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published NOVEMBER 17, 2009

Shearman & Sterling Advises on Proposed Acquisition of Silicon Storage Technology (SST) by Prophet Equity and Members of SST Management

Shearman & Sterling represented the Strategic Committee of independent directors of the Board of Directors of Silicon Storage Technology, Inc., a memory and non-memory products provider for high-volume applications in the digital consumer, networking, wireless communications and internet computing markets, in its merger agreement with acquisition entities established by Prophet Equity, a Texas-based private equity firm. Pursuant to the Merger Agreement and subject to its terms and conditions, shareholders of SST (other than SST's CEO and COO, who have agreed to roll over all of their SST shares in the transaction) would receive $2.10 in cash per share. Principal attorneys working on this transaction include partner Steve Camahort (San Francisco - Mergers & Acquisitions) and associates Dana Kromm (San Francisco - Mergers & Acquisitions) and Danielle Giles (San Francisco - Mergers & Acquisitions). Other lawyers involved included partners Tina Patel (Menlo Park - Intellectual Property), Larry Crouch (Menlo Park - Tax), Beau Buffier (New York - Antitrust) and John Cannon (New York - Executive Compensation & Employee Benefits) and associates Ajay Chanayil (New York - Antitrust) and Adam Kaminsky (New York - Executive Compensation & Employee Benefits).