor will not, and will not permit any of its
Restricted Subsidiaries to, directly or indirectly:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;declare or pay any dividend or make any
    other payment or distribution on account of Amkor&#146;s or any
    of its Restricted Subsidiaries&#146; Equity Interests
    (including, without limitation, any payment in connection with
    any merger or consolidation involving Amkor or any of its
    Restricted Subsidiaries) or to the direct or indirect holders of
    Amkor&#146;s or any of its Restricted Subsidiaries&#146; Equity
    Interests in their capacity as such (other than dividends or
    distributions payable in Equity Interests (other than
    Disqualified Stock) of Amkor or to Amkor or a Restricted
    Subsidiary of Amkor);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;purchase, redeem or otherwise acquire or
    retire for value (including, without limitation, in connection
    with any merger or consolidation involving Amkor) any Equity
    Interests of Amkor or any direct or indirect parent of Amkor or
    any Restricted Subsidiary of Amkor (other than any such Equity
    Interests owned by Amkor or any Restricted Subsidiary of Amkor);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;make any payment on or with respect to,
    or purchase, redeem, defease or otherwise acquire or retire for
    value any Indebtedness that is subordinated to the Notes, except
    a payment of interest or principal at the Stated Maturity
    thereof;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;make any Restricted Investment (all such
    payments and other actions set forth in clauses&nbsp;(1) through
    (4)&nbsp;above being collectively referred to as
    &#147;Restricted Payments&#148;),
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">unless, at the time of and after giving effect to
such Restricted Payment:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;no Default or Event of Default shall
    have occurred and be continuing or would occur as a consequence
    thereof;
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">34
</FONT>

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<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;Amkor would, at the time of such
    Restricted Payment and after giving pro forma effect thereto as
    if such Restricted Payment had been made at the beginning of the
    applicable four-quarter period, have been permitted to incur at
    least $1.00 of additional Indebtedness pursuant to the
    Consolidated Interest Expense Coverage Ratio test set forth in
    the first paragraph of the covenant described below under the
    caption &#147;&#151;&nbsp;Certain Covenants&nbsp;&#151;
    Incurrence of Indebtedness and Issuance of Preferred
    Stock&#148;;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;such Restricted Payment, together with
    the aggregate amount of all other Restricted Payments made by
    Amkor and its Restricted Subsidiaries after the Issue Date
    (excluding Restricted Payments permitted by clauses&nbsp;(2),
    (3), (4), (7)&nbsp;and (9)&nbsp;of the next succeeding
    paragraph), is less than the sum, without duplication, of:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(a)&nbsp;50% of the Consolidated Net Income of
    Amkor for the period (taken as one accounting period) from the
    beginning of the fiscal quarter commencing on April&nbsp;1, 2003
    to the end of Amkor&#146;s most recently ended fiscal quarter
    for which internal financial statements are available at the
    time of such Restricted Payment (or, if such Consolidated Net
    Income for such period is a deficit, less 100% of such deficit),
    plus
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(b)&nbsp;100% of the aggregate net cash proceeds
    received by Amkor since the Issue Date as a contribution to its
    common equity capital or from the issue or sale of Equity
    Interests of Amkor (other than Disqualified Stock) (other than
    Equity Interests (or Disqualified Stock or debt securities) sold
    to a Subsidiary of Amkor), plus
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(c)&nbsp;to the extent that any Restricted
    Investment that was made after the Issue Date is sold for cash
    or otherwise liquidated or repaid for cash, the lesser of
    (i)&nbsp;the cash return of capital with respect to such
    Restricted Investment (less the cost of disposition, if any) and
    (ii)&nbsp;the initial amount of such Restricted Investment, plus
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(d)&nbsp;the amount by which
    (i)&nbsp;Indebtedness (other than Disqualified Stock) of Amkor
    or any Restricted Subsidiary issued after the Issue Date is
    reduced on Amkor&#146;s consolidated balance sheet (if prepared
    in accordance with GAAP as of the date of determination) and
    (ii)&nbsp;Disqualified Stock of Amkor issued after the Issue
    Date (held by any Person other than any Restricted Subsidiary)
    is reduced (measured with reference to its redemption or
    repurchase price), in each case, as a result of the conversion
    or exchange of any such Indebtedness or Disqualified Stock into
    Equity Interests (other than Disqualified Stock) of Amkor, less,
    in each case, any cash distributed by Amkor upon such conversion
    or exchange, plus
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(e)&nbsp;to the extent that any Investment in any
    Unrestricted Subsidiary that was made after the Issue Date is
    sold for cash or otherwise liquidated, repaid for cash or such
    Unrestricted Subsidiary is converted into a Restricted
    Subsidiary, the lesser of (i)&nbsp;an amount equal to the sum of
    (A) the net reduction in Investments in Unrestricted
    Subsidiaries resulting from dividends, repayments of loans or
    advances or other transfers of assets, in each case to Amkor or
    any Restricted Subsidiary from Unrestricted Subsidiaries, and
    (B) the fair market value of the net assets of an Unrestricted
    Subsidiary at the time such Unrestricted Subsidiary is
    designated a Restricted Subsidiary, and (ii)&nbsp;the remaining
    amount of the Investment in such Unrestricted Subsidiary which
    has not been repaid or converted into cash or assets.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The preceding provisions will not prohibit:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;the payment of any dividend within
    60&nbsp;days after the date of declaration thereof, if at the
    date of declaration no Default has occurred and is continuing or
    would be caused thereby and such payment would have complied
    with the provisions of the Indenture;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;the making of any payment on or with
    respect to, or in connection with, the redemption, repurchase,
    retirement, defeasance or other acquisition of, any Indebtedness
    of Amkor or any Restricted Subsidiary that is subordinated to
    the Notes or of any Equity Interests of Amkor or any Restricted
    Subsidiary in exchange for, or out of the net cash proceeds of
    the substantially concurrent sale (other than to a Subsidiary of
    Amkor) of, Equity Interests (other than Disqualified Stock) of
    Amkor or any
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">35
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">subordinated Indebtedness of Amkor; provided that
    the amount of any such net cash proceeds that are utilized for
    any such redemption, repurchase, retirement, defeasance or other
    acquisition shall be excluded from clause&nbsp;(3)(b) of the
    preceding paragraph;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;the making of any payment on or with
    respect to, or in connection with, the defeasance, redemption,
    repurchase or other acquisition of Indebtedness of Amkor or any
    Restricted Subsidiary that is subordinated to the Notes with the
    net cash proceeds from the incurrence of Permitted Refinancing
    Indebtedness;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;the payment of any dividend by a
    Restricted Subsidiary of Amkor to the holders of its common
    Capital Stock on a pro rata basis;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;so long as no Default has occurred and
    is continuing or would be caused thereby, the repurchase,
    redemption or other acquisition or retirement for value of any
    Equity Interests of Amkor or any Restricted Subsidiary of Amkor
    held by any employee of Amkor or any Restricted Subsidiary
    pursuant to any employee equity subscription agreement, stock
    ownership plan or stock option agreement in effect from time to
    time; provided that the aggregate price paid for all such
    repurchased, redeemed, acquired or retired Equity Interests
    shall not exceed $2.0&nbsp;million in any twelve-month period
    and $10.0&nbsp;million in the aggregate;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(6)&nbsp;the making of any payment on or with
    respect to, or repurchase, redemption, defeasance or other
    acquisition or retirement for value of the
    5.75%&nbsp;subordinated convertible notes due 2006 or the
    5.00%&nbsp;subordinated convertible notes due 2007 in connection
    with (i)&nbsp;so long as no Event of Default has occurred and is
    continuing or would be caused thereby, an optional redemption of
    such convertible notes on or after the dates such notes become
    redeemable, or (ii)&nbsp;the honoring by Amkor of any conversion
    request into Capital Stock (other than Disqualified Stock) by a
    holder of either such convertible notes or any future
    convertible notes of Amkor (including the payment by Amkor of
    any cash in lieu of fractional shares) in accordance with their
    terms;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(7)&nbsp;that portion of Investments the payment
    for which consists exclusively of Equity Interests (other than
    Disqualified Stock) of Amkor;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(8)&nbsp;so long as no Default has occurred and
    is continuing or would be caused thereby, other Restricted
    Payments in an aggregate amount not to exceed $75.0&nbsp;million;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(9)&nbsp;the repurchase of Equity Interests of
    Amkor that may be deemed to occur upon the exercise of stock
    options if such Equity Interests represent a portion of the
    exercise price thereof;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(10)&nbsp;any payments to one or more
    stockholders of Amkor in connection with settling stockholder
    obligations for income taxes in respect of tax periods ending
    prior to the conversion of Amkor from &#147;S&#148; corporation
    status to &#147;C&#148; corporation status;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(11)&nbsp;in the case of an Asset Sale, any Asset
    Sale Offer after Amkor has complied with its obligations to the
    holders of the Notes under the &#147;Asset Sale&#148; covenant
    contained in the Indenture;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(12)&nbsp;in the case of a Change of Control, any
    Change of Control Offer to repurchase the senior subordinated
    notes after Amkor has complied with its obligations to the
    holders of the Notes under the &#147;Change of Control&#148;
    covenant contained in the Indenture.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The amount of all Restricted Payments (other than
cash) shall be the fair market value on the date of the
Restricted Payment of the assets or securities proposed to be
transferred or issued by Amkor or such Restricted Subsidiary, as
the case may be, pursuant to the Restricted Payment. The fair
market value of any assets or securities that are required to be
valued by this covenant with a fair market value in excess of
$1.0&nbsp;million but less than $5.0&nbsp;million shall be
evidenced by an Officer&#146;s Certificate which shall be
delivered to the Trustee. The fair market value of any assets or
securities that are required to be valued by this covenant with
a fair market value in excess of $5.0&nbsp;million shall be
determined by the Board of Directors whose resolution with
respect thereto shall be delivered to the Trustee.
</FONT>

<P align="center"><FONT size="2">36
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<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Incurrence of
Indebtedness and Issuance of Preferred Stock</I></FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor will not, and will not permit any of its
Restricted Subsidiaries to, directly or indirectly, create,
incur, issue, assume, guarantee or otherwise become directly or
indirectly liable, contingently or otherwise, with respect to
(collectively, &#147;incur&#148;) any Indebtedness (including
Acquired Debt), and Amkor will not issue any Disqualified Stock
and will not permit any of its Restricted Subsidiaries to issue
any shares of preferred stock; provided, however, that Amkor and
any Restricted Subsidiary that is a Guarantor may incur
Indebtedness (including Acquired Debt), and Amkor may issue
Disqualified Stock, and any Restricted Subsidiary that is a
Guarantor may issue preferred stock, if the Consolidated
Interest Expense Coverage Ratio for Amkor&#146;s most recently
ended four full fiscal quarters for which internal financial
statements are available immediately preceding the date on which
such additional Indebtedness is incurred or such Disqualified
Stock or preferred stock is issued would have been at least 2.0
to 1, determined on a pro forma basis (including a pro forma
application of the net proceeds therefrom), as if the additional
Indebtedness had been incurred, or the Disqualified Stock or
preferred stock had been issued, as the case may be, at the
beginning of such four-quarter period.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The first paragraph of this covenant will not
prohibit the incurrence of any of the following items of
Indebtedness (collectively, &#147;Permitted Debt&#148;):
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;the incurrence by Amkor and any
    Restricted Subsidiary of any Permitted Bank Debt; provided that
    the aggregate principal amount of all Permitted Bank Debt at any
    one time outstanding shall not exceed $100.0&nbsp;million plus
    85% of the consolidated accounts receivable of Amkor plus 50% of
    the consolidated inventory of Amkor;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;the incurrence by Amkor and its
    Subsidiaries of Existing Indebtedness;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;the incurrence by Amkor and any
    Guarantor of Indebtedness represented by the Notes, and any
    Subsidiary Guarantees;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;the incurrence by Amkor or any of its
    Restricted Subsidiaries of (a)&nbsp;Indebtedness incurred for
    the purpose of financing all or any part of the purchase price
    or cost of construction or improvement of property, plant or
    equipment used in the business of Amkor or such Restricted
    Subsidiary and (b)&nbsp;Capital Lease Obligations, in an
    aggregate amount at any time outstanding, including all
    Permitted Refinancing Indebtedness incurred to refund, refinance
    or replace any Indebtedness incurred pursuant to this
    clause&nbsp;(4), not to exceed the greater of $75.0&nbsp;million
    and 10% of Amkor&#146;s Consolidated Net Assets;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;the incurrence by Amkor or any of its
    Restricted Subsidiaries of Permitted Refinancing Indebtedness in
    exchange for, or the net proceeds of which are used to refund,
    refinance or replace Indebtedness (other than intercompany
    Indebtedness) that was permitted by the Indenture to be incurred
    under the first paragraph of this covenant or clause&nbsp;(2),
    (3), (5), (13)&nbsp;or (14)&nbsp;of this paragraph;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(6)&nbsp;the incurrence by Amkor or any of its
    Restricted Subsidiaries of intercompany Indebtedness between or
    among Amkor and any of its Restricted Subsidiaries; provided,
    however, that:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(a)&nbsp;if Amkor or any Guarantor is the obligor
    on such Indebtedness and such Indebtedness is in favor of a
    Restricted Subsidiary other than a Wholly Owned Restricted
    Subsidiary, such Indebtedness must be expressly subordinated to
    the prior payment in full in cash of all Obligations with
    respect to the Notes, in the case of Amkor, or the Subsidiary
    Guarantee, in the case of a Guarantor;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(b)&nbsp;(i)&nbsp;any subsequent issuance or
    transfer of Equity Interests that results in any such
    Indebtedness being held by a Person other than Amkor or a Wholly
    Owned Restricted Subsidiary thereof and (ii)&nbsp;any sale or
    other transfer of any such Indebtedness to a Person that is not
    either Amkor or a Wholly Owned Restricted Subsidiary thereof
    shall be deemed, in each case, to constitute an incurrence of
    such Indebtedness by Amkor or such Restricted Subsidiary, as the
    case may be, that was not permitted by this clause&nbsp;(6);
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">37
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<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(7)&nbsp;the incurrence by Amkor or any of its
    Restricted Subsidiaries of Hedging Obligations that are incurred
    for the purpose of fixing or hedging interest rate, commodity or
    currency risk in the ordinary course of business for bona fide
    hedging purposes; provided that the notional principal amount of
    any such Hedging Obligation with respect to interest rates does
    not exceed the amount of Indebtedness or other liability to
    which such Hedging Obligation relates;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(8)&nbsp;the Guarantee by Amkor or any of the
    Guarantors of Indebtedness of Amkor or a Restricted Subsidiary
    of Amkor that was permitted to be incurred by another provision
    of this covenant;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(9)&nbsp;the incurrence by Amkor&#146;s
    Unrestricted Subsidiaries of Non-Recourse Debt; provided,
    however, that if any such Indebtedness ceases to be Non-Recourse
    Debt of an Unrestricted Subsidiary, such event shall be deemed
    to constitute an incurrence of Indebtedness by a Restricted
    Subsidiary of Amkor that was not permitted by this
    clause&nbsp;(9);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(10)&nbsp;the incurrence of Indebtedness solely
    in respect of performance, surety and similar bonds or
    completion or performance Guarantees, to the extent that such
    incurrence does not result in the incurrence of any obligation
    for the payment of borrowed money to others;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(11)&nbsp;the incurrence of Indebtedness arising
    from the agreements of Amkor or a Restricted Subsidiary of Amkor
    providing for indemnification, adjustment of purchase price or
    similar obligations, in each case, incurred or assumed in
    connection with the disposition of any business, assets or a
    Subsidiary; provided, however, that:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(a)&nbsp;such Indebtedness is not reflected as a
    liability on the balance sheet of Amkor or any Restricted
    Subsidiary of Amkor;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(b)&nbsp;the maximum assumable liability in
    respect of all such Indebtedness shall at no time exceed the
    gross proceeds, including non-cash proceeds (the fair market
    value of such non-cash proceeds being measured at the time
    received and without giving effect to any subsequent changes in
    value), actually received by Amkor and its Restricted
    Subsidiaries in connection with such disposition;
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(12)&nbsp;the accrual of interest, accretion or
    amortization of original issue discount, the payment of interest
    on any Indebtedness in the form of additional Indebtedness with
    the same terms, and the payment of dividends on Disqualified
    Stock in the form of additional shares of the same class of
    Disqualified Stock; provided, in each such case, that the amount
    thereof is included in Consolidated Interest Expense of Amkor as
    accrued;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(13)&nbsp;the incurrence of Indebtedness by
    Foreign Subsidiaries in an amount not to exceed 10% of the Total
    Tangible Assets of the Foreign Subsidiaries, taken as a
    whole;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(14)&nbsp;the incurrence by Amkor or any of its
    Restricted Subsidiaries of additional Indebtedness in an
    aggregate principal amount (or accreted value, as applicable) at
    any time outstanding, including all Permitted Refinancing
    Indebtedness incurred to refund, refinance or replace any
    Indebtedness incurred pursuant to this clause&nbsp;(14), not to
    exceed $50.0&nbsp;million.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Indebtedness or preferred stock of any Person
that is outstanding at the time such Person becomes a Restricted
Subsidiary of Amkor (including upon designation of any
Subsidiary or other Person as a Restricted Subsidiary) or is
merged with or into or consolidated with Amkor or a Restricted
Subsidiary of Amkor shall be deemed to have been incurred at the
time such Person becomes such a Restricted Subsidiary of Amkor
or is merged with or into or consolidated with Amkor or a
Restricted Subsidiary of Amkor, as applicable.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor will not incur any Indebtedness (including
Permitted Debt) that is contractually subordinated in right of
payment to any other Indebtedness of Amkor unless such
Indebtedness is also contractually subordinated in right of
payment to the Notes on substantially identical terms; provided,
however, that no Indebtedness of Amkor shall be deemed to be
contractually subordinated in right of payment to any other
Indebtedness of Amkor solely by virtue of any Liens, Guarantees,
maturity of payments or structural seniority.
</FONT>

<P align="center"><FONT size="2">38
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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">For purposes of determining compliance with this
&#147;Incurrence of Indebtedness and Issuance of Preferred
Stock&#148; covenant, in the event that an item of proposed
Indebtedness meets the criteria of more than one of the
categories of Permitted Debt described in clauses&nbsp;(1)
through (14)&nbsp;above, or is entitled to be incurred pursuant
to the first paragraph of this covenant, Amkor will, at its sole
discretion, classify or reclassify such item of Indebtedness (or
any part thereof) in any manner that complies with this
covenant, and such item of Indebtedness shall be treated as
having been incurred pursuant to only one of such clauses or
pursuant to the first paragraph of this covenant.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">For purposes of determining any particular amount
of Indebtedness under this covenant, Guarantees, Liens or
obligations in support of letters of credit supporting
Indebtedness shall not be included to the extent such letters of
credit are included in the amount of such Indebtedness.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Any increase in the amount of any Indebtedness
solely by reason of currency fluctuations shall not be
considered an incurrence of Indebtedness for purposes of this
covenant.
</FONT>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Liens</I></FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor will not, and will not permit any of its
Restricted Subsidiaries to, directly or indirectly, create,
incur, assume or suffer to exist any Lien of any kind securing
Indebtedness on any asset now owned or hereafter acquired,
except Permitted Liens, unless the Notes are equally and ratably
secured with the obligations so secured for as long as such
Indebtedness will be so secured.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Dividend and Other Payment Restrictions
    Affecting Subsidiaries</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor will not, and will not permit any of its
Restricted Subsidiaries to, directly or indirectly, create or
permit to exist or become effective any encumbrance or
restriction on the ability of any Restricted Subsidiary to:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;pay dividends or make any other
    distributions on its Capital Stock to Amkor or any of
    Amkor&#146;s Restricted Subsidiaries, or with respect to any
    other interest or participation in, or measured by, its profits,
    or pay any indebtedness owed to Amkor or any of Amkor&#146;s
    Restricted Subsidiaries;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;make loans or advances to Amkor or any
    of Amkor&#146;s Restricted Subsidiaries;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;transfer any of its properties or assets
    to Amkor or any of Amkor&#146;s Restricted Subsidiaries.
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">However, the preceding restrictions will not
    apply to encumbrances or restrictions existing under or by
    reason of:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;Existing Indebtedness as in effect on
    the date of the Indenture and any amendments, modifications,
    restatements, renewals, increases, supplements, refundings,
    replacements or refinancings thereof; <I>provided</I> that such
    amendments, modifications, restatements, renewals, increases,
    supplements, refundings, replacements or refinancings are no
    more restrictive, taken as a whole, with respect to such
    dividend and other payment restrictions than those contained in
    such Existing Indebtedness, as in effect on the date of the
    Indenture;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;the Indenture and the Notes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;applicable law;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;any instrument governing Indebtedness or
    Capital Stock of a Person acquired by Amkor or any of its
    Restricted Subsidiaries as in effect at the time of such
    acquisition (except to the extent such Indebtedness was incurred
    in connection with or in contemplation of such acquisition),
    which encumbrance or restriction is not applicable to any
    Person, or the properties or assets of any Person, other than
    the Person, or the property or assets of the Person, so
    acquired; <I>provided</I> that, in the case of Indebtedness,
    such Indebtedness was permitted by the terms of the Indenture to
    be incurred;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;customary nonassignment provisions in
    leases, licenses or other contracts entered into in the ordinary
    course of business and consistent with past practices;
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">39
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<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(6)&nbsp;purchase money obligations or Capital
    Lease Obligations for property acquired in the ordinary course
    of business that impose restrictions on the property so acquired
    of the nature described in clause&nbsp;(3) of the first
    paragraph of this section;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(7)&nbsp;any agreement for the sale or other
    disposition of a Restricted Subsidiary that restricts dividends,
    distributions, loans, advances or transfers by such Restricted
    Subsidiary pending its sale or other disposition;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(8)&nbsp;Permitted Refinancing Indebtedness;
    <I>provided</I> that the restrictions contained in the
    agreements governing such Permitted Refinancing Indebtedness are
    no more restrictive, taken as a whole, than those contained in
    the agreements governing the Indebtedness being refinanced;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(9)&nbsp;agreements entered into with respect to
    Liens securing Indebtedness otherwise permitted to be incurred
    pursuant to the provisions of the covenant described above under
    the caption &#147;&#151;&nbsp;Certain Covenants&nbsp;&#151;
    Liens&#148; that limit the right of Amkor or any of its
    Restricted Subsidiaries to dispose of the assets subject to such
    Lien;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(10)&nbsp;provisions with respect to the
    disposition or distribution of assets or property in joint
    venture agreements and other similar agreements entered into in
    the ordinary course of business;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(11)&nbsp;restrictions on cash or other deposits
    or net worth imposed by customers under contracts entered into
    in the ordinary course of business;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(12)&nbsp;any Receivables Program;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(13)&nbsp;any restriction imposed pursuant to
    contracts for the sale of assets with respect to the transfer of
    the assets to be sold pursuant to such contract.
    </FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Merger, Consolidation or Sale of
    Assets</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor may not, directly or indirectly consolidate
or merge with or into another Person (whether or not Amkor is
the surviving corporation) or sell, assign, transfer, convey or
otherwise dispose of all or substantially all of its properties
or assets, in one or more related transactions, to another
Person, unless:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;either (a)&nbsp;Amkor is the surviving
    corporation or (b)&nbsp;the Person formed by or surviving any
    such consolidation or merger (if other than Amkor) or to which
    such sale, assignment, transfer, conveyance or other disposition
    shall have been made is a corporation organized or existing
    under the laws of the United States, any state thereof or the
    District of Columbia;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;the Person formed by or surviving any
    such consolidation or merger (if other than Amkor) or the Person
    to which such sale, assignment, transfer, conveyance or other
    disposition shall have been made assumes all the obligations of
    Amkor under the Notes, the Indenture and the Registration Rights
    Agreement pursuant to agreements reasonably satisfactory to the
    Trustee;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;immediately after such transaction no
    Default or Event of Default exists;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;except in the case of the amalgamation,
    consolidation or merger of Amkor (a)&nbsp;with or into a Wholly
    Owned Restricted Subsidiary or (b)&nbsp;with or into any Person
    solely for the purpose of effecting a change in the state of
    incorporation of Amkor, Amkor or the Person formed by or
    surviving any such consolidation or merger (if other than Amkor)
    will, on the date of such transaction after giving pro forma
    effect thereto and any related financing transactions as if the
    same had occurred at the beginning of the applicable
    four-quarter period, be permitted to incur at least $1.00 of
    additional Indebtedness pursuant to the Consolidated Interest
    Expense Coverage Ratio test set forth in the first paragraph of
    the covenant described above under the caption
    &#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Incurrence of
    Indebtedness and Issuance of Preferred Stock&#148;;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;Amkor shall have delivered to the
    Trustee an Officer&#146;s Certificate stating that such
    consolidation, merger, sale, assignment, transfer, conveyance or
    other disposition complies with the Indenture.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">40
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In addition, Amkor may not, directly or
indirectly, lease all or substantially all of its properties or
assets, in one or more related transactions, to any other
Person. This &#147;Merger, Consolidation or Sale of Assets&#148;
covenant will not apply to a sale, assignment, transfer,
conveyance or other disposition of assets by Amkor to any of its
Wholly Owned Restricted Subsidiaries.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Transactions with Affiliates</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor will not, and will not permit any of its
Restricted Subsidiaries to, make any payment to, or sell, lease,
transfer or otherwise dispose of any of its properties or assets
to, or purchase any property or assets from, or enter into or
make or amend any transaction, contract, agreement,
understanding, loan, advance or Guarantee with, or for the
benefit of, any Affiliate (each, an &#147;Affiliate
Transaction&#148;), unless:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;such Affiliate Transaction (when viewed
    together with related Affiliate Transactions, if any) is on
    terms that are no less favorable to Amkor or the relevant
    Restricted Subsidiary than those that would have been obtained
    in a comparable transaction by Amkor or such Restricted
    Subsidiary with an unrelated Person;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;Amkor delivers to the Trustee:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(a)&nbsp;with respect to any Affiliate
    Transaction or series of related Affiliate Transactions
    involving aggregate consideration in excess of
    $10.0&nbsp;million, a resolution of the Board of Directors set
    forth in an Officer&#146;s Certificate certifying that such
    Affiliate Transaction complies with this covenant and that such
    Affiliate Transaction has been approved by a majority of the
    disinterested members of the Board of Directors (of which there
    must be at least one);&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(b)&nbsp;with respect to any Affiliate
    Transaction or series of related Affiliate Transactions
    involving aggregate consideration in excess of
    $25.0&nbsp;million, an opinion as to the fairness to the holders
    of such Affiliate Transaction from a financial point of view
    issued by an accounting, appraisal or investment banking firm of
    national standing;
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<I><FONT size="2">provided</FONT></I><FONT size="2"> that
(i)&nbsp;Amkor and its Restricted Subsidiaries may enter into
Affiliate Transactions pursuant to the Supply Agreement, the
Foundry Agreement, the Asset Purchase Agreement, the Transition
Services Agreement and the Intellectual Property Rights
Licensing Agreement, and may amend, modify and supplement such
agreements from time to time, so long as Amkor shall have
determined that any such amendment, modification or supplement
will not have a material adverse economic effect on Amkor and
its Subsidiaries, taken as a whole, and (ii)&nbsp;Amkor and its
Restricted Subsidiaries may only enter into transactions
pursuant to the Supply Agreement, the Foundry Agreement, the
Asset Purchase Agreement, the Transition Services Agreement and
the Intellectual Property Rights Licensing Agreement, and amend,
modify and supplement such agreements from time to time, in
circumstances in which clause&nbsp;(i) is not applicable, if a
majority of the disinterested members of the Board of Directors
(of which there must be at least one) shall have approved such
transaction, amendment, modification or supplement;
<I>provided</I>, <I>further</I>, that in the case of both
clauses&nbsp;(i) and (ii), Amkor shall deliver to the Trustee
within 30&nbsp;days of such transaction, amendment, modification
or supplement an Officer&#146;s Certificate (A)&nbsp;describing
the transaction, amendment, modification or supplement approved,
(B)&nbsp;in the case of transactions, amendments, modifications
and supplements to which clause&nbsp;(i) is applicable, setting
forth the determination of Amkor required pursuant to
clause&nbsp;(i), and (C)&nbsp;in the case of transactions,
amendments, modifications and supplements to which
clause&nbsp;(ii) is applicable, attaching a resolution of the
Board of Directors certifying that such Affiliate Transaction
complies with this covenant.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following items shall not be deemed Affiliate
Transactions and, therefore, will not be subject to the
provisions of the prior paragraphs:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;any employment agreement or arrangement
    entered into by Amkor or any of its Restricted Subsidiaries or
    any employee benefit plan available to employees of Amkor and
    its Subsidiaries generally, in each case in the ordinary course
    of business and consistent with the past practice of Amkor or
    such Restricted Subsidiary;
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">41
</FONT>

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<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;Affiliate Transactions between or among
    Amkor and/or its Restricted Subsidiaries;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;payment of reasonable directors&#146;
    fees to Persons who are not otherwise Affiliates of Amkor and
    indemnity provided on behalf of officers, directors and
    employees of Amkor or any of its Restricted Subsidiaries as
    determined in good faith by the Board of Directors of Amkor;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;Any Affiliate Transactions pursuant to
    which Amkor makes short-term advances or otherwise makes
    short-term loans to ASI, which advances or loans are to be
    repaid by ASI (i)&nbsp;within three months from the date of such
    advance or loan and (ii)&nbsp;by offsets by Amkor of amounts
    payable by Amkor to ASI pursuant to the Supply Agreement, if a
    majority of the disinterested members of the Board of Directors
    (of which there must be at least one) shall have approved such
    transaction, amendment, modification or supplement; <I>provided
    </I>that the total amount of such advances and loans outstanding
    at any one time shall not exceed $50.0&nbsp;million;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;Any Restricted Payments that are
    permitted as described above under the caption
    &#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Restricted
    Payments.&#148;
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">For purposes of this &#147;Transactions With
Affiliates&#148; covenant, any transaction or series of related
Affiliate Transactions between Amkor or any Restricted
Subsidiary and an Affiliate that is approved by a majority of
the disinterested members of the Board of Directors (of which
there must be at least one to utilize this method of approval)
and evidenced by a Board resolution or for which a fairness
opinion has been issued shall be deemed to be on terms that are
no less favorable to Amkor or the relevant Restricted Subsidiary
than those that would have been obtained in a comparable
transaction by Amkor or such Restricted Subsidiary with an
unrelated Person and thus shall be permitted under this
&#147;Transactions With Affiliates&#148; covenant.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Sale and Leaseback
    Transactions</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor will not, and will not permit any of its
Subsidiaries to, enter into any sale and leaseback transaction;
<I>provided </I>that Amkor or any Restricted Subsidiary may
enter into a sale and leaseback transaction if:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;Amkor or such Restricted Subsidiary, as
    applicable, could have incurred Indebtedness in an amount equal
    to the Attributable Debt relating to such sale and leaseback
    transaction (if the lease is in the nature of an operating
    lease, otherwise the amount of Indebtedness) under the
    Consolidated Interest Expense Coverage Ratio test in the first
    paragraph of the covenant described above under the caption
    &#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Incurrence of
    Indebtedness and Issuance of Preferred Stock&#148;;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;the transfer of assets in that sale and
    leaseback transaction is permitted by, and Amkor applies the
    proceeds of such transaction in compliance with, the covenant
    described above under the caption &#147;&#151;&nbsp;Repurchase
    at the Option of Holders&nbsp;&#151; Offer to Repurchase by
    Application of Excess Proceeds of Asset Sales.&#148;
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The foregoing restriction shall not apply to any
sale and leaseback transaction if (i)&nbsp;the transaction is
solely between Amkor and any Restricted Subsidiary or between
Restricted Subsidiaries or (ii)&nbsp;the sale and leaseback
transaction is consummated within 180&nbsp;days after the
purchase of the assets subject to such transaction.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">No Amendment to Subordination
    Provisions</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Without the consent of the holders of at least a
majority in aggregate principal amount of the Notes then
outstanding, Amkor will not amend, modify or alter the indenture
governing the 10.50%&nbsp;senior subordinated notes due 2009 in
any way to:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;increase the rate of or change the time
    for payment of interest on any 10.50%&nbsp;senior subordinated
    notes due 2009;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;increase the principal of, advance the
    final maturity date of or shorten the Weighted Average Life to
    Maturity of any 10.50%&nbsp;senior subordinated notes due 2009;
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">42
</FONT>

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<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;alter the redemption provisions or the
    price or terms at which Amkor is required to offer to purchase
    any 10.50%&nbsp;senior subordinated notes due 2009;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;amend the subordinated provisions of
    Article&nbsp;10 contained in the indenture governing the
    10.50%&nbsp;senior subordinated notes due 2009.
    </FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Subsidiary Guarantees</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If Amkor or any of its Restricted Subsidiaries
acquires, creates or capitalizes a Domestic Subsidiary after the
date of the Indenture that is a Significant Subsidiary, then
that newly acquired, created or capitalized Subsidiary must
become a Guarantor and execute a supplemental indenture
satisfactory to the Trustee and deliver an opinion of counsel to
the Trustee within 10 business days of the date on which it was
acquired or created. There are currently no subsidiary
Guarantors.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Designation of Restricted and Unrestricted
    Subsidiaries</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors may designate any
Restricted Subsidiary to be an Unrestricted Subsidiary if that
designation would not cause a Default. If a Restricted
Subsidiary is designated as an Unrestricted Subsidiary, all
outstanding Investments owned by Amkor and its Restricted
Subsidiaries in the Subsidiary so designated will be deemed to
be an Investment made as of the time of such designation and
will reduce the amount available for Restricted Payments under
the covenant described above under the caption
&#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Restricted
Payments&#148; or Permitted Investments, as applicable. All such
outstanding Investments will be valued at their fair market
value at the time of such designation. That designation will
only be permitted if such Restricted Payment would be permitted
at that time and if such Restricted Subsidiary otherwise meets
the definition of an Unrestricted Subsidiary. The Board of
Directors may redesignate any Unrestricted Subsidiary to be a
Restricted Subsidiary if the redesignation would not cause a
Default.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Limitation on Issuances and Sales of Equity
    Interests in Wholly Owned Restricted Subsidiaries</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor will not, and will not permit any of its
Wholly Owned Restricted Subsidiaries to, transfer, convey, sell,
lease or otherwise dispose of any Equity Interests in any Wholly
Owned Restricted Subsidiary of Amkor to any Person (other than
Amkor or a Wholly Owned Restricted Subsidiary of Amkor), unless:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;such transfer, conveyance, sale, lease
    or other disposition is of all the Equity Interests in such
    Wholly Owned Restricted Subsidiary or immediately following such
    transfer, conveyance, sale, lease or other disposition, the
    Wholly Owned Restricted Subsidiary is a Restricted
    Subsidiary;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;the cash Net Proceeds from such
    transfer, conveyance, sale, lease or other disposition are
    applied in accordance with the covenant described above under
    the caption &#147;&#151;&nbsp;Repurchase at the Option of
    Holders&nbsp;&#151; Offer to Repurchase by Application of Excess
    Proceeds of Asset Sales.&#148;
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In addition, Amkor will not permit any Wholly
Owned Restricted Subsidiary of Amkor to issue any of its Equity
Interests (other than, if necessary, shares of its Capital Stock
constituting directors&#146; qualifying shares) to any Person
other than to Amkor or a Wholly Owned Restricted Subsidiary of
Amkor unless immediately following such issuance the Wholly
Owned Restricted Subsidiary is a Restricted Subsidiary.
</FONT>

<P align="left">
<B><FONT size="2">Methods of Receiving Payments On The
Notes</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If a holder has given wire transfer instructions
to Amkor, Amkor will make all principal, premium and interest
payments on those Notes in accordance with those instructions.
All other payments on the Notes will be made at the office or
agency of the Paying Agent and Registrar within the City and
State of New York unless Amkor elects to make interest payments
by check mailed to the holders at their addresses set forth in
the register of holders.
</FONT>

<P align="center"><FONT size="2">43
</FONT>

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<P align="left">
<B><FONT size="2">Paying Agent and Registrar for the
Notes</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Trustee will initially act as Paying Agent
and Registrar. Amkor may change the Paying Agent or Registrar
without prior notice to the holders of the Notes, and Amkor or
any of its Subsidiaries may act as Paying Agent or Registrar.
</FONT>

<P align="left">
<B><FONT size="2">Transfer and Exchange</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A holder may transfer or exchange Notes in
accordance with the Indenture. The Registrar and the Trustee may
require a holder, among other things, to furnish appropriate
endorsements and transfer documents and Amkor may require a
holder to pay any taxes and fees required by law or permitted by
the Indenture.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The registered holder of a Note will be treated
as its owner for all purposes.
</FONT>

<P align="left">
<B><FONT size="2">Payments for Consent</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor will not, and will not permit any of its
Subsidiaries to, directly or indirectly, pay or cause to be paid
any consideration to or for the benefit of any holder of the
Notes for or as an inducement to any consent, waiver or
amendment of any of the terms or provisions of the Indenture or
the Notes unless such consideration is offered to be paid and is
paid to all holders of the Notes that consent, waive or agree to
amend in the time frame set forth in the solicitation documents
relating to such consent, waiver or agreement.
</FONT>

<P align="left">
<B><FONT size="2">Reports</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Whether or not required by the SEC, so long as
any Notes are outstanding, Amkor shall file with the SEC (if
permitted) all the reports and other information as it would be
required to file with the SEC by Sections&nbsp;13(a) and 15(d)
under the Exchange Act, as if it were subject thereto. Amkor
shall supply the Trustee and each holder of the Notes, or shall
supply to the Trustee for forwarding to each holder of the
Notes, without cost to any such holder, copies of such reports
and other information (whether or not so filed).
</FONT>

<P align="left">
<B><FONT size="2">Events of Default and Remedies</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">With respect to the Notes, each of the following
is an &#147;Event of Default&#148;:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;default for 30&nbsp;days in the payment
    when due of interest on, or Liquidated Damages with respect to,
    the Notes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;default in payment when due of the
    principal of or premium, if any, on the Notes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;failure by Amkor or any of its
    Subsidiaries to make any payment required to be made under the
    provisions described above under the caption
    &#147;&#151;&nbsp;Repurchase at the Option of
    Holders&nbsp;&#151; Offer to Repurchase Upon Change of
    Control&#148; or &#147;&#151;&nbsp;Repurchase at the Option of
    Holders&nbsp;&#151; Offer to Repurchase by Application of Excess
    Proceeds of Asset Sales;&#148;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;failure by Amkor or any of its
    Restricted Subsidiaries for 60&nbsp;days after notice to comply
    with any covenant, representations, warranty or other agreements
    in the Indenture is provided to Amkor by the Trustee or the
    holders of at least 25% in principal amount of then outstanding
    Notes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;default under any mortgage, indenture or
    instrument under which there may be issued or by which there may
    be secured or evidenced any Indebtedness for money borrowed by
    Amkor or any of its Restricted Subsidiaries (or the payment of
    which is guaranteed by Amkor or any of its Restricted
    Subsidiaries) whether such Indebtedness or Guarantee now exists,
    or is created after the date of the Indenture, in an aggregate
    principal amount of $10.0&nbsp;million or more, if that default:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(a)&nbsp;is caused by a failure to pay principal
    of such Indebtedness at the Stated Maturity thereof (a
    &#147;Payment Default&#148;);&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(b)&nbsp;results in the acceleration of such
    Indebtedness prior to the Stated Maturity thereof;
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">44
</FONT>

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<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(6)&nbsp;failure by Amkor or any of its
    Significant Subsidiaries or any group of Subsidiaries that,
    taken together, would constitute a Significant Subsidiary, to
    pay final judgments aggregating in excess of $10.0&nbsp;million
    (other than amounts covered by insurance), which judgments are
    not paid, discharged or stayed for a period of 60&nbsp;days; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(7)&nbsp;certain events of bankruptcy or
    insolvency with respect to Amkor or any of its Significant
    Subsidiaries, or any group of Subsidiaries that, taken together,
    would constitute a Significant Subsidiary.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In the case of an Event of Default arising from
certain events of bankruptcy or insolvency, with respect to
Amkor, any Subsidiary that is a Significant Subsidiary or any
group of Subsidiaries that, taken together, would constitute a
Significant Subsidiary, all outstanding Notes will become due
and payable immediately without further action or notice. If any
other Event of Default occurs and is continuing, the Trustee or
the holders of at least 25% in principal amount of the then
outstanding Notes may declare all the Notes to be due and
payable immediately.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Holders of the Notes may not enforce their
respective indentures or the Notes except as provided in the
Indenture. Subject to certain limitations, holders of a majority
in principal amount of the then outstanding Notes may direct the
Trustee in its exercise of any trust or power. The Trustee may
withhold from holders of the Notes notice of any continuing
Default or Event of Default (except a Default or Event of
Default relating to the payment of principal or interest) if it
determines that withholding notice is in their interest.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The holders of a majority in aggregate principal
amount of the Notes then outstanding by notice to the Trustee
may on behalf of the holders of all of the Notes waive any
existing Default or Event of Default and its consequences under
the Indenture except a continuing Default or Event of Default in
the payment of interest on, or the principal of, the Notes.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor is required to deliver to the Trustee
annually a statement regarding compliance with the Indenture.
Upon becoming aware of any Default or Event of Default, Amkor is
required to deliver to the Trustee a statement specifying such
Default or Event of Default.
</FONT>

<P align="left">
<B><FONT size="2">No Personal Liability of Directors, Officers,
Employees and Stockholders</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">No director, officer, employee, incorporator or
stockholder of Amkor or any Guarantor, as such, shall have any
liability for any obligations of Amkor or the Guarantors under
the Notes, the Indenture, and the Subsidiary Guarantees or for
any claim based on, in respect of, or by reason of, such
obligations or their creation. Each holder of the Notes by
accepting a Note waives and releases all such liability. The
waiver and release are part of the consideration for issuance of
the Notes. The waiver may not be effective to waive liabilities
under the federal securities laws.
</FONT>

<P align="left">
<B><FONT size="2">Legal Defeasance and Covenant
Defeasance</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor may, at its option and at any time, elect
to have all of its obligations discharged with respect to the
outstanding Notes and all obligations of the Guarantors
discharged with respect to their Subsidiary Guarantees
(&#147;Legal Defeasance&#148;), except for:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;the rights of holders of outstanding
    Notes to receive payments in respect of the principal of,
    premium, if any, and interest and Liquidated Damages on such
    Notes when such payments are due from the trust referred to
    below;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;Amkor&#146;s obligations with respect to
    the Notes concerning issuing temporary Notes, registration of
    Notes, mutilated, destroyed, lost or stolen Notes and the
    maintenance of an office or agency for payment and money for
    security payments held in trust;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;the rights, powers, trusts, duties and
    immunities of the Trustee, and Amkor&#146;s obligations in
    connection therewith;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;the Legal Defeasance provisions of the
    Indenture.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">45
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In addition, Amkor may, at its option and at any
time, elect to have the Obligations of Amkor and the Guarantors
released with respect to certain covenants that are described in
the Indenture (&#147;Covenant Defeasance&#148;), and thereafter
any omission to comply with those covenants shall not constitute
a Default or Event of Default with respect to the Notes. In the
event Covenant Defeasance occurs, certain events (other than
nonpayment, bankruptcy, receivership, rehabilitation and
insolvency events) described under the caption
&#147;&#151;&nbsp;Events of Default and Remedies&#148; will no
longer constitute an Event of Default with respect to the Notes.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In order to exercise either Legal Defeasance or
Covenant Defeasance:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;Amkor must irrevocably deposit with the
    Trustee, in trust, for the benefit of the holders of the Notes,
    cash in United States dollars, noncallable government
    securities, or a combination thereof, in such amounts as will be
    sufficient, in the opinion of a nationally recognized firm of
    independent public accountants, to pay the principal of, premium
    and Liquidated Damages, if any, and interest and Liquidated
    Damages on the outstanding Notes at the Stated Maturity or on
    the applicable redemption date, as the case may be, and Amkor
    must specify whether the Notes are being defeased to maturity or
    to a particular redemption date;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;in the case of Legal Defeasance, Amkor
    shall have delivered to the Trustee an opinion of counsel
    reasonably acceptable to the Trustee confirming that
    (a)&nbsp;Amkor has received from, or there has been published
    by, the Internal Revenue Service a ruling or (b)&nbsp;since the
    date of the Indenture, there has been a change in the applicable
    federal income tax law, in either case to the effect that, and
    based thereon such opinion of counsel shall confirm that, the
    holders of the outstanding Notes will not recognize income, gain
    or loss for federal income tax purposes as a result of such
    Legal Defeasance and will be subject to federal income tax on
    the same amounts, in the same manner and at the same times as
    would have been the case if such Legal Defeasance had not
    occurred;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;in the case of Covenant Defeasance,
    Amkor shall have delivered to the Trustee an opinion of counsel
    reasonably acceptable to the Trustee confirming that the holders
    of the outstanding Notes will not recognize income, gain or loss
    for federal income tax purposes as a result of such Covenant
    Defeasance and will be subject to federal income tax on the same
    amounts, in the same manner and at the same times as would have
    been the case if such Covenant Defeasance had not occurred;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;no Default or Event of Default shall
    have occurred and be continuing either (a)&nbsp;on the date of
    such deposit (other than a Default or Event of Default resulting
    from the borrowing of funds to be applied to such deposit) or
    (b)&nbsp;insofar as Events of Default from bankruptcy or
    insolvency events are concerned, at any time in the period
    ending on the 91st&nbsp;day after the date of deposit;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;such Legal Defeasance or Covenant
    Defeasance will not result in a breach or violation of, or
    constitute a default under any material agreement or instrument
    (other than the Indenture) to which Amkor or any of its
    Restricted Subsidiaries are parties or by which Amkor or any of
    its Restricted Subsidiaries are bound;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(6)&nbsp;Amkor must have delivered to the Trustee
    an opinion of counsel to the effect that after the 91st&nbsp;day
    following the deposit, the trust funds will not be subject to
    the effect of any applicable bankruptcy, insolvency,
    reorganization or similar laws affecting creditors&#146; rights
    generally;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(7)&nbsp;Amkor must deliver to the Trustee an
    Officer&#146;s Certificate stating that the deposit was not made
    by Amkor with the intent of preferring the holders of the Notes
    over the other creditors of Amkor with the intent of defeating,
    hindering, delaying or defrauding creditors of Amkor or others;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(8)&nbsp;Amkor must deliver to the Trustee an
    Officer&#146;s Certificate and an opinion of counsel, each
    stating that all conditions precedent relating to the Legal
    Defeasance or the Covenant Defeasance have been complied
    with;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(9)&nbsp;except as otherwise provided in the
    Indenture, each Guarantor shall have been released from any of
    its Obligations under its Guarantee of the Notes.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">46
</FONT>

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<P align="left">
<B><FONT size="2">Amendment, Supplement and Waiver</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Subject to the exceptions specified in the
following paragraphs, the Indenture may be amended with the
consent of the holders of a majority of the aggregate
outstanding principal amount of the Notes and any Default or
compliance with any provision of the Indenture may be waived
with the consent of the holders of a majority of the aggregate
outstanding principal amount of the Notes.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Without the consent of each holder affected, an
amendment or waiver may not (with respect to any Notes held by a
nonconsenting holder):
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;reduce the principal amount of Notes
    whose holders must consent to an amendment, supplement or waiver;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;reduce the principal of or change the
    fixed maturity of any Note or alter the provisions with respect
    to the redemption of the Notes (other than provisions relating
    to the covenants described above under the caption
    &#147;&#151;&nbsp;Repurchase at the Option of Holders&#148;);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;reduce the rate of or change the time
    for payment of interest, including default interest, on any Note;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;waive a Default or Event of Default in
    the payment of principal of or premium, if any, or interest on
    the Notes (except a rescission of acceleration of the Notes by
    the holders of at least a majority in aggregate principal amount
    of the Notes and a waiver of the Payment Default that resulted
    from such acceleration);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;make any Note payable in money other
    than that stated in the Notes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(6)&nbsp;make any change in the provisions of the
    Indenture relating to waivers of past Defaults or the rights of
    holders of the Notes to receive payments of principal of or
    premium, if any, or interest on the Notes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(7)&nbsp;waive a payment required by one of the
    covenants described above under the caption
    &#147;&#151;&nbsp;Repurchase at the Option of Holders;&#148;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(8)&nbsp;make any change in the preceding
    amendment and waiver provisions;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(9)&nbsp;release any Guarantor from any of its
    obligations under its Guarantee of the Notes or the Indenture,
    except in accordance with the terms of the Indenture.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Notwithstanding the preceding, without the
consent of any holder of the Notes, Amkor and the Trustee may
amend or supplement the Indenture or the Notes to:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;cure any ambiguity, defect or
    inconsistency;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;provide for uncertificated Notes in
    addition to or in place of certificated Notes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;provide for the assumption of
    Amkor&#146;s obligations to holders of the Notes in the case of
    a merger or consolidation or sale of all or substantially all of
    Amkor&#146;s assets;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;make any change that would provide any
    additional rights or benefits to the holders of Notes or that
    does not adversely affect the legal rights under the Indenture
    of any such holder;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;comply with requirements of the SEC in
    order to effect or maintain the qualification of the Indenture
    under the Trust Indenture Act of 1939.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<B><FONT size="2">Concerning the Trustee</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If the Trustee becomes a creditor of Amkor or any
Guarantor, the Indenture limits its right to obtain payment of
claims in certain cases, or to realize on certain property
received in respect of any such claim as security or otherwise.
Such Trustee will be permitted to engage in other transactions,
but if it acquires any conflicting interest, it must eliminate
such conflict within 90&nbsp;days, apply to the SEC for
permission to continue or resign.
</FONT>

<P align="center"><FONT size="2">47
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The holders of a majority in principal amount of
the then outstanding Notes will have the right to direct the
time, method and place of conducting any proceeding for
exercising any remedy available to the Trustee, subject to
certain exceptions. The Indenture provides that in case an Event
of Default shall occur and be continuing, the Trustee will be
required, in the exercise of its power, to use the degree of
care of a prudent man in the conduct of his own affairs. Subject
to such provisions, the Trustee will be under no obligation to
exercise any of its rights or powers under the Indenture at the
request of any holder of the Notes, unless such holder shall
have offered to the Trustee security and indemnity satisfactory
to it against any loss, liability or expense.
</FONT>

<P align="left">
<B><FONT size="2">Available Information</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Anyone who receives this prospectus may obtain a
copy of the Indenture and Registration Rights Agreement without
charge by writing to Amkor Technology, Inc.,
1345&nbsp;Enterprise Drive, West Chester, Pennsylvania 19380,
and Attention: Secretary.
</FONT>

<P align="left">
<B><FONT size="2">Governing Law</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Indenture provides that it and the Notes will
be governed by, and construed in accordance with, the laws of
the State of New York without giving effect to applicable
principles of conflicts of laws to the extent that the
application of the law of another jurisdiction would be required
thereby.
</FONT>

<P align="left">
<B><FONT size="2">Registration Rights; Liquidated
Damages</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We and the initial purchasers entered into the
Registration Rights Agreement on March&nbsp;12, 2004. Pursuant
to the Registration Rights Agreement, we agreed to use
commercially reasonable efforts to file with the SEC the
exchange offer registration statement on the appropriate form
under the Securities Act with respect to the exchange notes.
Pursuant to the exchange offer registration statement of which
this prospectus is a part, we are offering to the holders of
Transfer Restricted Securities pursuant to the exchange offer
who are able to make certain representations the opportunity to
exchange their Transfer Restricted Securities for exchange notes.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If (1)&nbsp;the exchange offer is not permitted
by applicable law or SEC policy or (2)&nbsp;any holder of Notes
that are Transfer Restricted Securities notifies us prior to the
20th business day following the consummation of the exchange
offer that (a)&nbsp;it is prohibited by law or SEC policy from
participating in the exchange offer, (b)&nbsp;it may not resell
the exchange notes acquired by it in the exchange offer to the
public without delivering a prospectus, and the prospectus
contained in the exchange offer Registration Statement is not
appropriate or available for such resales by it, or (c)&nbsp;it
is a broker-dealer and holds Notes acquired directly from us or
any of our Affiliates, we will file with the SEC a Shelf
Registration Statement to register for public resale the
Transfer Restricted Securities held by any such holder who
provides us with certain information for inclusion in the Shelf
Registration Statement.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">For the purposes of the Registration Rights
Agreement, &#147;Transfer Restricted Securities&#148; means each
Note until:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;the date on which such Note has been
    exchanged by a Person other than a broker-dealer for an exchange
    note in the exchange offer;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;following the exchange by a
    broker-dealer in the exchange offer of a Note for an exchange
    note, the date on which such exchange note is sold to a
    purchaser who receives from such broker-dealer on or prior to
    the date of such sale a copy of the prospectus contained in the
    exchange offer Registration Statement;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;the date on which such Note has been
    effectively registered under the Securities Act and disposed of
    in accordance with the Shelf Registration Statement;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;the date on which such Note is
    distributed to the public pursuant to Rule&nbsp;144 under the
    Securities Act.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">48
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Registration Rights Agreement provides that:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;we will use commercially reasonable
    efforts to file an exchange offer Registration Statement with
    the SEC on or prior to July&nbsp;10, 2004;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;we will use commercially reasonable
    efforts to have the exchange offer Registration Statement
    declared effective by the SEC on or prior to October&nbsp;8,
    2004;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;unless the exchange offer would not be
    permitted by applicable law or SEC policy, we will:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(a)&nbsp;commence the exchange offer; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(b)&nbsp;use commercially reasonable efforts to
    issue on or prior to 30 business days, or longer, if required by
    the federal securities laws, after the date on which the
    exchange offer Registration Statement was declared effective by
    the SEC, exchange notes in exchange for all Notes tendered prior
    thereto in the exchange offer;&nbsp;and
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;if obligated to file the Shelf
    Registration Statement, we will use commercially reasonable
    efforts to file the Shelf Registration Statement with the SEC on
    or prior to 60&nbsp;days after such filing obligation arises and
    to cause the Shelf Registration to be declared effective by the
    SEC on or prior to 120&nbsp;days after such obligation arises.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;we fail to file any of the registration
    statements required by the Registration Rights Agreement on or
    before the date specified for such filing;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;any of such registration statement is
    not declared effective by the SEC on or prior to the date
    specified for such effectiveness (the &#147;Effectiveness Target
    Date&#148;);&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;we fail to consummate the exchange offer
    within 30 business days of the Effectiveness Target Date with
    respect to the exchange offer Registration Statement;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;the Shelf Registration Statement or the
    exchange offer Registration Statement is declared effective but
    thereafter ceases to be effective or usable in connection with
    resales of Transfer Restricted Securities during the periods
    specified in the Registration Rights Agreement (each such event
    referred to in clauses&nbsp;(1) through (4)&nbsp;above, a
    &#147;Registration Default&#148;),
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">then we will pay Liquidated Damages to each
holder of the Notes, with respect to the first 90-day period
immediately following the occurrence of the first Registration
Default, at a rate equal to 0.25%&nbsp;per annum in principal
amount of Transfer Restricted Securities held by such holder for
each week or portion thereof. The rate of such Liquidated
Damages will increase by 0.25%&nbsp;per annum with respect to
each subsequent 90-day period until all Registration Defaults
have been cured, up to a maximum amount of Liquidated Damages
for all Registration Defaults of 1.00%&nbsp;per annum. If, after
the cure of all Registration Defaults then in effect, there is a
subsequent Registration Default, the rate of Liquidated Damages
for such subsequent Registration Default shall initially be
0.25%, regardless of the Liquidated Damages rate in effect with
respect to any prior Registration Default at the time of the
cure of such Registration Default.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All accrued Liquidated Damages will be paid by us
on each interest payment date to the holder of the global
securities (as defined below) by wire transfer of immediately
available funds or by federal funds check and to holders of
certificated securities (as defined below) by wire transfer to
the accounts specified by them or by mailing checks to their
registered addresses if no such accounts have been specified.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Holders of the Notes will be required to make
certain representations to us (as described in the Registration
Rights Agreements) in order to participate in the exchange offer
and will be required to deliver certain information to be used
in connection with the Shelf Registration Statement and to
provide comments on the Shelf Registration Statement within the
time periods set forth in the Registration Rights Agreement in
order to have their Notes included in the Shelf Registration
Statement and benefit from the provisions regarding Liquidated
Damages set forth above. Holders of the Notes will also be
required to suspend their use of the prospectus included in the
Shelf Registration Statement under certain circumstances upon
receipt of
</FONT>

<P align="center"><FONT size="2">49
</FONT>
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<DIV align="left">
<FONT size="2">written notice to that effect from us. By
acquiring Transfer Restricted Securities, a holder will be
deemed to have agreed to indemnify us against certain losses
arising out of information furnished by such holder in writing
for inclusion in any Shelf Registration Statement.
</FONT>
</DIV>

<P align="left">
<B><FONT size="2">Consent to Jurisdiction and Service</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Indenture provides that Amkor will
irrevocably appoint CT Corporation System as its agent for
service of process in any suit, action or proceeding with
respect to the Indenture or the Notes and for actions brought
under federal or state securities laws in any federal or state
court located in the Borough of Manhattan in The City of New
York, and submits to such jurisdiction.
</FONT>

<P align="left">
<B><FONT size="2">Certain Definitions</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Set forth below are certain defined terms used in
the Indenture. Reference is made to the Indenture for a full
disclosure of all such terms, as well as any other capitalized
terms used herein for which no definition is provided. Cross
references to subcaptions shall mean the respective subcaption,
as appropriate, under the caption &#147;Description of the
Notes.&#148;
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Acquired
Debt&#148;</FONT></I><FONT size="2"> means, with respect to any
specified Person:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;Indebtedness of any other Person
    existing at the time such other Person is merged with or into or
    became a Subsidiary of such specified Person, whether or not
    such Indebtedness is incurred in connection with, or in
    contemplation of, such other Person merging with or into, or
    becoming a Subsidiary of, such specified Person;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;Indebtedness secured by a Lien
    encumbering any asset acquired by such specified Person.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Affiliate&#148;</FONT></I><FONT size="2">
of any specified Person means any other Person directly or
indirectly controlling or controlled by or under direct or
indirect common control with such specified Person. For purposes
of this definition, &#147;control,&#148; as used with respect to
any Person, shall mean the possession, directly or indirectly,
of the power to direct or cause the direction of the management
or policies of such Person, whether through the ownership of
voting securities, by agreement or otherwise; provided that
beneficial ownership of 10% or more, or an agreement, obligation
or option to purchase&nbsp;10% or more, of the Voting Stock of a
Person shall be deemed to be control. For purposes of this
definition, the terms &#147;controlling,&#148; &#147;controlled
by&#148; and &#147;under common control with&#148; shall have
correlative meanings.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Asset Purchase
Agreement&#148;</FONT></I><FONT size="2"> means that certain
Asset Purchase Agreement dated as of December&nbsp;30, 1998,
between Amkor and ASI, as the same may be extended or renewed
from time to time without alteration of the material terms
thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Asset
Sale&#148;</FONT></I><FONT size="2"> means:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;the sale, lease, conveyance or other
    disposition of any assets or rights (including by way of a
    sale-and-leaseback) other than sales of inventory in the
    ordinary course of business (provided that the sale, lease
    conveyance or other disposition of all or substantially all the
    assets of Amkor and its Restricted Subsidiaries taken as a whole
    will be governed by the provisions of the Indenture described
    above under the caption &#147;&#151;&nbsp;Repurchase at the
    Option of Holders&nbsp;&#151; Offer to Repurchase Upon Change of
    Control&#148; and/or the provisions described above under the
    caption &#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Merger,
    Consolidation or Sale of Assets&#148; and not by the provisions
    described above under the caption &#147;&#151;&nbsp;Repurchase
    at the Option of Holders&nbsp;&#151; Offer to Repurchase by
    Application of Excess Proceeds of Asset Sales&#148;);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;with respect to Amkor, the sale of
    Equity Interests in any of its Subsidiaries;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;with respect to Amkor&#146;s Restricted
    Subsidiaries, the issuance of Equity Interests.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">50
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Notwithstanding the preceding, the following
items shall not be deemed to be Asset Sales:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;any single transaction or series of
    related transactions that: (a)&nbsp;involves assets having a
    fair market value of less than $2.0&nbsp;million; or
    (b)&nbsp;results in net proceeds to Amkor and its Restricted
    Subsidiaries of less than $2.0&nbsp;million;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;a transfer of assets between or among
    Amkor and any Restricted Subsidiary;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;an issuance of Equity Interests by a
    Restricted Subsidiary to Amkor or to another Wholly Owned
    Restricted Subsidiary;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;the sale, lease, conveyance or other
    disposition of any Receivable Program Assets by Amkor or any
    Restricted Subsidiary in connection with a Receivables Program;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;the sale, lease, conveyance or other
    disposition of any inventory, receivables or other current
    assets by Amkor or any of its Restricted Subsidiaries in the
    ordinary course of business;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(6)&nbsp;the granting of a Permitted Lien;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(7)&nbsp;the licensing by Amkor or any Restricted
    Subsidiary of intellectual property in the ordinary course of
    business or on commercially reasonable terms;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(8)&nbsp;the sale, lease, conveyance or other
    disposition of obsolete or worn out equipment or equipment no
    longer useful in Amkor&#146;s business;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(9)&nbsp;the making or liquidating of any
    Restricted Payment or Permitted Investment that is permitted by
    the covenant described above under the caption
    &#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Restricted
    Payments.&#148;
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Attributable
Debt&#148;</FONT></I><FONT size="2"> in respect of a sale and
leaseback transaction involving an operating lease means, at the
time of determination, the present value of the obligation of
the lessee for net rental payments during the remaining term of
the lease included in such sale and leaseback transaction
including any period for which such lease has been extended or
may, at the option of the lessor, be extended. Such present
value shall be calculated using a discount rate equal to the
rate of interest implicit in such transaction, determined in
accordance with GAAP.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Beneficial
Owner&#148;</FONT></I><FONT size="2"> has the meaning assigned
to such term in Rule&nbsp;13d-3 and Rule&nbsp;13d-5 under the
Exchange Act, except that in calculating the beneficial
ownership of any particular &#147;person&#148; (as such term is
used in Section&nbsp;13(d)(3) of the Exchange Act), such
&#147;person&#148; shall be deemed to have beneficial ownership
of all securities that such &#147;person&#148; has the right to
acquire, whether such right is currently exercisable or is
exercisable only upon the occurrence of a subsequent condition.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Capital Lease
Obligation&#148;</FONT></I><FONT size="2"> means, at the time
any determination thereof is to be made, the amount of the
liability in respect of a capital lease that would at that time
be required to be capitalized on a balance sheet in accordance
with GAAP.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Capital
Stock&#148;</FONT></I><FONT size="2"> means:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;in the case of a corporation, corporate
    stock;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;in the case of an association or
    business entity, any and all shares, interests, participations,
    rights or other equivalents (however designated) of corporate
    stock;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;in the case of a partnership or limited
    liability company, partnership or membership interests (whether
    general or limited);&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;any other interest or participation that
    confers on a Person the right to receive a share of the profits
    and losses of, or distributions of assets of, the issuing Person.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Cash
Equivalents&#148;</FONT></I><FONT size="2"> means:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;United States dollars or currency of any
    other sovereign nation in which Amkor or any Restricted
    Subsidiary conducts business;
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">51
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;securities issued or direct and fully
    guaranteed or insured by the full faith and credit of the United
    States government or any agency or instrumentality thereof
    having maturities of not more than 12&nbsp;months from the date
    of acquisition;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;certificates of deposit and eurodollar
    time deposits with maturities of 12&nbsp;months or less from the
    date of acquisition, bankers&#146; acceptances with maturities
    not exceeding 12&nbsp;months and overnight bank deposits, in
    each case with (a)&nbsp;any domestic commercial bank having
    capital and surplus in excess of $500.0&nbsp;million and a Fitch
    Individual Rating (formerly Thompson Bank Watch Rating) of
    &#147;B&#148; or better, or (b)&nbsp;any commercial bank
    organized under the laws of any foreign country recognized by
    the United States of America having capital and surplus in
    excess of $500.0&nbsp;million (or the foreign currency
    equivalent thereof) and a Fitch Individual Rating (formerly
    Thompson Bank Watch Rating) of &#147;B&#148; or better;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;repurchase obligations with a term of
    not more than seven days for underlying securities of the types
    described in clauses&nbsp;(2) and (3)&nbsp;above entered into
    with any financial institution meeting the qualifications
    specified in clause&nbsp;(3) above;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;commercial paper having the highest
    rating obtainable from Moody&#146;s Investors Service, Inc. or
    Standard&nbsp;&#38; Poor&#146;s Corporation and in each case
    maturing within six months after the date of
    acquisition;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(6)&nbsp;money market funds at least 95.0% of the
    assets of which constitute Cash Equivalents of the kinds
    described in clauses&nbsp;(1) through (5)&nbsp;of this
    definition;
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<I><FONT size="2">provided </FONT></I><FONT size="2">that
currency of any sovereign nation other than the United States
and certificates of deposit, eurodollar time deposits,
bankers&#146; acceptances and overnight bank deposits with any
commercial bank organized under the laws of a foreign country
shall not be considered &#147;Cash Equivalents&#148; for
purposes of determining whether an Asset Sale constitutes a
permitted Asset Sale under the covenants described under the
heading &#147;&#151;&nbsp;Offer to Repurchase by Application of
Excess Proceeds of Asset Sales.&#148;
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Change of
Control&#148;</FONT></I><FONT size="2"> means the occurrence of
any of the following:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;the adoption of a plan relating to the
    liquidation or dissolution of Amkor;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;the consummation of any transaction
    (including, without limitation, any merger or consolidation) the
    result of which is that any &#147;person&#148; (as defined
    above), other than a Permitted holder, becomes the Beneficial
    Owner, directly or indirectly, of more than 35% of the Voting
    Stock of Amkor, measured by voting power rather than number of
    shares, and such percentage represents more than the aggregate
    percentage of the Voting Stock of Amkor, measured by voting
    power rather than number of shares, as to which any Permitted
    holder is the Beneficial Owner;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;the first date during any consecutive
    two-year period on which a majority of the members of the Board
    of Directors of Amkor are not Continuing Directors.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">For purposes of this definition, any transfer of
an Equity Interest of an entity that was formed for the purpose
of acquiring Voting Stock of Amkor will be deemed to be a
transfer of such portion of Voting Stock as corresponds to the
portion of the equity of such entity that has been so
transferred.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Consolidated Cash
Flow&#148;</FONT></I><FONT size="2"> means, with respect to any
Person for any period, the Consolidated Net Income of such
Person for such period <I>plus</I>:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;an amount equal to any extraordinary
    loss plus any net loss realized in connection with an Asset
    Sale, to the extent such losses were deducted in computing such
    Consolidated Net Income; <I>plus</I>
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;provision for taxes based on income or
    profits of such Person and its Restricted Subsidiaries for such
    period, to the extent that such provision for taxes was deducted
    in computing such Consolidated Net Income; <I>plus</I>
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;consolidated interest expense of such
    Person and its Restricted Subsidiaries for such period, whether
    paid or accrued and whether or not capitalized (including,
    without limitation, amortization of
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">52
</FONT>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">debt issuance costs and original issue discount,
    non-cash interest payments, the interest component of any
    deferred payment obligations, the interest component of all
    payments associated with Capital Lease Obligations, imputed
    interest with respect to Attributable Debt, commissions,
    discounts and other fees and charges incurred in respect of
    letter of credit or bankers&#146; acceptance financings, and net
    payments, if any, pursuant to Hedging Obligations), to the
    extent that any such expense was deducted in computing such
    Consolidated Net Income; <I>plus</I>
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;depreciation, amortization (including
    amortization of goodwill and other intangibles but excluding
    amortization of prepaid cash expenses that were paid in a prior
    period) and other non-cash expenses (excluding any such non-cash
    expense to the extent that it represents an accrual of or
    reserve for cash expenses in any future period or amortization
    of a prepaid cash expense that was paid in a prior period) of
    such Person and its Restricted Subsidiaries for such period to
    the extent that such depreciation, amortization and other
    non-cash expenses were deducted in computing such Consolidated
    Net Income; <I>plus</I>
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;non-cash items (other than any non-cash
    items that will require cash payments in the future or that
    relate to foreign currency translation) decreasing such
    Consolidated Net Income for such period, other than items that
    were accrued in the ordinary course of business, in each case,
    on a consolidated basis and determined in accordance with GAAP;
    <I>minus</I>
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(6)&nbsp;non-cash items (other than any non-cash
    items that will require cash payments in the future or that
    relate to foreign currency translation) increasing such
    Consolidated Net Income for such period, other than items that
    were accrued in the ordinary course of business, in each case,
    on a consolidated basis and determined in accordance with GAAP.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Notwithstanding the preceding, the provision for
taxes based on the income or profits of, and the depreciation
and amortization and other non-cash charges of, a Restricted
Subsidiary of Amkor shall be added to Consolidated Net Income to
compute Consolidated Cash Flow of Amkor only to the extent that
a corresponding amount would be permitted at the date of
determination to be dividended to Amkor by such Restricted
Subsidiary without prior approval (that has not been obtained),
pursuant to the terms of its charter and all agreements,
instruments, judgments, decrees, orders, statutes, rules and
governmental regulations applicable to that Subsidiary or its
stockholders.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Consolidated Interest Expense&#148;
</FONT></I><FONT size="2">means, with respect to any Person for
any period, the sum, without duplication, of:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;the consolidated interest expense of
    such Person and its Restricted Subsidiaries for such period,
    whether paid or accrued, including, without limitation,
    amortization of debt issuance costs and original issue discount,
    non-cash interest payments, the interest component of any
    deferred payment obligations, the interest component of all
    payments associated with Capital Lease Obligations, imputed
    interest with respect to Attributable Debt, commissions,
    discounts and other fees and charges incurred in respect of
    letter of credit or bankers&#146; acceptance financings, and net
    payments, if any, pursuant to Hedging Obligations; <I>plus</I>
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;the consolidated interest of such Person
    and its Restricted Subsidiaries that was capitalized during such
    period; <I>plus</I>
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;interest actually paid by Amkor or any
    Restricted Subsidiary under any Guarantee of Indebtedness of
    another Person; <I>plus</I>
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;the product of all dividend payments,
    whether or not in cash, on any series of preferred stock of such
    Person or any of its Restricted Subsidiaries, other than
    dividend payments on Equity Interests payable solely in Equity
    Interests of Amkor (other than Disqualified Stock) or to Amkor
    or a Restricted Subsidiary of Amkor.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Consolidated Interest Expense Coverage
Ratio&#148;</FONT></I><FONT size="2"> means, with respect to any
specified Person for any period, the ratio of the Consolidated
Cash Flow of such Person and its Restricted Subsidiaries for
such period to the Consolidated Interest Expense of such Person
for such period. In the event that the specified Person or
</FONT>

<P align="center"><FONT size="2">53
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<DIV align="left">
<FONT size="2">any of its Restricted Subsidiaries incurs,
assumes, guarantees or redeems any Indebtedness (other than
revolving credit borrowings) or issues or redeems preferred
stock subsequent to the commencement of the period for which the
Consolidated Interest Expense Coverage Ratio is being calculated
but prior to the date on which the event for which the
calculation of the Consolidated Interest Expense Coverage Ratio
is made (the &#147;Calculation Date&#148;), then the
Consolidated Interest Expense Coverage Ratio shall be calculated
giving pro forma effect to such incurrence, assumption,
Guarantee or redemption of Indebtedness, or such issuance or
redemption of preferred stock, as if the same had occurred at
the beginning of the applicable four-quarter reference period.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In addition, for purposes of calculating the
Consolidated Interest Expense Coverage Ratio:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;acquisitions that have been made by the
    specified Person or any of its Restricted Subsidiaries,
    including through mergers or consolidations and including any
    related financing transactions, during the four-quarter
    reference period or subsequent to such reference period and on
    or prior to the Calculation Date shall be deemed to have
    occurred on the first day of the four-quarter reference period,
    and Consolidated Cash Flow for such reference period shall be
    calculated without giving effect to clause&nbsp;(3) of the
    proviso set forth in the definition of Consolidated Net Income;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;the Consolidated Cash Flow attributable
    to discontinued operations, as determined in accordance with
    GAAP, and operations or businesses disposed of prior to the
    Calculation Date, shall be excluded;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;the Consolidated Interest Expense
    attributable to discontinued operations, as determined in
    accordance with GAAP, and operations or businesses disposed of
    prior to the Calculation Date shall be excluded, but only to the
    extent that the obligations giving rise to such Consolidated
    Interest Expense will not be obligations of the specified Person
    or any of its Restricted Subsidiaries following the Calculation
    Date.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Consolidated Net
Assets&#148;</FONT></I><FONT size="2"> means, with respect to
any specified Person as of any date, the total assets of such
Person as of such date less (1)&nbsp;the total liabilities of
such Person as of such date, (2)&nbsp;the amount of any
Disqualified Stock as of such date, and (3)&nbsp;any minority
interests reflected on the balance sheet of such Person as of
such date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Consolidated Net
Income&#148;</FONT></I><FONT size="2"> means, with respect to
any specified Person for any period, the aggregate of the Net
Income of such Person and its Restricted Subsidiaries for such
period, on a consolidated basis, determined in accordance with
GAAP; <I>provided </I>that:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;the Net Income (but not loss) of any
    Person that is not a Restricted Subsidiary or that is accounted
    for by the equity method of accounting shall be included only to
    the extent of the amount of dividends or distributions paid in
    cash to the specified Person or a Restricted Subsidiary thereof;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;the Net Income of any Restricted
    Subsidiary shall be excluded to the extent that the declaration
    or payment of dividends or similar distributions by that
    Restricted Subsidiary of that Net Income is not at the date of
    determination permitted without any prior governmental approval
    (that has not been obtained) or, directly or indirectly, by
    operation of the terms of its charter or any agreement,
    instrument, judgment, decree, order, statute, rule or
    governmental regulation applicable to that Restricted Subsidiary
    or its stockholders;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;the Net Income of any Person acquired in
    a pooling of interests transaction for any period prior to the
    date of such acquisition shall be excluded;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;the Net Income (but not loss) of any
    Unrestricted Subsidiary shall be excluded, whether or not
    distributed to the specified Person or one of its
    Subsidiaries;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;the cumulative effect of a change in
    accounting principles shall be excluded.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">54
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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Continuing
Directors&#148;</FONT></I><FONT size="2"> means, as of any date
of determination, any member of the Board of Directors who:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;was a member of such Board of Directors
    on the date of the Indenture;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;was nominated for election or elected to
    such Board of Directors with the approval of a majority of the
    Continuing Directors who were members of such Board at the time
    of such nomination or election.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Credit
Facilities&#148;</FONT></I><FONT size="2"> means, with respect
to Amkor or any Subsidiary, one or more debt facilities or
commercial paper facilities with banks or other institutional
lenders providing for revolving credit loans, term loans,
receivables financing (including through the sale of receivables
to such lenders or to special purpose entities formed to borrow
from such lenders against such receivables) or letters of
credit, in each case, as amended, restated, modified, renewed,
refunded, replaced or refinanced in whole or in part from time
to time.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Default&#148;</FONT></I><FONT size="2">
means any event that is, or with the passage of time or the
giving of notice or both would be, an Event of Default.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Disqualified
Stock&#148;</FONT></I><FONT size="2"> means any Capital Stock
that, by its terms (or by the terms of any security into which
it is convertible, or for which it is exchangeable, in each case
at the option of the holder thereof), or upon the happening of
any event, matures or is mandatorily redeemable, pursuant to a
sinking fund obligation or otherwise, or redeemable at the
option of the holder thereof, in whole or in part, on or prior
to the date that is 91&nbsp;days after the date on which the
Notes mature. Notwithstanding the preceding sentence, any
Capital Stock that would constitute Disqualified Stock solely
because the holders thereof have the right to require Amkor to
repurchase such Capital Stock upon the occurrence of a change of
control or an asset sale shall not constitute Disqualified Stock
if the terms of such Capital Stock provide that Amkor may not
repurchase or redeem any such Capital Stock pursuant to such
provisions unless such repurchase or redemption complies with
the covenant described above under the caption
&#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Restricted
Payments.&#148;
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Domestic
Subsidiary&#148;</FONT></I><FONT size="2"> means a Restricted
Subsidiary that is (1)&nbsp;formed under the laws of the United
States of America or a state or territory thereof or (2)&nbsp;as
of the date of determination, treated as a domestic entity or a
partnership or a division of a domestic entity for United States
federal income tax purposes; and, in either case, is not owned,
directly or indirectly, by an entity that is not described in
clause&nbsp;(1) or (2)&nbsp;above.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Equity
Interests&#148;</FONT></I><FONT size="2"> means Capital Stock
and all warrants, options or other rights to acquire Capital
Stock (but excluding any debt security that is convertible into,
or exchangeable for, Capital Stock).
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Equity
Offering&#148;</FONT></I><FONT size="2"> means any offering for
cash of common stock of Amkor or options, warrants or rights
with respect to its common stock so long as shares of the common
stock of Amkor remain listed on a national securities exchange
or quoted on the National Association of Securities Dealers
Automated Quotation System.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Existing
Indebtedness&#148;</FONT></I><FONT size="2"> means Indebtedness
of Amkor and its Restricted Subsidiaries in existence on the
date of the Indenture, until such amounts are repaid.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Foreign
Subsidiary&#148;</FONT></I><FONT size="2"> means a Subsidiary of
Amkor that is not a Domestic Subsidiary.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Foundry
Agreement&#148;</FONT></I><FONT size="2"> means that certain
Foundry Agreement dated as of January&nbsp;1, 1998, among Amkor,
our predecessor company (Amkor Electronics, Inc.), Amkor
Technology Limited (f/k/a C.I.L. Limited), ASI and Anam USA,
Inc., as the same may be extended or renewed from time to time
without alteration of the material terms thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;GAAP&#148;</FONT></I><FONT size="2">
means generally accepted accounting principles set forth in the
opinions and pronouncements of the Accounting Principles Board
of the American Institute of Certified Public Accountants and
statements and pronouncements of the Financial Accounting
Standards Board or in such other statements by such other entity
as have been approved by a significant segment of the accounting
profession, which are in effect from time to time.
</FONT>

<P align="center"><FONT size="2">55
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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Guarantee&#148;</FONT></I><FONT size="2">
means a guarantee other than by endorsement of negotiable
instruments for collection in the ordinary course of business,
direct or indirect, in any manner, including, without
limitation, through letters of credit or reimbursement
agreements in respect thereof, of all or any part of any
Indebtedness.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Guarantor&#148;</FONT></I><FONT size="2">
means any future Domestic Subsidiary of Amkor formed or
capitalized after the date of the Indenture that is a
Significant Subsidiary and that is required by the terms of the
Indenture to execute a Subsidiary Guarantee, in accordance with
the provisions of the Indenture, and its successors and assigns.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Hedging
Obligations&#148;</FONT></I><FONT size="2"> means, with respect
to any Person, the Obligations of such Person under:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;swap agreements, cap agreements and
    collar agreements relating to interest rates, commodities or
    currencies;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;other agreements or arrangements
    designed to protect such Person against fluctuations in interest
    rates, commodities or currencies.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;holder&#148;</FONT></I><FONT size="2">
means the Person in whose name a Note is registered.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Indebtedness&#148;</FONT></I><FONT size="2">
means, with respect to any specified Person, any indebtedness of
such Person, whether or not contingent, in respect of:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;borrowed money;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;bonds, notes, debentures or similar
    instruments or letters of credit (or reimbursement agreements in
    respect thereof);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;banker&#146;s acceptances;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;Capital Lease Obligations;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;the balance deferred and unpaid of the
    purchase price of any property, except any such balance that
    constitutes an accrued expense or trade payable;&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(6)&nbsp;Hedging Obligations,
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">if and to the extent any of such indebtedness
(other than letters of credit and Hedging Obligations) would
appear as a liability on a balance sheet of the specified Person
prepared in accordance with GAAP. In addition, the term
&#147;Indebtedness&#148; includes all Indebtedness of others
secured by a Lien on any asset of the specified Person (whether
or not such Indebtedness is assumed by the specified Person
measured as the lesser of the fair market value of the assets of
such Person so secured or the amount of such Indebtedness) and,
to the extent not otherwise included, the Guarantee by such
Person of any indebtedness of any other Person.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The amount of any Indebtedness outstanding as of
any date shall be the accreted value thereof, in the case of any
Indebtedness issued with original issue discount. In addition,
the amount of any Indebtedness shall also include the amount of
all Obligations of such Person with respect to the redemption,
repayment or other repurchase of any Disqualified Stock or, with
respect to any Restricted Subsidiary of Amkor, any preferred
stock of such Restricted Subsidiary.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Intellectual Property Rights Licensing
Agreement&#148;</FONT></I><FONT size="2"> means that certain
Intellectual Property Rights Licensing Agreement to be entered
into by and between Amkor and ASI in connection with the Asset
Purchase Agreement, as the same may be extended or renewed from
time to time without alteration of the material terms thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Investments&#148;</FONT></I><FONT size="2">
means, with respect to any Person, all investments by such
Person in other Persons (including Affiliates) in the forms of
direct or indirect loans (including Guarantees of Indebtedness
or other obligations), advances or capital contributions
(excluding commission, travel and similar advances to officers
and employees made in the ordinary course of business),
purchases or other acquisitions for consideration of
Indebtedness, Equity Interests or other securities, together
with all items that are or would be classified as investments on
a balance sheet prepared in accordance with GAAP. If Amkor or
any Restricted Subsidiary of Amkor sells or otherwise disposes
of any Equity Interests of any direct or indirect Restricted
Subsidiary of Amkor such that, after giving effect to any such
sale or disposition, such Person is no longer a Restricted
</FONT>

<P align="center"><FONT size="2">56
</FONT>
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<DIV align="left">
<FONT size="2">Subsidiary of Amkor, Amkor shall be deemed to
have made an Investment on the date of any such sale or
disposition equal to the fair market value of the Equity
Interests of such Restricted Subsidiary not sold or disposed of
in an amount determined as provided in the final paragraph of
the covenant described above under the caption
&#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Restricted
Payments.&#148;
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Issue
Date&#148;</FONT></I><FONT size="2"> means the date on which the
Notes are initially issued.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Lien&#148;</FONT></I><FONT size="2">
means, with respect to any asset, any mortgage, lien, pledge,
fixed or floating charge, security interest or encumbrance of
any kind in respect of such asset, whether or not filed,
recorded or otherwise perfected under applicable law, including
any conditional sale or other title retention agreement, any
lease in the nature thereof; <I>provided </I>that the term
&#147;Lien&#148; shall not include any lease properly classified
as an operating lease in accordance with GAAP.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Liquidated
Damages&#148;</FONT></I><FONT size="2"> means all liquidated
damages then owing pursuant to Section&nbsp;5 of the
Registration Rights Agreement.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Make-Whole
Amount&#148;</FONT></I><FONT size="2"> means, in connection with
any optional redemption of any note, the excess, if any, of
(i)&nbsp;the aggregate present value as of the date of such
redemption of each dollar of principal being redeemed and the
amount of interest (exclusive of interest accrued to the
redemption date) that would have been payable in respect of such
dollar if such prepayment had not been made, determined by
discounting, on a semiannual basis, such principal and interest
at the Reinvestment Rate (determined on the Business Day
preceding the date of such redemption) from the respective dates
on which such principal and interest would have been payable if
such payment had not been made, over (ii)&nbsp;the aggregate
principal amount of the notes to be redeemed.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Net
Income&#148;</FONT></I><FONT size="2"> means, with respect to
any Person, the net income (loss) of such Person and its
Restricted Subsidiaries, determined in accordance with GAAP and
before any reduction in respect of preferred stock dividends,
excluding, however:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;any gain (but not loss), together with
    any related provision for taxes on such gain (but not loss),
    realized in connection with (a)&nbsp;any Asset Sale or
    (b)&nbsp;the disposition of any securities by such Person or any
    of its Restricted Subsidiaries or the extinguishment of any
    Indebtedness of such Person or any of its Restricted
    Subsidiaries;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;any extraordinary gain (but not loss),
    together with any related provision for taxes on such
    extraordinary gain (but not loss);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;any gain or loss relating to foreign
    currency translation or exchange;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;any income or loss related to any
    discontinued operation.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Net
Proceeds&#148;</FONT></I><FONT size="2"> means the aggregate
cash proceeds received by Amkor or any of its Restricted
Subsidiaries in respect of any Asset Sale (including, without
limitation, any cash received upon the sale or other disposition
of any non-cash consideration received in any Asset Sale), net
of the direct costs relating to such Asset Sale, including,
without limitation, legal, accounting and investment banking
fees, and sales commissions, and any relocation expenses
incurred as a result thereof, taxes paid or payable as a result
thereof, in each case after taking into account any available
tax credits or deductions and any tax sharing arrangements and
amounts required to be applied to the repayment of Indebtedness,
other than Permitted Bank Debt, secured by a Lien on the asset
or assets that were the subject of such Asset Sale.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Non-Recourse
Debt&#148;</FONT></I><FONT size="2"> means Indebtedness:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;as to which neither Amkor nor any of its
    Restricted Subsidiaries (a)&nbsp;provides credit support of any
    kind (including any obligation that would constitute
    Indebtedness), or (b)&nbsp;is directly or indirectly liable as a
    guarantor or otherwise, other than in the form of a Lien on the
    Equity Interests of an Unrestricted Subsidiary held by Amkor or
    any Restricted Subsidiary in favor of any holder of Non-Recourse
    Debt of such Unrestricted Subsidiary;
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">57
</FONT>

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<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;no default with respect to which
    (including any rights that the holders thereof may have to take
    enforcement action against an Unrestricted Subsidiary) would
    permit upon notice, lapse of time or both any holder of any
    other Indebtedness (other than the Notes) of Amkor or any of its
    Restricted Subsidiaries to declare a default on such other
    Indebtedness or cause the payment thereof to be accelerated or
    payable prior to its stated maturity; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;as to which the lenders have been
    notified in writing that they will not have any recourse to the
    stock or assets of Amkor or any of its Restricted Subsidiaries
    (other than against the Equity Interests of such Unrestricted
    Subsidiary, if any).
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Obligations&#148;</FONT></I><FONT size="2">
means any principal, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities
payable under the documentation governing any Indebtedness.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Permitted Bank
Debt&#148;</FONT></I><FONT size="2"> means Indebtedness incurred
by Amkor or any Restricted Subsidiary other than a Foreign
Subsidiary pursuant to the Credit Facilities, any Receivables
Program, or one or more other term loan and/or revolving credit
or commercial paper facilities (including any letter of credit
subfacilities) entered into with commercial banks and/or
financial institutions, and any replacement, extension, renewal,
refinancing or refunding thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Permitted
Business&#148;</FONT></I><FONT size="2"> means the business of
Amkor and its Subsidiaries, taken as a whole, operated in a
manner consistent with past operations, and any business that is
reasonably related thereto or supplements such business or is a
reasonable extension thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Permitted
holder&#148;</FONT></I><FONT size="2"> means James J. Kim and
his estate, spouse, siblings, ancestors, heirs and lineal
descendants, and spouses of any such Persons, the legal
representatives of any of the foregoing, and the trustee of any
bona fide trust of which one or more of the foregoing are the
principal beneficiaries or the grantors or any other Person that
is controlled by any of the foregoing.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Permitted
Investments&#148;</FONT></I><FONT size="2"> means:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;any Investment in Amkor or in a
    Restricted Subsidiary;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;any Investment in Cash Equivalents;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;any Investment by Amkor or any
    Restricted Subsidiary of Amkor in a Person, if as a result of
    such Investment or in connection with the transaction pursuant
    to which such Investment is made:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(a)&nbsp;such Person becomes a Restricted
    Subsidiary of Amkor; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(b)&nbsp;such Person is merged, consolidated or
    amalgamated with or into, or transfers or conveys substantially
    all of its assets to, or is liquidated into, Amkor or a
    Restricted Subsidiary of Amkor;
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;any Investment made as a result of the
    receipt of non-cash consideration from an Asset Sale that was
    made pursuant to and in compliance with the covenant described
    above under the caption &#147;&#151;&nbsp;Repurchase at the
    Option of Holders&nbsp;&#151; Offer to Repurchase by Application
    of Excess Proceeds of Asset Sales;&#148;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;any acquisition of assets solely in
    exchange for the issuance of Equity Interests (other than
    Disqualified Stock) of Amkor;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(6)&nbsp;any Investment in connection with
    Hedging Obligations;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(7)&nbsp;any Investments received (a)&nbsp;in
    satisfaction of judgments or (b)&nbsp;as payment on a claim made
    in connection with any bankruptcy, liquidation, receivership or
    other insolvency proceeding;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(8)&nbsp;Investments in (a)&nbsp;prepaid expenses
    and negotiable instruments held for collection,
    (b)&nbsp;accounts receivable arising in the ordinary course of
    business (and Investments obtained in exchange or settlement of
    accounts receivable for which Amkor or any Restricted Subsidiary
    has determined that collection is not likely), and
    (c)&nbsp;lease, utility and workers&#146; compensation,
    performance and other similar deposits arising in the ordinary
    course of business;
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">58
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<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(9)&nbsp;any Strategic Investment; <I>provided
    </I>that the aggregate amount of all Investments by Amkor and
    any Restricted Subsidiaries in Strategic Investments shall not
    exceed $100.0&nbsp;million;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(10)&nbsp;Investments purchased or received in
    exchange for Permitted Investments existing as of the Issue Date
    or made thereafter; <I>provided </I>that any additional
    consideration provided by Amkor or any Restricted Subsidiary in
    such exchange shall not be permitted pursuant to this
    clause&nbsp;(10); and <I>provided, further</I>, that such
    purchased or exchanged Investments shall have a fair market
    value (as determined by an officer of Amkor unless such fair
    market value exceeds $25.0&nbsp;million in which case, as
    determined by Amkor&#146;s Board of Directors) equal to or
    exceeding the Permitted Investments exchanged therefor;
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<I><FONT size="2">provided </FONT></I><FONT size="2">that,
notwithstanding the preceding, any extension of credit or
advance by Amkor or any of its Subsidiaries to a customer or
supplier of Amkor or its Subsidiaries shall not be a Permitted
Investment.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Permitted
Liens&#148;</FONT></I><FONT size="2"> means:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;Liens on the assets of Amkor and any
    Restricted Subsidiary securing Permitted Bank Debt that was
    permitted by the terms of the Indenture to be incurred;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;Liens on the assets of any Foreign
    Subsidiary securing Indebtedness and other Obligations under
    Indebtedness of such Foreign Subsidiary that were permitted by
    the terms of the Indenture to be incurred;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;Liens in favor of Amkor or any
    Restricted Subsidiary;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;Liens on property of a Person existing
    at the time such Person is merged with or into or consolidated
    with Amkor or any Restricted Subsidiary of Amkor; <I>provided
    </I>that such Liens were not incurred in contemplation of such
    merger or consolidation and do not extend to any assets other
    than those of the Person merged into or consolidated with Amkor
    or the Restricted Subsidiary;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;Liens on property existing at the time
    of acquisition thereof by Amkor or any Restricted Subsidiary of
    Amkor; <I>provided </I>that such Liens were not incurred in
    contemplation of such acquisition;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(6)&nbsp;Liens to secure the performance of
    statutory obligations, surety or appeal bonds, performance bonds
    or other obligations of a like nature incurred in the ordinary
    course of business;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(7)&nbsp;Liens to secure Obligations in respect
    of Indebtedness (including Capital Lease Obligations) permitted
    by clause&nbsp;(4) of the second paragraph of
    &#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Incurrence of
    Indebtedness and Issuance of Preferred Stock&#148; covering only
    the assets acquired with such Indebtedness, including
    accessions, additions, parts, attachments, improvements,
    fixtures, leasehold improvements or proceeds, if any, related
    thereto;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(8)&nbsp;Liens existing on the date of this
    Indenture;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(9)&nbsp;Liens securing Obligations of Amkor
    and/or any Restricted Subsidiary in respect of any Receivables
    Program;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(10)&nbsp;Liens for taxes, assessments or
    governmental charges or claims that are not yet delinquent or
    that are being contested in good faith by appropriate
    proceedings; <I>provided </I>that any reserve or other
    appropriate provision as shall be required in conformity with
    GAAP shall have been made therefor;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(11)&nbsp;Liens imposed by law or arising by
    operation of law, including, without limitation,
    landlords&#146;, mechanics&#146;, carriers&#146;,
    warehousemen&#146;s, materialmen&#146;s, suppliers&#146; and
    vendors&#146; Liens, Liens for master&#146;s and crew&#146;s
    wages and other similar Liens, in each case that are incurred in
    the ordinary course of business for sums not yet delinquent or
    being contested in good faith, if such reserves or other
    appropriate provisions, if any, as shall be required by GAAP
    shall have been made with respect thereto;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(12)&nbsp;Liens incurred or pledges and deposits
    made in the ordinary course of business in connection with
    workers&#146; compensation and unemployment insurance and other
    types of social security;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(13)&nbsp;Liens to secure any extension, renewal,
    refinancing or refunding (or successive extensions, renewals,
    refinancings or refundings), in whole or in part, of any
    Indebtedness secured by Liens referred
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">59
</FONT>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">to in the foregoing clauses&nbsp;(4), (5),
    (7)&nbsp;and (8) of this definition; <I>provided </I>that such
    Liens do not extend to any other property of Amkor or any
    Restricted Subsidiary of Amkor and the principal amount of the
    Indebtedness secured by such Lien is not increased;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(14)&nbsp;judgment Liens not giving rise to an
    Event of Default so long as such Lien is adequately bonded and
    any appropriate legal proceedings that may have been initiated
    for the review of such judgment, decree or order shall not have
    been finally terminated or the period within which such
    proceedings may be initiated shall not have expired;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(15)&nbsp;Liens securing obligations of Amkor
    under Hedging Obligations permitted to be incurred under
    clause&nbsp;(7) of the second paragraph of
    &#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Incurrence of
    Indebtedness and Issuance of Preferred Stock&#148; or any
    collateral for the Indebtedness to which such Hedging
    Obligations relate;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(16)&nbsp;Liens upon specific items of inventory
    or other goods and proceeds of any Person securing such
    Person&#146;s obligations in respect of banker&#146;s
    acceptances issued or credited for the account of such Person to
    facilitate the purchase, shipment or storage of such inventory
    or goods;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(17)&nbsp;Liens securing reimbursement
    obligations with respect to commercial letters of credit which
    encumber documents and other property relating to such letters
    of credit and products and proceeds thereof;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(18)&nbsp;Liens arising out of consignment or
    similar arrangements for the sale of goods in the ordinary
    course of business;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(19)&nbsp;Liens in favor of customs and revenue
    authorities arising as a matter of law to secure payment of
    customs duties in connection with the importation of goods;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(20)&nbsp;Liens securing other Indebtedness not
    exceeding $10.0&nbsp;million at any time outstanding;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(21)&nbsp;Liens securing Permitted Refinancing
    Indebtedness, <I>provided </I>that such Liens do not extend to
    any other property of Amkor or any Restricted Subsidiary of
    Amkor and the principal amount of the Indebtedness secured by
    such Lien is not increased; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(22)&nbsp;Liens on the Equity Interests of
    Unrestricted Subsidiaries securing obligations of Unrestricted
    Subsidiaries not otherwise prohibited by the Indenture.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Permitted Refinancing
Indebtedness&#148;</FONT></I><FONT size="2"> means any
Indebtedness of Amkor or any of its Restricted Subsidiaries
issued in exchange for, or the net proceeds of which are used to
extend, refinance, renew, replace, defease or refund other
Indebtedness of Amkor or any of its Restricted Subsidiaries
(other than intercompany Indebtedness); <I>provided </I>that:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;the principal amount (or accreted value,
    if applicable) of such Permitted Refinancing Indebtedness does
    not exceed the principal amount of (or accreted value, if
    applicable), plus accrued interest or premium (including any
    make-whole premium), if any, on, the Indebtedness so extended,
    refinanced, renewed, replaced, defeased or refunded (plus the
    amount of reasonable expenses incurred in connection therewith);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;such Permitted Refinancing Indebtedness
    has a final maturity date later than the final maturity date of,
    and has a Weighted Average Life to Maturity equal to or greater
    than the Weighted Average Life to Maturity of, the Indebtedness
    being extended, refinanced, renewed, replaced, defeased or
    refunded; <I>provided </I>that if the original maturity date of
    such Indebtedness is after the Stated Maturity of the Notes,
    then such Permitted Refinancing Indebtedness shall have a
    maturity at least 180&nbsp;days after the Notes;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;if the Indebtedness being extended,
    refinanced, renewed, replaced, defeased or refunded is
    subordinated in right of payment to the Notes, such Permitted
    Refinancing Indebtedness has a final maturity date later than
    the final maturity date of, and is subordinated in right of
    payment to, the Notes on terms at least as favorable to the
    holders of Notes as those contained in the documentation
    governing the Indebtedness being extended, refinanced, renewed,
    replaced, defeased or refunded;&nbsp;and
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">60
</FONT>

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<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;such Indebtedness is incurred either by
    Amkor or by the Restricted Subsidiary who is the obligor on the
    Indebtedness being extended, refinanced, renewed, replaced,
    defeased or refunded.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Person&#148;</FONT></I><FONT size="2">
means any individual, corporation, partnership, joint venture,
association, joint stock company, trust, unincorporated
organization, or government or any agency or political
subdivision thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Qualified
Proceeds&#148;</FONT></I><FONT size="2"> means any of the
following or any combination of the following:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;(1)&nbsp;any Cash Equivalents other than
    (a)&nbsp;currency of any sovereign nation other than the United
    States and (b)&nbsp;certificates of deposit, eurodollar time
    deposits, bankers&#146; acceptances and overnight bank deposits
    with any commercial bank organized under the laws of a foreign
    country;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;any liabilities (as would be shown on
    Amkor&#146;s or such Restricted Subsidiary&#146;s balance sheet
    if prepared in accordance with GAAP on the date of the
    corresponding Asset Sale) of Amkor or any Restricted Subsidiary
    (other than contingent liabilities and liabilities that are by
    their terms subordinated to the Notes) that are assumed by the
    transferee of any such assets pursuant to a customary novation
    agreement that releases or indemnifies Amkor or such Restricted
    Subsidiary from further liability;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;any securities, notes or other
    obligations received by Amkor or any such Restricted Subsidiary
    from such transferee that are converted by Amkor or such
    Restricted Subsidiary into cash within 90&nbsp;days after such
    Asset Sale (to the extent of the cash received in that
    conversion);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;long-term assets that are used or useful
    in a Permitted Business;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;all or substantially all of the assets
    of, or a majority of the Voting Stock of, any Permitted Business;
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<I><FONT size="2">provided, however</FONT></I><FONT size="2">,
that in the case of clauses&nbsp;(4) and (5)&nbsp;above, the
Asset Sale transaction shall be with a non-Affiliate and the
amount of long-term assets or Voting Stock received in the Asset
Sale transaction shall not exceed 10% of the consideration
received.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Receivables
Program&#148;</FONT></I><FONT size="2"> means, with respect to
any Person, an agreement or other arrangement or program
providing for the advance of funds to such Person against the
pledge, contribution, sale or other transfer of encumbrances of
Receivables Program Assets of such Person or such Person and/or
one or more of its Subsidiaries.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Receivables Program
Assets&#148;</FONT></I><FONT size="2"> means all of the
following property and interests in property, including any
undivided interest in any pool of any such property or
interests, whether now existing or existing in the future or
hereafter arising or acquired:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;accounts;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;accounts receivable, general
    intangibles, instruments, contract rights, documents and chattel
    paper (including, without limitation, all rights to payment
    created by or arising from sales of goods, leases of goods, or
    the rendition of services, no matter how evidenced, whether or
    not earned by performance);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;all unpaid seller&#146;s or
    lessor&#146;s rights (including, without limitation, rescission,
    replevin, reclamation and stoppage in transit) relating to any
    of the foregoing or arising therefrom;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;all rights to any goods or merchandise
    represented by any of the foregoing (including, without
    limitation, returned or repossessed goods);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(5)&nbsp;all reserves and credit balances with
    respect to any such accounts receivable or account debtors;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(6)&nbsp;all letters of credit, security or
    Guarantees of any of the foregoing;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(7)&nbsp;all insurance policies or reports
    relating to any of the foregoing;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(8)&nbsp;all collection or deposit accounts
    relating to any of the foregoing;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(9)&nbsp;all books and records relating to any of
    the foregoing;
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">61
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<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(10)&nbsp;all instruments, contract rights,
    chattel paper, documents and general intangibles relating to any
    of the foregoing;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(11)&nbsp;all proceeds of any of the foregoing.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Receivables Program
Debt&#148;</FONT></I><FONT size="2"> means, with respect to any
Person, the unreturned portion of the amount funded by the
investors under a Receivables Program of such Person.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Registration Rights
Agreement&#148;</FONT></I><FONT size="2"> means the Registration
Rights Agreement by and among us and the initial purchasers, as
such agreement may be amended, modified or supplemented from
time to time.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Reinvestment
Rate&#148;</FONT></I><FONT size="2"> means 0.50% plus the
arithmetic mean of the yields under the respective headings
&#147;This Week&#148; and &#147;Last Week&#148; published in the
Statistical Release under the caption &#147;Treasury Constant
Maturities&#148; for the maturity (rounded to the nearest month)
corresponding to the maturity of the principal being prepaid. If
no maturity exactly corresponds to such maturity, yields for the
two published maturities most closely corresponding to such
maturity shall be calculated pursuant to the immediately
preceding sentence and the Reinvestment Rate shall be
interpolated or extrapolated from such yields on a straight-line
basis, rounding in each of such relevant periods to the nearest
month. For the purpose of calculating the Reinvestment Rate, the
most recent Statistical Release published prior to the date of
determination of the Make-Whole Amount shall be used.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Restricted
Investment&#148;</FONT></I><FONT size="2"> means an Investment
other than a Permitted Investment.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Restricted
Subsidiary&#148;</FONT></I><FONT size="2"> of a Person means any
Subsidiary of the referent Person that is not an Unrestricted
Subsidiary.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Significant
Subsidiary&#148;</FONT></I><FONT size="2"> means any Subsidiary
that would be a &#147;significant subsidiary&#148; as defined in
Article&nbsp;1, Rule&nbsp;1-02 of Regulation&nbsp;S-X,
promulgated by the SEC, as such Regulation is in effect on the
date hereof assuming that Amkor were the &#147;registrant&#148;
for purposes of such definition; <I>provided </I>that in no
event shall a &#147;Significant Subsidiary&#148; include
(i)&nbsp;any direct or indirect Subsidiary of Amkor created for
the primary purpose of facilitating one or more Receivables
Programs or holding or purchasing inventory, (ii)&nbsp;any
non-operating Subsidiary which does not have any liabilities to
Persons other than Amkor or its Subsidiaries, or (iii)&nbsp;any
Unrestricted Subsidiary.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Stated
Maturity&#148;</FONT></I><FONT size="2"> means, with respect to
any installment of interest or principal on any series of
Indebtedness, the date on which such payment of interest or
principal was scheduled to be paid in the original documentation
governing such Indebtedness, and shall not include any
contingent obligations to repay, redeem or repurchase any such
interest or principal prior to the date originally scheduled for
the payment thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Statistical
Release&#148;</FONT></I><FONT size="2"> means the statistical
release designated &#147;H.15(519)&#148; or any successor
publication which is published weekly by the Federal Reserve
System and which establishes yields on actively traded
U.S.&nbsp;government securities adjusted to constant maturities
or, if such statistical release is not published at the time of
any determination under the Indenture, then such other
reasonably comparable index which shall be designated by the
Company.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Strategic
Investment&#148;</FONT></I><FONT size="2"> means any Investment
in any Person (other than an Unrestricted Subsidiary) whose
primary business is related, ancillary or complementary to a
Permitted Business, and such Investment is determined in good
faith by the Board of Directors (or senior officers of Amkor to
whom the Board of Directors has duly delegated the authority to
make such a determination), whose determination shall be
conclusive and evidenced by a resolution, to promote or
significantly benefit the businesses of Amkor and its Restricted
Subsidiaries on the date of such Investment; <I>provided
</I>that, with respect to any Strategic Investment or series of
related Strategic Investments involving aggregate consideration
in excess of $10&nbsp;million, Amkor shall deliver to the
Trustee a resolution of the Board of Directors of Amkor set
forth in an Officer&#146;s Certificate certifying that such
Investment qualifies as a Strategic Investment pursuant to this
definition.
</FONT>

<P align="center"><FONT size="2">62
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Subsidiary&#148;</FONT></I><FONT size="2">
means, with respect to any Person:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;any corporation, association or other
    business entity of which more than 50% of the total voting power
    of shares of Capital Stock entitled (without regard to the
    occurrence of any contingency) to vote in the election of
    directors, managers or trustees thereof is at the time owned or
    controlled, directly or indirectly, by such Person or one or
    more of the other Subsidiaries of that Person (or a combination
    thereof);&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;any partnership (a)&nbsp;the sole
    general partner or the managing general partner of which is such
    Person or a Subsidiary of such Person or (b)&nbsp;the only
    general partners of which are such Person or of one or more
    Subsidiaries of such Person (or any combination thereof).
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Subsidiary
Guarantee&#148;</FONT></I><FONT size="2"> means a Guarantee
endorsed on the Notes by a Guarantor.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Supply
Agreement&#148;</FONT></I><FONT size="2"> means that certain
Packaging&nbsp;&#38; Test Services Agreement dated as of
January&nbsp;1, 1998, among Amkor, our predecessor company
(Amkor Electronics, Inc.), Amkor Technology Limited (f/k/a
C.I.L. Limited), ASI and Anam USA, Inc., as the same may be
extended or renewed from time to time without alteration of the
material terms thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Total Tangible Assets of the Foreign
Subsidiaries&#148;</FONT></I><FONT size="2"> means, as of any
date, the total assets of the Foreign Subsidiaries of Amkor as
of such date less the amount of the intangible assets of the
Foreign Subsidiaries of Amkor as of such date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Transition Services
Agreement&#148;</FONT></I><FONT size="2"> means that certain
Transition Services Agreement entered into by and between Amkor
and ASI in connection with the Asset Purchase Agreement, as the
same may be extended or renewed from time to time without
alteration of the material terms thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Unrestricted
Subsidiary&#148;</FONT></I><FONT size="2"> means any Subsidiary
of Amkor that is designated by the Board of Directors as an
Unrestricted Subsidiary pursuant to a Board resolution, but only
to the extent that such Subsidiary:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;has no Indebtedness other than
    Non-Recourse Debt;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;is a Person with respect to which
    neither Amkor nor any of its Restricted Subsidiaries has any
    direct or indirect obligation (a)&nbsp;to subscribe for
    additional Equity Interests or (b)&nbsp;to maintain or preserve
    such Person&#146;s financial condition or to cause such Person
    to achieve any specified levels of operating results;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;has not guaranteed or otherwise directly
    or indirectly provided credit support for any Indebtedness of
    Amkor or any of its Restricted Subsidiaries;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;has at least one director on its Board
    of Directors that is not a director or executive officer of
    Amkor or any of its Restricted Subsidiaries and has at least one
    executive officer that is not a director or executive officer of
    Amkor or any of its Restricted Subsidiaries.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Any designation of a Subsidiary of Amkor as an
Unrestricted Subsidiary shall be evidenced to the Trustee by
filing with the Trustee a certified copy of the Board resolution
giving effect to such designation and an Officer&#146;s
Certificate certifying that such designation complied with the
preceding conditions and was permitted under
&#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Restricted
Payments.&#148; If, at any time, any Unrestricted Subsidiary
would fail to meet the preceding requirements as an Unrestricted
Subsidiary, it shall thereafter cease to be an Unrestricted
Subsidiary for purposes of the Indenture and any Indebtedness of
such Subsidiary shall be deemed to be incurred by a Restricted
Subsidiary of Amkor as of such date and, if such Indebtedness is
not permitted to be incurred as of such date under
&#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Incurrence of
Indebtedness and Issuance of Preferred Stock,&#148; Amkor shall
be in default of such covenant. The Board of Directors of Amkor
may at any time designate any Unrestricted Subsidiary to be a
Restricted Subsidiary; <I>provided </I>that such designation
shall be deemed to be an incurrence of Indebtedness by a
Restricted Subsidiary of Amkor of any outstanding Indebtedness
of such Unrestricted Subsidiary and such designation shall only
be permitted if (1)&nbsp;such Indebtedness is permitted under
&#147;&#151;&nbsp;Certain Covenants&nbsp;&#151; Incurrence of
Indebtedness and Issuance of Preferred Stock,&#148; calculated
on a pro forma basis as if such designation had occurred at the
beginning of the
</FONT>

<P align="center"><FONT size="2">63
</FONT>

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<DIV align="left">
<FONT size="2">four-quarter reference period, and (2)&nbsp;no
Default or Event of Default would be in existence following such
designation.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Voting
Stock&#148;</FONT></I><FONT size="2"> of any Person as of any
date means the Capital Stock of such Person that is at the time
entitled to vote in the election of the Board of Directors of
such Person.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Weighted Average Life to
Maturity&#148;</FONT></I><FONT size="2"> means, when applied to
any Indebtedness at any date, the number of years obtained by
dividing:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;the sum of the products obtained by
    multiplying (a)&nbsp;the amount of each then remaining
    installment, sinking fund, serial maturity or other required
    payments of principal, including payment at final maturity, in
    respect thereof, by (b)&nbsp;the number of years (calculated to
    the nearest one-twelfth) that will elapse between such date and
    the making of such payment; by
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;the then outstanding principal amount of
    such Indebtedness.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">&#147;Wholly Owned Restricted
Subsidiary&#148;</FONT></I><FONT size="2"> of any Person means a
Restricted Subsidiary of such Person all of the outstanding
Capital Stock or other ownership interests of which (other than
directors&#146; qualifying shares or similar shares required by
law to be held by third parties) shall at the time be owned by
such Person and/or by one or more Wholly Owned Restricted
Subsidiaries of such Person.
</FONT>

<P align="left">
<B><FONT size="2">Additional Terms of the Exchange
Notes</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The terms of the exchange notes will be identical
in all material respects to those of the original notes except
that the exchange notes:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">will have been registered under the Securities
    Act and therefore will not be subject to certain restrictions on
    transfer applicable to the original notes;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">will not be entitled to certain registration
    rights under the Registration Rights Agreement, including the
    provision for Liquidated Damages of up to 1.00%&nbsp;per annum
    on the original notes.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Holders of original notes should review the
information set forth under &#147;Risk Factors&#148; and
&#147;The Exchange Offer&nbsp;&#151; Consequences of Failure to
Exchange.&#148;
</FONT>

<P align="center"><FONT size="2">64
</FONT>

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<DIV align="left">
<FONT size="2"> <A name='111'></A>
</FONT>
</DIV>

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<P align="center">
<B><FONT size="2">BOOK-ENTRY; DELIVERY AND FORM</FONT></B>

<P align="left">
<B><FONT size="2">The Global Securities</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The original notes are, and the exchange notes
will be, issued in the form of one or more global certificates,
known as &#147;global securities.&#148; The global securities
will be deposited on the date of the acceptance for exchange of
the original notes and the issuance of the exchange notes with,
or behalf of, DTC and registered in the name of Cede&nbsp;&#38;
Co., as DTC&#146;s nominee.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Exchange notes that are issued as described below
under &#147;Issuance of Certificated Securities&#148; will be
issued in the form of registered definitive certificates, known
as &#147;certificated securities.&#148; Upon the transfer of
certificated securities, such certificated securities may,
unless the global securities have previously been exchanged for
certificated securities, be exchanged for an interest in the
global securities representing the principal amount of exchange
notes being transferred.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Persons holding interests in the global
securities may hold their interests directly through DTC or
indirectly through organizations that are participants in DTC.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The descriptions of the operations and procedures
of DTC, Euroclear and Clearstream set forth below are provided
solely as a matter of convenience. These operations and
procedures are solely within the control of the respective
settlement systems and are subject to change by them from time
to time. Neither we, the trustee, nor any paying agent or
registrar takes any responsibility for these operations or
procedures, and holders of securities are urged to contact the
relevant system or its participants directly to discuss these
matters.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">DTC has advised us that it is (1)&nbsp;a limited
purpose trust company organized under the laws of the State of
New York, (2)&nbsp;a &#147;banking organization&#148; within the
meaning of the New York Banking Law, (3)&nbsp;a member of the
Federal Reserve System, (4)&nbsp;a &#147;clearing
corporation&#148; within the meaning of the Uniform Commercial
Code, as amended, and (5)&nbsp;a &#147;clearing agency&#148;
registered pursuant to Section&nbsp;17A of the Exchange Act. DTC
was created to hold securities for its participants and
facilitates the clearance and settlement of securities
transactions between participants through electronic book-entry
changes to the accounts of its participants, thereby eliminating
the need for physical transfer and delivery of certificates.
DTC&#146;s participants include securities brokers and dealers,
including the initial purchasers, banks and trust companies,
clearing corporations and certain other organizations. Indirect
access to DTC&#146;s system is also available to other entities
such as banks, brokers, dealers and trust companies, referred to
as &#147;indirect participants,&#148; that clear through or
maintain a custodial relationship with a participant, either
directly or indirectly. Investors who are not participants may
beneficially own securities held by or on behalf of DTC only
through participants or indirect participants.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Ownership of the exchange notes will be shown on,
and the transfer of ownership thereof will be effected only
through, records maintained by DTC, with respect to the
interests of participants, and the records of participants and
the indirect participants, with respect to the interests of
persons other than participants.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The laws of some jurisdictions may require that
some types of purchasers of exchange notes take physical
delivery of the securities in definitive form. Accordingly, the
ability to transfer interests in exchange notes represented by a
global security to these persons may be limited. In addition,
because DTC can act only on behalf of its participants, who in
turn act on behalf of persons who hold interests through
participants, the ability of a person having an interest in
securities represented by a global security to pledge or
transfer the interest to persons or entities that do not
participate in DTC&#146;s system, or to otherwise take actions
in respect of the interest, may be affected by the lack of a
physical definitive security in respect of the interest.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">So long as DTC or its nominee is the registered
owner of a global security, DTC or such nominee, as the case may
be, will be considered the sole owner or holder of the exchange
notes represented by the global security for all purposes under
the indenture. Except as provided below, owners of beneficial
interests in a global security will not be entitled to have
securities represented by the global security registered in
their names, will not receive or be entitled to receive physical
delivery of certificated securities, and will not be considered
the owners or holders thereof under the indenture for any
purpose, including with respect to the
</FONT>

<P align="center"><FONT size="2">65
</FONT>
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<DIV align="left">
<FONT size="2">giving of any direction, instruction or approval
to the trustee under the indenture. Accordingly, each holder
owning a beneficial interest in a global security must rely on
the procedures of DTC and, if the holder is not a participant or
an indirect participant, on the procedures of the participant
through which the holder owns its interest, to exercise any
rights of a holder of exchange notes under the indenture or the
global security.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We understand that under existing industry
practice, in the event that we request any action of holders of
exchange notes, or a holder that is an owner of a beneficial
interest in a global security desires to take any action that
DTC, as the holder of such global security, is entitled to take,
DTC would authorize the participants to take the action and the
participants would authorize holders owning through the
participants to take the action or would otherwise act upon the
instruction of the holders. Neither we nor the trustee will have
any responsibility or liability for any aspect of the records
relating to, or payments made on account of securities by, DTC,
or for maintaining, supervising or reviewing any records of DTC
relating to the exchange notes.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Payments with respect to the principal of, and
premium, if any, and interest on, any exchange notes represented
by a global security registered in the name of DTC or its
nominee on the applicable record date will be payable by the
trustee to or at the direction of DTC or its nominee in its
capacity as the registered holder of the global security
representing the exchange notes under the indenture. Under the
terms of the Indenture, we may treat, and the trustee may treat,
the persons in whose names the exchange notes, including the
global securities, are registered as the owners of the exchange
notes for the purpose of receiving payment on the exchange notes
and for any and all other purposes whatsoever. Accordingly,
neither we nor the trustee has or will have any responsibility
or liability for the payment of these amounts to owners of
beneficial interests in the global security, including
principal, premium, if any, and interest. Payments by the
participants and the indirect participants to the owners of
beneficial interests in the global securities will be governed
by standing instructions and customary industry practice and
will be the responsibility of the participants or the indirect
participants and DTC.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Transfers between participants in DTC will be
effected in accordance with DTC&#146;s procedures, and will be
settled in same-day funds. Transfers between participants in
Euroclear or Clearstream will be effected in the ordinary way in
accordance with their respective rules and operating procedures.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Subject to compliance with the transfer
restrictions applicable to the securities, cross-market
transfers between the participants in DTC, on the one hand, and
Euroclear or Clearstream participants, on the other hand, will
be effected through DTC in accordance with DTC&#146;s rules on
behalf of Euroclear or Clearstream, as the case may be, by its
respective depositary; however, such cross-market transactions
will require delivery of instructions to Euroclear or
Clearstream, as the case may be, by the counterparty in the
system in accordance with the rules and procedures and within
the established deadlines (Brussels time) of the system.
Euroclear or Clearstream, as the case may be, will, if the
transaction meets its settlement requirements, deliver
instructions to its respective depositary to take action to
effect final settlement on its behalf by delivering or receiving
interests in the relevant global securities in DTC, and making
or receiving payment in accordance with normal procedures for
same-day funds settlement applicable to DTC. Euroclear
participants and Clearstream participants may not deliver
instructions directly to the depositaries for Euroclear or
Clearstream.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Because of time zone differences, the securities
account of a Euroclear or Clearstream participant purchasing an
interest in a global security from a participant in DTC will be
credited, and any such crediting will be reported to the
relevant Euroclear or Clearstream participant, during the
securities settlement processing day, which must be a business
day for Euroclear and Clearstream, immediately following the
settlement date of DTC. Cash received in Euroclear or
Clearstream as a result of the sale of an interest in a global
security by or through a Euroclear or Clearstream participant to
a participant in DTC will be received with value on the
settlement date of DTC but will be available in the relevant
Euroclear or Clearstream cash account only as of the business
day for Euroclear or Clearstream following DTC&#146;s settlement
date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Although DTC, Euroclear and Clearstream have
agreed to the foregoing procedures to facilitate transfers of
interests in the global securities among participants in DTC,
Euroclear and Clearstream, they are under no obligation to
perform or to continue to perform such procedures, and such
procedures may be discontinued at any time. Neither we nor the
trustee will have any responsibility for the performance by DTC,
Euroclear or
</FONT>

<P align="center"><FONT size="2">66
</FONT>

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<DIV align="left">
<FONT size="2">Clearstream or their respective participants or
indirect participants of their respective obligations under the
rules and procedures governing their operations.
</FONT>
</DIV>

<P align="left">
<B><FONT size="2">Issuance of Certificated Securities</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If (1)&nbsp;we notify the trustee in writing that
DTC, Euroclear or Clearstream is no longer willing or able to
act as a depositary or clearing system for the exchange notes or
DTC ceases to be registered as a clearing agency under the
Exchange Act, and a successor depositary or clearing system is
not appointed within 90&nbsp;days of this notice or cessation,
(2)&nbsp;we, at our option, notify the trustee in writing that
we elect to cause the issuance of exchange notes in definitive
form under the indenture, or (3)&nbsp;upon the occurrence and
continuation of an event of default under the indenture with
respect to any series of exchange notes, then, upon surrender by
DTC of the global securities, certificated securities will be
issued to each person that DTC identifies as the beneficial
owner of the exchange notes represented by the global
securities. Upon any such issuance, the trustee is required to
register the certificated securities in the name of the person
or persons or the nominee of any of these persons and cause the
same to be delivered to these persons.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Neither we nor the trustee shall be liable for
any delay by DTC or any participant or indirect participant in
identifying the beneficial owners of the related exchange notes
and each such person may conclusively rely on, and shall be
protected in relying on, instructions from DTC for all purposes,
including with respect to the registration and delivery, and the
respective principal amounts, of the exchange notes to be issued.
</FONT>

<P align="center"><FONT size="2">67
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<DIV align="left">
<A name='112'></A>
</DIV>

<!-- link1 "CERTAIN UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS" -->

<P align="center">
<B><FONT size="2">CERTAIN UNITED STATES FEDERAL INCOME TAX
CONSIDERATIONS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This section summarizes some of the
U.S.&nbsp;federal income tax considerations relating to the
exchange of original notes for exchange notes in the exchange
offer and the ownership and disposition of the exchange notes.
This summary does not provide a complete analysis of all
potential tax considerations. The information provided below is
based on existing authorities. These authorities may change, or
the Internal Revenue Service (the &#147;IRS&#148;) might
interpret the existing authorities differently. In either case,
the tax consequences of exchanging the original notes for
exchange notes and of owning or disposing of exchange notes
could differ from those described below. The summary generally
applies only to &#147;U.S.&nbsp;Holders&#148; that hold the
notes as &#147;capital assets&#148; (generally, for investment).
For this purpose, U.S.&nbsp;Holders include citizens or
residents of the United States and corporations organized under
the laws of the United States or any state, including the
District of Columbia. Trusts are U.S.&nbsp;Holders if they are
subject to the primary supervision of a U.S.&nbsp;court and the
control of one of more U.S.&nbsp;persons. Special rules apply to
beneficial owners of the Notes who are nonresident alien
individuals and foreign corporations or trusts
(&#147;Non-U.S.&nbsp;Holders&#148;). This summary describes
some, but not all, of these special rules. For U.S.&nbsp;federal
income tax purposes, income earned through a foreign or domestic
partnership or other flow-through entity is attributed to its
owners. Accordingly, if a partnership or other flow-through
entity holds exchange notes, the tax treatment will depend on
the status of the partner or other owner and the activities of
the partnership or other entity. The summary generally does not
address tax considerations that may be relevant to particular
investors because of their specific circumstances, or because
they are subject to special rules. Finally, the summary does not
describe the effect of the federal estate and gift tax laws on
U.S.&nbsp;Holders or the effects of any applicable foreign,
state, or local laws.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">INVESTORS SHOULD CONSULT THEIR OWN TAX ADVISORS
REGARDING THE APPLICATION OF THE U.S.&nbsp;FEDERAL INCOME TAX
LAWS TO THEIR PARTICULAR SITUATIONS AND THE CONSEQUENCES OF
FEDERAL ESTATE AND GIFT TAX LAWS, FOREIGN, STATE, AND LOCAL
LAWS, AND TAX TREATIES.
</FONT>

<P align="left">
<B><FONT size="2">Tax Consequences of the Exchange
Offer</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">An exchange of original notes for exchange notes
pursuant to the exchange offer will not be a taxable event for
United States federal income tax purposes. Consequently,
U.S.&nbsp;Holders and Non-U.S.&nbsp;Holders will not recognize
any taxable gain or loss for United States federal income tax
purposes as a result of exchanging original notes for exchange
notes pursuant to the exchange offer. The holding period of the
exchange notes will include the holding period of the original
notes, and the tax basis in the exchange notes will be the same
as the tax basis in the original notes immediately before the
exchange.
</FONT>

<P align="left">
<B><FONT size="2">Tax Consequences to U.S.&nbsp;Holders of
Ownership and Disposition of Exchange Notes</FONT></B>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Taxation of Interest</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">U.S.&nbsp;Holders will be required to recognize
as ordinary income any interest paid or accrued on the exchange
notes, in accordance with their regular method of accounting. In
general, if the terms of a debt instrument entitle a holder to
receive payments other than fixed periodic interest that exceed
the issue price of the instrument by more than a de minimis
amount, the holder may be required to recognize additional
interest as &#147;original issue discount&#148; over the term of
the instrument. The original notes were not issued with more
than a de minimis amount of original issue discount and thus the
exchange notes will not be treated as having original issue
discount.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In certain circumstances, we may be required to
make payments to holders of the exchange notes in addition to
principal and stated interest. For example, if we do not
complete the exchange offer as required by the Registration
Rights Agreement, as described under &#147;Description of the
Notes -Registration Rights; Liquidated Damages,&#148; we will be
required to make additional payments to holders of the notes as
liquidated damages. In addition, if we experience a change of
control, we will be required to make an offer to repurchase the
exchange notes at a price that exceeds the principal amount plus
accrued but unpaid interest. See &#147;Description of
Notes&nbsp;&#151; Repurchase at the Option of
Holders&nbsp;&#151; Offer to Repurchase Upon Change of
</FONT>

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<FONT size="2">Control.&#148; The original issue discount rules
allow contingent payments such as these to be disregarded in
computing a holder&#146;s interest income if the contingency is
&#147;remote&#148; or the amount of the payment is
&#147;incidental.&#148; We believe that only a remote
possibility exists that we will experience a change of control
or be required to pay liquidated damages because of a failure to
fulfill our registration obligations. Our determination in this
regard is binding on U.S.&nbsp;Holders unless they disclose
their contrary position. If, contrary to expectations, we pay
liquidated damages, U.S.&nbsp;Holders would be required to
recognize additional ordinary income. If we pay a premium to
redeem the exchange notes after a change of control, the premium
should result in additional capital gain under the rules
described below under the heading &#147;Sale, Exchange or
Redemption of the Exchange Notes.&#148;
</FONT>
</DIV>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></TD>
    <TD>
    <B><I><FONT size="2">Market Discount</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If a U.S.&nbsp;Holder acquires an exchange note
other than in connection with the exchange offer at a price that
is less than its issue price, the amount of such difference is
treated as &#147;market discount&#148; for U.S.&nbsp;federal
income tax purposes, unless such difference is less
than &nbsp;1/4 of one percent of the principal amount at
maturity multiplied by the number of complete years to maturity
from the date of acquisition. Under the market discount rules, a
U.S.&nbsp;Holder is required to treat any gain on the sale,
exchange, retirement or other disposition of an exchange note as
ordinary income to the extent of the accrued market discount
that has not previously been included in income. If a
U.S.&nbsp;Holder disposes of an exchange note which has accrued
market discount in a nonrecognition transaction in which the
U.S.&nbsp;Holder receives property the basis of which is
determined in whole or in part by reference to the basis of the
exchange note, the accrued market discount is generally not
includible in income at the time of such transaction. Instead,
the accrued market discount attaches to the property received in
the nonrecognition transaction and is recognized as ordinary
income upon the disposition of such property. In general, the
amount of market discount that has accrued is determined on a
ratable basis, by allocating an equal amount of market discount
to each day of every accrual period. A U.S.&nbsp;Holder may,
however, elect to determine the amount of accrued market
discount allocable to any accrual period under the constant
yield method. Any such election applies to all debt instruments
acquired by the U.S.&nbsp;Holder on or after the first day of
the first taxable year to which the election applies, and is
irrevocable without the consent of the IRS. If such an election
is made, the U.S.&nbsp;Holder&#146;s tax basis in the exchange
notes will be increased by the amount of market discount
included in income. Unless a U.S.&nbsp;Holder elects to include
market discount in income as it accrues, such U.S.&nbsp;Holder
may not be allowed to deduct on a current basis a portion of the
interest expense on any indebtedness incurred or continued to
purchase or carry exchange notes with market discount.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></TD>
    <TD>
    <B><I><FONT size="2">Amortizable Bond Premium</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If a U.S.&nbsp;Holder purchases an exchange note
at a price that exceeds the principal amount of the note, the
amount of the difference is referred to as &#147;bond
premium&#148; for U.S.&nbsp;federal income tax purposes. The
U.S.&nbsp;holder may elect to amortize the bond premium against
interest payable on the exchange note. In addition, any bond
premium in excess of the interest payable on the exchange note
may be deductible over the term of the note. If a
U.S.&nbsp;Holder elects to amortize bond premium, the amount of
bond premium allocable to each period will be based on a
constant yield to maturity over the period the exchange note is
held. The amortized bond premium would reduce the
U.S.&nbsp;Holder&#146;s tax basis in the exchange note. Any such
election applies to all fully taxable bonds held by the
U.S.&nbsp;Holder at the beginning of the first taxable year to
which the election applies, and all fully taxable bonds acquired
thereafter, and is irrevocable without the consent of the IRS.
If the election is not made, a U.S.&nbsp;Holder must include the
full amount of each interest payment in income as it accrues or
is paid, and premium will not be taken into account until
principal payments are received on the exchange note or the
exchange note is sold or otherwise disposed of.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></TD>
    <TD>
    <B><I><FONT size="2">Sale, Exchange or Redemption of the
    Exchange Notes</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A U.S.&nbsp;Holder will generally recognize
capital gain or loss if the holder disposes of an exchange note
in a sale, exchange or redemption. The holder&#146;s gain or
loss will equal the difference between the proceeds received by
the holder and the holder&#146;s adjusted tax basis in the
exchange note. The proceeds received by the holder
</FONT>

<P align="center"><FONT size="2">69
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<FONT size="2">will include the amount of any cash and the fair
market value of any other property received for the exchange
note. The holder&#146;s tax basis in the exchange note will
generally equal the amount the holder paid for the exchange
note. The portion of any proceeds that is attributable to
accrued interest will not be taken into account in computing the
holder&#146;s capital gain or loss. Instead, that portion will
be recognized as ordinary interest income to the extent that the
holder has not previously included the accrued interest in
income. The gain or loss recognized by a holder on a disposition
of the exchange note will be long-term capital gain or loss if
the holder held the exchange note for more than one year.
Long-term capital gains of individual taxpayers are taxed at
lower rates than those applicable to ordinary income. The
deductibility of capital losses is subject to limitation.
</FONT>
</DIV>

<P align="left">
<B><FONT size="2">Special Tax Rules&nbsp;Applicable to
Non-U.S.&nbsp;Holders Owing and Disposing of Exchange
Notes</FONT></B>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Taxation of Interest</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Payments of interest to nonresident persons or
entities are generally subject to U.S.&nbsp;federal income tax
at a rate of 30&nbsp;percent, collected by means of withholding
by the payor. Payments of interest on the exchange notes to most
Non-U.S.&nbsp;Holders, however, will qualify as &#147;portfolio
interest,&#148; and thus will be exempt from the withholding
tax, if the holders certify their nonresident status as
described below. The portfolio interest exemption will not apply
to payments of interest to a Non-U.S.&nbsp;Holder that
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">owns, directly or indirectly, at least
    10&nbsp;percent of our voting stock,&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">is a &#147;controlled foreign corporation&#148;
    that is related to us.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In general, a foreign corporation is a controlled
foreign corporation if more than 50&nbsp;percent of its stock is
owned, directly or indirectly, by one or more U.S.&nbsp;persons
that each owns, directly or indirectly, at least 10&nbsp;percent
of the corporation&#146;s voting stock.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The portfolio interest exemption and several of
the special rules for Non-U.S.&nbsp;Holders described below
apply only if the holder certifies its nonresident status. A
Non-U.S.&nbsp;Holder can meet this certification requirement by
providing a Form&nbsp;W-8BEN or appropriate substitute form to
us or our paying agent. If the holder holds the exchange note
through a financial institution or other agent acting on the
holder&#146;s behalf, the holder will be required to provide
appropriate documentation to the agent. The holder&#146;s agent
will then be required to provide certification to us or our
paying agent, either directly or through other intermediaries.
For payments made to a foreign partnership or other flow-through
entity, the certification requirements generally apply to the
partners or other owners rather than the partnership or other
entity, and the partnership or other entity must provide the
partners&#146; or owners&#146; documentation to us or our paying
agent.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Sale, Exchange or Redemption of Exchange
    Notes</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Non-U.S.&nbsp;Holders generally will not be
subject to U.S.&nbsp;federal income tax on any gain realized on
the sale, exchange, or other disposition of exchange notes. This
general rule, however, is subject to several exceptions. For
example, the gain would be subject to U.S.&nbsp;federal income
tax if
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the gain is effectively connected with the
    conduct by the Non-U.S.&nbsp;Holder of a U.S.&nbsp;trade or
    business,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the Non-U.S.&nbsp;Holder was a citizen or
    resident of the United States and thus is subject to special
    rules that apply to expatriates,&nbsp;or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the Non-U.S.&nbsp;Holder is an individual who is
    present in the United States for 183&nbsp;days or more in the
    year of disposition and certain other conditions are met.
    </FONT></TD>
</TR>

</TABLE>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Income or Gains Effectively Connected With
    a U.S.&nbsp;Trade or Business</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The preceding discussion of the tax consequences
of the purchase, ownership or disposition of exchange notes by a
Non-U.S.&nbsp;Holder assumes that the holder is not engaged in a
U.S.&nbsp;trade or business. If any interest on the exchange
notes or gain from the sale, exchange or other disposition of
the exchange notes is effectively connected with a
U.S.&nbsp;trade or business conducted by the
Non-U.S.&nbsp;Holder, then the income or gain will be
</FONT>

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<FONT size="2">subject to U.S.&nbsp;federal income tax at the
regular graduated rates. If the Non-U.S.&nbsp;Holder is eligible
for the benefits of a tax treaty between the United States and
the holder&#146;s country of residence, any &#147;effectively
connected&#148; income or gain will be subject to
U.S.&nbsp;federal income tax only if it is also attributable to
a permanent establishment or fixed place of business maintained
by the holder in the United States. Payments of interest which
are effectively connected with a U.S.&nbsp;trade or business are
not subject to the 30&nbsp;percent withholding tax. To claim
exemption from withholding, the holder must certify its
qualification, which can be done by filing Form&nbsp;W-8ECI. If
the Non-U.S.&nbsp;Holder is a corporation, that portion of its
earnings and profits that is effectively connected with its
U.S.&nbsp;trade or business would generally be subject to a
&#147;branch profits tax.&#148; The branch profits tax rate is
generally 30&nbsp;percent, although an applicable tax treaty
might provide for a lower rate.
</FONT>
</DIV>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">U.S.&nbsp;Federal Estate Tax</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The estates of nonresident alien individuals are
subject to U.S.&nbsp;federal estate tax on property with a
U.S.&nbsp;situs. The exchange notes generally will not be
U.S.&nbsp;situs property if interest on the exchange notes paid
immediately before the death of the holder would have qualified
as portfolio interest, exempt from withholding tax as described
above under &#147;Special Tax Rules Applicable to
Non-U.S.&nbsp;Holders Owning and Disposing of Exchange
Notes&nbsp;&#151; Taxation of Interest.&#148; Even if interest
paid on the exchange notes would have been portfolio interest,
however, the exchange notes might still be U.S.&nbsp;situs
property if the interest is also effectively connected with a
U.S.&nbsp;trade or business. The U.S.&nbsp;federal estate tax
liability of the estate of a nonresident alien may be affected
by a tax treaty between the United States and the
decedent&#146;s country of residence.
</FONT>

<P align="left">
<B><FONT size="2">Backup Withholding and Information
Reporting</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Unless a U.S.&nbsp;Holder is an exempt recipient,
such as a corporation, interest and proceeds received from the
sale of the exchange notes generally will be subject to
information reporting, and will also be subject to
U.S.&nbsp;federal backup withholding tax at the applicable rate
(currently 28%) if the holder fails to supply an accurate
taxpayer identification number or otherwise fails to comply with
applicable U.S.&nbsp;information reporting or certification
requirements.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In general, no backup withholding will be
required with respect to payments we make with regard to the
exchange notes to a Non-U.S.&nbsp;Holder if the holder has
provided us with a Form&nbsp;W-8BEN (or a suitable substitute
form) directly or through an intermediary or otherwise
establishes an exemption, and we do not have actual knowledge or
reason to know that the holder is a U.S.&nbsp;person. However,
interest paid to Non-U.S.&nbsp;Holders will be subject to
information reporting requirements, even if no tax is required
to be withheld from such payments.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Any amounts withheld under the backup withholding
rules will be allowed as a credit against a holder&#146;s
U.S.&nbsp;federal income tax liability provided the required
information is timely furnished to the IRS.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">The preceding discussion of certain
U.S.&nbsp;federal income tax considerations is for general
information only. It is not tax advice. Each prospective
investor should consult its own tax advisor regarding the
particular U.S.&nbsp;federal, state, local, and foreign tax
consequences of exchanging, holding, and disposing of our notes,
including the consequences of any proposed change in applicable
laws.</FONT></B>

<P align="center"><FONT size="2">71
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<A name='113'></A>
</DIV>

<!-- link1 "PLAN OF DISTRIBUTION" -->

<P align="center">
<B><FONT size="2">PLAN OF DISTRIBUTION</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Each broker-dealer that receives exchange notes
for its own account pursuant to the exchange offer must
acknowledge that it will deliver a prospectus meeting the
requirements of the Securities Act in connection with any resale
of such exchange notes. This prospectus, as it may be amended or
supplemented from time to time, may be used by all persons
subject to the prospectus delivery requirements of the
Securities Act, including a broker-dealer in connection with
resales of exchange notes received in exchange for original
notes, where such original notes were acquired as a result of
market-making activities or other trading activities. We have
agreed that, for a period of up to 180&nbsp;days after
consummation of this exchange offer, we will make this
prospectus, as amended or supplemented, available to any
broker-dealer that requests it in the letter of transmittal for
use in connection with any such resale. In addition,
until &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
200&nbsp;, all dealers effecting transactions in the exchange
notes may be required to deliver a prospectus.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Although we have no present plan to acquire any
original notes that are not tendered in the exchange offer or to
file a registration statement to permit resales of any original
notes that are not tendered in the exchange offer, we reserve
the right, in our sole discretion, to purchase or make offers
for any original notes after the expiration date of the exchange
offer, from time to time, through open market or privately
negotiated transactions, one or more additional exchange or
tender offers, or otherwise, as permitted by law, the Indenture
and our other debt agreements. Following consummation of this
exchange offer, the terms of any such purchases or offers could
differ materially from the terms of this exchange offer.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We will not receive any proceeds from any sale of
exchange notes by brokers-dealers or any other persons. Exchange
notes received by broker-dealers for their own account pursuant
to the exchange offer may be sold from time to time in one or
more transactions in the over-the-counter market, in negotiated
transactions, through the writing of options on the exchange
notes or a combination of such methods of resale, at market
prices prevailing at the time of resale, at prices related to
such prevailing market prices or negotiated prices. Any such
resale may be made directly to purchasers or to or through
brokers or dealers who may receive compensation in the form of
commissions or concessions from any such broker-dealer and/or
the purchasers of any such exchange notes. Any broker-dealer
that resells exchange notes that were received by it for its own
account pursuant to the exchange offer and any broker or dealer
that participates in a distribution of such exchange notes may
be deemed to be an &#147;underwriter&#148; within the meaning of
the Securities Act and any profit of any such resale of exchange
notes and any commissions or concessions received by any such
persons may be deemed to be underwriting compensation under the
Securities Act. The letter of transmittal states that by
acknowledging that it will deliver and by delivering a
prospectus meeting the requirements of the Securities Act, a
broker-dealer will not be deemed to admit that it is an
&#147;underwriter&#148; within the meaning of the Securities Act.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We have agreed to pay all expenses incident to
this exchange offer other than commissions or concessions of any
brokers or dealers and will indemnify the holders of the
original notes (including any broker-dealers) against certain
liabilities, including liabilities under the Securities Act.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The broker-dealer further acknowledges and agrees
that, upon receipt of notice from us of the happening of any
event which makes any statement in the prospectus untrue in any
material respect or which requires the making of any changes in
the prospectus to make the statements in the prospectus not
misleading, which notice we agree to deliver promptly to the
broker-dealer, the broker-dealer will suspend use of the
prospectus until we have notified the broker-dealer that
delivery of the prospectus may resume and have furnished copies
of any amendment or supplement to the prospectus to the
broker-dealer.
</FONT>

<P align="center"><FONT size="2">72
</FONT>
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<DIV align="left">
<A name='114'></A>
</DIV>

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<P align="center">
<B><FONT size="2">LEGAL MATTERS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The validity of the exchange notes being offered
hereby will be passed upon for Amkor Technology, Inc. by Wilson
Sonsini Goodrich&nbsp;&#38; Rosati, Professional Corporation,
Palo Alto, California.
</FONT>

<DIV align="left">
<A name='115'></A>
</DIV>

<!-- link1 "EXPERTS" -->

<P align="center">
<B><FONT size="2">EXPERTS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The audited consolidated financial statements of
Amkor Technology, Inc. and its subsidiaries as of
December&nbsp;31, 2003 and 2002 and for each of the three years
in the period ended December&nbsp;31, 2003, incorporated in this
prospectus by reference to the annual report on Form&nbsp;10-K
have been audited by PricewaterhouseCoopers LLP, independent
registered public accounting firm, as indicated in their report
with respect thereto. In 2002 and 2001, PricewaterhouseCoopers
LLP did not audit the combined financial statements of Amkor
Technology Philippines, Inc. (formerly Amkor Technology (P1/P2),
Inc. and Amkor Technology Philippines (P3/P4), Inc., a wholly
owned subsidiary, referred to as ATP, which combined financial
statements reflect total assets of 14% of the consolidated total
assets at December&nbsp;31, 2002 and operating expenses of 14%
and 18% of the related consolidated total operating expenses for
each of the two years in the period ended December&nbsp;31,
2002. The combined financial statements of ATP as of
December&nbsp;31, 2002 and for the year ended December&nbsp;31,
2002 were audited by SyCip Gorres Velayo&nbsp;&#38; Co., a
member practice of Ernst&nbsp;&#38; Young Global, whose report
thereon dated January&nbsp;15, 2003 has been furnished to
PricewaterhouseCoopers LLP. Such financial statements have been
so included in reliance on the reports of such independent
accountants given on the authority of such firms as experts in
auditing and accounting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The combined financial statements of ATP as of
December&nbsp;31, 2001 and for the year ended December&nbsp;31,
2001 were audited by Andersen Worldwide (through its then
Philippine member firm, SyCip Gorres Velayo&nbsp;&#38; Co.), who
prior to cessation of its operations in August 2002 had
expressed an unqualified opinion on those financial statements
in its report dated March&nbsp;19, 2002.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">With the cessation of its operations, Andersen
Worldwide can no longer consent to the use of its audit report
in, or participate in the preparation of, the registration
statement of which this prospectus is a part. In addition, we
are unable to obtain the written consent of Andersen Worldwide
in connection with the filing of the registration statement of
which this prospectus is a part. Accordingly, your ability to
seek damages from Andersen Worldwide in connection with the
exchange offer will be limited.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The audited consolidated financial statements of
Anam Semiconductor, Inc. and its subsidiary as of
December&nbsp;31, 2002 and for each of the two years in the
period ended December&nbsp;31, 2002, incorporated in our Annual
Report or Form&nbsp;10-K for the year ended December&nbsp;31,
2003 by reference to our Current Report on Form&nbsp;8-K/A filed
on October&nbsp;17, 2003, have been audited by Samil Accounting
Corporation, independent accountants, as indicated in their
report with respect thereto. Such financial statements have been
so included in reliance on the report of such independent
accountants given on the authority of such firm as experts in
auditing and accounting.
</FONT>

<P align="center"><FONT size="2">73
</FONT>
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<DIV align="left">
<FONT size="2">
<HR size="4" noshade color="#000000" style="margin-top: -5px">
</FONT>
</DIV>

<DIV align="left">
<HR size="1" noshade color="#000000" style="margin-top: -10px">
</DIV>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
dealer, salesperson or other person has been authorized to give
any information or to make any representations other than those
contained or incorporated by reference in this prospectus in
connection with the exchange offer, and, if given or made, such
information or representations must not be relied upon as having
been authorized by Amkor Technology, Inc. This prospectus does
not constitute an offer of any securities other than those to
which it relates or an offer or a solicitation by anyone in any
jurisdiction in which such offer or solicitation is not
authorized or in which the person making such offer or
solicitation is not qualified to do so or to anyone to whom it
is unlawful to make such offer or solicitation in such
jurisdiction. Neither the delivery of this prospectus nor any
sale made hereunder shall under any circumstance create an
implication that there has been no change in the affairs of
Amkor Technology, Inc. since the date hereof.</FONT></B>

<P align="center">
<B><FONT size="2">TABLE OF CONTENTS</FONT></B>

<CENTER>
<TABLE width="60%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="90%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Page</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#101'>Where You Can Find More
    Information</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">i</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#102'>Incorporation by
    Reference</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">i</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#103'>Prospectus Summary</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#104'>Risk Factors</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#105'>Forward-Looking
    Information</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">19</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#106'>Private Placement</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">19</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#107'>Use of Proceeds</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">19</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#108'>Capitalization</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">20</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#109'>The Exchange Offer</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">21</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#110'>Description of the Notes</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">31</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#111'>Book-Entry; Delivery and
    Form</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">65</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#112'>Certain United States
    Federal Income Tax Considerations</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">68</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#113'>Plan of Distribution</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">72</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#114'>Legal Matters</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">73</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;<A HREF='#115'>Experts</A>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">73</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<HR size="1" noshade color="#000000" style="margin-top: -2px">

<DIV align="left">
<HR size="4" noshade color="#000000" style="margin-top: -10px">
</DIV>

<DIV align="left">
<HR size="4" noshade color="#000000" style="margin-top: -5px">
</DIV>

<DIV align="left">
<HR size="1" noshade color="#000000" style="margin-top: -10px">
</DIV>

<P align="center">
<B><FONT size="4">AMKOR TECHNOLOGY, INC.</FONT></B>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<P align="center">
<B>OFFER TO EXCHANGE</B>

<DIV align="center">
<B>$250,000,000</B>
</DIV>

<DIV align="center">
<B><FONT size="2">7&nbsp;1/8% Senior Notes&nbsp;due
2011</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">that have been registered under the</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">Securities Act of 1933, as amended</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">for any and all of its outstanding</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">7&nbsp;1/8% Senior Notes due 2011</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">that were issued and sold in a
transaction</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">exempt from registration</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">under the Securities Act of 1933, as
amended</FONT></B>
</DIV>

<P align="center">
<HR size="1" width="31%" align="center" noshade>

<P align="center">
<B>PROSPECTUS</B>

<P align="center">
<HR size="1" width="31%" align="center" noshade>

<P align="center">
<B><FONT size="2">[ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
2004</FONT></B>

<P align="left">
<HR size="1" noshade color="#000000" style="margin-top: -2px">

<DIV align="left">
<HR size="4" noshade color="#000000" style="margin-top: -10px">
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center">
<B><FONT size="2">PART&nbsp;II</FONT></B>

<P align="center">
<B><FONT size="2">INFORMATION NOT REQUIRED IN
PROSPECTUS</FONT></B>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD><B><FONT size="2">Item&nbsp;20.</FONT></B></TD>
    <TD>
    <B><I><FONT size="2">Indemnification of Directors and
    Officers</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Section&nbsp;145 of the Delaware General
Corporation Law provides that a corporation may indemnify
directors and officers as well as other employees and
individuals against expenses including attorneys&#146; fees,
judgments, fines and amounts paid in settlement in connection
with various actions, suits or proceedings, whether civil,
criminal, administrative or investigative, other than an action
by or in the right of the corporation, a derivative action, if
they acted in good faith and in a manner they reasonably
believed to be in or not opposed to the best interests of the
corporation, and, with respect to any criminal action or
proceeding, if they had no reasonable cause to believe their
conduct was unlawful. A similar standard is applicable in the
case of derivative actions, except that indemnification only
extends to expenses including attorneys&#146; fees incurred in
connection with the defense or settlement of such actions, and
the statute requires court approval before there can be any
indemnification where the person seeking indemnification has
been found liable to the corporation. The statute provides that
it is not exclusive of other indemnification that may be granted
by a corporation&#146;s by-laws, disinterested director vote,
stockholder vote, and agreement or otherwise.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our Bylaws provide for the indemnification of
officers, directors and third parties acting on behalf of Amkor
if such person acted in good faith and in a manner reasonably
believed to be in and not opposed to the best interest of Amkor,
and with respect to any criminal action or proceeding, the
indemnified party had no reason to believe his conduct was
unlawful. We have entered into indemnification agreements with
our directors and executive officers, in addition to
indemnification provided for in our Bylaws, and intend to enter
into indemnification agreements with any new directors and
executive officers in the future.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our certificate of incorporation provides that
none of our directors will be personally liable to us or our
stockholders for monetary damages for breach of fiduciary duty
as a director to the fullest extent permitted by the Delaware
General Corporation Law as amended from time to time.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Neither the amendment nor repeal of such
provision will eliminate or reduce the effect of such provision
in respect of any matter occurring, or any cause of action, suit
or claim that, but for such provision, would accrue or arise,
before such amendment or repeal.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Insofar as indemnification for liabilities
arising under the Securities Act of 1933 may be permitted to
directors, officers or persons controlling the registrant
pursuant to the foregoing provisions, the registrant has been
informed that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as
expressed in the Act and is therefore unenforceable.
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD><B><FONT size="2">Item&nbsp;21.</FONT></B></TD>
    <TD>
    <B><I><FONT size="2">Exhibits and Financial Statement
    Schedules</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(a)&nbsp;Exhibits
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Reference is made to the Exhibit&nbsp;Index on
page&nbsp;E-1.</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(b)&nbsp;Financial Statement Schedules
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All schedules are omitted because they are
inapplicable or the requested information is shown in the
consolidated financial statements of the registrant or related
notes thereto.
</FONT>

<P align="center"><FONT size="2">II-1
</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV>&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD><B><FONT size="2">Item&nbsp;22.</FONT></B></TD>
    <TD>
    <B><I><FONT size="2">Undertakings</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned registrant hereby undertakes:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(1)&nbsp;To file, during any period in which
offers or sales are being made, a post-effective amendment to
this registration statement:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;To include any prospectus required by
    Section&nbsp;10(a)(3) of the Securities Act of 1933;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;To reflect in the prospectus any facts
    or events arising after the effective date of the registration
    statement (or the most recent post-effective amendment thereof)
    which, individually or in the aggregate, represent a fundamental
    change in the information set forth in the registration
    statement. Notwithstanding the foregoing, any increase or
    decrease in volume of securities offered (if the total dollar
    value of securities offered would not exceed that which was
    registered) and any deviation from the low or high end of the
    estimated maximum offering range may be reflected in the form of
    prospectus filed with the SEC pursuant to Rule&nbsp;424(b) if,
    in the aggregate, the changes in volume and price represent no
    more than a 20&nbsp;percent change in the maximum aggregate
    offering price set forth in the &#147;Calculation of
    Registration Fee&#148; table in the effective registration
    statement;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iii)&nbsp;To include any material information
    with respect to the plan of distribution not previously
    disclosed in the registration statement or any material change
    to such information in the registration statement;
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(2)&nbsp;That, for the purpose of determining any
liability under the Securities Act of 1933, each such
post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered
therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(3)&nbsp;To remove from registration by means of
a post-effective amendment any of the securities being
registered which remain unsold at the termination of the
offering.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned registrant hereby undertakes
that, for purposes of determining any liability under the
Securities Act of 1933, as amended (the &#147;Securities
Act&#148;), each filing of the registrant&#146;s annual report
pursuant to Section&nbsp;13(a) or Section&nbsp;15(d) of the
Securities Exchange Act of 1934, as amended (the &#147;Exchange
Act&#148;) (and, where applicable, each filing of an employee
benefit plan&#146;s annual report pursuant to Section&nbsp;15(d)
of the Exchange Act), that is incorporated by reference in this
Registration Statement shall be deemed to be a new registration
statement relating to the securities offered herein, and the
offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors,
officers and controlling persons of the registrant pursuant to
the foregoing provisions, or otherwise, the registrant has been
advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as
expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer
or controlling person of the registrant in the successful
defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the
securities being registered, the registrant will, unless in the
opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and
will be governed by the final adjudication of such issue.
</FONT>

<P align="center"><FONT size="2">II-2
</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned registrant hereby undertakes to
respond to requests for information that is incorporated by
reference into the prospectus pursuant to Items&nbsp;4, 10(b),
11, or 13 of this Form&nbsp;S-4, within one business day of
receipt of such request, and to send the incorporated documents
by first class mail or other equally prompt means. This includes
information contained in documents filed subsequent to the
effective date of the registration statement through the date of
responding to the request.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned registrant hereby undertakes to
supply by means of a post-effective amendment all information
concerning a transaction, and the company being acquired
involved therein, that was not the subject of and included in
the registration statement when it became effective.
</FONT>

<P align="center"><FONT size="2">II-3
</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center">
<B><FONT size="2">SIGNATURES</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Pursuant to the requirements of the Securities
Act of 1933, the registrant certifies that it has reasonable
grounds to believe that it meets all the requirements for filing
on Form&nbsp;S-4 and has duly caused this Registration Statement
on Form&nbsp;S-4 to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of West Chester, State of
Pennsylvania, on the 24th&nbsp;day of May, 2004.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">AMKOR TECHNOLOGY, INC.
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">By:&nbsp;</FONT></TD>
    <TD align="center">
    <FONT size="2">/s/ JAMES J. KIM
    </FONT></TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <HR size="1" align="left" noshade></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Name:&nbsp;James J. Kim
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Title:&nbsp;&nbsp;<I>Chairman and Chief Executive
    Officer</I>
    </FONT></TD>
</TR>

</TABLE>

<P align="center">
<B><FONT size="2">POWER OF ATTORNEY</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Each person whose signature appears below hereby
constitutes and appoints James J. Kim and Kenneth T. Joyce and
each of them, his true and lawful attorneys in fact and agents
with full power of substitution and resubstitution, for him and
in his name, place and stead, in any and all capacities, to sign
any and all amendments (including post-effective amendments),
any registration statement relating to the same offering as this
Registration Statement that is to be effective upon filing
pursuant to Rule&nbsp;462(b), and any and all additions to this
Registration Statement, and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, and hereby grants to such
attorneys in fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to
be done, as fully to all intents and purposes as he might or
could do in person, hereby ratifying and confirming all that
said attorneys in fact and agents or his substitute or
substitutes may lawfully do or cause to be done by virtue hereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Pursuant to the requirements of the Securities
Act of 1933, this Registration Statement on Form&nbsp;S-4 has
been signed by the following persons in the capacities indicated
below on May&nbsp;24, 2004.
</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="54%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="43%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Signature</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Title</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <FONT size="2">/s/ JAMES J. KIM<BR>
    <HR size="1" noshade>James J. Kim
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">Chief Executive Officer and Chairman
    </FONT></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <FONT size="2">/s/ JOHN N. BORUCH<BR>
    <HR size="1" noshade>John N. Boruch
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">Vice Chairman and Director
    </FONT></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <FONT size="2">/s/ BRUCE J. FREYMAN<BR>
    <HR size="1" noshade>Bruce J. Freyman
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">President and Chief Operating Officer
    </FONT></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <FONT size="2">/s/ KENNETH T. JOYCE<BR>
    <HR size="1" noshade>Kenneth T. Joyce
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">Chief Financial Officer (Principal Financial and
    Accounting Officer)
    </FONT></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <FONT size="2">/s/ WINSTON J. CHURCHILL<BR>
    <HR size="1" noshade>Winston J. Churchill
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">Director
    </FONT></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <FONT size="2">/s/ THOMAS D. GEORGE<BR>
    <HR size="1" noshade>Thomas D. George
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">Director
    </FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center"><FONT size="2">II-4
</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="66%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="31%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Signature</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Title</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <FONT size="2">/s/ GREGORY K. HINCKLEY<BR>
    <HR size="1" noshade>Gregory K. Hinckley
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">Director
    </FONT></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <FONT size="2">/s/ JOHN B. NEFF<BR>
    <HR size="1" noshade>John B. Neff
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">Director
    </FONT></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <FONT size="2">/s/ JUERGEN KNORR<BR>
    <HR size="1" noshade>Juergen Knorr
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">Director
    </FONT></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <FONT size="2">/s/ JAMES W. ZUG<BR>
    <HR size="1" noshade>James W. Zug
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">Director
    </FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center"><FONT size="2">II-5
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center">
<B><FONT size="2">EXHIBIT INDEX</FONT></B>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="85%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Exhibit</FONT></B></TD>
    <TD></TD>
    <TD></TD>
</TR>

<TR>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Index</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Description</FONT></B></TD>
</TR>

<TR>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Indenture, dated as of March&nbsp;12, 2004,
    between Amkor Technology, Inc. and Wells Fargo Bank, N.A.
    (incorporated by reference to the Company&#146;s quarterly
    report on Form&nbsp;10-Q for the quarter ended March&nbsp;31,
    2004).
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Registration Rights Agreement, dated as of
    March&nbsp;12, 2004, between Amkor Technology, Inc. and
    Citigroup Global Markets Inc., Deutsche Bank Securities, Inc.
    and J.P.&nbsp;Morgan Securities, Inc. (incorporated by reference
    to the Company&#146;s quarterly report on Form&nbsp;10-Q for the
    quarter ended March&nbsp;31, 2004).
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Form of 7&nbsp;1/8% Exchange Note due 2011
    (incorporated by reference to Exhibit&nbsp;4.1 to the
    Company&#146;s quarterly report on Form&nbsp;10-Q for the
    quarter ended March&nbsp;31, 2004).
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">5</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Opinion of Wilson Sonsini Goodrich&nbsp;&#38;
    Rosati,&nbsp;P.C. as to legality of the Exchange Notes issued by
    Amkor Technology, Inc.
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">8</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Opinion of Wilson Sonsini Goodrich&nbsp;&#38;
    Rosati,&nbsp;P.C., special tax counsel, as to certain federal
    income tax matters.
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">12</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Computation of ratio of earnings to fixed charges
    (incorporated by reference to the Company&#146;s quarterly
    report on Form&nbsp;10-Q for the quarter ended March&nbsp;31,
    2004).
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">23</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Consent of PricewaterhouseCoopers LLP.
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">23</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Consent of SyCip Gorres Velayo&nbsp;&#38; Co., a
    member practice of Ernst&nbsp;&#38; Young Global.
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">23</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Consent of SyCip Gorres Velayo&nbsp;&#38; Co., a
    member firm of Arthur Andersen(1).
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">23</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Consent of Samil Accounting Corporation.
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">23</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Consent of Wilson Sonsini Goodrich&nbsp;&#38;
    Rosati,&nbsp;P.C. (included in Exhibit&nbsp;5.1 and
    Exhibit&nbsp;8.1).
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">24</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Power of Attorney (contained on the signature
    page hereto).
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">25</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Form&nbsp;T-1 Statement of Eligibility of Wells
    Fargo Bank, National Association to act as trustee under the
    Indenture.
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Form of Letter of Transmittal.
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Form of Notice of Guaranteed Delivery.
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Form of Letter to Brokers, Dealers, Commercial
    Banks, Trust Companies and Other Nominees.
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">.4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Form of Letter to Clients.
    </FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<HR size="1" width="18%" align="left" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The financial statements of Amkor Technology
    Philippines (P1/ P2), Inc. and Amkor Technology Philippines (P3/
    P4), Inc., consolidated subsidiaries of the Registrant, for each
    of the two years in the period ended December&nbsp;31, 2002,
    have been audited by the independent public accountants SyCip
    Gorres Velayo&nbsp;&#38; Co., a member firm of Arthur Andersen,
    (referred to herein as Arthur Andersen). However, the Registrant
    has been unable to obtain the written consent of Arthur Andersen
    with respect to the incorporation by reference of such financial
    statements in this Registration Statement on Form&nbsp;S-4 (the
    &#147;Registration Statement&#148;). Therefore, the Registrant
    has dispensed with the requirement to file the written consent
    of Arthur Andersen in reliance on Rule&nbsp;437a of the
    Securities Act of 1933, as amended. As a result, you may not be
    able to recover damages from Arthur Andersen under
    Section&nbsp;11 of the Securities Act of 1933, as amended, for
    any untrue statements of material fact or any omissions to state
    a material fact, if any, contained in the financial statements
    of the Registrant for the aforementioned financial statements,
    which are incorporated by reference in the Registration
    Statement.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">E-1
</FONT>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>w97741exv5w1.htm
<DESCRIPTION>OPINION OF WILSON SONSINI GOODRICH & ROSATI P.C.
<TEXT>
<HTML>
<HEAD>
<TITLE>exv5w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt"><B>Exhibit&nbsp;5.1</B>


<P align="center" style="font-size: 10pt">Form of Opinion of Wilson
Sonsini Goodrich &#38; Rosati, Professional Corporation.

<P align="center" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2004



<P align="left" style="font-size: 10pt">Amkor Technology, Inc.<BR>
1345 Enterprise Drive<BR>
West Chester, Pennsylvania 19380


<P>

<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap><B>Re:</B>&nbsp;</TD>
    <TD><B>Amkor Technology Inc. &#150; Exchange of $250,000,000 of its
Outstanding 7 1/8% Senior Notes due March&nbsp;15, 2011</B></TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">Ladies and Gentlemen:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have acted as special counsel to Amkor Technology, Inc., a Delaware
corporation (the &#147;Company&#148;), in connection with the filing by the Company with
the Securities and Exchange Commission (the &#147;Commission&#148;) of a registration
statement on Form S-4 (the &#147;Registration Statement&#148;) under the Securities Act
of 1933, as amended (the &#147;Securities Act&#148;). Pursuant to the Registration
Statement, the Company is registering under the Securities Act an aggregate of
up to $250,000,000 in principal amount of its 7&nbsp;1/8% Senior Notes due March&nbsp;15,
2011 (the &#147;Exchange Notes&#148;) to be issued in exchange (the &#147;Exchange Offer&#148;) for
a like principal amount of the Company&#146;s outstanding 7&nbsp;1/8% Senior Notes due March
15, 2011 (the &#147;Outstanding Notes&#148;) upon the terms set forth in the Registration
Statement and the letter of transmittal filed as an exhibit thereto. The
Outstanding Notes were issued, and the Exchange Notes will be issued, pursuant
to an Indenture, dated as of March&nbsp;12, 2004 (the &#147;Indenture&#148;), by and between
the Company and Wells Fargo Bank, National Association.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In rendering the opinions expressed below, we have examined originals or
copies of: (a)&nbsp;the Registration Statement, in the form filed with the
Commission; (b)&nbsp;the Registration Rights Agreement, dated as of March&nbsp;12, 2004
(the &#147;Registration Rights Agreement&#148;), by and among the Company and the initial
purchasers listed therein; (c)&nbsp;the Indenture; (d)&nbsp;specimens of the certificates
representing the Exchange Notes, included as exhibits to the Indenture; and (e)
the other documents delivered by or on behalf of the Company and the Trustee as
of the date hereof in connection with the delivery of the Exchange Notes. We
have also examined such other documents as we have deemed necessary or
appropriate as a basis for the opinions set forth below.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have assumed the following: (a)&nbsp;the authenticity of original documents
and the genuineness of all signatures; (b)&nbsp;the conformity to the originals of
all documents submitted to us as copies; (c)&nbsp;that the Indenture is a legal and
binding obligation of the Trustee and that the Exchange Notes will be duly
authenticated by the Trustee; and (d)&nbsp;the legal capacity of natural persons.
Insofar as our opinions set forth herein relate to the validity, binding effect
or enforceability of any agreement or obligation of the Company, we have
assumed that each other party to such agreement or obligation has satisfied
those legal requirements that are applicable to it to the extent necessary to
make such agreement or obligation enforceable against it. As to any facts
material to the opinions expressed herein that were not independently
established or verified, we have relied upon oral or written statements and
representations of officers and other representatives of the Company.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Members of our firm are admitted to the bar in the State of California and
the State of New York, and we express no opinion as to any matter relating to
laws of any jurisdiction other than the federal laws of the United States of
America, the Delaware General Corporation Law (the &#147;DGCL&#148;), the Delaware
Limited
Liability Company Act (the &#147;DLLCA&#148;), the laws of the State of New York
(but only with respect to our opinions as to the validity, binding effect and
enforceability of the Exchange Notes) and the laws of the State of California,
as such are in effect on the date hereof, and we have made no inquiry into, and
we express no opinion as to, the statutes, regulations, treaties, common laws
or other laws of any other nation, state or jurisdiction. We are not licensed
to practice law in the State of Delaware and, accordingly, our opinions as to
the DGCL and DLLCA are based solely on a review of the official statutes of the
State of Delaware.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We express no opinion as to (i)&nbsp;the effect of any bankruptcy, insolvency,
reorganization, arrangement, fraudulent conveyance, moratorium or other similar
laws relating to or affecting the rights of creditors generally, (ii)&nbsp;rights to
indemnification and contribution which may be limited by applicable law or
equitable principles, or (iii)&nbsp;the effect of general principles of equity,
including, without limitation, concepts of materiality, reasonableness, good
faith and fair dealing, the effect of judicial discretion and the possible
unavailability of specific performance, injunctive relief or other equitable
relief, and limitations on rights of acceleration, whether considered in a
proceeding in equity or at law.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We express no opinion as to the applicability to the obligations of the
Company (or the enforceability of such obligations) of Section&nbsp;548 of the
Bankruptcy Code, Article&nbsp;10 of the New York Debtor and Creditor Law or
California Civil Code Section&nbsp;3439, or any other provision of law, relating to
fraudulent conveyances, transfers or obligations.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent relevant to the opinions set forth below, we have assumed
that the Trustee is duly organized, validly existing and in good standing under
the laws of its jurisdiction of organization; that the Trustee is duly
qualified to engage in the activities contemplated by the Indenture and is duly
qualified and eligible under the terms of the Indenture to act as trustee
thereunder; that the Indenture was duly authorized, executed and delivered by
the Trustee; that the Indenture is a valid and binding obligation of the
Trustee; that the Trustee is in compliance, generally with respect to acting as
a trustee under the Indenture, with all applicable laws and regulations; and
that the Trustee has the requisite organizational and legal power and authority
to perform its obligations under the Indenture.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This opinion letter speaks only at and as of its date and is based solely
on the facts and circumstances known to us at and as of such date. We express
no opinion as to the effect on rights under the Indenture of any statute, rule,
regulation, or other law which is enacted or becomes effective after, or of any
court decision which changes the law relevant to such rights which is rendered
after, the date of this opinion letter, or of the conduct of the parties
following the closing of the contemplated transaction. In rendering this
opinion letter, we assume no obligation to revise or supplement this opinion
letter should the present laws of the jurisdictions mentioned herein be changed
by any legislative action, judicial decision or otherwise.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On the basis of the foregoing and in reliance thereon and having regard
for legal considerations which we deem relevant, and subject to the limitations
and qualifications set forth herein, we advise you that in our opinion when (i)
the Registration Statement, as finally amended (including all necessary
post-effective amendments, if any), shall have become effective under the
Securities Act and (ii)&nbsp;the Exchange Notes have been duly executed and
delivered by the Company and authenticated by the Trustee in accordance with
the provisions of the Indenture, and exchanged for the Outstanding Notes in
accordance with the terms of the Exchange Offer, the Exchange Notes will
constitute valid and binding obligations of the Company enforceable against the
Company in accordance with their terms, and will be entitled to the benefits
provided by the Indenture.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the reference to our firm under the caption
&#147;Legal Matters&#148; in the prospectus forming part of the Registration Statement
and any amendments thereto. In giving such consent, we do not concede that we
are experts within
the meaning of the Securities Act or the rules and regulations thereunder
or that this consent is required by Section&nbsp;7 of the Securities Act.


<P align="left" style="font-size: 10pt; margin-left: 50%">Very truly yours,


<P align="left" style="font-size: 10pt; margin-left: 50%">WILSON SONSINI GOODRICH &#038; ROSATI<BR>
Professional Corporation




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-8.1
<SEQUENCE>3
<FILENAME>w97741exv8w1.htm
<DESCRIPTION>OPINION OF WILSON SONSINI GOODRICH & ROSATI P.C.
<TEXT>
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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt"><B>Exhibit&nbsp;8.1</B>

<P align="center" style="font-size: 10pt">Form of Opinion of Wilson
Sonsini Goodrich &#38; Rosati, Professional Corporation


<P align="center" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2004



<P align="left" style="font-size: 10pt">Amkor Technology, Inc.<BR>
1345 Enterprise Drive<BR>
West Chester, PA 19380


<P align="left" style="font-size: 10pt">Ladies and Gentlemen:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have acted as counsel to Amkor Technology, Inc., a Delaware corporation
(&#147;the Company&#148;), in connection with its offer to exchange up to $250&nbsp;million in
aggregate principal amount of its registered 7&nbsp;1/8% Senior Notes due 2011 (the
&#147;Original Notes&#148;) for the same principal amount of its outstanding unregistered
7&nbsp;1/8% Senior Notes due 2011 (the &#147;Exchange Notes,&#148; and together with the Original
Notes, the &#147;Notes&#148;). The offer to exchange the Original Notes for the
Exchanges Notes (the &#147;Exchange Offer&#148;) and certain proposed transactions
incident thereto are described in the Registration Statement on Form S-4 (the
&#147;Registration Statement&#148;) of the Company, which includes the Prospectus
relating to the Exchange Offer (the &#147;Prospectus&#148;). This opinion is being
rendered pursuant to the requirements of Item 21(a) of Form S-4 under the
Securities Act of 1933, as amended. Unless otherwise indicated, any
capitalized terms used herein and not otherwise defined have the meaning
ascribed to them in the Registration Statement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with this opinion, we have examined and are familiar with
the terms of the Notes, the Indenture and the Exchange Offer, the Registration
Statement, and such other presently existing documents, records and matters of
law as we have deemed necessary or appropriate for purposes of our opinion. In
addition, we have assumed, without any independent investigation or examination
thereof (i)&nbsp;that the Exchange Offer will be consummated in the manner
contemplated by the Prospectus and will be effective under applicable state
law, and that the parties have complied with and, if applicable, will continue
to comply with, the covenants, conditions and other provisions relating to the
Exchange Offer, including those contained in the Notes, the letter of
transmittal relating to the Exchange Offer, the Indenture and related
documents, without any waiver, breach or amendment thereof and (ii)&nbsp;the
continuing truth and accuracy at all relevant times of the statements made by
the Company in the Prospectus, and that any such statements made &#147;to the
knowledge&#148; or based on the belief or intention of the Company or similarly
qualified are true and accurate and will continue to be true and accurate at
all relevant times without such qualification.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based upon the foregoing, it is our opinion that the discussion in the
Registration Statement, under the caption &#147;Certain United States Federal Income
Tax Considerations,&#148; to the extent it constitutes descriptions of legal matters
or legal conclusions, is accurate in all material respects.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This opinion represents our best judgment regarding the application of
federal income tax laws under the Internal Revenue Code of 1986, as amended,
existing judicial decisions, administrative regulations and published rulings
and procedures. Our opinion is not binding upon the Internal Revenue Service
or the courts, and there is no assurance that the Internal Revenue Service will
not successfully assert a contrary position. This opinion is being delivered
prior to the consummation of the proposed transactions and therefore is
prospective and dependent on future events. No assurance can be given that
future legislative, judicial or administrative changes, on either a prospective
or retroactive basis, or future factual developments, would not adversely
affect the accuracy of the conclusion stated herein. We undertake no
responsibility to


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="left" style="font-size: 10pt">advise you of any new developments in the facts or in the
application or interpretation of the federal income
tax laws. Furthermore, in the event any one of the statements,
representations, warranties or assumptions upon which we have relied to issue
this opinion is incorrect, our opinion might be adversely affected and may not
be relied upon.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This opinion is furnished to you solely for use in connection with the
Registration Statement. We hereby consent to the filing of this opinion as an
exhibit to the Registration Statement and to the reference to our firm name in
the Registration Statement under the caption &#147;Certain United States Federal
Income Tax Considerations.&#148; In giving this consent, we do not thereby admit
that we are in the category of persons whose consent is required under Section
7 of the Securities Act of 1933, as amended, or the rules and regulations of
the Securities and Exchange Commission thereunder, nor do we thereby admit that
we are experts with respect to any part of such Registration Statement within
the meaning of the term &#147;experts&#148; as used in the Securities Act of 1933, as
amended, or the rules and regulations of the Securities and Exchange Commission
thereunder.


<P align="left" style="font-size: 10pt; margin-left: 50%">Very truly yours,


<P align="left" style="font-size: 10pt; margin-left: 50%">WILSON SONSINI GOODRICH &#038; ROSATI<BR>
Professional Corporation



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>
</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>w97741exv23w1.htm
<DESCRIPTION>CONSENT OF PRICEWATERHOUSECOOPERS LLP
<TEXT>
<HTML>
<HEAD>
<TITLE>exv23w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt"><B>Exhibit&nbsp;23.1</B>


<P align="center" style="font-size: 10pt"><B>CONSENT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
hereby consent to the incorporation by reference in this Registration
Statement on Form S-4 of Amkor Technology, Inc. of our report dated January&nbsp;28,
2004 relating to the financial statements and financial statement schedule,
which appears in Amkor Technology Inc.&#146;s Annual Report on Form 10-K for the
year ended December&nbsp;31, 2003. We also consent to the reference to us under the
heading &#147;Experts&#148; in such Registration Statement.


<P align="left" style="font-size: 10pt; margin-left: 50%"><I>/s/ PricewaterhouseCoopers LLP</I>


<P align="left" style="font-size: 10pt; margin-left: 50%"><I>Philadelphia, Pennsylvania</I>


<P align="left" style="font-size: 10pt">May 24, 2004


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>
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</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>5
<FILENAME>w97741exv23w2.htm
<DESCRIPTION>CONSENT OF SYCIP GORRES VELAYO & CO.
<TEXT>
<HTML>
<HEAD>
<TITLE>exv23w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt"><B>Exhibit&nbsp;23.2</B>


<P align="center" style="font-size: 10pt"><B>CONSENT OF INDEPENDENT ACCOUNTANTS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the incorporation by reference in this Registration
Statement on Form S-4 of Amkor Technology, Inc. of our report dated January&nbsp;15,
2003, relating to the financial statements of Amkor Technology Philippines,
Inc. (formerly Amkor Technology Philippines (P1/P2), Inc.) which appears in
Amkor Technology, Inc.&#146;s Annual Report on Form 10-K for the year ended December
31, 2003; filed with the Securities and Exchange Commission. We also consent
to the reference to us under the heading &#147;Experts&#148; in such Registration
Statement.


<P align="left" style="font-size: 10pt; margin-left: 50%"><I>/s/ SyCip Gorres Velayo &#038; Co.</I>


<P align="left" style="font-size: 10pt; margin-left: 50%"><I>Makati City, Philippines</I>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;May&nbsp;20, 2004


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>
</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.3
<SEQUENCE>6
<FILENAME>w97741exv23w3.htm
<DESCRIPTION>CONSENT OF SYCIP GORRES VELAYO & CO.
<TEXT>
<HTML>
<HEAD>
<TITLE>exv23w3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt"><B>Exhibit&nbsp;23.3</B>


<P align="center" style="font-size: 10pt"><B>&#091;Intentionally omitted&#093;</B>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>
</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.4
<SEQUENCE>7
<FILENAME>w97741exv23w4.htm
<DESCRIPTION>CONSENT OF SAMIL ACCOUNTING CORPORATION
<TEXT>
<HTML>
<HEAD>
<TITLE>exv23w4</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="right" style="font-size: 10pt"><B>Exhibit&nbsp;23.4</B>


<P align="center" style="font-size: 10pt"><B>CONSENT OF INDEPENDENT ACCOUNTANTS</B>



<P align="left" style="font-size: 10pt">To the Board of Directors and<BR>
Shareholders of<BR>
Amkor Technology, Inc.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the incorporation by reference in this Registration
Statement on Form S-4 of Amkor Technology, Inc. of our report dated January&nbsp;17,
2003, except for Note 21, which is as of January&nbsp;27, 2003, and Notes 2, 13 and
15, which are as of October&nbsp;6, 2003, relating to the consolidated financial
statements of Anam Semiconductor, Inc. and its subsidiary which appears in
Current Report on Form 8-K/A of Amkor Technology, Inc., dated October&nbsp;17, 2003.
We also consent to the references to our firm under the caption &#147;Experts&#148; in
this Registration Statement.


<P align="left" style="font-size: 10pt; margin-left: 50%"><I>/s/ Samil Accounting Corporation</I>


<P align="left" style="font-size: 10pt; margin-left: 50%"><I>Seoul, Korea</I>


<P align="left" style="font-size: 10pt">May 24, 2004



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-25.1
<SEQUENCE>8
<FILENAME>w97741exv25w1.htm
<DESCRIPTION>FORM T-1 STATEMENT OF ELIGIBILITY
<TEXT>
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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt"><B>Exhibit&nbsp;25.1</B>


<HR size="4" noshade color="#000000" style="margin-top: -5px">
<HR size="1" noshade color="#000000" style="margin-top: -10px">





<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>


<P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">


<P align="center" style="font-size: 18pt"><B>FORM T-1</B>


<P align="center" style="font-size: 10pt">STATEMENT OF ELIGIBILITY<BR>
UNDER THE TRUST INDENTURE ACT OF 1939 OF A<BR>
CORPORATION DESIGNATED TO ACT AS TRUSTEE



<P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">


<P align="center" style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT>
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE
PURSUANT TO<br>SECTION 305(b) (2)


<P align="center" style="font-size: 24pt"><B>WELLS FARGO BANK, NATIONAL ASSOCIATION</B>

<DIV align="center" style="font-size: 10pt">(Exact name of trustee as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="67%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>A National Banking Association</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>94-1347393</B></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(Jurisdiction of incorporation or<BR>
organization if not a U.S. national<BR>
bank)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>101 North Phillips Avenue<BR>
Sioux Falls, South Dakota</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><BR>
57104</B></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(Address of principal executive offices)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Zip code)</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><B>Wells Fargo &#038; Company<BR>
Law Department, Trust Section<BR>
MAC N9305-175<BR>
Sixth Street and Marquette Avenue, 17th Floor<BR>
Minneapolis, Minnesota 55479<BR>
(612)&nbsp;667-4608</B><BR>
(Name, address and telephone number of agent for service)



<P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">



<P align="center" style="font-size: 10pt"><B>Amkor Technology, Inc.</B><BR>
(Exact name of obligor as specified in its charter)


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="67%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Delaware</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>23-1722724</B></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(State or other jurisdiction of<BR>
incorporation or organization)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>1345 Enterprise Drive<BR>
West Chester, PA</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><BR>
19380</B></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(Address of principal executive offices)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Zip code)</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">



<P align="center" style="font-size: 10pt"><B>7 1/8% Senior Notes due 2011</B><BR>
(Title of the indenture securities)



<P>
<HR size="1" noshade color="#000000" style="margin-top: -2px">
<HR size="4" noshade color="#000000" style="margin-top: -10px">






<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">Item&nbsp;1. General Information. Furnish the following information as to the
trustee:



<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Name and address of each examining or
supervising authority to which it is subject.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Comptroller of the Currency<BR>
Treasury Department<BR>
Washington, D.C.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Federal Deposit Insurance Corporation<BR>
Washington, D.C.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Federal Reserve Bank of San Francisco<BR>
San Francisco, California 94120</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Whether it is authorized to exercise
corporate trust powers.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The trustee is authorized to exercise corporate trust
powers.</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt">Item&nbsp;2. Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None with respect to the trustee.

<P align="left" style="font-size: 10pt">No responses are included for Items 3-14 of this Form T-1 because the obligor
is not in default as provided under Item&nbsp;13.


<P align="left" style="font-size: 10pt">Item&nbsp;15. Foreign Trustee. Not applicable.


<P align="left" style="font-size: 10pt">Item&nbsp;16. List of Exhibits. List below all exhibits filed as a part of this Statement of Eligibility.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="95%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="11%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;1.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">A copy of the Articles of Association of the trustee now
in effect.*</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;2.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">A copy of the Comptroller of the Currency Certificate of
Corporate Existence and Fiduciary Powers for Wells Fargo Bank,
National Association, dated February&nbsp;4, 2004.**</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;3.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">See Exhibit&nbsp;2</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;4.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Copy of By-laws of the trustee as now in effect.***</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;5.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Not applicable.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;6.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The consent of the trustee required by Section&nbsp;321(b) of the Act.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;7.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">A copy of the latest report of condition of the trustee
published pursuant to law or the requirements of its
supervising or examining authority.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;8.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Not applicable.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;9.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Not applicable.</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="margin-left:3%; font-size: 10pt">* Incorporated by reference to the exhibit of the same number to the
trustee&#146;s Form T-1 filed as exhibit 25 to the Form T-3 dated March&nbsp;3, 2004 of
Trans-Lux Corporation file number 022-28721.



<P align="left" style="margin-left:3%; font-size: 10pt">** Incorporated by reference to the exhibit of the same number to the
trustee&#146;s Form T-1 filed as exhibit 25 to the Form T-3 dated March&nbsp;3, 2004 of
Trans-Lux Corporation file number 022-28721.



<P align="left" style="margin-left:3%; font-size: 10pt">*** Incorporated by reference to the exhibit of the same number to the
trustee&#146;s Form T-1 filed as exhibit 25 to the Form T-3 dated March&nbsp;3, 2004 of
Trans-Lux Corporation file number 022-28721.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt">SIGNATURE



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Trust Indenture Act of 1939, as amended,
the trustee, Wells Fargo Bank, National Association, a national banking
association organized and existing under the laws of the United States of
America, has duly caused this statement of eligibility to be signed on its
behalf by the undersigned, thereunto duly authorized, all in the City of
Minneapolis and State of Minnesota on the 19th day of May&nbsp;2004.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">WELLS FARGO BANK, NATIONAL ASSOCIATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000">/s/ Michael T. Lechner
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3">Michael T. Lechner&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3">Assistant Vice President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt"><B>EXHIBIT 6</B>


<P align="left" style="font-size: 10pt">May&nbsp;19, 2004


<P align="left" style="font-size: 10pt">Securities and Exchange Commission<BR>
Washington, D.C. 20549


<P align="left" style="font-size: 10pt">Gentlemen:

<P align="left" style="font-size: 10pt">In accordance with Section 321(b) of the Trust Indenture Act of 1939, as
amended, the undersigned hereby consents that reports of examination of
the undersigned made by Federal, State, Territorial, or District
authorities authorized to make such examination may be furnished by such
authorities to the Securities and Exchange Commission upon its request
therefor.



<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">Very truly yours,<BR>
<BR>
<BR>
WELLS FARGO BANK, NATIONAL ASSOCIATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000">/s/ Michael T. Lechner
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3">Michael T. Lechner &nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3">Assistant Vice President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt"><B>Exhibit&nbsp;7</B>


<P align="center" style="font-size: 10pt">Consolidated Report of Condition of



<P align="center" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells
Fargo Bank National Association<BR>
of 101 North Phillips Avenue, Sioux Falls, SD 57104<BR>
And Foreign and Domestic Subsidiaries,<BR>
at the close of business March&nbsp;31, 2004, filed in accordance with 12 U.S.C. &#167;161 for National Banks.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="95%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="81%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Dollar Amounts</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>In Millions</B><HR size="1" noshade></TD>
</TR>


<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">ASSETS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Cash and balances due from depository institutions:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Noninterest-bearing balances and currency and coin</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">13,890</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Interest-bearing balances</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,251</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Securities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Held-to-maturity securities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Available-for-sale securities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,661</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Federal funds sold and securities purchased under agreements to resell:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Federal funds sold in domestic offices</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,436</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Securities purchased under agreements to resell</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">170</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Loans and lease financing receivables:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Loans and leases held for sale</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,359</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Loans and leases, net of unearned income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">233,785</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-10px">LESS: Allowance for loan and lease losses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,629</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Loans and leases, net of unearned income and allowance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">231,156</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Trading Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,314</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Premises and fixed assets (including capitalized leases)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,787</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Other real estate owned</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">180</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Investments in unconsolidated subsidiaries and associated companies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">284</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Customers&#146; liability to this bank on acceptances outstanding</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Intangible assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,915</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Other intangible assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,871</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Other assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,217</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="1" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Total assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">347,560</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="4" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">LIABILITIES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Deposits:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-10px">In domestic offices</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">240,660</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:40px; text-indent:-10px">Noninterest-bearing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">78,496</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:40px; text-indent:-10px">Interest-bearing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">162,164</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:30px; text-indent:-10px">In foreign offices, Edge and Agreement subsidiaries, and IBFs</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,087</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:40px; text-indent:-10px">Noninterest-bearing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:40px; text-indent:-10px">Interest-bearing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,084</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Federal funds purchased and securities sold under agreements to repurchase:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Federal funds purchased in domestic offices</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,617</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Securities sold under agreements to repurchase</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,028</TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="95%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="81%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Dollar Amounts</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>In Millions</B><HR size="1" noshade></TD>
</TR>


<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Trading liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,973</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Other borrowed money
(includes mortgage indebtedness and obligations under capitalized leases)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,180</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Bank&#146;s liability on acceptances executed and outstanding</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Subordinated notes and debentures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,824</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Other liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,494</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="1" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Total liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">314,932</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Minority interest in consolidated subsidiaries</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">EQUITY CAPITAL</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Perpetual preferred stock and related surplus</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Common stock</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">520</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Surplus (exclude all surplus related to preferred stock)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,424</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Retained earnings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,812</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Accumulated other comprehensive income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">802</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Other equity capital components</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="1" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Total equity capital</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32,558</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="1" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Total liabilities, minority interest, and equity capital</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">347,560</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="4" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">I, James E. Hanson, Vice President of the above-named bank do hereby declare
that this Report of Condition has been prepared
in conformance with the instructions issued by the appropriate Federal
regulatory authority and is true to the best of my knowledge
and belief.



<P align="right" style="font-size: 10pt">James E. Hanson<BR>
Vice President

<P align="left" style="font-size: 10pt">We, the undersigned directors, attest to the correctness of this Report of
Condition and declare that it has been examined by us
and to the best of our knowledge and belief has been prepared in conformance
with the instructions issued by the appropriate
Federal regulatory authority and is true and correct.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="57%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Howard Atkins</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dave Hoyt
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">John Stumpf</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>9
<FILENAME>w97741exv99w1.htm
<DESCRIPTION>FORM OF LETTER OF TRANSMITTAL
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="right">
<B><FONT size="2">Exhibit&nbsp;99.1</FONT></B>

<P align="center">
<B><FONT size="5">AMKOR TECHNOLOGY, INC.</FONT></B>

<P align="center">
<B><FONT size="4">LETTER OF TRANSMITTAL</FONT></B>

<DIV align="center">
<B><FONT size="4">OFFER FOR ALL OUTSTANDING</FONT></B>
</DIV>

<P align="center">
<B>7&nbsp;1/8% SENIOR NOTES&nbsp;DUE 2011</B>

<P align="center">
<B>IN EXCHANGE FOR</B>

<P align="center">
<B>7&nbsp;1/8% SENIOR NOTES&nbsp;DUE 2011</B>

<DIV align="center">
<B>THAT HAVE BEEN REGISTERED UNDER THE</B>
</DIV>

<DIV align="center">
<B>SECURITIES ACT OF 1933, AS AMENDED</B>
</DIV>

<P align="center">
<B>PURSUANT TO THE PROSPECTUS,
DATED &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004</B>

<P align="left">
<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THE
EXCHANGE OFFER WILL EXPIRE AT 5:00&nbsp;P.M., NEW YORK CITY
TIME,
ON &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004, UNLESS EXTENDED (THE &#147;EXPIRATION DATE&#148;). TENDERS
OF ORIGINAL NOTES&nbsp;MAY BE WITHDRAWN AT ANY TIME PRIOR TO
5:00&nbsp;P.M., NEW YORK CITY TIME, ON THE EXPIRATION DATE.</B>

<P align="center">
<B><I><FONT size="2">Deliver to the Exchange
Agent:</FONT></I></B>

<P align="center">
<B>Wells Fargo Bank, National Association</B>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="37%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="30%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="27%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <I><FONT size="2">By Mail (Registered or Certified<BR>
    Mail Recommended) or Courier:</FONT></I></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <I><FONT size="2">By Facsimile Transmission<BR>
    (Eligible Institutions Only):</FONT></I></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <I><FONT size="2">Confirm by Telephone:</FONT></I></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <I><FONT size="2">Wells Fargo Bank, National Association<BR>
    Corporate Trust Operations<BR>
    MAC N9303-121<BR>
    Sixth Street and Marquette Avenue<BR>
    Minneapolis, MN 55479<BR>
    Attention: Amkor Exchange Offer</FONT></I></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <I><FONT size="2">(612) 677-6961<BR>
    Attention: Joe Taffe</FONT></I></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <I><FONT size="2">(612) 316-4305</FONT></I></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">DELIVERY OF THIS INSTRUMENT TO AN ADDRESS
OTHER THAN AS SET FORTH ABOVE OR TRANSMISSION OF INSTRUCTIONS
VIA A FACSIMILE NUMBER OTHER THAN AS SET FORTH ABOVE WILL NOT
CONSTITUTE A VALID DELIVERY. THE INSTRUCTIONS ACCOMPANYING THIS
LETTER OF TRANSMITTAL SHOULD BE READ CAREFULLY BEFORE THE LETTER
OF TRANSMITTAL IS COMPLETED.</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned hereby acknowledges receipt and
review of the prospectus,
dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004, of Amkor Technology, Inc. (the &#147;Company&#148;) and
this letter of transmittal. These two documents together
constitute the Company&#146;s offer (the &#147;Exchange
Offer&#148;) to exchange up to $250,000,000 in aggregate
principal amount of its 7&nbsp;1/8%&nbsp;Senior Notes due
March&nbsp;15, 2011 (the &#147;Exchange Notes&#148;), which have
been registered under the Securities Act of 1933, as amended
(the &#147;Securities Act&#148;), for a like principal amount of
its outstanding 7&nbsp;1/8%&nbsp;Senior Notes due 2011 (the
&#147;Original Notes&#148;).
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">For each Original Note accepted for exchange, the
holder of such Original Note will receive an Exchange Note
having a principal amount equal to that of the surrendered
Original Note. The Exchange Notes will bear interest from the
most recent date to which interest has been paid on the Original
Notes or, if no interest has been paid on the Original Notes,
from March&nbsp;12, 2004. As a result, registered holders of
Exchange Notes on the relevant record date for the first
interest payment date following the consummation of the Exchange
Offer will receive interest accruing from the most recent date
to which interest has been paid or, if no interest has been
paid, from March&nbsp;12, 2004. Original Notes accepted
</FONT>

<P align="center">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2">for exchange will cease to accrue interest from
and after the closing date of the Exchange Offer. Holders of
Original Notes whose Original Notes are accepted for exchange
will not receive any payment in respect of accrued interest on
such Original Notes otherwise payable on any interest payment
date the record date for which occurs on or after the closing
date of the Exchange Offer.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Company reserves the right, at any time or
from time to time, to extend the period of time during which the
Exchange Offer for the Original Notes is open, at its
discretion, in which event the term &#147;Expiration Date&#148;
shall mean the latest date to which such Exchange Offer is
extended. The Company shall notify Wells Fargo Bank, National
Association (the &#147;Exchange Agent&#148;) of any extension by
oral or written notice and shall make a public announcement
thereof no later than 9:00&nbsp;a.m., New York City time, on the
next business day after the previously scheduled Expiration Date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This letter of transmittal is to be completed by
a holder of Original Notes if certificates of Original Notes are
to be forwarded herewith. The term &#147;holder&#148; with
respect to the Exchange Offer for Original Notes means any
person in whose name such Original Notes are registered on the
books of the Company, any person who holds such Original Notes
and has obtained a properly completed bond power from the
registered holder or any participant in the DTC system whose
name appears on a security position listing as the holder of
such Original Notes and who desires to deliver such Original
Notes by book-entry transfer at The Depository Trust Company
(&#147;DTC&#148;). Original Notes tendered by book-entry
transfer by holders of Original Notes in book-entry form must be
made by delivering an agent&#146;s message transmitted by DTC
pursuant to the procedures set forth in the prospectus under the
captions &#147;The Exchange Offer&nbsp;&#151; Procedures for
Tendering&#148; and &#147;&#151;&nbsp;Book-Entry Transfer&#148;
in lieu of this letter. Holders of Original Notes whose Original
Notes are not immediately available, or who are unable to
deliver their Original Notes, this letter of transmittal and all
other documents required hereby to the Exchange Agent on or
prior to the Expiration Date for the Exchange Offer, or who are
unable to complete the procedure for book-entry tender of these
Original Notes into the Exchange Agent&#146;s account at DTC
(&#147;Book-Entry Confirmation&#148;) on a timely basis, must
tender their Original Notes according to the guaranteed delivery
procedures set forth in the prospectus under the caption
&#147;The Exchange Offer&nbsp;&#151; Guaranteed Delivery
Procedures.&#148; See Instruction&nbsp;2.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">DELIVERY OF DOCUMENTS TO DTC DOES NOT CONSTITUTE
DELIVERY TO THE EXCHANGE AGENT. PLEASE READ THE ENTIRE LETTER OF
TRANSMITTAL AND THE PROSPECTUS CAREFULLY BEFORE CHECKING ANY BOX
BELOW.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">List below the Original Notes to which this
letter of transmittal relates. If the space below is inadequate,
list the registered numbers and principal amounts on a separate
signed schedule and affix the list to this letter of transmittal.
</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="48%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="17%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="18%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="7"></TD>
</TR>

<TR>
    <TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="7"></TD>
</TR>

<TR>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">DESCRIPTION OF ORIGINAL NOTES</FONT></B></TD>
</TR>

<TR>
    <TD colspan="7"></TD>
</TR>

<TR>
    <TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Principal</FONT></B></TD>
    <TD></TD>
    <TD></TD>
</TR>

<TR>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Amount of</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Principal</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Name(s) and Address(es) of Registered Holder(s)</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Certificate</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Original</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Amount</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Exactly as Name(s) Appear(s) on Original Notes</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Number(s)*</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Note(s)</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Tendered**</FONT></B></TD>
</TR>

<TR>
    <TD colspan="7"></TD>
</TR>

<TR>
    <TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="7"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="7" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="7"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="7" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="7"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="7" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="7"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="7" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="7"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="7" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="7"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Total principal amount tendered
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="7"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="7" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="7"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="7" align="left" valign="top">
    <FONT size="2">&nbsp;*&nbsp;Need not be completed by holders
    tendering by book-entry transfer.
    </FONT></TD>
</TR>

<TR>
    <TD colspan="7" align="left" valign="top">
    <FONT size="2">**&nbsp;Unless otherwise indicated in this
    column, a holder will be deemed to have tendered the entire
    aggregate principal amount represented by the Original Notes
    indicated in the column labeled &#147;Principal Amount of
    Original Note(s).&#148; All tenders must be in integral
    multiples of $1,000.
    </FONT></TD>
</TR>

<TR>
    <TD colspan="7" align="left"><HR size="1" noshade></TD>

</TR>

</TABLE>
</CENTER>

<P align="center"><FONT size="2">2
</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2"><FONT face="wingdings">&#111;</FONT></FONT></TD>
    <TD align="left">
    <FONT size="2">CHECK HERE IF CERTIFICATES REPRESENTING TENDERED
    ORIGINAL NOTES ARE ENCLOSED HEREWITH.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><FONT size="2"><FONT face="wingdings">&#111;</FONT></FONT></TD>
    <TD align="left">
    <FONT size="2">CHECK HERE AND COMPLETE THE FOLLOWING IF TENDERED
    ORIGINAL NOTES ARE BEING DELIVERED BY BOOK-ENTRY TRANSFER MADE
    TO THE ACCOUNT MAINTAINED BY THE EXCHANGE AGENT WITH DTC (FOR
    USE BY ELIGIBLE INSTITUTIONS ONLY):
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">Name of Tendering Institution:&nbsp;</FONT>

<DIV align="right">
<HR size="1" width="93%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">DTC Account Number(s):&nbsp;</FONT>

<DIV align="right">
<HR size="1" width="93%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Transaction Code Number(s):&nbsp;</FONT>

<DIV align="right">
<HR size="1" width="93%" align="right" noshade>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2"><FONT face="wingdings">&#111;</FONT></FONT></TD>
    <TD align="left">
    <FONT size="2">CHECK HERE AND COMPLETE THE FOLLOWING IF TENDERED
    ORIGINAL NOTES ARE BEING DELIVERED PURSUANT TO A NOTICE OF
    GUARANTEED DELIVERY EITHER ENCLOSED HEREWITH OR PREVIOUSLY
    DELIVERED TO THE EXCHANGE AGENT (COPY ATTACHED) (FOR USE BY
    ELIGIBLE INSTITUTIONS ONLY):
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">Name(s) of Registered holder(s) of Original Notes:
</FONT>

<DIV align="right">
<HR size="1" width="80%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Date of Execution of Notice of Guaranteed
Delivery:
</FONT>

<DIV align="right">
<HR size="1" width="78%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Window Ticket Number (if available):
</FONT>

<DIV align="right">
<HR size="1" width="97%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Name of Eligible Institution which Guaranteed
Delivery:&nbsp;</FONT>

<DIV align="right">
<HR size="1" width="73%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">If Delivered by Book-Entry Transfer, Complete the
Following:&nbsp;</FONT>

<P align="left">
<FONT size="2">DTC Account Number(s):&nbsp;</FONT>

<DIV align="right">
<HR size="1" width="93%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Transaction Code Number(s):&nbsp;</FONT>

<DIV align="right">
<HR size="1" width="93%" align="right" noshade>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2"><FONT face="wingdings">&#111;</FONT></FONT></TD>
    <TD align="left">
    <FONT size="2">CHECK HERE AND COMPLETE THE FOLLOWING IF YOU ARE
    A BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL COPIES OF THE
    PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS
    THERETO:
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">Name:
</FONT>

<DIV align="right">
<HR size="1" width="93%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Address:
</FONT>

<DIV align="right">
<HR size="1" width="93%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Area Code and Telephone Number of Contact Person:
</FONT>

<DIV align="right">
<HR size="1" width="77%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Taxpayer Identification or Social Security Number:
</FONT>

<DIV align="right">
<HR size="1" width="82%" align="right" noshade>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If the undersigned is not a broker-dealer, the
undersigned represents that it is not engaged in, and does not
intend to engage in, a distribution of Exchange Notes. If the
undersigned is a broker-dealer that will receive Exchange Notes
for its own account in exchange for Original Notes that were
acquired as a result of market-making activities or other
trading activities, it acknowledges that it must comply with the
registration and prospectus delivery requirements of the
Securities Act in connection with any resale transaction,
including the delivery of a prospectus that contains information
with respect to any selling holder required by the Securities
Act in connection with any resale of any Exchange Notes;
however, by so acknowledging and by delivering a prospectus, the
undersigned will not be deemed to admit that it is an
&#147;underwriter&#148; within the meaning of the Securities
Act. If the undersigned is a broker-dealer that will receive
Exchange Notes, it represents that the Original Notes to be
exchanged for the Exchange Notes were acquired as a result of
market-making activities or other trading activities.
</FONT>

<P align="center"><FONT size="2">3
</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center">
<B><FONT size="2">SIGNATURES MUST BE PROVIDED BELOW</FONT></B>

<DIV align="center">
<B><FONT size="2">PLEASE READ THE ACCOMPANYING INSTRUCTIONS
CAREFULLY</FONT></B>
</DIV>

<P align="left">
<FONT size="2">Ladies and Gentlemen:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Subject to the terms and conditions of the
Exchange Offer, the undersigned hereby tenders to the Company
for exchange the aggregate principal amount of Original Notes
indicated above. Subject to, and effective upon, the acceptance
for exchange of the principal amount of Original Notes tendered
in accordance with this letter of transmittal, the undersigned
hereby exchanges, assigns and transfers to, or upon the order
of, the Company all right, title and interest in and to such
Original Notes tendered for exchange hereby. The undersigned
hereby irrevocably constitutes and appoints the Exchange Agent
as the true and lawful agent and attorney-in-fact for the
undersigned (with full knowledge that said Exchange Agent also
acts as the agent for the Company in connection with the
Exchange Offer) with respect to the tendered Original Notes,
with full power of substitution to (i)&nbsp;deliver certificates
representing such Original Notes, or transfer ownership of such
Original Notes on the account books maintained by DTC (together,
in any such case, with all accompanying evidences of transfer
and authenticity), to the Company, (ii)&nbsp;present and deliver
such Original Notes for transfer on the books of the Company,
and (iii)&nbsp;receive all benefits and otherwise exercise all
rights of beneficial ownership with respect to such Original
Notes, all in accordance with the terms of the Exchange Offer.
The power of attorney granted in this paragraph shall be deemed
to be irrevocable and coupled with an interest.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned hereby represents and warrants
that the undersigned has full power and authority to tender,
exchange, assign and transfer the Original Notes tendered hereby
and to acquire the Exchange Notes issuable upon the exchange of
such tendered Original Notes, and that, when the same are
accepted for exchange, the Company will acquire good and
unencumbered title thereto, free and clear of all liens,
restrictions, charges and encumbrances and not subject to any
adverse claim, when the same are accepted for exchange by the
Company.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned acknowledges that the Exchange
Offer is being made in reliance upon interpretations set forth
in no-action letters issued to third parties by the staff of the
Securities and Exchange Commission (the &#147;SEC&#148;),
including Exxon Capital Holdings Corporation (available
May&nbsp;13, 1988), Morgan Stanley&nbsp;&#38; Co. Incorporated
(available June&nbsp;5, 1991), Mary Kay Cosmetics, Inc.
(available June&nbsp;5, 1991) and similar no-action letters (the
&#147;Prior No-Action Letters&#148;), that the Exchange Notes
issued in exchange for the Original Notes pursuant to the
Exchange Offer may be offered for resale, resold and otherwise
transferred by holders thereof (other than any such holder that
is an &#147;affiliate&#148; of the Company within the meaning of
Rule&nbsp;405 under the Securities Act), without compliance with
the registration and prospectus delivery provisions of the
Securities Act, PROVIDED that such Exchange Notes are acquired
in the ordinary course of such holders&#146; business and such
holders are not engaging in, do not intend to engage in and have
no arrangement or understanding with any person to participate
in a distribution of such Exchange Notes. The SEC has not,
however, considered the Exchange Offer in the context of a
no-action letter, and there can be no assurance that the staff
of the SEC would make a similar determination with respect to
the Exchange Offer as in other circumstances.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned hereby further represents to the
Company that (i)&nbsp;any Exchange Notes received are being
acquired in the ordinary course of business of the person
receiving such Exchange Notes, whether or not the undersigned,
(ii)&nbsp;neither the undersigned nor any such other person is
engaged in or intends to engage in or has an arrangement or
understanding with any person to participate in the distribution
of the Original Notes or the Exchange Notes within the meaning
of the Securities Act and (iii)&nbsp;neither the holder nor any
such other person is an &#147;affiliate,&#148; as defined in
Rule&nbsp;405 under the Securities Act, of the Company or, if
so, it will comply with the registration and prospectus delivery
requirements of the Securities Act to the extent applicable.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If the undersigned is a broker-dealer that will
receive Exchange Notes for its own account in exchange for
Original Notes that were acquired as a result of market-making
activities or other trading activities, it acknowledges that it
will deliver a prospectus in connection with any resale of such
Exchange Notes; however, by so acknowledging and by delivering a
prospectus, the undersigned will not be deemed to admit that it
is an &#147;underwriter&#148; within the meaning of the
Securities Act. The undersigned acknowledges that if the
undersigned is tendering Original Notes in the Exchange Offer
with the intention of participating in any manner in a
distribution of the Exchange Notes (i)&nbsp;the undersigned
cannot rely on the position of the staff of the SEC set forth in
the Prior No-Action Letters and, in the absence of an exemption
therefrom, must comply with the registration and prospectus
delivery requirements of the Securities Act in connection with a
secondary resale transaction of the Exchange Notes, in which
case the registration statement must contain the selling
securityholder information required by Item&nbsp;507 or
Item&nbsp;508, as applicable, of Regulation&nbsp;S-K of the SEC,
and
</FONT>

<P align="center"><FONT size="2">4
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2">(ii)&nbsp;failure to comply with such
requirements in such instance could result in the undersigned
incurring liability under the Securities Act for which the
undersigned is not indemnified by the Company.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned will, upon request, execute and
deliver any additional documents deemed by the Exchange Agent or
the Company to be necessary or desirable to complete the
exchange, assignment and transfer of the Original Notes tendered
hereby, including the transfer of such Original Notes on the
account books maintained by DTC.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">For purposes of the Exchange Offer, the Company
shall be deemed to have accepted for exchange validly tendered
Original Notes when, as and if the Company gives oral or written
notice thereof to the Exchange Agent. Any tendered Original
Notes that are not accepted for exchange pursuant to such
Exchange Offer for any reason will be returned, without expense,
to the undersigned as promptly as practicable after the
Expiration Date for such Exchange Offer.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All authority conferred or agreed to be conferred
by this letter of transmittal shall survive the death,
incapacity or dissolution of the undersigned, and every
obligation of the undersigned under this letter of transmittal
shall be binding upon the undersigned&#146;s successors,
assigns, heirs, executors, administrators, trustees in
bankruptcy and legal representatives.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned acknowledges that the
Company&#146;s acceptance of properly tendered Original Notes
pursuant to the procedures described under the caption &#147;The
Exchange Offer&nbsp;&#151; Procedures for Tendering&#148; in the
prospectus and in the instructions hereto will constitute a
binding agreement between the undersigned and the Company upon
the terms and subject to the conditions of the Exchange Offer.
The valid tender of Original Notes may be withdrawn only in
accordance with procedures set forth in the prospectus under the
caption &#147;The Exchange Offer&nbsp;&#151; Withdrawl
Rights.&#148;
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Exchange Offer is subject to certain
conditions set forth in the prospectus under the caption
&#147;The Exchange Offer&nbsp;&#151; Conditions to the
Completion of the Exchange Offer.&#148; The undersigned
recognizes that as a result of these conditions (which may be
waived, in whole or in part, by the Company), the Company may
not be required to exchange any of the Original Notes tendered
hereby.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Unless otherwise indicated herein under
&#147;Special Issuance Instructions,&#148; please issue the
Exchange Notes issued in exchange for the Original Notes
accepted for exchange, and return any Original Notes not
tendered or not exchanged, in the name(s) of the undersigned
(or, in the case of a book-entry delivery of Original Notes,
please credit the account indicated above maintained at DTC).
Similarly, unless otherwise indicated herein under &#147;Special
Delivery Instructions,&#148; please mail or deliver the Exchange
Notes issued in exchange for the Original Notes accepted for
exchange and any Original Notes not tendered or not exchanged
(and accompanying documents, as appropriate) to the undersigned
at the address shown below the undersigned&#146;s signature(s).
In the event that both &#147;Special Issuance Instructions&#148;
and &#147;Special Delivery Instructions&#148; are completed,
please issue the Exchange Notes issued in exchange for the
Original Notes accepted for exchange in the name(s) of, and
return any Original Notes not tendered or not exchanged to, the
person(s) (or account(s)) so indicated. The undersigned
recognizes that the Company has no obligation pursuant to the
&#147;Special Issuance Instructions&#148; and &#147;Special
Delivery Instructions&#148; to transfer any Original Notes from
the name of the registered holder(s) thereof if the Company does
not accept for exchange any of the Original Notes so tendered
for exchange.
</FONT>

<P align="center"><FONT size="2">5
</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center">
<B><FONT size="2">SPECIAL ISSUANCE INSTRUCTIONS</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">(See Instructions 4 and 5)</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;
<FONT size="2">To be completed ONLY (i)&nbsp;if Original Notes
in a principal amount not tendered, or Exchange Notes issued in
exchange for Original Notes accepted for exchange, are to be
issued in the name of someone other than the person(s) whose
signature(s) appear(s) on this letter of transmittal, or
(ii)&nbsp;if Original Notes tendered by book-entry transfer
which are not exchanged are to be returned by credit to an
account maintained at DTC other than the DTC Account Number set
forth above.
</FONT>

<P align="left">
<FONT size="2">Issue: (please check one or more)
</FONT>

<DIV align="left">
<FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;Exchange
Notes
</FONT>
</DIV>

<DIV align="left">
<FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;Original
Notes
</FONT>
</DIV>

<DIV align="left">
<FONT size="2">in the name of:
</FONT>
</DIV>

<P align="left">
<FONT size="2">Name:&nbsp;</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<DIV align="center">
<B><FONT size="2">(Please Type or Print)</FONT></B>
</DIV>

<P align="left">
<FONT size="2">Address:&nbsp;</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="right">
<HR size="1" width="100%" align="right" noshade>

<DIV align="center">
<B><FONT size="2">(Include Zip Code)</FONT></B>
</DIV>

<P align="left">
<HR size="1" width="100%" align="left" noshade>

<DIV align="center">
<B><FONT size="2">(Tax Identification or Social Security
Number)</FONT></B>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Credit unexchanged Original Notes delivered by
    book-entry transfer to the DTC account set forth below.
    </FONT></TD>
</TR>

</TABLE>

<DIV align="left">
<FONT size="2">DTC Account Number:&nbsp;</FONT>
</DIV>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="center">
<B><FONT size="2">SPECIAL DELIVERY INSTRUCTIONS</FONT></B>

<DIV align="center">
<B><FONT size="2">(See Instructions 4 and 5)</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;
<FONT size="2">To be completed ONLY if Original Notes in a
principal amount not tendered, and/or Exchange Notes issued in
exchange for Original Notes accepted for exchange, are to be
mailed or delivered to someone other than the person(s) whose
signature(s) appear(s) on this letter of transmittal, or to such
person(s) at an address other than that shown in the box
entitled &#147;Description of Original Notes&#148; on this
letter of transmittal above.
</FONT>

<P align="left">
<FONT size="2">Mail or deliver: (please check one or more)
</FONT>

<DIV align="left">
<FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;Exchange
Notes
</FONT>
</DIV>

<DIV align="left">
<FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;Original
Notes
</FONT>
</DIV>

<DIV align="left">
<FONT size="2">in the name of:
</FONT>
</DIV>

<P align="left">
<FONT size="2">Name:&nbsp;</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<DIV align="center">
<B><FONT size="2">(Please Type or Print)</FONT></B>
</DIV>

<P align="left">
<FONT size="2">Address:&nbsp;</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="right">
<HR size="1" width="100%" align="right" noshade>

<DIV align="center">
<B><FONT size="2">(Include Zip Code)</FONT></B>
</DIV>

<P align="left">
<HR size="1" width="100%" align="left" noshade>

<DIV align="center">
<B><FONT size="2">(Tax Identification or Social Security
Number)</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">IMPORTANT: UNLESS GUARANTEED DELIVERY PROCEDURES
ARE COMPLIED WITH, THIS LETTER OF TRANSMITTAL (OR A MANUALLY
SIGNED FACSIMILE HEREOF), OR AN AGENT&#146;S MESSAGE IN LIEU
THEREOF PURSUANT TO DTC&#146;S AUTOMATED TENDER OFFER PROGRAM
(&#147;ATOP&#148;) SYSTEM (TOGETHER WITH THE CERTIFICATES
EVIDENCING ORIGINAL NOTES&nbsp;OR A BOOK-ENTRY CONFIRMATION, AS
APPLICABLE, AND ALL OTHER REQUIRED DOCUMENTS) MUST BE RECEIVED
BY THE EXCHANGE AGENT PRIOR TO THE EXPIRATION DATE.
</FONT>

<P align="center"><FONT size="2">6
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center">
<B><FONT size="2">IMPORTANT</FONT></B>

<P align="center">
<B><FONT size="2">PLEASE SIGN HERE WHETHER OR NOT ORIGINAL
NOTES</FONT></B>

<DIV align="center">
<B><FONT size="2">ARE BEING PHYSICALLY TENDERED HEREBY</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">(ALSO COMPLETE ACCOMPANYING SUBSTITUTE FORM
W-9)</FONT></B>
</DIV>

<P align="left">
<B><FONT size="2">X</FONT></B>

<DIV align="left">
<B><FONT size="2">________________________________________________________________________________</FONT></B>
</DIV>

<P align="left">
<B><FONT size="2">X</FONT></B>

<DIV align="center">
<B><FONT size="2">________________________________________________________________________________
(Signature(s) of Registered Holder(s) of Original
Notes)</FONT></B>
</DIV>

<P align="left">
<FONT size="2">Dated&nbsp;______________________________&nbsp;,
2004
</FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
above lines must be signed by the registered holder(s) of
Original Notes as your name(s) appear(s) on the certificate(s)
of the Original Notes or on a security position listing, or by
person(s) authorized to become registered holder(s) by a
properly completed bond power from the registered holder(s), a
copy of which must be transmitted with this letter of
transmittal. If Original Notes to which this letter of
transmittal relate are held of record by two or more joint
holders, then all such holders must sign this letter of
transmittal. If signature is by a trustee, executor,
administrator, guardian, attorney-in-fact, officer of a
corporation or other person acting in a fiduciary or
representative capacity, then such person must (i)&nbsp;set
forth his or her full title below and (ii)&nbsp;unless waived by
the Company, submit evidence satisfactory to the Company of such
person&#146;s authority so to act. See Instruction&nbsp;4
regarding the completion of this letter of transmittal, printed
below.
</FONT>

<P align="left">
<FONT size="2">Name(s):
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<DIV align="center">
<B><FONT size="2">(Please Type or Print)</FONT></B>
</DIV>

<P align="left">
<FONT size="2">Capacity:
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Address:
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<DIV align="center">
<B><FONT size="2">(Including Zip Code)</FONT></B>
</DIV>

<P align="left">
<FONT size="2">Area Code and Telephone Number:
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<DIV align="center">
<HR size="1" width="100%" align="center" noshade>
</DIV>

<DIV align="center">
<B><FONT size="2">Taxpayer Identification or Social Security
Number</FONT></B>
</DIV>

<P align="center">
<B><FONT size="2">SIGNATURE GUARANTEE</FONT></B>

<DIV align="center">
<B><FONT size="2">(If Required by Instruction 4)</FONT></B>
</DIV>

<P align="center">
<FONT size="2">Certain signatures must be guaranteed by an
Eligible Institution.
</FONT>

<P align="left">
<FONT size="2">Signature(s) Guaranteed by an Eligible
Institution:
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<DIV align="center">
<B><FONT size="2">(Authorized Signature)</FONT></B>
</DIV>

<P align="right">
<HR size="1" width="100%" align="right" noshade>

<DIV align="center">
<B><FONT size="2">(Title)</FONT></B>
</DIV>

<P align="right">
<HR size="1" width="100%" align="right" noshade>

<DIV align="center">
<B><FONT size="2">(Name of Firm)</FONT></B>
</DIV>

<P align="right">
<HR size="1" width="100%" align="right" noshade>

<P align="right">
<HR size="1" width="100%" align="right" noshade>

<DIV align="center">
<B><FONT size="2">(Address, Include Zip Code)</FONT></B>
</DIV>

<P align="right">
<HR size="1" width="100%" align="right" noshade>

<DIV align="center">
<B><FONT size="2">(Area Code and Telephone Number)</FONT></B>
</DIV>

<P align="left">
<FONT size="2">Dated&nbsp;______________________________&nbsp;,
2004
</FONT>

<P align="center"><FONT size="2">7
</FONT>

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<P align="center">
<B><FONT size="2">INSTRUCTIONS</FONT></B>

<P align="center">
<B><FONT size="2">FORMING PART OF THE TERMS AND CONDITIONS OF
THE EXCHANGE OFFER</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DELIVERY OF THIS
LETTER OF TRANSMITTAL AND ORIGINAL NOTES OR AGENT&#146;S MESSAGE
AND BOOK-ENTRY CONFIRMATIONS. This letter of transmittal (or a
facsimile hereof) is to be completed by holders of Original
Notes if certificates for Original Notes are to be forwarded
with this letter. Original Notes tendered by book-entry transfer
by holders of Original Notes in book-entry form must be made by
delivering an agent&#146;s message transmitted by DTC pursuant
to the procedures set forth in the section of the prospectus
entitled &#147;The Exchange Offer&nbsp;&#151; Book-Entry
Transfer.&#148; In the case of Original Notes held (i)&nbsp;in
certificated form, certificates for all physically tendered
Original Notes and a properly completed and duly executed letter
of transmittal or a facsimile hereof, or (ii)&nbsp;in book-entry
form, a book-entry confirmation and delivery of an agent&#146;s
message, and in either case, any other documents required by
this letter of transmittal, must be received by the Exchange
Agent at its address set forth herein prior to 5:00&nbsp;p.m.,
New York City time, on the Expiration Date, or the tendering
holder must comply with the guaranteed delivery procedures set
forth below. THE METHOD OF DELIVERY OF THE TENDERED ORIGINAL
NOTES, THIS LETTER OF TRANSMITTAL AND ALL OTHER REQUIRED
DOCUMENTS TO THE EXCHANGE AGENT IS AT THE ELECTION AND RISK OF
THE HOLDER AND, EXCEPT AS OTHERWISE PROVIDED BELOW, THE DELIVERY
WILL BE DEEMED MADE ONLY WHEN ACTUALLY RECEIVED OR CONFIRMED BY
THE EXCHANGE AGENT. INSTEAD OF DELIVERY BY MAIL, IT IS
RECOMMENDED THAT THE HOLDER USE AN OVERNIGHT OR HAND DELIVERY
SERVICE. IN ALL CASES, SUFFICIENT TIME SHOULD BE ALLOWED TO
ASSURE DELIVERY TO THE EXCHANGE AGENT BEFORE THE EXPIRATION
DATE. NO LETTER OF TRANSMITTAL OR ORIGINAL NOTES&nbsp;SHOULD BE
SENT TO THE COMPANY.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GUARANTEED
DELIVERY PROCEDURES. Holders who wish to tender their Original
Notes and (a)&nbsp;whose certificates for Original Notes are not
immediately available, (b)&nbsp;who cannot deliver their
certificates for Original Notes, this letter of transmittal or
any other documents required hereby to the Exchange Agent on or
prior to the Expiration Date, or (c)&nbsp;who are unable to
comply with the applicable procedures under DTC&#146;s ATOP on a
timely basis, may tender their Original Notes according to the
guaranteed delivery procedures set forth in the section of the
prospectus entitled &#147;The Exchange Offer&#150;Guaranteed
Delivery Procedures.&#148; Pursuant to such procedures:
(i)&nbsp;such tender must be made by or through a firm which is
a member of a registered national securities exchange or of the
National Association of Securities Dealers, Inc., a commercial
bank or a trust company having an office or correspondent in the
United States or an &#147;eligible guarantor institution&#148;
within the meaning of Rule&nbsp;17Ad-15 under the Exchange Act
(an &#147;Eligible Institution&#148;); (ii)&nbsp;prior to
5:00&nbsp;p.m., New York City time, on the Expiration Date, the
Exchange Agent must have received from the Eligible Institution
a properly completed and duly executed notice of guaranteed
delivery (by facsimile transmission, mail or hand delivery) or a
properly transmitted agent&#146;s message and notice of
guaranteed delivery setting forth the name and address of the
holder of the Original Notes and the total principal amount of
Original Notes tendered, stating that the tender is being made
thereby and guaranteeing that, within three New York Stock
Exchange trading days after the Expiration Date, this letter of
transmittal (or facsimile hereof or an agent&#146;s message in
lieu hereof) together with the certificates for all physically
tendered Original Notes in proper form for transfer (or a
Book-Entry Confirmation) and any other documents required
hereby, will be deposited by the Eligible Institution with the
Exchange Agent; and (iii)&nbsp;this letter of transmittal (or
facsimile hereof or an agent&#146;s message in lieu hereof)
together with the certificates for all physically tendered
Original Notes in proper form for transfer (or Book-Entry
Confirmation, as the case may be) and all other documents
required hereby are received by the Exchange Agent within three
New York Stock Exchange trading days after the Expiration Date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Any holder of Original Notes who wishes to tender
Original Notes pursuant to the guaranteed delivery procedures
described above must ensure that the Exchange Agent receives the
notice of guaranteed delivery prior to 5:00&nbsp;p.m., New York
City time, on the Expiration Date. Upon request of the Exchange
Agent, a notice of guaranteed delivery will be sent to holders
who wish to tender their Original Notes according to the
guaranteed delivery procedures set forth above.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">See &#147;The Exchange Offer&nbsp;&#151;
Guaranteed Delivery Procedures&#148; section of the prospectus.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PARTIAL TENDERS.
Tenders of Original Notes will be accepted only in integral
multiples of $1,000. If less than the entire principal amount of
the Original Notes evidenced by a submitted certificate are to
be tendered, the tendering holder(s) should fill in the
principal amount of the Original Notes to be tendered in the
fourth column of the
</FONT>

<P align="center"><FONT size="2">8
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2">box entitled &#147;Description of Original
Notes&#148; above. The entire aggregate principal amount of
Original Notes delivered to the Exchange Agent will be deemed to
have been tendered unless otherwise indicated. If the entire
aggregate principal amount of the Original Notes is not
tendered, a reissued certificate representing the balance of the
nontendered Original Notes will be sent to such tendering
holder, unless otherwise provided in the appropriate box above,
as promptly as practicable after the Original Notes are accepted
for exchange.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SIGNATURES ON
THIS LETTER OF TRANSMITTAL; BOND POWERS AND ENDORSEMENTS;
GUARANTEE OF SIGNATURES. If this letter of transmittal (or
facsimile hereof) is signed by the registered holder(s) of the
Original Notes tendered hereby, the signature(s) must correspond
exactly with the name(s) as written on the face of the
certificates of Original Notes without alteration, enlargement
or any change whatsoever.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If any tendered Original Notes are owned of
record by two or more joint owners, all of such owners must sign
this letter. If any tendered Original Notes are registered in
different names on several certificates, it will be necessary to
complete, sign and submit as many separate copies of this letter
as there are different registrations of certificates.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If this letter of transmittal (or facsimile
hereof) is signed by the registered holder(s) of Original Notes
listed herein and tendered hereby and the Exchange Notes issued
in exchange therefor are to be issued (or any untendered
principal amount of Original Notes is to be reissued) to the
registered holder(s), no endorsements of certificates or
separate bond powers are required. If, however, the Exchange
Notes are to be issued, or any untendered Original Notes are to
be reissued, to a person other than the registered holder, then
endorsements of any certificates transmitted hereby or separate
bond powers are required. Signatures on such certificate(s) must
be guaranteed by an Eligible Institution.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If this letter is signed by a person other than
the registered holder or holders of any certificate(s) specified
herein, such certificate(s) must be endorsed or accompanied by
appropriate bond powers, in either case signed exactly as the
name or names of the registered holder or holders appear(s) on
the certificate(s) and signatures on such certificate(s) must be
guaranteed by an Eligible Institution.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If this letter of transmittal (or facsimile
hereof) or any certificates of Original Notes or bond powers are
signed by trustees, executors, administrators, guardians,
attorneys-in-fact, officers of corporations or others acting in
a fiduciary or representative capacity, such persons should so
indicate when signing, and, unless waived by the Company,
evidence satisfactory to the Company of their authority to act
must be submitted with this letter of transmittal.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">NO SIGNATURE GUARANTEE IS REQUIRED IF
(i)&nbsp;THIS LETTER OF TRANSMITTAL (OR FACSIMILE HEREOF) IS
SIGNED BY THE REGISTERED HOLDER(S) OF THE ORIGINAL
NOTES&nbsp;TENDERED HEREIN (OR BY A PARTICIPANT IN THE DTC WHOSE
NAME APPEARS ON A SECURITY POSITION LISTING AS THE OWNER OF THE
TENDERED ORIGINAL NOTES) AND THE EXCHANGE NOTES&nbsp;ARE TO BE
ISSUED DIRECTLY TO SUCH REGISTERED HOLDER(S) (OR, IF SIGNED BY A
PARTICIPANT IN THE DTC, DEPOSITED TO SUCH PARTICIPANT&#146;S
ACCOUNT AT THE DTC) AND NEITHER THE BOX ENTITLED &#147;SPECIAL
DELIVERY INSTRUCTIONS&#148; NOR THE BOX ENTITLED &#147;SPECIAL
ISSUANCE INSTRUCTIONS&#148; HAS BEEN COMPLETED, OR
(ii)&nbsp;SUCH ORIGINAL NOTES&nbsp;ARE TENDERED FOR THE ACCOUNT
OF AN ELIGIBLE INSTITUTION. IN ALL OTHER CASES, ALL SIGNATURES
ON THIS LETTER OF TRANSMITTAL (OR FACSIMILE HEREOF) MUST BE
GUARANTEED BY AN ELIGIBLE INSTITUTION.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SPECIAL ISSUANCE
AND DELIVERY INSTRUCTIONS. Tendering holders of Original Notes
should indicate, in the applicable box or boxes, the name and
address to which Exchange Notes or substitute certificates
evidencing Original Notes for principal amounts not tendered or
not accepted for exchange are to be issued or sent, if different
from the name and address of the person signing this letter of
transmittal. In the case of issuance in a different name, the
taxpayer identification or social security number of the person
named must also be indicated. Holders tendering Original Notes
by book-entry transfer may request that Original Notes not
exchanged be credited to such account maintained at DTC as such
noteholder may designate hereon. If no such instructions are
given, such Original Notes not exchanged will be returned to the
name and address (or account number) of the person signing this
letter of transmittal.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TRANSFER TAXES.
The Company will pay all transfer taxes, if any, applicable to
the exchange of Original Notes pursuant to the Exchange Offer.
If, however, Exchange Notes or Original Notes for principal
amounts not tendered or accepted for exchange are to be
delivered to, or are to be registered or issued in the name of,
any person other than the registered holder of the Original
Notes tendered hereby, or if tendered Original Notes are
registered in the name of any
</FONT>

<P align="center"><FONT size="2">9
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2">person other than the person signing this letter
of transmittal, or if a transfer tax is imposed for any reason
other than the exchange of Original Notes pursuant to the
Exchange Offer, then the amount of any such transfer taxes
(whether imposed on the registered holder or any other persons)
will be payable by the tendering holder. If satisfactory
evidence of payment of such taxes or exemption therefrom is not
submitted with this letter of transmittal, the amount of such
transfer taxes will be billed directly to such tendering holder.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TAX
IDENTIFICATION NUMBER. Federal income tax law requires that a
holder of any Original Notes or Exchange Notes must provide the
Company (as payor) with its correct taxpayer identification
number (&#147;TIN&#148;), which, in the case of a holder who is
an individuals is his or her social security number. If the
Company is not provided with the correct TIN, the holder may be
subject to a $50 penalty imposed by the Internal Revenue Service
and backup withholding of 28% on interest payments on the
Exchange Notes.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">To prevent backup withholding, each tendering
holder must provide such holder&#146;s correct TIN by completing
the Substitute Form&nbsp;W-9 set forth herein, certifying that
the holder is a U.S.&nbsp;person (including a U.S.&nbsp;resident
alien), that the TIN provided is correct (or that such holder is
awaiting a TIN), and that (i)&nbsp;the holder has not been
notified by the Internal Revenue Service that such holder is
subject to backup withholding as a result of failure to report
all interest or dividends or (ii)&nbsp;the Internal Revenue
Service has notified the holder that such holder is no longer
subject to backup withholding. If the Exchange Notes will be
registered in more than one name or will not be in the name of
the actual owner, consult the instructions on Internal Revenue
Service Form&nbsp;W-9, which may be obtained from the Exchange
Agent or from the Internal Revenue Service&#146;s website at
www.irs.gov, for information on which TIN to report.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If a tendering holder does not have a TIN, that
holder should consult the instructions on Form&nbsp;W-9
concerning applying for a TIN, check the box in Part&nbsp;III of
the Substitute Form&nbsp;W-9, write &#147;applied for&#148; in
lieu of its TIN and sign and date the form and the Certificate
of Awaiting Taxpayer Identification Number. Checking this box,
writing &#147;applied for&#148; on the form and signing such
certificate means that such holder has already applied for a TIN
or that such holder intends to apply for one in the near future.
If the holder does not provide its TIN to the Company within
60&nbsp;days, backup withholding will begin and continue until
such holder furnishes its TIN to the Company.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Certain foreign individuals and entities will not
be subject to backup withholding or information reporting if
they submit a Form&nbsp;W-8BEN (or such other Form&nbsp;W-8, as
applicable) signed under penalties of perjury, attesting to,
among other things, their foreign status. An appropriate
Form&nbsp;W-8 can be obtained from the Exchange Agent or from
the Internal Revenue Service&#146;s website at www.irs.gov.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Company reserves the right in its sole
discretion to take whatever steps are necessary to comply with
the Company&#146;s obligations regarding backup withholding.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VALIDITY OF
TENDERS. All questions as to the validity, form, eligibility,
time of receipt, acceptance and withdrawal of tendered Original
Notes will be determined by the Company in its sole discretion,
which determination will be final and binding. The Company
reserves the absolute right to reject any and all Original Notes
not properly tendered or any Original Notes the Company&#146;s
acceptance of which might, in the opinion of the Company&#146;s
counsel, be unlawful. The Company also reserves the absolute
right to waive any irregularities or conditions of tender as to
particular Original Notes. The Company&#146;s interpretation of
the terms and conditions of the Exchange Offer, including this
letter of transmittal and the instructions hereto, shall be
final and binding on all parties. Unless waived, any defects or
irregularities in connection with tenders of Original Notes must
be cured within such time as the Company shall determine.
Neither the Company, the Exchange Agent nor any other person
shall be under any duty to give notification of defects or
irregularities with respect to tenders of Original Notes, nor
shall any of them incur any liability for failure to give such
notification.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WAIVER OF
CONDITIONS. The Company reserves the absolute right to waive, in
whole or part, any of the conditions to the Exchange Offer set
forth in the prospectus.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NO CONDITIONAL
TENDER. No alternative, conditional, irregular or contingent
tender of Original Notes will be accepted.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MUTILATED, LOST,
STOLEN OR DESTROYED ORIGINAL NOTES. Any holder whose Original
Notes have been mutilated, lost, stolen or destroyed should
contact the Exchange Agent at the address indicated above for
</FONT>

<P align="center"><FONT size="2">10
</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left">
<FONT size="2">further instructions. This letter of transmittal
and related documents cannot be processed until the procedures
for replacing lost, stolen or destroyed Original Notes have been
followed.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REQUESTS FOR
ASSISTANCE OR ADDITIONAL COPIES. Requests for assistance or for
additional copies of the prospectus or this letter of
transmittal may be directed to the Exchange Agent at the address
or telephone number set forth on the cover page of this letter
of transmittal. Holders may also contact their broker, dealer,
commercial bank, trust company or other nominee for assistance
concerning the Exchange Offer.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WITHDRAWAL.
Tenders may be withdrawn only pursuant to the limited withdrawal
rights set forth in the prospectus under the caption &#147;The
Exchange Offer&nbsp;&#151; Withdrawal of Tenders.&#148;
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">IMPORTANT: THIS LETTER OF TRANSMITTAL OR A
MANUALLY SIGNED FACSIMILE HEREOF OR AN AGENT&#146;S MESSAGE IN
LIEU HEREOF (TOGETHER WITH THE ORIGINAL NOTES&nbsp;DELIVERED BY
BOOK-ENTRY TRANSFER OR IN ORIGINAL HARD COPY FORM) MUST BE
RECEIVED BY THE EXCHANGE AGENT, OR THE NOTICE OF GUARANTEED
DELIVERY MUST BE RECEIVED BY THE EXCHANGE AGENT, PRIOR TO
5:00&nbsp;P.M., NEW YORK CITY TIME, ON THE EXPIRATION DATE.
</FONT>

<P align="center"><FONT size="2">11
</FONT>

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<DIV align="left">

</DIV>

<P align="center">
<B><FONT size="2">GUIDELINES FOR CERTIFICATION OF TAXPAYER
IDENTIFICATION</FONT></B>

<DIV align="center">
<B><FONT size="2">NUMBER ON SUBSTITUTE FORM W-9</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">GUIDELINES FOR DETERMINING THE PROPER
IDENTIFICATION NUMBER TO GIVE THE
PAYER.</FONT></B><FONT size="2"> Social security numbers
(&#147;SSN&#148;) have nine digits separated by two hyphens:
i.e., 000-00-0000. Employee identification numbers
(&#147;EIN&#148;) have nine digits separated by only one hyphen:
i.e., 00-0000000. The table below will help determine the number
to give the payer.
</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="47%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="5"></TD>
</TR>

<TR>
    <TD colspan="5" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">For this type of account:</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Give the name and social security number of:</FONT></B></TD>
</TR>

<TR>
    <TD colspan="5"></TD>
</TR>

<TR>
    <TD colspan="5" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">1.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Individual
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">The individual
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">2.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Two or more individuals (joint account)
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">The actual owner of the account or, if combined
    funds, the first individual on the account(1)
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">3.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Custodian account of a minor (Uniform Gift to
    Minors Act)
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">The minor(2)
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">4.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">a.&nbsp;The usual revocable savings trust account
    (grantor is also trustee)
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">The grantor-trustee(1)
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">b.&nbsp;So-called trust that is not a legal or
    valid trust under state law
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">The actual owner(1)
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">5.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Sole proprietorship or single-owner LLC
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">The owner(3)
    </FONT></TD>
</TR>

<TR>
    <TD colspan="5"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="5" align="left"><HR size="1" noshade></TD>

</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="47%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="5"></TD>
</TR>

<TR>
    <TD colspan="5" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">For this type of account:</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Give the name and employer identification number of:</FONT></B></TD>
</TR>

<TR>
    <TD colspan="5"></TD>
</TR>

<TR>
    <TD colspan="5" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">6.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Sole proprietorship or single-owner LLC
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">The owner(3)
    </FONT></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">7.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">A valid trust, estate, or pension trust
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Legal entity(4)
    </FONT></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">8.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Corporate or LLC electing corporate status on
    Form&nbsp;8832
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">The corporation
    </FONT></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">9.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Association, club, religious, charitable,
    educational, or other tax-exempt organization account
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">The organization
    </FONT></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">10.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Partnership or multi-member LLC
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">The partnership
    </FONT></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">11.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">A broker or registered nominee
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">The broker or nominee
    </FONT></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">12.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Account with the Department of Agriculture in the
    name of a public entity (such as a state or local government,
    school district, or prison) that receives agricultural program
    payments
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">The public entity
    </FONT></TD>
</TR>

<TR>
    <TD colspan="5" align="left"><HR size="1" noshade></TD>

</TR>

</TABLE>
</CENTER>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">List first and circle the name of the person
    whose number you furnish. If only one person on a joint account
    has an SSN, that person&#146;s number must be furnished.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Circle the minor&#146;s name and furnish the
    minor&#146;s SSN.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(3)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">You must show your individual name, but you may
    also enter your business or &#147;doing-business-as&#148; name.
    You may use either your SSN or your EIN (if you have one).
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(4)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">List first and circle the name of the legal
    trust, estate, or pension trust. (Do not furnish the taxpayer
    identifying number of the personal representative or trustee
    unless the legal entity itself is not designated in the account
    title.)
    </FONT></TD>
</TR>

</TABLE>

<DIV align="left">
<FONT size="2">NOTE:&nbsp;&nbsp;&nbsp;&nbsp;If no name is
circled when more than one name is listed, the number will be
considered to be that of the first name listed.
</FONT>
</DIV>

<P align="center"><FONT size="2">12
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center">
<B><FONT size="2">GUIDELINES FOR CERTIFICATION OF TAXPAYER
IDENTIFICATION</FONT></B>

<DIV align="center">
<B><FONT size="2">NUMBER ON SUBSTITUTE FORM W-9</FONT></B>
</DIV>

<P align="left">
<B><FONT size="2">Obtaining a Number</FONT></B>

<P align="left">
<FONT size="2">If you don&#146;t have a taxpayer identification
number or you don&#146;t know your number, obtain
Form&nbsp;SS-5, Application for a Social Security Number Card,
or Form&nbsp;SS-4, Application for Employer Identification
Number, at the local office of the Social Security
Administration or the Internal Revenue Service and apply for a
number.
</FONT>

<P align="left">
<FONT size="2">Payees specifically exempted from backup
withholding on ALL payments include the following:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">A corporation.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">A financial institution.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">An organization exempt from tax under
    section&nbsp;501(a), or an individual retirement plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The United States or any agency or
    instrumentality thereof.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">A State, the District of Columbia, a possession
    of the United States, or any subdivision or instrumentality
    thereof.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">A foreign government, a political subdivision of
    a foreign government, or any agency or instrumentality thereof.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">An international organization or any agency, or
    instrumentality thereof.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">A registered dealer in securities or commodities
    registered in the U.S., the District of Columbia or a possession
    of the U.S.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">A real estate investment trust.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">A common trust fund operated by a bank under
    section&nbsp;584(a).
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">An exempt charitable remainder trust, or a
    non-exempt trust described in section&nbsp;4947(a)(1).
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">An entity registered at all times under the
    Investment Company Act of 1940.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">A foreign central bank of issue.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">Payments of dividends and patronage dividends not
generally subject to backup withholding include the following:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Payments to nonresident aliens subject to
    withholding under section&nbsp;1441.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Payments to partnerships not engaged in a trade
    or business in the U.S. and which have at least one nonresident
    alien partner.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Payments of patronage dividends where the amount
    received is not paid in money.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Payments made by certain foreign organizations.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Payments made to a nominee.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">Payments of interest not generally subject to
backup withholding include the following:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Payments of interest on obligations issued by
    individuals.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">NOTE:&nbsp;&nbsp;&nbsp;&nbsp;You may be subject
to backup withholding if this interest is $600 or more and is
paid in the course of the payer&#146;s trade or business and you
have not provided your correct taxpayer identification number to
the payer.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Payments of tax-exempt interest (including
    exempt-interest dividends under section&nbsp;852).
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Payments described in section&nbsp;6049(b)(5) to
    nonresident aliens.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Payments on tax-free covenant bonds under
    section&nbsp;1451.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Payments made by certain foreign organizations.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Payments made to a nominee.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">Exempt payees described above should deliver
Form&nbsp;W-9 to avoid possible erroneous backup withholding. If
you are an exempt payee, furnish your taxpayer identification
number, check the box in Part&nbsp;4, sign and date the form and
return it to the payer.
</FONT>

<P align="left">
<FONT size="2">Certain payments other than interest, dividends,
and patronage dividends that are not subject to information
reporting are also not subject to backup withholding. For
details, see the regulations under sections 6041, 6041A(a),
6045, and 6050A.
</FONT>

<P align="left">
<B><FONT size="2">PRIVACY ACT
NOTICE.</FONT></B><FONT size="2">&nbsp;&#151; Section&nbsp;6109
requires most recipients of dividend, interest, or other
payments to give taxpayer identification numbers to payers who
must report the payments to IRS. The IRS uses the numbers for
identification purposes. Payers must be given the numbers
whether or not recipients are required to file tax returns.
Payers must generally withhold 28% of taxable interest,
dividend, and certain other payments to a payee who does not
furnish a taxpayer identification number to a payer. Certain
penalties may also apply.
</FONT>

<P align="left">
<B><FONT size="2">Penalties</FONT></B>

<P align="left">
<B><FONT size="2">(1)&nbsp;PENALTY FOR FAILURE TO FURNISH
TAXPAYER IDENTIFICATION NUMBER.</FONT></B><FONT size="2"> If you
fail to furnish your taxpayer identification number to a payer,
you are subject to a penalty of $50 for each such failure unless
your failure is due to reasonable cause and not to willful
neglect.
</FONT>

<P align="left">
<B><FONT size="2">(2)&nbsp;CIVIL PENALTY FOR FALSE INFORMATION
WITH RESPECT TO WITHHOLDING.</FONT></B><FONT size="2"> If you
make a false statement with no reasonable basis which results in
no imposition of backup withholding, you are subject to a
penalty of $500.
</FONT>

<P align="left">
<B><FONT size="2">(3)&nbsp;CRIMINAL PENALTY FOR FALSIFYING
INFORMATION.</FONT></B><FONT size="2"> Falsifying certifications
or affirmations may subject you to criminal penalties including
fines and/or imprisonment.
</FONT>

<P align="center">
<B><FONT size="2">FOR ADDITIONAL INFORMATION CONTACT YOUR TAX
ADVISOR OR THE INTERNAL REVENUE SERVICE.</FONT></B>

<P align="center"><FONT size="2">13
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center">
<B><FONT size="2">SUBSTITUTE FORM W-9</FONT></B>

<DIV align="center">
<B><FONT size="2">To Be Completed by All Tendering
Noteholders</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">(See Instruction&nbsp;5)</FONT></B>
</DIV>

<DIV align="center">
<FONT size="2">(Sign this Substitute Form&nbsp;W-9 in Addition
to the Signature(s) Required Above)
</FONT>
</DIV>

<DIV align="center">
<B><FONT size="2">PAYER&#146;S NAME: AMKOR TECHNOLOGY,
INC.</FONT></B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="22%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="38%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="34%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="5"></TD>
</TR>

<TR>
    <TD colspan="5" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <B><FONT size="2">SUBSTITUTE<BR>
    FORM&nbsp;W-9<BR>
    Department of the Treasury<BR>
    Internal Revenue Service</FONT></B></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <B><FONT size="2">Part&nbsp;1</FONT></B><FONT size="2">&nbsp;&#151;
    Please provide your Taxpayer Identification Number in the box to
    the right and certify by signing and dating below.
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <BR>
    <B><FONT size="2">---------------------------------------<BR>
     Name<BR>
    <BR>
    ---------------------------------------<BR>
    Social Security Number<BR>
    <BR>
    or<BR>
    <BR>
    ---------------------------------------<BR>
    Employer Identification Number</FONT></B></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="left"><HR size="1" noshade></TD>

</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="23%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="37%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="34%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <B><FONT size="2">Payer&#146;s Request for Taxpayer<BR>
    Identification Number (&#147;TIN&#148;)</FONT></B></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="left" valign="top">
    <B><FONT size="2">Part&nbsp;2</FONT></B><FONT size="2">&nbsp;&#151;
    Certification&nbsp;&#151; Under the penalties of perjury, I
    certify that:<BR>
    <BR>
    (1)&nbsp;The number shown on this form is my correct Taxpayer
    Identification Number (or I am waiting for a number to be issued
    to me),<BR>
    <BR>
    (2)&nbsp;I am not subject to backup withholding because
    (a)&nbsp;I am exempt from backup withholding, (b)&nbsp;I have
    not been notified by the Internal Revenue Service (the
    &#147;IRS&#148;) that I am subject to backup withholding as a
    result of a failure to report all interest or dividends, or
    (c)&nbsp;the IRS has notified me that I am no longer subject to
    backup withholding,&nbsp;and<BR>
    <BR>
    (3)&nbsp;I am a U.S.&nbsp;person (including a U.S.&nbsp;resident
    alien).
    </FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <B><FONT size="2">Part&nbsp;3</FONT></B><FONT size="2">&nbsp;&#151;<BR>
    Awaiting TIN&nbsp;<FONT face="wingdings">&#111;</FONT>
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <B><FONT size="2">Part&nbsp;4</FONT></B><FONT size="2">&nbsp;&#151;<BR>
    Exempt&nbsp;<FONT face="wingdings">&#111;</FONT>
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="5" align="left"><HR size="1" noshade></TD>

</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="13%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="22%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="59%"><FONT size="1">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="5" align="left" valign="top">
    <I><FONT size="1">Certificate Instructions&nbsp;&#151;
    </FONT></I><B><FONT size="1">You must cross out item (2)&nbsp;in
    Part&nbsp;2 above if you have been notified by the IRS that you
    are subject to backup withholding because of underreporting
    interest or dividends on your tax return.
    </FONT></B><FONT size="1">However, if after being notified by
    the IRS that you were subject to backup withholding you received
    another notification from the IRS that you were no longer
    subject to backup withholding, do not cross out item (2). If you
    are exempt from backup withholding, check the box in Part&nbsp;4
    above.<BR>
    <BR>
    The Internal Revenue Service does not require your consent to
    any provision of this document other than the certifications
    required to avoid backup withholding.
    </FONT></TD>
</TR>

<TR>
    <TD colspan="5" align="left" valign="top">
    <FONT size="1">Sign Here
    </FONT></TD>
</TR>

<TR>
    <TD colspan="5" align="left" valign="top">
    <FONT size="1">Signature:&nbsp;<HR size="1" noshade>
    Date:&nbsp;<HR size="1" noshade>
    </FONT></TD>
</TR>

<TR>
    <TD colspan="5" align="left" valign="top">
    <FONT size="1">Name (Please Print):&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="5" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="5" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="5" align="center" valign="top">
    <B><FONT size="1">YOU MUST COMPLETE THE FOLLOWING CERTIFICATE IF
    YOU<BR>
    CHECKED THE BOX IN PART 3 OF THE SUBSTITUTE FORM W-9.</FONT></B></TD>
</TR>

<TR>
    <TD colspan="5" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="5" align="center" valign="top">
    <B><FONT size="1">CERTIFICATE OF AWAITING TAXPAYER
    IDENTIFICATION NUMBER</FONT></B></TD>
</TR>

<TR>
    <TD colspan="5" align="left" valign="top">
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size="1">I certify under
    penalty of perjury that a taxpayer identification number has not
    been issued to me, and either (a)&nbsp;I have mailed or
    delivered an application to receive a taxpayer identification
    number to the appropriate Internal Revenue Service Center or
    Social Security Administration Office, or (b)&nbsp;I intend to
    mail or deliver an application in the near future. I understand
    that, if I do not provide a taxpayer identification number to
    the Paying Agent, 28% of all reportable payments made to me will
    be withheld, but will be refunded if I provide a certified
    taxpayer identification number within 60&nbsp;days.
    </FONT></TD>
</TR>

<TR>
    <TD colspan="5" align="left" valign="top">
    <FONT size="1">Signature&nbsp;<HR size="1" noshade>
    Date:&nbsp;<HR size="1" noshade>
    </FONT></TD>
</TR>

<TR>
    <TD colspan="5" align="left"><HR size="1" noshade></TD>

</TR>

</TABLE>
</CENTER>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top">
    <TD><B><FONT size="2">NOTE:</FONT></B></TD>
    <TD align="left">
    <B><FONT size="2">IF YOU ARE A U.S.&nbsp;SHAREHOLDER, FAILURE TO
    COMPLETE AND RETURN THIS FORM MAY RESULT IN BACKUP WITHHOLDING
    OF 28% OF ANY PAYMENTS MADE TO YOU PURSUANT TO THE OFFER. FOR
    ADDITIONAL DETAILS, PLEASE REVIEW THE ENCLOSED GUIDELINES FOR
    CERTIFICATION OF TAXPAYER IDENTIFICATION NUMBER ON SUBSTITUTE
    FORM W-9.</FONT></B></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">14
</FONT>
</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>10
<FILENAME>w97741exv99w2.htm
<DESCRIPTION>FORM OF NOTICE OF GUARANTEED DELIVERY
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center">
<B><FONT size="5">AMKOR TECHNOLOGY, INC.</FONT></B>

<P align="center">
<B><FONT size="4">NOTICE OF GUARANTEED DELIVERY</FONT></B>

<DIV align="center">
<B><FONT size="4">OFFER FOR ALL OUTSTANDING</FONT></B>
</DIV>

<P align="center">
<B>7&nbsp;1/8% SENIOR NOTES&nbsp;DUE 2011</B>

<P align="center">
<B>IN EXCHANGE FOR</B>

<P align="center">
<B>7&nbsp;1/8% SENIOR NOTES&nbsp;DUE 2011</B>

<DIV align="center">
<B>THAT HAVE BEEN REGISTERED UNDER THE</B>
</DIV>

<DIV align="center">
<B>SECURITIES ACT OF 1933, AS AMENDED</B>
</DIV>

<P align="center">
<B>PURSUANT TO THE PROSPECTUS,
DATED &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This form or one substantially equivalent hereto
must be used to accept the Exchange Offer of Amkor Technology,
Inc. (the &#147;Company&#148;) made pursuant to the prospectus,
dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004, if (i)&nbsp;certificates of outstanding
7&nbsp;1/8%&nbsp;Senior Notes due 2011 of the Company (the
&#147;Original Notes&#148;) are not immediately available,
(ii)&nbsp;certificates for Original Notes, the letter of
transmittal or any other documents required by the letter of
transmittal cannot be delivered to Wells Fargo Bank, National
Association (the &#147;Exchange Agent&#148;) on or prior to the
Expiration Date, or (iii)&nbsp;the applicable procedures for
book-entry transfer cannot be completed on a timely basis. Such
notice of guaranteed delivery may be delivered or transmitted by
facsimile transmission, mail or hand delivery to the Exchange
Agent as set forth below. In order to utilize the guaranteed
delivery procedure to tender Original Notes pursuant to the
Exchange Offer, a completed, signed and dated letter of
transmittal for original notes held in certificated form (or a
facsimile thereof) or an agent&#146;s message instead of a
letter of transmittal for original notes held in book-entry form
must also be received by the Exchange Agent prior to
5:00&nbsp;p.m., New York City time, on the Expiration Date.
Capitalized terms not defined herein shall have the respective
meanings ascribed to them in the letter of transmittal.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">THE EXCHANGE OFFER WILL EXPIRE AT
5:00&nbsp;P.M., NEW YORK CITY TIME,
ON &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004, UNLESS EXTENDED (THE <I>&#147;EXPIRATION DATE&#148;</I>).
TENDERS OF ORIGINAL NOTES MAY BE WITHDRAWN AT ANY TIME PRIOR TO
5:00&nbsp;P.M., NEW YORK CITY TIME, ON THE EXPIRATION
DATE.</FONT></B>

<P align="center">
<B><I><FONT size="2">The Exchange Agent for the Exchange Offer
is:</FONT></I></B>

<P align="center">
<B>Wells Fargo Bank, National Association</B>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="35%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="32%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="27%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <I><FONT size="2">By Mail (Registered or Certified<BR>
    Mail Recommended) or Courier:</FONT></I></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <I><FONT size="2">By Facsimile Transmission<BR>
    (Eligible Institutions Only):</FONT></I></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <BR>
    <I><FONT size="2">Confirm by Telephone<BR>
    (612) 316-4305</FONT></I></TD>
</TR>

<TR>
    <TD colspan="5"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <I><FONT size="2">Wells Fargo Bank, National Association<BR>
    Corporate Trust Operations<BR>
    MAC N9303-121<BR>
    Sixth Street and Marquette Avenue<BR>
    Minneapolis, MN 55479<BR>
    Attention: Amkor Exchange Offer</FONT></I></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <I><FONT size="2">(612) 677-6961<BR>
    Attention: Joe Taffe</FONT></I></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">DELIVERY OF THIS INSTRUMENT TO AN ADDRESS OTHER
THAN AS SET FORTH ABOVE OR TRANSMISSION OF INSTRUCTIONS VIA A
FACSIMILE NUMBER OTHER THAN AS SET FORTH ABOVE WILL NOT
CONSTITUTE A VALID DELIVERY. THE INSTRUCTIONS ACCOMPANYING THIS
NOTICE OF GUARANTEED DELIVERY SHOULD BE READ CAREFULLY BEFORE
THE NOTICE OF GUARANTEED DELIVERY IS COMPLETED.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This notice of guaranteed delivery is not to be
used to guarantee signatures. If a signature on a letter of
transmittal is required to be guaranteed by an &#147;Eligible
Institution&#148; under the instructions thereto, such signature
guarantee must appear in the applicable space in the box
provided on the letter of transmittal for guarantee of
signatures.
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="left">
<FONT size="2">Ladies and Gentlemen:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned hereby tenders to the Company, in
accordance with the Company&#146;s offer, upon the terms and
subject to the conditions set forth in the prospectus and the
related letter of transmittal, receipt of which the undersigned
hereby acknowledges, the aggregate principal amount of Original
Notes set forth below, pursuant to the guaranteed delivery
procedures set forth in the prospectus under the caption
&#147;The Exchange Offer&nbsp;&#151; Guaranteed Delivery
Procedures&#148; and in Instruction&nbsp;2 of the letter of
transmittal.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned hereby tenders the Original Notes
listed below:
</FONT>

<CENTER>
<TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="22%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="22%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="11%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="11"></TD>
</TR>

<TR>
    <TD colspan="11" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Certificate Number(s) (if known) of</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Aggregate Principal</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Aggregate Principal</FONT></B></TD>
</TR>

<TR>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Original Notes or DTC Account Number(s)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Amount Represented</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Amount Tendered*</FONT></B></TD>
</TR>

<TR>
    <TD colspan="11"></TD>
</TR>

<TR>
    <TD colspan="11" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="11" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="11" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="11" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="11" align="left"><HR size="1" noshade></TD>

</TR>

</TABLE>
</CENTER>

<P align="center">
<B><FONT size="2">PLEASE SIGN AND COMPLETE</FONT></B>

<P align="left">
<FONT size="2">Name of Record Holder(s):
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Name of eligible guarantor institution
guaranteeing delivery:
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Provide the following information for original
notes certificates to be delivered to the exchange agent:
</FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certificate
numbers for original notes tendered:
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Provide the following information for original
notes to be tendered by book-entry delivery:
</FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name
of Tendering Institution:&nbsp;</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DTC
account number:
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All authority herein conferred or agreed to be
conferred shall survive the death or incapacity of the
undersigned, and every obligation of the undersigned hereunder
shall be binding upon the heirs, personal representatives,
successors and assigns of the undersigned.
</FONT>

<P align="left">
<FONT size="2">Signature(s):
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Address:&nbsp;</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<DIV align="center">
<FONT size="2">(Include Zip Code)
</FONT>
</DIV>

<P align="left">
<FONT size="2">Area Code and Telephone Number:&nbsp;</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">Dated:&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
    2004
    </FONT></TD>
</TR>

</TABLE>

<DIV align="left">
<HR size="1" width="45%" align="left" noshade>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">*&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Unless otherwise indicated, any tendering holder
    of the Original Notes will be deemed to have tendered the entire
    aggregate principal amount represented by such Original Notes.
    All tenders must be in integral multiples of $1,000.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">THIS NOTICE OF GUARANTEED DELIVERY MUST BE SIGNED
BY THE REGISTERED HOLDER(S) OF ORIGINAL NOTES&nbsp;EXACTLY AS
THE NAME(S) OF SUCH PERSONS(S) APPEAR(S) ON CERTIFICATES FOR
ORIGINAL NOTES&nbsp;OR ON A SECURITY POSITION LISTING AS THE
OWNER OF ORIGINAL NOTES, OR BY PERSON(S) AUTHORIZED TO BECOME
HOLDER(S) BY ENDORSEMENT AND DOCUMENTS TRANSMITTED WITH THIS
NOTICE OF GUARANTEED DELIVERY. IF SIGNATURE IS BY A TRUSTEE,
EXECUTOR, ADMINISTRATOR, GUARDIAN, ATTORNEY-IN-FACT, OFFICER OR
OTHER PERSON ACTING IN A FIDUCIARY OR REPRESENTATIVE CAPACITY,
SUCH PERSON MUST PROVIDE THE FOLLOWING INFORMATION:
</FONT>

<P align="left">
<FONT size="2">PLEASE PRINT NAME(S) AND ADDRESS(ES)
</FONT>

<P align="left">
<FONT size="2">Name(s):&nbsp;</FONT>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD align="left">
    <HR size="1" align="left" noshade></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">Capacity:&nbsp;</FONT>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD align="left">
    <HR size="1" align="left" noshade></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">Address(es):&nbsp;</FONT>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD align="left">
    <HR size="1" align="left" noshade></TD>
</TR>

</TABLE>

<DIV align="left">
<HR size="1" width="87%" align="left" noshade>
</DIV>

<P align="center"><FONT size="2">2
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center">
<B><FONT size="2">THE FOLLOWING GUARANTEE MUST BE
COMPLETED</FONT></B>

<P align="center">
<B><FONT size="2">GUARANTEE OF DELIVERY</FONT></B>

<DIV align="center">
<B><FONT size="2">(NOT TO BE USED FOR SIGNATURE
GUARANTEE)</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned, a firm which is a member of a
registered national securities exchange or of the National
Association of Securities Dealers, Inc., a commercial bank or a
trust company having an office or correspondent in the United
States, or an &#147;eligible guarantor institution&#148; within
the meaning of Rule&nbsp;17(A)(d)-15 under the Securities
Exchange Act of 1934, hereby guarantees deposit with the
Exchange Agent of either (i)&nbsp;in the case of original notes
held in book-entry form, by book-entry transfer into the account
of the exchange agent at DTC, together with an agent&#146;s
message, and any required signature guarantees and other
required documents, or (ii)&nbsp;in the case of original notes
held in certificated form, by delivering to the exchange agent
certificates representing the original notes tendered hereby,
together with the letter of transmittal (or a manually signed
facsimile copy of the letter of transmittal), and any required
signature guarantees and other required documents, in either
case, by 5:00&nbsp;p.m., New York City time, within three New
York Stock Exchange trading days following the Expiration Date.
</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="52%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">Name of Firm:&nbsp;<BR>
    <HR size="1" noshade>Address of Firm:&nbsp;<BR>
    <HR size="1" noshade><HR size="1" noshade>(Include Zip Code)<BR>
    <BR>
    Area Code and Telephone No.:
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <HR size="1" width="100%" noshade align="right"><BR>
    <FONT size="2">(Authorized signature)<BR>
    Name:&nbsp;<BR>
    <HR size="1" width="100%" noshade align="right"><BR>
    Title:&nbsp;<BR>
    <HR size="1" noshade>(Please Type or Print)<BR>
    Date:&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="1" noshade></TD>

</TR>

</TABLE>
</CENTER>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">DO NOT SEND PHYSICAL CERTIFICATES REPRESENTING
ORIGINAL NOTES WITH THIS FORM. ACTUAL SURRENDER OF PHYSICAL
CERTIFICATES MUST BE MADE PURSUANT TO, AND BE ACCOMPANIED BY, A
PROPERLY COMPLETED AND DULY EXECUTED LETTER OF TRANSMITTAL AND
ANY OTHER REQUIRED DOCUMENTS.</FONT></B>

<P align="center"><FONT size="2">3
</FONT>

</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>11
<FILENAME>w97741exv99w3.htm
<DESCRIPTION>FORM OF LETTER TO BROKER
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="right">
<B><FONT size="2">Exhibit&nbsp;99.3</FONT></B>

<P align="center">
<B><FONT size="5">AMKOR TECHNOLOGY, INC.</FONT></B>

<P align="center">
<B><FONT size="4">OFFER FOR ALL OUTSTANDING</FONT></B>

<P align="center">
<B><FONT size="4">7&nbsp;1/8% SENIOR NOTES&nbsp;DUE
2011</FONT></B>

<P align="center">
<B>IN EXCHANGE FOR</B>

<P align="center">
<B>7&nbsp;1/8% SENIOR NOTES&nbsp;DUE 2011</B>

<P align="center">
<B>THAT HAVE BEEN REGISTERED UNDER THE</B>

<DIV align="center">
<B>SECURITIES ACT OF 1933, AS AMENDED</B>
</DIV>

<P align="center">
<B>PURSUANT TO THE PROSPECTUS,
DATED &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004</B>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<P align="left">
<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THE
EXCHANGE OFFER WILL EXPIRE AT 5:00&nbsp;P.M., NEW YORK CITY
TIME,
ON &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004, UNLESS EXTENDED (THE <I>&#147;EXPIRATION DATE&#148;</I>).
TENDERS OF ORIGINAL NOTES&nbsp;MAY BE WITHDRAWN AT ANY TIME
PRIOR TO 5:00&nbsp;P.M., NEW YORK CITY TIME, ON THE EXPIRATION
DATE.</B>
</DIV>

<P align="right">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004
</FONT>

<P align="left">
<FONT size="2">To Brokers, Dealers, Commercial Banks, Trust
Companies and Other Nominees:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Amkor Technology, Inc. (the &#147;Company&#148;)
is offering (the &#147;Exchange Offer&#148;), upon and subject
to the terms and conditions set forth in the prospectus,
dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004, and the enclosed letter of transmittal, to exchange its
7&nbsp;1/8%&nbsp;Senior Notes due 2011 (the &#147;Exchange
Notes&#148;), which have been registered under the Securities
Act of 1933, as amended, for a like principal amount of its
outstanding 7&nbsp;1/8%&nbsp;Senior Notes due 2011 (the
&#147;Original Notes&#148;). The Exchange Offer is being made in
order to satisfy certain obligations of the Company contained in
the Registration Rights Agreement, dated March&nbsp;12, 2004, by
and between the Company and the initial purchasers referred to
therein.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Your prompt action is requested. The Exchange
Offer will expire at 5:00&nbsp;p.m., New York City time, on the
Expiration Date. Original Notes tendered pursuant to the
Exchange Offer may be withdrawn at any time prior to
5:00&nbsp;p.m., New York City time, on the Expiration Date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We are requesting that you contact your clients
for whom you hold Original Notes regarding the Exchange Offer.
For your information and for forwarding to your clients for whom
you hold Original Notes registered in your name or in the name
of your nominee, or who hold Original Notes registered in their
own names, we are enclosing the following documents:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="3%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">1.&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Prospectus,
    dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
    2004;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">2.&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The letter of transmittal for your use and for
    the information of your clients;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">3.&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">A notice of guaranteed delivery to be used to
    accept the exchange offer if certificates for Original Notes are
    not immediately available or time will not permit all required
    documents to reach the Exchange Agent prior to 5:00&nbsp;p.m.,
    New York City time, on to the Expiration Date or if the
    procedure for book-entry transfer cannot be completed prior to
    5:00&nbsp;p.m., New York City time, on the Expiration
    Date;&nbsp;and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">4.&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">A form of letter which may be sent to your
    clients for whose account you hold Original Notes registered in
    your name or the name of your nominee, with space provided for
    obtaining such clients&#146; instructions with regard to the
    Exchange Offer.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">To participate in the Exchange Offer, a duly
executed and properly completed letter of transmittal for
Original Notes held in certificated form (or facsimile of the
letter of transmittal) or an agent&#146;s message instead of the
letter of transmittal for Original Notes held in book-entry
form, with any required signature guarantees and any other
required documents, should be sent to the Exchange Agent, and
certificates representing the Original Notes should be delivered
to the Exchange Agent or the Original Notes shall be tendered by
the book-entry procedures described in the prospectus under
&#147;The Exchange Offer&nbsp;&#151; Book-Entry Transfer,&#148;
all in accordance with the instructions set forth in the letter
of transmittal and the prospectus.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If a registered holder of Original Notes desires
to tender Original Notes, but such Original Notes are not
immediately available, or time will not permit such
holder&#146;s Original Notes or other required documents to
reach the Exchange Agent before the Expiration Date, or the
procedure for book-entry transfer cannot be completed on a
timely basis, a tender may be effected by following the
guaranteed delivery procedures described in the prospectus under
the caption &#147;The Exchange Offer&nbsp;&#151; Guaranteed
Delivery Procedures.&#148;
</FONT>

<P align="center">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Company will, upon request, reimburse
brokers, dealers, commercial banks and trust companies for
reasonable and necessary costs and expenses incurred by them in
forwarding the prospectus and the related documents to the
beneficial owners of Original Notes held by them as nominee or
in a fiduciary capacity. The Company will pay or cause to be
paid all transfer taxes applicable to the exchange of Original
Notes pursuant to the Exchange Offer, except as set forth in
Instruction&nbsp;6 of the letter of transmittal.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Any inquiries you may have with respect to the
procedure for tendering Original Notes pursuant to the Exchange
Offer, or requests for additional copies of the enclosed
materials, should be directed to Wells Fargo Bank, National
Association, the Exchange Agent for the Exchange Offer, at its
address and telephone number set forth on the front of the
letter of transmittal.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Very truly yours,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Amkor Technology, Inc.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">NOTHING HEREIN OR IN THE ENCLOSED DOCUMENTS
SHALL CONSTITUTE YOU OR ANY PERSON AS AN AGENT OF AMKOR
TECHNOLOGY, INC. OR THE EXCHANGE AGENT, OR AUTHORIZE YOU OR ANY
OTHER PERSON TO USE ANY DOCUMENT OR MAKE ANY STATEMENTS ON
BEHALF OF EITHER OF THEM WITH RESPECT TO THE EXCHANGE OFFER,
EXCEPT FOR STATEMENTS EXPRESSLY MADE IN THE PROSPECTUS OR THE
LETTER OF TRANSMITTAL.</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Enclosures
</FONT>

<P align="center"><FONT size="2">2
</FONT>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>12
<FILENAME>w97741exv99w4.htm
<DESCRIPTION>FORM OF LETTER TO CLIENTS
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w4</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="right">
<FONT size="2"> <B>Exhibit&nbsp;99.4</B>
</FONT>
</DIV>

<P align="center">
<B><FONT size="5">AMKOR TECHNOLOGY, INC.</FONT></B>

<P align="center">
<B><FONT size="4">OFFER FOR ALL OUTSTANDING</FONT></B>

<P align="center">
<B>7&nbsp;1/8% SENIOR NOTES&nbsp;DUE 2011</B>

<P align="center">
<B>IN EXCHANGE FOR</B>

<P align="center">
<B>7&nbsp;1/8% SENIOR NOTES&nbsp;DUE 2011</B>

<P align="center">
<B>THAT HAVE BEEN REGISTERED UNDER THE</B>

<DIV align="center">
<B>SECURITIES ACT OF 1933, AS AMENDED</B>
</DIV>

<DIV align="center">
<B>PURSUANT TO THE PROSPECTUS,
DATED &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004</B>
</DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<P align="left">
<B>THE EXCHANGE OFFER WILL EXPIRE AT 5:00&nbsp;P.M., NEW YORK
CITY TIME,
ON &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004, UNLESS EXTENDED (THE <I>&#147;EXPIRATION DATE&#148;</I>).
TENDERS OF ORIGINAL NOTES&nbsp;MAY BE WITHDRAWN AT ANY TIME
PRIOR TO 5:00&nbsp;P.M., NEW YORK CITY TIME, ON THE EXPIRATION
DATE.</B>
</DIV>

<P align="right">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004
</FONT>

<P align="left">
<FONT size="2">To Our Clients:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Enclosed for your consideration is a prospectus,
dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004, and the related letter of transmittal relating to the
exchange offer (the &#147;Exchange Offer&#148;) by Amkor
Technology, Inc. (the &#147;Company&#148;) to exchange its
7&nbsp;1/8%&nbsp;Senior Notes due 2011 (the &#147;Exchange
Notes&#148;), which have been registered under the Securities
Act of 1933, as amended, for its outstanding
7&nbsp;1/8%&nbsp;Senior Notes due 2011 (the &#147;Original
Notes&#148;), upon the terms and subject to the conditions
described in the prospectus and the letter of transmittal. The
Exchange Offer is being made in order to satisfy certain
obligations of the Company contained in the Registration Rights
Agreement, dated March&nbsp;12, 2004, by and between the Company
and the initial purchasers referred to therein.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This material is being forwarded to you as the
beneficial owner of the Original Notes held by us for your
account but not registered in your name. A TENDER OF SUCH
ORIGINAL NOTES&nbsp;MAY ONLY BE MADE BY US AS THE HOLDER OF
RECORD AND PURSUANT TO YOUR INSTRUCTIONS.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Accordingly, we request instructions as to
whether you wish us to tender on your behalf the Original Notes
held by us for your account, pursuant to the terms and
conditions set forth in the enclosed prospectus and letter of
transmittal.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Your instructions should be forwarded to us as
promptly as possible in order to permit us to tender the
Original Notes on your behalf in accordance with the provisions
of the Exchange Offer. The Exchange Offer will expire at
5:00&nbsp;P.M., New York City time,
on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2004, unless extended by the Company, which we refer to as the
Expiration Date. Any Original Notes tendered pursuant to the
Exchange Offer may be withdrawn at any time prior to
5:00&nbsp;p.m., New York City time, on the Expiration Date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Your attention is directed to the following:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">1.&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The Exchange Offer is for any and all Original
    Notes.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">2.&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The Exchange Offer is subject to certain
    conditions set forth in the prospectus in the section captioned
    &#147;The Exchange Offer&nbsp;&#151; Conditions to the
    Completion of the Exchange Offer.&#148;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">3.&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Any transfer taxes incident to the transfer of
    Original Notes from the holder to the Company will be paid by
    the Company, except as otherwise provided in the instructions in
    the letter of transmittal.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">4.&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The Exchange Offer expires at 5:00&nbsp;P.M., New
    York City time,
    on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
    2004, unless extended by the Company.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If you wish to have us tender your Original
Notes, please so instruct us by completing, executing and
returning to us the instruction form on the back of this letter.
THE LETTER OF TRANSMITTAL IS FURNISHED TO YOU FOR INFORMATION
ONLY AND MAY NOT BE USED DIRECTLY BY YOU TO TENDER ORIGINAL
NOTES.
</FONT>

<P align="center">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center">
<B><FONT size="2">INSTRUCTIONS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned acknowledge(s) receipt of your
letter and the enclosed materials referred to therein relating
to the Exchange Offer of the Company with respect to the
Original Notes.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned hereby represents and warrants
that the undersigned has full power and authority to tender,
sell, assign and transfer all right, title and interest in the
Original Notes and to acquire the Exchange Notes, issuable upon
the exchange of such Original Notes, and that, when such validly
tendered Original Notes are accepted by the Company for
exchange, the Company will acquire good and unencumbered title
thereto, free and clear of all liens, restrictions, charges and
encumbrances and not subject to any adverse claim.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">By completing, executing and delivering these
instructions, the undersigned hereby makes the acknowledgments,
representations and warranties referred to above and instructs
you to tender the Original Notes held by you for the account of
the undersigned, upon the terms and subject to the conditions
set forth in the prospectus and letter of transmittal.
</FONT>

<P align="center">
<B><FONT size="2">ORIGINAL NOTES&nbsp;WHICH ARE TO BE
TENDERED</FONT></B>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="15%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="14%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="14%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="15%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="14%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="11"></TD>
</TR>

<TR>
    <TD colspan="11" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Principal Amount Held</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Certificate Number(s)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">for Account of</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Principal Amount to be</FONT></B></TD>
</TR>

<TR>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">(If Available)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Holder(s)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Tendered*</FONT></B></TD>
</TR>

<TR>
    <TD colspan="11"></TD>
</TR>

<TR>
    <TD colspan="11" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="11" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD colspan="11" align="left"><HR size="1" noshade></TD>

</TR>

</TABLE>
</CENTER>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">*&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Unless otherwise indicated, the entire aggregate
    principal amount indicated in the box entitled &#147;Principal
    Amount Held for Account of Holder(s)&#148; will be tendered.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">None of the Original Notes held by us for your
account will be tendered unless we receive written instructions
from you to do so. Unless a specific contrary instruction is
given in the space provided, your signature(s) hereon shall
constitute an instruction to us to tender all the Original Notes
held by us for your account.
</FONT>

<P align="center"><FONT size="2">2
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center">
<B><FONT size="2">IMPORTANT</FONT></B>

<P align="center">
<B><FONT size="2">PLEASE SIGN HERE</FONT></B>

<DIV align="center">
<B><FONT size="2">(to be completed by all tendering
holders)</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">THE COMPLETION, EXECUTION AND TIMELY DELIVERY OF
THESE INSTRUCTIONS WILL BE DEEMED TO CONSTITUTE AN INSTRUCTION
TO TENDER ORIGINAL NOTES&nbsp;AS INDICATED ABOVE.
</FONT>

<P align="left">
<FONT size="2">Signature(s):
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Name(s) (please print):
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Address:
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Zip Code:
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Area Code and Telephone No.:
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Tax Identification or Social Security No.:
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">My Account Number with You:
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Date:
</FONT>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">Must be signed by the registered holder(s) of the
Original Notes exactly as its (their) name(s) appear(s) on
certificate(s) or on a security position listing, or by the
person(s) authorized to become registered holder(s) by
endorsement and documents transmitted herewith. If signature is
by a trustee, executor, administrator, guardian,
attorney-in-fact, officer or other person acting in a fiduciary
or representative capacity, such person must set forth his or
her full title next to his or her name above. See
Instruction&nbsp;4 to the letter of transmittal.
</FONT>

<P align="center"><FONT size="2">3
</FONT>
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