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Altera Completes Review

SAN JOSE, Calif. -- Altera Corporation (NASDAQ:ALTR - News) today announced that the company has completed its review of the company's historical stock option practices and related accounting. The review was conducted under the direction of a special committee of independent board members assisted by independent counsel and accounting experts.

The company expects to file with the Securities and Exchange Commission a Form 10-K/A for 2005 and Form 10-Qs for the first and second quarters of 2006 by the NASDAQ-established listing deadline of October 26, 2006.

Altera had previously announced that, as a result of the committee's review, the company expected to restate prior financial statements to correct errors related to accounting for stock-based compensation expense. In addition, the company previously announced that it would record an estimated pre-tax charge of $18 million relating to stock option grant measurement date errors and $20-30 million related to modifications of stock option agreements and that the restatement would not affect historical revenues or the 2005 income statement.

Altera Corp. (Nasdaq: ALTR)

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