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Financial Releases

Simtek Announces Engagement of Strategic Advisor

COLORADO SPRINGS, Colo.--Simtek Corporation (NASDAQ: SMTK - News), the inventor, pioneer, and world’s leading supplier of nonvolatile static random access memory (nvSRAM) integrated circuits, today announced it has engaged Pagemill Partners, LLC to assist the Board with respect to the Cypress Semiconductor statement of intent, as set forth in the Schedule 13D/A filed with the Securities and Exchange Commission on Wednesday, February 6th, 2008, and other strategic options in order to maximize long-term value for shareholders.

“The team at Pagemill, led by Managing Director Nels Nelsen, represented Simtek on the ZMD acquisition in 2005,” said Harold A. Blomquist, Simtek's president and chief executive officer. “Simtek has maintained close working relations with the senior members of the Pagemill team, since. We look forward to working with them to determine the best course of action for the Company at this time.”

About Simtek Corporation
Simtek Corporation designs and markets "NV + fast SRAM" nonvolatile semiconductor memory products for use in a variety of systems including RAID servers, storage arrays, GPS navigational systems, industrial controllers, robotics, copiers, avionics, metering, consumer, UPS, and networking and broadcast equipment. Information on Simtek products can be obtained from its web site: www.simtek.com; email: information@simtek.com. The company is headquartered in Colorado Springs, Colorado.



Contact:
Simtek Corp.
Brian Alleman, CFO
information@simtek.com

or

MKR Group, Inc.
Todd Kehrli, 323-468-2300
smtk@mkr-group.com