Dynex Announces Advance Payment from CSR Times Electric



    Listing: TSX Venture Exchange
    Symbol: DNX

    Payment Forms Part of New Distributor Arrangements

    LINCOLN, England, Feb. 6 /CNW Telbec/ - Dynex Power Inc., a leading
specialist high power semiconductor company, today announced that its UK
subsidiary, Dynex Semiconductor Ltd., has agreed new distributor arrangements
with CSR Times Electric. Following the acquisition of a 75% shareholding in
Dynex by CSR Times Electric, Dynex has appointed CSR Times Electric to be its
main distributor for high power semiconductors in The People's Republic of
China. CSR Times Electric has placed an order on Dynex for deliveries in 2009
amounting to US$2,047,850. In order to secure this capacity, CSR Times
Electric has paid in advance for the full amount of the order. In recognition
of this, Dynex has agreed to credit CSR Times Electric with interest on the
outstanding balance each quarter at US Prime rate plus 2%.
    At the same time, CSR Times Electric has appointed Dynex to be its main
distributor for high power semiconductors in Europe. Under both agreements,
the parts will be sold to the distributor at the market price less a discount
to cover the cost of the work carried out by the party handling the
distribution.

    About the Company

    Dynex designs and manufactures high power bipolar semiconductors, high
power insulated gate bipolar transistor (IGBT) modules, high power electronic
assemblies and radiation hard silicon-on-sapphire integrated circuits (SOS
IC's). The company's power products are used worldwide in power electronic
applications including electric power transmission and distribution, renewable
and distributed energy, marine and rail traction motor drives, aerospace,
electric vehicles, industrial automation and controls and power supplies. Our
IC products are used in demanding applications in the aerospace industry.
Dynex Semiconductor Ltd is its only operating business and is based in
Lincoln, England in a facility housing the fully integrated silicon
fabrication, assembly and test, sales, design and development operations.
Dynex is majority owned by Zhuzhou CSR Times Electric Co., Ltd.

    Zhuzhou CSR Times Electric Co., Ltd. is based in Hunan Province in the
People's Republic of China. It is listed on the Hong Kong stock exchange. CSR
Times Electric is the leading train-borne electrical system provider and
integrator for the railway industry in China. It is also engaged in
developing, manufacturing and selling train power converters, auxiliary power
supply equipment and control systems for trains for urban rail systems. In
addition, CSR Times Electric designs, manufactures and sells electrical
components including power semiconductor devices.

    Press announcements and other information about Dynex are available at
www.dynexsemi.com.

    Further information on CSR Times Electric can be found at
www.timeselectric.cn/en
    %SEDAR: 00010667E




For further information:

For further information: Dr. Paul Taylor, President and Chief Executive
Officer; Bob Lockwood, Finance Director and Chief Financial Officer, Dynex
Power Inc., +44 1522 500 500, investorrelations@dynexsemi.com


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890