Class Action Filed Against Atmel Corporation on Behalf of Shareholders Who Purchased Securities Between January 20, 2000 and July 31, 2002 by the Law Firm of Stull, Stull & Brody

Business Wire, Feb 12, 2003

Business Editors/Legal Writers

LOS ANGELES--(BUSINESS WIRE)--Feb. 12, 2003

A class action lawsuit was filed today in the United States District Court for the Northern District of California on behalf of purchasers of Atmel Corporation ("Atmel" or the "Company") (NasdaqNM: ATML) securities between January 20, 2000 and July 31, 2002, inclusive (the "Class Period").

The Complaint charges that the Company and its Chief Executive and Chief Financial Officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10-b(5). The action alleges that defendants issued a series of false and misleading statements concerning the Company's financial condition, resulting in plaintiff and the Class purchasing their Atmel stock at artificially inflated prices.

Specifically, the Complaint charges that defendants repeatedly issued press releases announcing "record" revenues, all the while knowing that the Company should not have been recording revenue from the sale of defective chips to its customers, including Seagate Technology Inc. ("Seagate"), the world's largest manufacturer of hard disk drives. The Complaint alleges that if the Company had properly recorded revenue during the Class Period, and not included the sales of defective chips, Atmel's stock would have traded at lower prices during the Class Period. The Complaint further alleges that on July 31, 2002 the truth regarding Atmel's business practices became known when it became public that Seagate had sued Atmel for selling Seagate defective chips. The Complaint charges that as a result of defendants' actions, plaintiff and the Class were damaged.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Stull, Stull & Brody, which has significant experience and expertise in prosecuting class actions on behalf of investors.

If you purchased Atmel securities between January 20, 2000 to July 31, 2002, inclusive, you may be a member of the class and have until April 8, 2003 to move the Court to serve as lead plaintiff, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. To be a member of the class, however, you do not need to take any action at this time. Should you decide to seek appointment as a lead plaintiff, you may retain Stull Stull & Brody, or counsel of your choice.

If you have any questions concerning this notice or your rights or interests with respect to this matter, please contact Michael Braun or Patrice Bishop of Stull, Stull & Brody toll free at 888-388-4605 or via e-mail at info@secfraud.com or visit the firm's web-site at www.secfraud.com.