Hong Kong, December 28, 2005 — Paul, Hastings, Janofsky & Walker LLP …

Hong Kong, December 28, 2005 — Paul, Hastings, Janofsky & Walker LLP (Paul
Hastings) has advised Pixelplus Co. Ltd., a Korean fabless semiconductor company,
in relation to its US$36 million initial public offering of American depository shares on
Nasdaq. The offering was completed on December 27, 2005.

Pixelplus, a company that was not previously listed on any stock exchange, designs
and develops complementary metal oxide semiconductor (CMOS) image sensors for
use primarily in mobile camera phones. It is raising capital to, among others things,
expand its sales, distribution and technical support network and develop its research
and development capabilities.

Paul Hastings’ team of US-qualified Korean lawyers led by partner Jong Han Kim,
with Daniel Kim, Young Suh and Joseph Suh, advised Pixelplus on the transaction.
Jong Han Kim, partner and head of the Paul Hastings’ Korea practice, commented:
“We are very pleased to represent a Korean company of Pixelplus’ calibre in one of
the rare direct U.S. listings on Nasdaq by a Korean private company. Paul Hastings’
Korean team has represented a number of major Korean companies in their
international capital markets activities over the last few years, including a U.S. listing
for Webzen and international listings for KCC and INI Steel, as well as cross-border
joint ventures for major Korean companies such as SK Telecom and Samsung Life.
This latest deal highlights our firm’s growing expertise in handling international
capital markets transactions for Korean companies.”

Pixelplus’ offering brings the total amount raised in IPO’s completed by Paul
Hastings for Asian companies to US$2.3 billion for 2005, in a total of sixteen

Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a global law firm with
nearly 1,000 lawyers located in 17 offices in Asia, Europe and the United States.
Paul Hastings has one of Asia’s largest international legal practices, with a team of
over 130 lawyers located in Hong Kong, Beijing, Shanghai and Tokyo. The firm has
won a number of awards for recent innovative transactions across the region,
including Korea. The Webzen IPO won best mid cap IPO for 2004 by Asiamoney

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