JAZZ SEMICONDUCTOR ANNOUNCES THE FILING OF A REGISTRATION STATEMENT FOR THE INITIAL PUBLIC OFFERING OF ITS COMMON STOCK


NEWPORT BEACH, Calif., January 21, 2004
-- Jazz Semiconductor, Inc. today announced that it has filed a Registration Statement on Form S-1 with the Securities and Exchange Commission in connection with the initial public offering of its common stock. The securities to be offered in the proposed IPO will include shares to be issued and sold by Jazz Semiconductor as well as shares to be sold by current stockholders of Jazz Semiconductor.

Jazz Semiconductor is an independent semiconductor wafer foundry focused primarily on specialty process technologies for the manufacture of analog and mixed-signal semiconductors.

Credit Suisse First Boston LLC and Lehman Brothers Inc. are the joint bookrunning managers for the offering. SG Cowen Securities Corporation, Wachovia Capital Markets, LLC, Thomas Weisel Partners LLC and Needham & Company, Inc. are the co-managers. The selling stockholders will also grant the underwriters an option to purchase additional shares to cover over-allotments, if any. The offering of common stock will be made only by means of a prospectus. When available, a copy of the preliminary prospectus relating to this offering may be obtained from Credit Suisse First Boston LLC, Eleven Madison Avenue, New York, NY 10010-3629 or Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717.



About Jazz Semiconductor Jazz Semiconductor is an independent semiconductor wafer foundry that specializes in mixed-signal and radio frequency (RF) technologies for use in wireless communications, optical networking, power management and other ultra-high performance applications. The company, based in Newport Beach, California, was founded in March of 2002 as a privately held company with the Carlyle Group as the majority shareholder. Jazz expands on the offerings of a traditional pure play foundry by focusing on mixed signal and RF technology processes, design platforms, and experienced engineering support. To learn more, visit www.jazzsemi.com.



Jazz Contact
Jeff McHenry
Executive Director, Marketing.
(949) 435-8245
jeff.mchenry@jazzsemi.com

Jazz Media Contact
Kerry Fedro
(949) 453-8080
kerry@lages.com








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