Press Release

10/22/2003

SynQor Opens 100,000 sq. ft. Corporate Headquarters and Manufacturing Facility

Doubling in Space Will Support Growing DC-DC Converter Business

Boxborough, Mass – SynQor, the technology leader in DC-DC converters, is relocating its corporate headquarters to a new facility in Boxborough, Massachusetts. The company is consolidating two locations currently located in Hudson and Marlborough, MA, while expanding space for current and future operations. The new building provides over 100,000 square feet to house SynQor's corporate employees and production lines, and to support SynQor's continued rapid growth by doubling the total space available for manufacturing, engineering and R&D. The lease is one of the largest real estate signings in the Boston metro area for 2003.

The two-story building will meet all of SynQor's requirements for its high quality production and support activities. Located just 30 miles from Boston, the new facility is in close proximity to some of SynQor's largest customers, including Cisco, Lucent and Hewlett-Packard.

"SynQor will gain tremendous efficiencies and cost savings by consolidating to the Boxborough facility," said Buzz Hofmann, Executive Vice President of SynQor. "We are bringing together all our Massachusetts based employees under one roof, while doubling our space and reducing our total rent." Hofmann adds, "Although the cost savings are an added benefit, the main reason for the expansion is to support our growing business which has seen a large increase over the past 12 months."

The Boxborough office will support continued hiring across all functions as well as sustained growth in production capacity. The expansion complements SynQor's recent push into the Pacific Rim, which included office openings in Japan, China, Korea and Singapore. SynQor also maintains regional offices in Dallas, Texas and Amberg, Germany.

The company relocation will begin in October and be completed by the end of November 2003 with no interruptions to SynQor's current production scheduling. Effective November 10, 2003, SynQor's new mailing address, telephone and fax will be as follows:

SynQor, Inc.
155 Swanson Road
Boxborough, MA 01719-1316
Main phone: 978-849-0600
Main fax: 978-849-0601
Toll free: 888-567-9596
Web: www.synqor.com

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