Altera Corporation (NASDAQ:ALTR) today announced that the company has entered into a five-year $750 million unsecured credit facility. At this time, Altera has not borrowed any funds using this facility. The credit agreement provides for an interest rate based on the London interbank offered rate plus a margin based on the company’s leverage ratio.

Citigroup Global Markets Inc and Banc of America Securities LLC have acted as joint lead arrangers and book managers.

The company previously announced a share repurchase plan of up to $1.0 billion to be completed during 2007 and the first half of 2008. The company intends to use, as necessary, approximately $500 million from the credit facility in order to now repurchase up to $1.5 billion of Altera shares within the same period. The company does not contemplate further credit drawdowns at this time.

Under the repurchase program the company has repurchased 29.3 million shares, year to date, at a cost of $651 million.

Forward-Looking Statements

Statements in this press release that are not historical are "forward-looking statements" as the term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally written in the future tense and/or preceded by words such as "will," "expects," "anticipates," “intends,” or other words that imply or predict a future state. Forward-looking statements include projections concerning the amount and timing of share repurchases and credit facility utilization. Investors are cautioned that all forward-looking statements in this release involve risks and uncertainty that can cause actual results to differ from those currently anticipated, due to a number of factors, including Altera’s ability to fund share repurchases and generate positive cash flow and limitations that may affect Altera’s ability to borrow under the credit facility as well as changes in economic conditions and other risk factors discussed in documents filed by the company with the Securities and Exchange Commission from time to time. Copies of Altera's SEC filings are posted on the company's web site and are available from the company without charge. Forward-looking statements are made as of the date of this release, and, except as required by law, the company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.

About Altera

Altera’s programmable solutions enable system and semiconductor companies to rapidly and cost-effectively innovate, differentiate and win in their markets. Find out more at www.altera.com.

Altera, The Programmable Solutions Company, the stylized Altera logo, specific device designations and all other words that are identified as trademarks and/or service marks are, unless noted otherwise, the trademarks and service marks of Altera Corporation in the U.S. and other countries. All other product or service names are the property of their respective holder.

Contacts:

Altera Corporation
Scott Wylie, 408-544-6996
Vice President – Investor Relations
swylie@altera.com
Anna Del Rosario, 408-544-6397
Director – Corporate Communications
newsroom@altera.com