Phoenix, Arizona, August 5, 1999 - With the flip of a switch, Steve Hanson, President of the largest manufacturer of discrete, standard analog and standard logic semiconductor components, turned on a new company today. At a press conference held at the company's headquarters in Phoenix, Ariz., Hanson symbolically used the switch to reveal ON Semiconductor, the new name and corporate identity of a former division of Motorola, which was acquired by Texas Pacific Group under terms announced by the parent company on August 5.

Hanson noted that the name ON Semiconductor conveys the sense of an electrifying event, while at the same time represents the simplicity and pervasiveness of the company's products. "We are committed to providing our customers with the highest quality power and interface components at competitive prices with the most reliable delivery and ease of purchase, " Hanson said. "We are eliminating any possible reason for the customer to buy from other suppliers."

Initiated in March 1998, a focused strategy coupled with global joint ventures and a manufacturing restructuring process has positioned ON Semiconductor to maximize its success in leading the world in supplying high volume power and interface components. ON Semiconductor has developed focused joint ventures with: Leshan, China, focusing on small signal products; Roznov in the Czech Republic, focusing on supplying both raw silicon wafers and low cost analog technologies; and Piestany, Slovakia, focusing on power TMOS and metal gate logic families. These joint ventures complement ON Semiconductor's diverse global organization and enhance its ability to provide faster cycle times and speed development of new products in battery management, portable and networking applications.

In addition to a quality, low-cost manufacturing approach, ON Semiconductor has deployed a dedicated sales force to assist development engineers and purchasing agents that work under pressure with little time to spend on the semiconductor components needed to complete their product designs. Through the combined effort of the OEM sales force, distribution and Electronic Manufacturers Service Industry (EMSI), ON Semiconductor serves its customers in an efficient manner and pursues service excellence.

Roy Vallee, chief executive officer and chairman of the board of AVNET described ON Semiconductor as: "A company being built on a heritage of leadership and pervasiveness. As ON Semiconductor's largest distribution partner we will continue to service the right markets for strong growth based on the long established reputation of the company and its history of quality products."

David Stanton, partner, Texas Pacific Group also commented: "We are extremely excited about the prospects for this new company. Everyone affiliated with this former division of Motorola, especially customers, employees, and suppliers, will have the best of both worlds: the great history of Motorola's support and, now, the focused competitiveness of a new, growing, independent enterprise."

To complement the new name, the company also unveiled a new logo: a green icon that resembles an "on" button emphasizes ON Semiconductor's expertise in creating the products that turn on technology and connect it to your world.

About ON Semiconductor
ON Semiconductor, formerly a division of Motorola, is the world's leading supplier of analog, logic and discrete semiconductor components with shipments of 15 billion units in 1998 totaling $1.5 billion in sales. These power and interface products are an integral part of electronics that provide the security, convenience and entertainment in today's world.

About Texas Pacific Group
Texas Pacific Group, formed in 1993, is sponsor of TPG Partners II,L.P., of Fort Worth, a private investment partnership with capital of approximately $2.5 billion. TPG's principals include David Bonderman, James G. Coulter, and William S. Price. The partnership and its principals have completed significant investments in technology and telecommunications (Paradyne, ZiLOG, GlobeSpan Semiconductor, GT Com, Landis & Gyr Communications), food and beverage products (Beringer Wine Estates, Del Monte Foods), retail (J. Crew), healthcare services (Oxford Health Plans) and airlines (Continental, America West).

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For more information, you may view this event's web broadcast or contact:

Yinka Massally
Public Relations Manager
ON Semiconductor
Linda Capcara
Account Director
Brodeur Worldwide

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