PMC Announces Redemption of 2.25% Senior Convertible Notes

As a result of the call for redemption, the notes may also be surrendered by the Company's holders for conversion through October 18, 2012, as provided for in the indenture.

Independent of such redemption and related conversion right, holders of the notes have the right at their option to require PMC to purchase their notes on October 15, 2012. This can be done at a purchase price payable in cash equal to one hundred percent of the principal amount of the notes plus accrued and unpaid interest.

PMC had previously repurchased most of the original issuance of $225 million principal amount of the notes. Approximately $68.3 million of the principal amount of the notes remain outstanding.

Safe Harbor Statement

This release contains forward-looking statements that may involve risks and uncertainties. The Company's SEC filings describe the risks associated with the Company's business, including PMC's limited revenue visibility due to variable customer demands, market segment growth or decline, orders with short delivery lead times, customer concentration, changes in inventory, and other items such as foreign exchange rates and volatility in global financial markets.