^*We define free cash flow as net cash provided by operating activities less purchases of property, plant and equipment. Free cash flow is not defined by generally accepted accounting principles. However, we believe free cash flow to be relevant and useful information to our investors because it provides them with additional information in assessing our liquidity, capital resources and financial operating results. Our management uses free cash flow in evaluating our liquidity, our ability to service debt and our ability to fund capital expenditures. However, this measure should be considered in addition to, and not as a substitute for, or superior to, cash flows or other measures of financial performance prepared in accordance with generally accepted accounting principles, and our definition of free cash flow may not be comparable to similarly titled measures reported by other companies.

AMKOR TECHNOLOGY, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
		For the Three Months Ended
		March 31,
			2008						2007
		(in thousands, except per share data)
Net sales		$	699,483					$	650,988
Cost of sales			523,331						503,650
Gross profit			176,152						147,338
Operating expenses:
Selling, general and administrative			65,449						62,667
Research and development			13,856						9,625
Total operating expenses			79,305						72,292
Operating income			96,847						75,046
Other (income) expense:
Interest expense, net			27,433						35,160
Interest expense, related party			1,563						1,563
Foreign currency gain			(9,477	)					(15	)
Other (income) expense, net			(806	)					(686	)
Total other expense, net			18,713						36,022
Income before income taxes and minority interests
			78,134						39,024
Income tax expense			5,940						4,107
Income before minority interests			72,194						34,917
Minority interests, net of tax			(198	)					(327	)
Net income		$	71,996					$	34,590
Net income per common share:
Basic		$	0.40					$	0.19
Diluted		$	0.36					$	0.18
Shares used in computing net income per common share:
Basic			182,134						178,513
Diluted			209,396						206,540

AMKOR TECHNOLOGY, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
		March 31,						December 31,
			2008						2007
		(In thousands)
ASSETS
Current assets:
Cash and cash equivalents		$	411,713					$	410,070
Restricted cash			2,635						2,609
Accounts receivable:
Trade, net of allowances			362,879						393,493
Other			5,813						4,938
Inventories			151,480						149,014
Other current assets			36,265						27,290
Total current assets			970,785						987,414
Property, plant and equipment, net			1,492,455						1,455,111
Goodwill			682,725						673,385
Intangibles, net			18,574						20,321
Restricted cash			1,859						1,725
Other assets			55,479						54,650
Total assets		$	3,221,877					$	3,192,606
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Short-term borrowings and current portion of long-term debt		$	64,308					$	152,489
Trade accounts payable			378,858						359,313
Accrued expenses			170,204						165,271
Total current liabilities			613,370						677,073
Long-term debt			1,502,549						1,511,570
Long-term debt, related party			100,000						100,000
Pension and severance obligations			202,578						208,387
Other non-current liabilities			30,765						33,935
Total liabilities			2,449,262						2,530,965
Minority interests			7,945						7,022
Stockholders ’ equity:
Preferred stock			-						-
Common stock, $0.001 par value, 500,000 shares authorized, issued and outstanding of 182,573 in 2008 and 181,799 in 2007
			183						182
Additional paid-in capital			1,489,626						1,482,186
Accumulated deficit			(749,530	)					(821,526	)
Accumulated other comprehensive income (loss)			24,391						(6,223	)
Total stockholders ’ equity			764,670						654,619
Total liabilities and stockholders ’ equity		$	3,221,877					$	3,192,606

AMKOR TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
		For the Three Months Ended
		March 31,
			2008					2007
		(In thousands)
Cash flows from operating activities:
Net income		$	71,996				$	34,590
Depreciation and amortization			73,517					71,364
Other operating activities and non-cash items			3,798					(1,298	)
Changes in assets and liabilities			31,905					18,793
Net cash provided by operating activities			181,216					123,449
Cash flows from investing activities:
Purchases of property, plant and equipment			(88,839	)				(51,386	)
Proceeds from the sale of property, plant and equipment			339					3,945
Other investing activities			(277	)				(1,177	)
Net cash used in investing activities			(88,777	)				(48,618	)
Cash flows from financing activities:
Borrowings under revolving credit facilities			619					35,221
Payments under revolving credit facilities			-					(45,272	)
Payments of long-term debt			(101,086	)				(145,149	)
Payments for debt issuance costs			-					(351	)
Proceeds from issuance of stock through stock compensation plans			6,088					12,524
Net cash used in financing activities			(94,379	)				(143,027	)
Effect of exchange rate fluctuations on cash and cash equivalents			3,583					640
Net increase (decrease) in cash and cash equivalents			1,643					(67,556	)
Cash and cash equivalents, beginning of period			410,070					244,694
Cash and cash equivalents, end of period		$	411,713				$	177,138

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