Rim Semiconductor reduces strike price on warrants issued in May 2005

By Sheri Kasprzak

New York, March 9 - Rim Semiconductor Co. said it has dropped the strike price on class A, B and C warrants issued in connection with a senior secured convertible debenture offering closed in May 2005.

The strike price of the warrants may be temporarily reduced to $0.05. The price reduction will expire on March 10.

Warrants for 12,443,442 shares had been exercisable at $0.1547 each and warrants for 27,149,316 shares had been exercisable at $0.3094 each.

The investors affected by the new price include Yokim Asset Management Corp., Whalehaven Capital Fund Ltd., Clearview International Investment, Ltd., Double U Master Fund LP, Gross Foundation Inc., Notzer Chesed, Barucha Pension LLC, Nite Capital LP, Quines Financial SA, Alexander Hasenfield Inc. Profit Sharing and Retirement Plan, HIS Partnership and Advisor Associates Inc.

The company's stock remained unchanged March 8 at $0.17 but lost 11.76%, or 2 cents, to close at $0.15 on Thursday (OTCBB: RSMI).

Based in Portland, Ore., Rim Semiconductor develops semiconductor technologies used in communications products.

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