5th August 2004

AGM Statement


At the Annual General Meeting of Imagination Technologies Group plc today, Chairman Geoff Shingles will make the following comments to shareholders:

“”Our strategy of delivering complementary system-on-chip (SoC) IP cores from our three fundamental technology families, PowerVR, Metagence and Ensigma, has shown significant success over the last 12 months. Our partner portfolio is strong and includes five of the worldwide top ten semiconductor companies together with a number of partnerships with fast moving fabless semiconductor manufacturers and top tier consumer brands.

Our partners, which include Intel, Frontier Silicon, Renesas, Sharp, SEGA, Sunplus, Samsung, Texas Instruments (TI), Philips and ARM, now have more than 20 SoC devices in development or production utilizing our IP. Several partners have reached significant milestones in the deployment of our IP with seven SoCs publicly announced including TI’s OMAP2, Renesas’ SH-Mobile3 and SH7770 and Intel’s 2700G.

We now have SoCs announced by our partners targeting digital radio, digital TV, mobile phone/PDA and in-car markets. Four SoCs using our IP are now shipping, including the first MBX enabled SoCs, and earning royalties. We expect to see a marked increase in royalty revenues as anticipated in the second half of this financial year as an increasing number of chips incorporating our IP achieve volume shipment.

We are continuing to invest in the required support for our growing customer base as well as the development of future generations of our PowerVR, META and UCC IP offerings; the strong roadmap we are creating is the key to securing future business with our partners.

Our prospects with both new and existing partners remain strong across the broad spectrum of our IP with continued high levels of interest and positive negotiations currently progressing particularly in the areas of mobile phone, digital TV and mobile TV. We continue to target further members of the worldwide semiconductor top ten as well as other strategic opportunities. As we have mentioned before, whilst we cannot be precise on the timing of licence deal closure, or the timing of chip shipment by our customers, we feel confident that we will continue to make good progress over the course of the year.””


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