SMART Modular's Secondary Offering

SMART Modular Technologies, Inc., an independent manufacturer of memory modules, embedded computing subsystems, and TFT-LCD display products, today announced the filing of a registration statement pursuant to which certain shareholders, including Texas Pacific Group, Francisco Partners and Shah Capital Partners, intend to offer and sell 12,500,000 ordinary shares.

The selling shareholders intend to grant to the underwriters of the offering an option to purchase up to 1,875,000 additional ordinary shares to cover over-allotments. SMART will not receive any proceeds from the offering. SMART's ordinary shares trade on The NASDAQ Global Select Market under the symbol "SMOD".

The joint book-running managers for the offering will be Citigroup Corporate and Investment Banking, J.P. Morgan Securities Inc. and Lehman Brothers Inc. The co-managers of the offering will be Bear, Stearns & Co. Inc., Cowen and Company, LLC and Thomas Weisel Partners LLC.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective - SMART Modular Technologies.