SILREC ANNOUNCEMENT

Silrec Corporation, a privately owned U.S. based silicon wafer supplier founded in 1986, expects within two years of commencement of full operation to employ 20 new people. The project represents an investment of approximately $1.5 million to the state of Kentucky.

"Our focus in Kentucky is on improving economic and educational opportunities so our children and grandchildren will have an even better quality of life," said Governor Patton. "Providing new opportunities to the people of Lexington is an important part of that process, and we welcome Silrec Corporation to a state that values both its people and its employers."

"We are pleased to welcome our newest corporate citizen, Silrec Corporation. This project is the product of many hours of hard work over the last year on the part of Kentucky Economic Development Cabinet, Lexington United and local officials," said Cabinet Secretary Gene Strong. We look forward to a long and mutually beneficial relationship with Silrec Corporation.

Silrec Corporation received preliminary approval for tax incentives by the Kentucky Economic Development Finance Authority (KEDFA) through the Kentucky Industrial Development Act (KIDA).

Silrec Corporation is a small specialty manufacturer of silicon wafers for the semiconductor industry that is moving from San Jose, California to Lexington, Kentucky. Silrec manufactures wafers and recycles other silicon products for the semiconductor and solar power industries.

"Kentucky is blessed with cheap power, affordable land, reasonable operating costs, and Lexington United, whose efforts greatly helped in our decision to relocate", said President and owner Alan Goldberg. Lexington United is the local economic development group that worked with Mr. Goldberg to recruit his company to Central Kentucky.

Newly elected Mayor of Lexington Teresa Isaac said of the project, "Silrec's decision to come to Lexington is the greatest form of advertisement we can have. Hopefully this will encourage other companies from the Silicon Valley area to look more closely at Lexington as a city in which to expand or relocate their operations."