SINGAPORE and SUNNYVALE, Calif. -- Flextronics Photonics, a business unit of Flextronics (Nasdaq: FLEX), and Silicon Light Machines (SLM), an optical subsidiary of Cypress Semiconductor (NYSE: CY), today announced a manufacturing agreement in which Flextronics Photonics will provide packaging design services and manufacture telecommunications equipment for SLM that utilizes its Grating Light Valve(TM) (GLV(TM)) technology. Currently used in high-resolution displays, GLV technology offers a means for increasing the signal bandwidth and reliability for fiber optic communications products. Initial products manufactured by Flextronics are expected to ship in the second quarter of 2002. "Silicon Light Machines is aggressively expanding the application of our proven GLV technology by designing innovative optical networking subsystems for telecommunications carriers," said Tom Werner, President and CEO of Silicon Light Machines. "As we move into this fast-paced market, we are relying on the packaging and assembly expertise of Flextronics Photonics to help us design and manufacture the next generation of optical networking products." Flextronics Corp.Silicon Light Machines