Jazz Semiconductor Announces the Filing of a Registration Statement for the Initial Public Offering of its Common Stock

Newport Beach, CA – 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.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the security laws of any such state.

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