SMTK SmartKem Inc

Simtek Corporation (NASDAQ:SMTK), the inventor, pioneer, and world's leading supplier of nonvolatile static random access memory (nvSRAM) integrated circuits, today announced that it has shipped evaluation samples of its 4-Megabit product to multiple beta customers. These beta customers, who represent the server, industrial control, large storage systems, and solid-state disk markets, are industry leaders in their respective markets. Simtek anticipates shipping fully-qualified sample quantities of product in Q4 2007 and ramping to full-volume production in early Q1 2008. The 4-Megabit product line is the result of a multi-year strategic partnership with Cypress Semiconductor to expand Simtek�s nvSRAM product family and add the superior SONOS manufacturing capability of Cypress� fab in Minnesota. The 4-Megabit density offers unparalleled functionality and will enable existing Simtek customers to transition to the new, more advanced solution at very attractive price points. Further, this high-performance product line is expected to expand the available target markets for the Company. �Shipping evaluation samples to our beta customers is an exciting milestone here at Simtek, and we�re pleased with the quality of beta customers placing orders, the level of interest from current and prospective customers, as well as the feedback we�ve received to date on the 4-Megabit device,� said Harold A. Blomquist, Simtek's president and chief executive officer. �Together with Cypress Semiconductor, we have collaborated effectively to reach this critical milestone, and look forward to opening the door to new and greater market opportunities previously unavailable to us.� The company completed the initial tape-out of the 4-Megabit Autostore nvSRAM along with Cypress Semiconductor Corp in April. It is the first Simtek product to utilize Cypress' 0.13um SONOS process. About Simtek Corporation Simtek Corporation designs and markets high-speed, nonvolatile semiconductor memory products, for use in a variety of systems including RAID servers, storage arrays, GPS navigational systems, industrial controllers, robotics, copiers, avionics, metering, consumer, UPS, and networking and broadcast equipment. Information on Simtek products can be obtained from its web site: www.simtek.com; email: information@simtek.com. The company is headquartered in Colorado Springs, Colorado. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements predicting Simtek's future growth. These forward-looking statements are inherently difficult to predict and involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, projections of future performance including predictions of future profitability and expectations of the business environment in which Simtek operates. For a detailed discussion of these and other risk factors, please refer to Simtek's filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K and subsequent Form 10-Q and Form 8-K filings.