For Reference Purpose Only

To Shareholders:

March 23, 2012

Notice to Shareholders

Please be advised that notices pursuant to the article 43, paragraph 3 and article 85, paragraph 4 of the Corporate Reorganization Act were issued by the Tokyo District Court upon the issuance of the order to commence corporate reorganization proceedings of our company dated March 23, 2012.

Yours faithfully,

Yukio Sakamoto

Nobuaki Kobayashi

Trustees of Elpida Memory, Inc., as the Reorganizing Company

[Translation]

Case No.: Heisei 24 (Mi) No. 1 Corporate Reorganization Case
Reorganizing Company: Elpida Memory, Inc.
(2-1 Yaesu 2-chome, Chuo-ku, Tokyo)
To Shareholders,
March 23, 2012
The 8th Civil Division of the Tokyo District Court
Risa Nomura, Court Clerk

NOTICE

With respect to the case first above written, since our court commenced the corporate reorganization proceedings under the Corporate Reorganization Act at 5 p.m. on March
23, 2012, we hereby notify thereof pursuant to the provisions of Article 43, Paragraph 3 and Article 85, Paragraph 4 of the same act.
1. Main text of the Order to Commence Reorganization Proceedings
Corporate reorganization proceedings are to be commenced with respect to Elpida
Memory, Inc.
2. Names of the Trustees
Nobuaki Kobayashi, Attorney-at-law, and
Yukio Sakam oto
3. Period during which Proofs of Reorganization Claims, etc., should be filed
By May 21, 2012
4. Period to examine Proofs of Reorganization Claims, etc.
From June 26, 2012 to July 3, 2012
5. Period during which the Reorganizing Company, Reorganization Creditors, Shareholders, Labor Union, etc., may submit their Opinion with respect to the Appointment of the Trustees
By April 20, 2012
6. A holder of the property of the reorganizing company shall not deliver the same to the reorganizing company. The delivery of the same must be made to the Trustees or a person designated by the Trustees.
7. A person who owes to the reorganizing company shall not repay its obligation to the reorganizing company. The repayment of such obligation must be made to the
Trustees or a person designated by the Trustees.
- End -
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[Translation]

(Notes)

About the Opinion with respect to the Appointment of Trustees

1. The Reorganizing Company, reorganization creditors, shareholders, etc., may submit their opinion in writing with respect to the appointment of the Trustees by April 20, 2012.

2. The document containing your opinion with respect to the appointment of the Trustees should be addressed to:

"The section in charge of Elpida Memory, Inc. as the Reorganizing Company in the 8th Civil

Division of the Tokyo District Court at 1-2 Kasumigaseki 1-chome, Chiyoda-ku, Tokyo

100-8920 Japan".

For inquiries, please contact the below.

For Inquiries:

Trustees' Office at Elpida Memory, Inc., the Reorganizing Company
Address: 2-1 Yaesu 2-chome, Chuo-ku, Tokyo 104-0028 Japan

(Please refrain from making an inquiry to the court.)

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This press release was issued by Elpida Memory Inc. and was initially posted at http://www.elpida.com/pdfs/pr/2012-03-23ce.pdf . It was distributed, unedited and unaltered, by noodls on 2012-03-23 14:51:57 PM. The issuer is solely responsible for the accuracy of the information contained therein.