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San Jose, CA, October 29, 2008…Atmel® Corporation (Nasdaq: ATML), today announced that, after careful consideration, its Board of Directors has unanimously determined that the October 1, 2008, unsolicited proposal from Microchip Technology Inc. (NASDAQ: MCHP) and ON Semiconductor Corporation (NASDAQ: ONNN) is inadequate in multiple respects, including value, conditionality and complexity, and is not in the best interests of Atmel's stockholders.