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Phoenix, AZ (April 24, 2000) - ON Semiconductor, a manufacturer of analog, logic and discrete semiconductors, today announced net income of $25.5 million in the first quarter of 2000 compared to pro forma net income of $4.5 million for the same period last year. Net product revenues in the first quarter were $451.5 million, an increase of 21% from pro forma net product revenues of $373.3 million in the first quarter of 2000 and up 6% from the fourth quarter of 1999.

After the close of the quarter, in April, ON Semiconductor concluded its acquisition of Cherry Semiconductor for $250 million. As previously reported, this acquisition complements the Company's strategy to better support the Company's wireless, automotive and computer customers.

ON Semiconductor is a former division of Motorola that was acquired by Texas Pacific Group on August 4, 1999. The results reported are pro forma for the periods prior to this transaction. The pro forma information is based on the historical financial information of the Semiconductor Components Group of Motorola, as adjusted to give effect to the Company's August 1999 recapitalization. It is presented as if ON Semiconductor had been an independent company for the periods presented. The pro forma financial data was prepared using assumptions and is provided for illustrative purposes. It does not purport to represent the Company's actual financial information.

About ON Semiconductor

ON Semiconductor is one of the world's largest suppliers of analog, standard logic, and discrete semiconductors for data and power management. ON Semiconductor's products include integrated circuits for high-bandwidth data applications, analog ICs for power management and low-voltage power transistors. In addition to using micropackaging technology across all product families, ON Semiconductor offers the largest selection of discrete semiconductors in a variety of surface mount and standard packages. These semiconductors turn on and connect digital electronic products to our world. ON Semiconductor is the trade name of SCG Holding Corporation's affiliate, Semiconductor Components Industries, LLC.

Motorola is a registered trademark of Motorola, Inc.

[Some statements contained in this press release may be forward looking statements, subject to risks and uncertainties that could cause ON Semiconductor's actual results and financial position to differ materially from those statements. These risks and uncertainties include, but are not limited to, the cyclical nature of the semiconductor industry, fluctuations in our quarterly operating results, new product development and technological change, competition in our industry, and the ability of ON Semiconductor to integrate the Cherry Semiconductor business and realize the synergies expected as a result of the acquisition. Investors should also consult the Company's publicly available Securities and Exchange Commission filings for additional information about these and other risks and uncertainties. The Company assumes no obligation to update forward looking statements to reflect actual results or changed assumptions or other factors.]

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Motorola is a registered trademark of Motorola, Inc.

For more information:

Dan Martin
Director Investor Relations
ON Semiconductor
602-244-4905

Linda Capcara
Group Manager
Brodeur Worldwide
602-954-0044
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About onsemi

onsemi (Nasdaq: ON) is driving disruptive innovations to help build a better future. With a focus on automotive and industrial end-markets, the company is accelerating change in megatrends such as vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure. With a highly differentiated and innovative product portfolio, onsemi creates intelligent power and sensing technologies that solve the world’s most complex challenges and leads the way in creating a safer, cleaner, and smarter world.

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onsemi and the onsemi logo are 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.

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