Intel to invest $1 billion in India

Chipmaker Intel Corporation has announced a $1 billion-plus,
multi-year investment roadmap for India.

Unveiling the investment plans, Intel Corporation chairman
Craig Barrett said, "We plan to invest $800 million over the next five
years to expand business operations in India. Investments will focus on
expanding the R&D center in Bangalore in addition to marketing, education
and community programs."

CRAIG BARRETT Investments to nurture technology development for the local use

He also announced the creation of the $250 million Intel
Capital India Technology Fund to help stimulate local technology innovation and
growth.

"The investments will focus on Indian hardware and
software companies to nurture technology development for the local use. The fund
will also selectively invest in technology-oriented service companies that
target overseas markets," he added.

Till now, Intel Capital has provided funding to more than 40
companies in seven Indian cities since it started investing in 1998.

Elaborating on the fund, president of Intel Capital Arvind
Sodhani said, "The fund is expected to accelerate IT adoption and
entrepreneurial drive in India. We are interested in investing in sectors such
as cellular communication, broadband application, wireless technology, software
and hardware design and Internet economy companies."

Intel also announced The Volunteer Matching Grant Program,
which encourages employees to volunteer in local schools. For every 20 hours an
Intel employee volunteers at a school, the Intel Foundation will donate $50 to
the institution.

Intel will also increase its efforts over the next three
years to train teachers to use technology through the Intel Teach to the Future
program.

Over the next three years, an additional 500,000 teachers
will be trained, doubling the number of teachers that have completed the program
over the past five years. Intel will also expand its after-school,
community-based Intel Learn program to reach students in at least six — seven
states in India through more than 300 technology centers.

The company is currently undertaking pilot projects in two states under this
initiative.

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