Dublin, Ireland - April 25, 2000 - Silicon Systems plc, a
developer of highly integrated silicon intellectual property solutions
targeting the emerging mobile commerce market, today announced that it
intends to seek an initial public offering (the "Offering") of its
ordinary shares on the London Stock Exchange and the Nasdaq National
Market. It also intends to change its name to Parthus Technologies and to
do business under the Parthus tradename.
It is currently contemplated that the Offering will be targeted
primarily at institutional investors, and will be effected prior to the
summer; however, its exact timing will depend on specific market
conditions and corporate factors.
The Offering will be made only by means of a prospectus. This press
release does not constitute an offer to sell or a solicitation of an offer
to buy any securities.
"For UK purposes, this announcement has been issued by and is the
sole responsibility of, Silicon Systems plc and has been approved for the
purposes of S.57 of the Financial Services Act 1986 by an authorised
person who is regulated in the UK by the Securities and Futures Authority
"This press release does not constitute an offer of securities for
sale in the United States. The Company's shares may not be offered or sold
in the United States absent registration or an exemption from
registration. The Company intends to file a registration statement with
the Securities and Exchange Commission in connection with the proposed
offering of its shares in the United States. Any public offering of the
Company's shares to be made in the United States will be made by means of
a prospectus that may be obtained from the Company and that will contain
detailed information about the Company and management, as well as the
Company's financial statements."