Dr. Michael Jaffe Appointed as Preliminary Insolvency Administrator for Qimonda

Business Wire, Jan 23, 2009

MUNICH, Germany -- The local court in Munich today appointed Dr. Michael Jaffe, a lawyer specialized in insolvency law and expert in restructuring, as preliminary insolvency administrator for Qimonda AG and Qimonda Dresden OHG. Today, both companies petitioned for the opening of insolvency proceedings, Qimonda AG due to illiquidity and Qimonda Dresden OHG due to threatening illiquidity. Together with the Management Board, Dr. Jaffe will inform employees and the public in a timely and comprehensive manner about the next steps.

The best-known common insolvency proceedings and restructuring cases handled by Dr. Michael Jaffe are KirchMedia and KirchBeteiligung, Knaus Tabbert Group, textile manufacturer TWD and NICI AG.

About Qimonda

Qimonda AG (NYSE: QI) is a leading global memory supplier with a diversified DRAM product portfolio. The company generated net sales of Euro 1.79 billion in financial year 2008 and had - prior to its announcement of a repositioning of its business - approximately 12,200 employees worldwide, of which 1,400 were in Munich, 3,200 in Dresden and 2,800 in Richmond (Virginia, USA). The company provides DRAM products with a focus on infrastructure and graphics applications, using its power saving technologies and designs. Qimonda is an active innovator and brings high performance, low power consumption and small chip sizes to the market based on its breakthrough Buried Wordline technology. Further information is available at www.qimonda.com.

Disclaimer

This press release contains forward-looking statements based on assumptions and forecasts made by Qimonda management and third parties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and speak only as of the date they are made. We undertake no obligation to update any of them in light of new information or future events. These forward-looking statements involve inherent risks and are subject to a number of uncertainties, including trends in demand and prices for semiconductors generally and for our products in particular, the success of our development efforts, both alone and with our partners, the success of our efforts to introduce new production processes at our facilities and the actions of our competitors, the availability of funds for planned investments and repositioning efforts and the outcome of antitrust investigations and litigation matters, as well as other factors. We caution you that these and a number of other known and unknown risks, uncertainties and other factors could cause actual future results, or outcomes to differ materially from those expressed in any forward-looking statement. These factors include those identified under the heading "Risk Factors" in our most recent Annual Report on Form 20-F which is available without charge on our website and at www.sec.gov.