ATI Technologies Inc.

ATI Technologies Inc.

March 24, 2006 08:00 ET

ATI Announces Normal Course Issuer Bid

MARKHAM, ONTARIO--(CCNMatthews - March 24, 2006) - ATI Technologies Inc. (TSX:ATY)(NASDAQ:ATYT) today announced that a Notice of Intention to make a Normal Course Issuer Bid has been filed with, and accepted by, the Toronto Stock Exchange ("TSX"). Under its normal course issuer bid, ATI may purchase up to 25,100,000 of its common shares, representing approximately 10% of the "public float" as of March 15, 2006 (calculated in accordance with TSX Rules and Policies to be 251,566,282 common shares). A total of 253,594,151 common shares were issued and outstanding as of March 15, 2006. ATI will cancel any common shares purchased pursuant to the normal course issuer bid. The purchases may commence on Thursday, March 30, 2006 and will terminate on Thursday, March 29, 2007, or on such earlier date as ATI may complete its purchases pursuant to the Notice of Intention to make a normal course issuer bid filed with the TSX. Purchases will be made on the open market by ATI through the facilities of the TSX or the Nasdaq Stock Market Inc. ("NASDAQ"). The purchases will be made by ATI in accordance with TSX Rules and Policies and Rule 10b-18 of the U.S. Securities Exchange Act of 1934. The prices that ATI will pay for any purchased common shares will be the market price of such shares on the TSX or NASDAQ, as the case may be, at the time of acquisition. ATI will make no purchases of common shares other than open-market purchases. ATI has purchased 2,408,100 of its common shares within the past 12 months at an average price of US$12.89 per share pursuant to its normal course issuer bid commenced on March 30, 2005.

ATI is renewing its normal course issuer bid as it believes that its common shares are an attractive investment and that normal course purchases represent an excellent opportunity to enhance value for shareholders. ATI's strong cash position allows for the implementation of the normal course issuer bid without adversely affecting ATI's other growth opportunities.

About ATI Technologies

ATI Technologies Inc. is a world leader in the design and manufacture of innovative 3D graphics, PC platform technologies and digital media silicon solutions. An industry pioneer since 1985, ATI is the world's foremost graphics processor unit (GPU) provider and is dedicated to deliver leading-edge performance solutions for the full range of PC and Mac desktop and notebook platforms, workstation, set-top and digital television, game console and handheld device markets. With fiscal 2005 revenues of US $2.22 billion, ATI has more than 3,400 employees in the Americas, Europe and Asia. ATI common shares trade on NASDAQ (ATYT) and the Toronto Stock Exchange (ATY).

Copyright 2006 ATI Technologies Inc. All rights reserved. ATI and ATI product and product feature names are trademarks and/or registered trademarks of ATI Technologies Inc. All other company and product names are trademarks and/or registered trademarks of their respective owners. Features, pricing, availability and specifications are subject to change without notice.

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Contact Information

  • ATI Technologies Inc.
    Chris Evenden
    Director, Public Relations
    (905) 882-2629
    Other ATI Contacts:
    Porter Novelli Canada
    Derek Baker, Manager
    (416) 422-7158
    For investor relations support, please contact:
    ATI Technologies Inc.
    Zev Korman, Investor Relations
    (905) 882-2600, Ext. 3670