'The memory card market is demonstrating growing momentum as it diversifies beyond digital still cameras and into new consumer electronics devices, such as multimedia handsets, MP3 players, GPS andportable gaming devices'.

'Given M-Systems' unique position as a Flash data storage expert and as a trusted partner to leading OEMs worldwide, we have taken a strategic decision to expand the Company's product portfolio and take advantage of thesegrowth opportunities', said Noam Kedem, Vice President of Marketing for M-Systems.

'In doing so, we leverage existing core competencies that have enabled us to solidify our leadership in the USB and embedded Flash drive business, such as ourinfrastructure, Flash expertise and our global OEM network, strengthened by today's announced acquisition of Microelectronica Espanola'.

'This acquisition will additionally position M-Systems as a memory card solution provider with smart-card-gradesecured manufacturing capabilities'.

The new memory cards, together with the company's DiskOnChip embedded Flash drives and its MegaSIM products will enable M-Systems to offer a unique product portfolio for a wide range of mobile and consumerapplications.

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