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Amkor Amends Bank Credit Agreement & Repays $125 Million in Debt

CHANDLER, Ariz., Nov 8, 2001 (BUSINESS WIRE) -- Amkor Technology, Inc. (Nasdaq:AMKR) said that its banks and lenders have consented to amend the Company's secured credit agreement. Effective September 30, 2001, the Amendment replaces the existing financial covenants from the 3rd quarter of 2001 through the 4th quarter of 2002 with covenants based on minimum liquidity, maximum capital expenditures and minimum levels of EBITDA. The existing credit agreement includes a $223 million Term Loan B due 2005 and a $200 million revolving credit facility. In connection with this amendment, Amkor elected to pay down the Term Loan B from $223 million to $98 million and reduce the revolving credit facility from $200 million to $100 million. There are no borrowings outstanding under the revolving credit facility.

"With the cooperation of our banks and lenders, we believe we have crafted an amendment that will provide Amkor with the flexibility necessary to manage through the current industry downturn," said Ken Joyce, Amkor's Chief Financial Officer. "With approximately $200 million in cash after paying down $125 million of the term loan, together with an additional $100 million available under the revolver, we continue to have solid liquidity," said Joyce.

Amkor is the world's largest provider of contract microelectronics assembly and test services. The company offers semiconductor companies and electronics OEMs a complete set of microelectronic design and manufacturing services, including deep sub-micron wafer fabrication; wafer probe, wafer mapping, characterization and reliability testing; IC packaging design and assembly; multi-chip module design and assembly; and final testing. More information on Amkor is available from the company's SEC filings and on Amkor's web site: www.amkor.com. 

CONTACT:          Amkor Technology, Inc., Chandler
                  Jeffrey Luth
                  Vice President, Investor Relations
                  480/821-2408 ext. 5130
                  jluth@amkor.com

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