Verigy announces receipt of revised unsolicited proposal from Advantest

CUPERTINO, USA: Verigy Ltd has received a revised proposal from Advantest Corp. to acquire all of the outstanding Verigy ordinary shares for $15.00 per share in cash.

The Verigy Board is not making any recommendation with respect to the revised Advantest proposal at this time, and Verigy currently anticipates continuing to engage in discussions with Advantest regarding its revised proposal, including regulatory considerations in connection with a potential transaction.

There can be no assurances that any transaction will result from the revised Advantest proposal or Verigy's discussions with Advantest.

The Verigy Board continues to recommend the LTX-Credence merger agreement to its
shareholders and is not withdrawing its recommendation to Verigy shareholders in support of the pending merger between Verigy and LTX-Credence, or proposing to do so, at this time.

Pursuant to the merger agreement with LTX-Credence, Verigy also announced that it expects to file today its Registration Statement on Form S-4 and joint proxy statement with the Securities and Exchange Commission.

A copy of Advantest's revised proposal to Verigy will be filed with the SEC.
Morgan Stanley is acting as financial advisor to Verigy. Wilson Sonsini Goodrich & Rosati is acting as Verigy's US. legal counsel and Allen & Gledhill is acting as Verigy's Singapore counsel.