Business Description
Advanced Micro Devices, Inc. (AMD) is a semiconductor manufacturer with facilities in the United States, Europe and Asia and sales offices throughout the world. The Company's products include a wide variety of digital integrated circuits that are used in diverse product applications, such as personal computers, workstations, servers, telecommunications equipment, data and network communications equipment, and consumer electronics. In 2001, the Company participated in the microprocessor, memory circuit and logic circuit areas through its Core Products and Foundry Services segments. The Core Products segment includes its PC processors, memory products and other IC products. The Foundry Services segment consisted of service fees from Legerity, Inc., AMD's former voice communication products subsidiary, and Vantis Corporation. Vantis was sold in February 2002.

Financial Information
AMD is a semiconductor manufacturer with manufacturing facilities in the U.S. and Asia and sales offices throughout the world. For the six months ended 6/30/02, revenues fell 31% to $1.50 billion. Net loss totalled $194.1 million vs. an income of $142.2 million. Results reflect a decrease in sales of AMD memory products, principally flash memory devices. Loss reflects lower gross margins and a decrease in interest and other income.