LENOVO ANNOUNCES MEMORANDUM OF UNDERSTANDING TO ACQUIRE PACKARD BELL
HONG KONG, August 7, 2007 – Lenovo today announced that the Company is in discussion with an independent third party in relation to a proposed acquisition of Packard Bell, a computer company in Europe and has entered into a memorandum of understanding with such party to explore the possibilities of the proposed acquisition. The Company is currently continuing negotiation with the independent third party and undertaking certain necessary enquiries with third parties and/or government bodies in preparation for the entering into of definitive agreements for such proposed acquisition.
The transaction, if materialized, may constitute a discloseable transaction of the Company under the Hong Kong Stock Exchange listing rules. Shareholders of Lenovo and potential investors should note that the proposed acquisition may or may not materialize. Further announcement will be made by the Company as and when appropriate to comply with the Hong Kong Stock Exchange listing rules.
About Lenovo Lenovo (HKSE: 992) (ADR: LNVGY) is dedicated to building the world's best-engineered personal computers. Lenovo's business model is built on innovation, operational efficiency and customer satisfaction, as well as a focus on investment in emerging markets. Formed by Lenovo Group's acquisition of the former IBM Personal Computing Division, the company develops, manufactures, and markets reliable, high-quality, secure, and easy-to-use technology products and services worldwide. Lenovo has major research centers in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina. For more information, see www.lenovo.com .