ACL Semiconductors, Inc. Issues Second Quarter Performance Guidance and Update on Acquisition of Classic Electronics HONG KONG, July 27 /PRNewswire-FirstCall/ -- ACL Semiconductors, Inc. (OTC:ACLO) (BULLETIN BOARD: ACLO) today released anticipated guidelines for operating performance for the quarter ending 30 June 2004. The Company anticipates that sales for the three months ending June 30 will approximate US$25 million. This would represent an increase of 56% over the result for the comparable period last year. Whilst details of net operating profit for the period are currently under auditor review, the result is expected to comfortably exceed the comparable result for 2003. In announcing this guidance, Alan Yang, CEO, commented, "We are pleased that we have been able to continue the stellar performance of the first quarter and are well on track to achieve our financial goals for the year. This is despite a slight softening in the global semiconductor market and downward pressure on DRam prices over the past few months. Our position as a leading supplier of memory solutions to major electronics manufacturers in southern China largely insulates us from global fluctuations in memory demand, as rapid expansion in the domestic China market for consumer electronics continues to accelerate and drive our top line growth." Mr. Yang continued, "Our pending acquisition of Classic Electronics continues on track and will be completed when our auditors, Stonefield Josephson, finalize the US GAAP audit of Classic's accounts, which is expected within the next 2 weeks. Classic continues to excel on an operating basis and will be an important contributor to the Group's overall performance from this year onwards." Mr. Yang concluded, "We are encouraged by consistent growth in our core business and, in the process of continually building our team at ACL, we expect to be announcing an additional key board appointment shortly." About ACL Semiconductors, Inc.: ACL has been a leading distributor of Samsung memory chip products, including DRam, Flash, SRam and Mask ROM products for the Hong Kong and Southern China markets since 1991. ACL Semiconductors, Inc. trades on the OTCBB under the symbol, ACLO. Forward-Looking Statements: The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this document that are not purely historical are forward-looking statements, including any statements as to beliefs, plans, expectations, or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices, and other economic factors. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions. For More Information Contact: Friedland Capital Group Dara Podber 201-420-7437 Nils Ollquist, Orient Financial Services Limited, Financial Advisors to ACL Semiconductors. +852 90950455 (Telephone) +852 2166 8999 (Facsimile) (Email) http://www.atlantic.com.hk/ (Website) DATASOURCE: ACL Semiconductors, Inc. CONTACT: Dara Podber of Friedland Capital Group, +1-201-420-7437, or ; or Financial Advisors, Nils Ollquist of Orient Financial Services Limited, +852-90950455, or fax, +852-2166-8999, or , both for ACL Semiconductors, Inc. Web site: http://www.atlantic.com.hk/

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