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TI Issues Statement on Legal Action Pending in Delaware Chancery Court

Mar 17, 2004

DALLAS (March 17, 2004) – Texas Instruments (TI) [NYSE: TXN] issued the following statement about the legal actions pending between TI and Qualcomm today:

“We are pleased that the Delaware Court of Chancery has set TI's case against Qualcomm for breach of contract on a fast track for trial,” stated Joe Hubach, TI Senior Vice President and General Counsel.

In an order issued Monday, the Court offered to try the case in May or June of this year. The Court declined at this time to grant TI's early motion to dismiss Qualcomm's counterclaim for breach of the confidentiality provision of the TI/Qualcomm agreement, but stated that, "At the present time, there are so few facts before the Court that it cannot conclude that the alleged breach of the confidentiality provision is immaterial." The Court pointed out that cases cited by TI in its pre-discovery motion to dismiss were decided only after the courts had a more complete record. The parties were encouraged by the Court to complete discovery and briefing on any summary judgment motions within the next 60 days.

“After the relevant documents have been exchanged, TI intends to refile its motion to dismiss as a motion for summary judgment,” Hubach said.

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