Kopin Trades Kendin to Micrel

TAUNTON, Mass. -- Kopin Corporation (Nasdaq: KOPN) today announced that it will transfer its interest in Kendin Communications Inc. to Micrel, Inc. (Nasdaq: MCRL) in exchange for Micrel stock. The transaction is a result of Micrel's recent agreement to acquire Kendin, a fabless semiconductor company whose high-performance integrated circuits are used in the communications and networking markets.

Under the agreement, Kopin will exchange its 20% interest in Kendin for 1.1 million shares of Micrel stock. The transaction is expected to close by June 2001 and is subject to standard closing conditions, including pending anti-trust review under the Hart-Scott-Rodino Act and other government approvals. Micrel will register the stock issued in connection with this transaction within six months of the closing date.

"We are very pleased with Micrel's planned acquisition of Kendin," said Dr. John C. C. Fan, Kopin's president and chief executive officer. "This transaction will further strengthen our financial position and add value for Kopin shareholders." Dr. Fan, who is also chairman of Kendin's Board of Directors, will relinquish his Kendin board seat upon the closing of this transaction.

Kopin Corp.