ON Semiconductor Corporation and AMIS Holdings, Inc. Stockholders Approve Merger

  
    
  
  
    
      ON Semiconductor Corporation (NASDAQ: ONNN) and AMIS Holdings, Inc. 
      (NASDAQ: AMIS) announced that stockholders of each company have voted in 
      favor of ON Semiconductor’s proposed 
      acquisition of AMIS in a stock-for-stock merger at their respective 
      special stockholders meetings held today. For both companies, in excess 
      of a majority of the shares outstanding were cast in favor of the 
      proposals relating to the merger. Over 90 percent of the shares voted in 
      both companies were voted FOR the merger.
    
    
      Under the terms of the merger agreement, holders of AMIS common stock 
      will generally receive 1.15 shares of ON Semiconductor common stock for 
      each share of AMIS common stock they own at the closing of the merger. 
      The transaction is expected to close on Monday, March 17, 2008, subject 
      to the satisfaction of customary closing conditions.
    
    
      About ON Semiconductor
    
    
      With its global logistics network and strong portfolio of power 
      semiconductor devices, ON Semiconductor (NASDAQ: ONNN) is a preferred 
      supplier of power solutions to engineers, purchasing professionals, 
      distributors and contract manufacturers in the power supply, computer, 
      consumer, portable/wireless, automotive and industrial markets. For more 
      information, please visit ON Semiconductor’s 
      website at http://www.onsemi.com.
    
    
      About AMI Semiconductor
    
    
      AMI Semiconductor (NASDAQ: AMIS) is a leader in the design and 
      manufacture of silicon solutions for the real world. As a widely 
      recognized innovator in state-of-the-art mixed-signal and digital 
      products, AMIS is committed to providing customers in the automotive, 
      medical, industrial, mil/aero, and communication markets with the 
      optimal value, quickest time-to-market semiconductor solutions. AMI 
      Semiconductor operates globally with headquarters in Pocatello, Idaho, 
      European corporate offices in Oudenaarde, Belgium, and a network of 
      sales and design centers located in the key markets of the North 
      America, Europe and the Asia Pacific region. For more information, 
      please visit the AMIS Web site at www.amis.com.
    
    
      ON Semiconductor and the ON Semiconductor logo are registered 
      trademarks of Semiconductor Components Industries, LLC. All other 
      brand and product names appearing in this document are registered 
      trademarks or trademarks of their respective holders. Although 
      the company references its website in this news release, information on 
      the website is not to be incorporated herein.
    
    
      This news release includes “forward-looking 
      statements” as that term is defined in Section 
      27A of the Securities Act of 1933, as amended, and Section 21E of the 
      Securities Exchange Act of 1934, as amended. All statements other than 
      statements of historical fact are statements that could be deemed 
      forward-looking statements and are often characterized by the use of 
      words such as “believes,” 
      “expects,” “estimates,” 
      “projects,” “may,” 
      “will,” “intends,” 
      “plans,” or “anticipates,” 
      or by discussions of strategy, plans or intentions. These 
      forward-looking statements include, but are not limited to, statements 
      related to the benefits of the proposed transaction between ON 
      Semiconductor Corporation (“ON”) 
      and AMIS Holdings, Inc. (“AMIS”) 
      and the future financial performance of ON. These forward-looking 
      statements are based on information available to ON and AMIS as of the 
      date of this release and current expectations, forecasts and assumptions 
      and involve a number of risks and uncertainties that could cause actual 
      results to differ materially from those anticipated by these 
      forward-looking statements. Such risks and uncertainties include a 
      variety of factors, some of which are beyond ON’s 
      or AMIS’ control. In particular, such risks 
      and uncertainties include difficulties encountered in integrating merged 
      businesses; the risk that the transaction does not close, including the 
      risk that the requisite stockholder and regulatory approvals may not be 
      obtained; the risk that ON is not able to repay or refinance AMIS’ 
      outstanding debt prior to or concurrent with the completion of the 
      merger transaction; the variable demand and the aggressive pricing 
      environment for semiconductor products; dependence on each company’s 
      ability to successfully manufacture in increasing volumes on a 
      cost-effective basis and with acceptable quality its current products; 
      the adverse impact of competitive product announcements; revenues and 
      operating performance, changes in overall economic conditions, the 
      cyclical nature of the semiconductor industry, changes in demand for our 
      products, changes in inventories at customers and distributors, 
      technological and product development risks, availability of raw 
      materials, competitors' actions, pricing and gross margin pressures, 
      loss of key customers, order cancellations or reduced bookings, changes 
      in manufacturing yields, control of costs and expenses, significant 
      litigation, risks associated with acquisitions and dispositions, risks 
      associated with leverage and restrictive covenants in debt agreements, 
      risks associated with international operations, the threat or occurrence 
      of international armed conflict and terrorist activities both in the 
      United States and internationally, risks and costs associated with 
      increased and new regulation of corporate governance and disclosure 
      standards (including pursuant to Section 404 of the Sarbanes-Oxley Act 
      of 2002), and risks involving environmental or other governmental 
      regulation. Information concerning additional factors that could cause 
      results to differ materially from those projected in the forward-looking 
      statements is contained in ON’s Annual Report 
      on Form 10-K as filed with the Securities and Exchange Commission (the “SEC”) 
      on February 12, 2008, Quarterly Reports on Form 10-Q Current Reports on 
      Form 8-K and other of ON’s SEC filings, and 
      AMIS’ Annual Report on Form 10-K as filed 
      with the SEC on February 26, 2008, Quarterly Reports on Form 10-Q, 
      Current Reports on Form 8-K and other of AMIS’ 
      SEC filings. These forward-looking statements should not be relied upon 
      as representing ON’s or AMIS’ 
      views as of any subsequent date and neither undertake any obligation to 
      update forward-looking statements to reflect events or circumstances 
      after the date they were made.