ChipMOS REPORTS FOURTH QUARTER AND FULL YEAR 2012 RESULTS

          ChipMOS REPORTS FOURTH QUARTER AND FULL YEAR 2012 RESULTS

PR Newswire

HSINCHU, Taiwan, March 18, 2013

HSINCHU, Taiwan, March 18, 2013 /PRNewswire-FirstCall/ -- 

Full Year 2012 Highlights (as compared to the Full Year 2011):

  oNet Revenue Increased 5.5% to US$661.6 Million from US$626.9 Million
  oGross Profit Increased to US$89.7 Million from US$55.0 Million
  oGross Margin Improved to 13.6% from 8.8%
  oNet Earnings on a US GAAP Consolidated Basis was US$0.94 Per Basic and
    US$0.91 Per Diluted Share Compared to US$0.06 Per Basic and Diluted Share
  oGenerated US$99.0 Million of Free Cash Flow in 2012
  oBalance of Cash and Cash Equivalents Increased to US$320.8 Million from
    US$253.3 Million
  oReduced Net Debt By US$13.1 Million in 2012
  oRepurchased US$10.4 Million or 701 Thousand Shares in 2012
  oDeclared and Paid First Annual Dividend of US$0.14 Per Share

ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq:
IMOS) today reported unaudited consolidated financial results for the fourth
quarter and full year ended December 31, 2012. All U.S. dollar figures in this
release are based on the exchange rate of NT$29.05 against US$1.00 as of
December 31, 2012.

Net revenue on a US GAAP basis for the fourth quarter of 2012 was NT$4,867.4
million or US$167.6 million, an increase of 5.6% from NT$4,608.8 million or
US$158.7 million for the same period in 2011 and a decrease of 5.3% from
NT$5,139.9 million or US$176.9 million in the third quarter of 2012.

Net income on a US GAAP basis for the fourth quarter of 2012 was NT$253.3
million or US$8.7 million, and NT$8.97 or US$0.31 per basic common share and
NT$8.74 or US$0.30 per diluted common share, as compared to net income for the
fourth quarter of 2011 of NT$29.1 million or US$1.0 million, and NT$1.08 or
US$0.04 per basic common share and NT$1.07 or US$0.04 per diluted common
share.

Under US GAAP, net revenue for the fiscal year ended December 31, 2012 was
NT$19,220.5 million or US$661.6 million, an increase of 5.5% from NT$18,210.9
million or US$626.9 million for the fiscal year ended December 31, 2011. Under
US GAAP, net income for the fiscal year ended December 31, 2012 was NT$750.6
million or US$25.8 million, and NT$27.32 or US$0.94 per basic and NT$26.52 or
US$0.91 per diluted common share, compared to net income for the fiscal year
ended December 31, 2011 was NT$46.1 million or US$1.6 million, and NT$1.73 or
US$0.06 per basic and NT$1.71 or US$0.06 per diluted common share.

The unaudited consolidated financial results of ChipMOS for the year ended
December 31, 2012 included the financial results of ChipMOS TECHNOLOGIES INC.,
ChipMOS U.S.A., Inc., MODERN MIND TECHNOLOGY LIMITED and its wholly-owned
subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD., and ThaiLin Semiconductor
Corp.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We
accomplished a great amount in 2012, as we continued to drive the fundamental
business improvements and capacity enhancements needed to secure our long-term
success. We further executed on higher margin opportunities, including our
leading position in the LCD driver assembly and test market, and growing share
with the leading niche DRAM companies. At the same time, we maintained a
disciplined CapEx approach. As a result, we expanded our full year 2012 net
income by 16.3x after non-controlling interests as compared to 2011, and
further strengthened our balance sheet. We ended 2012 with US$320.8 million in
cash and cash equivalents, and improved our net debt to equity ratio to 0.1%
as of December 31, 2012 compared to 22.6% at the end of 2011."

S.K. Chen, Chief Financial Officer of ChipMOS, said, "Gross profit for the
full year 2012 increased to US$89.7 million compared to US$55.0 million in
2011 resulting an expansion of our 2012 earnings, on the diluted common share
basis, to US$0.91 per share from US$0.06 per share in 2011. For the full year
2012, our blended utilization rate was 76% compared to 75% in 2011. The
improvement reflects the considerable growth in our LCD driver segment, which
was up 9.3% for the full year 2012 compared to 2011, representing 23% of total
revenue in 2012 compared to 22% in 2011. We continue to succeed by supporting
and mutually growing with leaders in the LCD segment. We are also pleased with
revenue growth in our bumping segment, which was up 25% for the full year 2012
compared to 2011, and represented 15% of total revenue compared to 13% in
2011. In addition to executing on our business strategy and financial
management, we continue to pursue longer-term efforts to increase value for
shareholders. For example, in 2012 we repurchased US$10.4 million or 701
thousand shares of ChipMOS common stock. We also paid our first annual
dividend on December 18, 2012 of US$0.14 per share for a total cash cost of
US$4.0 million. Finally, we continue to work with the local Taiwan Emerging
Market regarding the potential Taiwan listing of our subsidiary, ChipMOS
Taiwan, in Taiwan. We continue to view this as an excellent opportunity to
better realize the inherent value of our company based on valuations of
similar companies in our sector. This has been a long process that we expect
to complete over the coming quarter. We have engaged an underwriter and are
working to finalize the process in order to achieve an initial listing of
shares on the Taiwan Emerging Market Exchange in 2Q13."

Selected Operation Data
                            4Q12             4Q11             FY12
Revenue by segment
 Testing                  29%              31%              29%
 Assembly                 31%              36%              33%
 LCD Driver               24%              21%              23%
 Bumping                  16%              12%              15%
Utilization by segment
 Testing                  68%              62%              69%
 Assembly                 69%              80%              78%
 LCD Driver               81%              73%              79%
Bumping                     81%              75%              81%
 Overall                  74%              72%              76%
CapEx                       US$20.3 million US$15.1 million  US$95.6
                                                              million
 Testing                  23%              32%              18%
 Assembly                 15%              10%              15%
 LCD Driver               21%              47%              35%
Bumping                     41%              11%              32%
Depreciation and
amortization expenses (US   US$32.0 million US$48.7 million US$159.7 million
GAAP)

                                                      Year ended   Year ended
Condensed consolidated statements of cash flows       Dec. 31,     Dec. 31,
                                                      2012         2011
                                                      US$ million  US$ million
Net cash provided by (used in) operating activities   163.0        203.0
Net cash provided by (used in) investing activities   (89.3)       (111.9)
Net cash provided by (used in) financing activities   (5.6)        (84.8)
Effect of exchange rate changes on cash               (0.6)        1.1
Netincrease(decrease)incashandcashequivalents  67.5         7.4
Cash and cash equivalents at beginning of period      253.3        245.9
Cash and cash equivalents at end of period            320.8        253.3

Business Outlook

The Company expects revenue for 1Q13 to be lower by approximately 9% to 13%,
as compared to 4Q12, reflecting typical seasonality in the industry related to
Chinese New Year and normal customer demand patterns. The Company expects to
slightly offset this typical softness with continued growth in its LCD driver
and mixed-signal business. The Company expects 1Q13 gross margin on a
consolidated basis to be in the range of approximately 10% to 14%. The Company
anticipates depreciation and amortization expenses for 1Q13 to be
approximately US$32 million. Operating expenses are expected to be
approximately 6% to 7% of revenues in 1Q13. The Company projects CapEx
spending to be approximately US$24 million in 1Q13, with CapEx spending for
the full year 2013 to be approximately US$100.0 million compared to US$95.6
million for the full year 2012. ChipMOS achieved a net cash positive balance
in January 2013 and expects to end 1Q13 with a net cash positive balance.
Common shares at the end of 1Q13 are expected to be approximately 28.9
million.

Mr. Cheng continued, "We currently expect that 1Q13 revenue will be the bottom
for the year, followed by sequential growth in each quarter of 2013 and
revenue for the full year 2013 coming in higher than the full year 2012. We
have high confidence in our outlook for the full year 2013 given several
positive catalysts specific to our business, and the expected improvement in
the broader DRAM, NAND flash and Mobil RAM market pricing. We are proud to
have achieved a net cash positive balance in January 2013. This is the first
time in the Company's history and we expect to end 1Q13 with a net cash
balance. ChipMOS is in an excellent market leadership and financial position
allowing us to capture new growth opportunities. We continue to see higher
demand related to smartphones, tablet PC and mobile applications. In order to
meet higher customer demand levels in our LCD driver business, including
bumping services, under our 2013 CapEx plan, our Board has approved a
strategic investment to build an additional manufacturing facility with 8,000
wafers per month of 12-inch gold bump capacity. This would be in addition to
our existing loading capacity of 16,000 wafers per month. We also plan to add
assembly capacity for MEMS (Micro Electro Mechanical Systems), flip chip and
WLCSP (Wafer Level Chip Scale Package) packaging, as well as certain LCD
testing capacity. We are targeting to start bringing the additional capacity
online by Q4 of 2013. Overall, with our strong customer portfolio and product
mix, we have firmly established ChipMOS as one of the industry's most
important outsourced semiconductor assembly and testing services companies. We
continue to focus on building on our position in key markets, including our
LCD driver assembly and test business, improving our financial strength and
increasing shareholder value."

Investor Conference Call / Webcast Details

ChipMOS will review detailed fourth quarter and full year 2012 results on
Monday, March 18, 2013 at 8:00AM ET (8:00PM, March 18, Taiwan time). The
conference call-in number is +1-201-689-8562. A live webcast of the conference
call will be available at ChipMOS' website at http://www.chipmos.com. The
playback is scheduled to be available in 2 hours after the conclusion of the
conference call and will be accessible by dialing +1-858-384-5517, with
confirmation ID number 408537.

About ChipMOS TECHNOLOGIES (Bermuda) LTD.:

ChipMOS (http://www.chipmos.com) is a leading independent provider of
semiconductor testing and assembly services to customers in Taiwan, Japan, and
the U.S. With advanced facilities in Hsinchu and Southern Taiwan Science Parks
in Taiwan and Shanghai, ChipMOS and its subsidiaries provide testing and
assembly services to a broad range of customers, including leading fabless
semiconductor companies, integrated device manufacturers and independent
semiconductor foundries.

Forward-Looking Statements

Certain statements contained in this announcement may be viewed as
"forward-looking statements" within the meaning of Section 27A of the U.S.
Securities Act of 1933, as amended, and Section 21E of the U.S. Securities
Exchange Act of 1934, as amended. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors, which may cause the
actual performance, financial condition or results of operations of the
Company to be materially different from any future performance, financial
condition or results of operations implied by such forward-looking statements.
Further information regarding these risks, uncertainties and other factors is
included in the Company's most recent Annual Report on Form 20-F filed with
the U.S. Securities and Exchange Commission (the "SEC") and in the Company's
other filings with the SEC.

- FINANCIAL TABLES FOLLOW BELOW -



ChipMOS TECHNOLOGIES (Bermuda) LTD.
UNAUDITED CONSOLIDATED INCOME STATEMENT
For the Three Months and the Year Ended December 31, 2012, 2011
Figures in Million of U.S. dollars (USD) ^ (1)
Except for Per Share Amounts and Shares Outstanding
                                        ROC GAAP                                                    US GAAP
                                        3monthsended                Yearended                    3monthsended  Yearended
                                        Dec.31,2012  Dec.31,2011  Dec.31,2012  Dec.31,2011  Dec.31,2012   Dec.31,2012
                                        USD            USD            USD            USD            USD             USD
Net Revenue                             167.6          158.7          661.6          626.9          167.6           661.6
CostofRevenue                         142.1          144.2          572.8          569.7          141.5           571.9
GrossProfit(Loss)                     25.5           14.5           88.8           57.2           26.1            89.7
OtherOperatingIncome                  -              -              -              -              0.8             4.2
OperatingExpenses
ResearchandDevelopment                4.3            3.7            17.0           14.1           4.3             17.0
Sales and Marketing                     0.7            0.6            2.7            2.3            0.7             2.7
General and Administrative              5.5            5.9            21.5           22.4           4.9             20.0
Other Operating Expenses                -              -              -              -              0.9             4.2
Total Operating Expenses                10.5           10.2           41.2           38.8           10.8            43.9
Income(Loss)fromOperations           15.0           4.3            47.6           18.4           16.1            50.0
Non-OperatingIncome(Expenses),Net    (5.7)          (8.7)          (16.0)         (15.7)         (5.6)           (15.9)
Income (Loss) before Income Tax         9.3            (4.4)          31.6           2.7            10.5            34.1
Income Tax Benefit (Expense)            (0.5)          1.5            (4.5)          (1.6)          (0.7)           (4.8)
Net Income (Loss)                       8.8            (2.9)          27.1           1.1            9.8             29.3
Add:NetLoss(Income)Attributableto
                                        (0.7)          1.5            (2.3)          (1.6)          (1.1)           (3.5)
 Noncontrolling Interests
Net Income (Loss) Attributable to
                                        8.1            (1.4)          24.8           (0.5)          8.7             25.8
 ChipMOS
Earnings(Loss)PerShareAttributable
                                        0.29           (0.05)         0.90           (0.02)         0.31            0.94
 to ChipMOS-Basic
Shares Outstanding (in thousands)-
                                        28,236         26,920         27,477         26,590         28,236          27,477
 Basic
Net Income (Loss) Attributable to
                                        8.1            (1.4)          24.8           (0.5)          8.7             25.8
 ChipMOS-Diluted
Earnings (Loss) PerShareAttributable
                                        0.28           (0.05)         0.88           (0.02)         0.30            0.91
 to ChipMOS-Diluted
Shares Outstanding (in thousands)-
                                        28,977         26,920         28,305         26,590         28,977          28,305
 Diluted
Note:

(1) All U.S. dollar figures in this release are based on the exchange rate of NT$29.05 against US$1.00 as of Dec. 31, 2012.

The convenience translation should not be construed as representations that the NT dollar amounts have been, or

 could be in the future be, converted into US dollars at this or any other exchange rate.



ChipMOS TECHNOLOGIES (Bermuda) LTD.
UNAUDITED CONSOLIDATED INCOME STATEMENT
For the Three Months and the Year Ended December 31, 2012, 2011
Figures in Million of NT dollars (NTD)
Except for Per Share Amounts and Shares Outstanding
                                         ROC GAAP                                          US GAAP
                                         3monthsended                Year ended          3monthsended  Yearended
                                         Dec.31,2012  Dec.31,2011  Dec. 31,  Dec. 31,  Dec. 31, 2012   Dec.31,2012
                                                                       2012      2011
                                         NTD            NTD            NTD       NTD       NTD             NTD
Net Revenue                              4,867.4        4,608.8        19,220.5  18,210.9  4,867.4         19,220.5
CostofRevenue                          4,126.6        4,189.5        16,638.5  16,549.2  4,109.5         16,613.1
GrossProfit(Loss)                      740.8          419.3          2,582.0   1,661.7   757.9           2,607.4
OtherOperatingIncome                   -              -              -         -         22.4            120.6
Operating Expenses
ResearchandDevelopment                 122.8          106.1          492.8     409.8     122.8           492.8
Sales and Marketing                      21.1           18.1           78.4      66.5      21.1            78.4
General and Administrative               160.4          171.2          625.6     651.9     142.5           582.8
Other Operating Expenses                 -              -              -         -         24.9            122.0
Total Operating Expenses                 304.3          295.4          1,196.8   1,128.2   311.3           1,276.0
Income(Loss)fromOperations            436.5          123.9          1,385.2   533.5     469.0           1,452.0
Non-operatingIncome(Expenses),Net    (164.4)        (253.0)        (464.4)   (455.8)   (162.3)         (461.1)
Income(Loss)before IncomeTax          272.1          (129.1)        920.8     77.7      306.7           990.9
Income Tax Benefit (Expense)             (15.9)         43.4           (131.5)   (45.5)    (20.8)          (140.5)
Net Income (Loss)                        256.2          (85.7)         789.3     32.2      285.9           850.4
Add:NetLoss(Income)Attributableto
                                         (21.5)         45.8           (67.5)    (47.4)    (32.6)          (99.8)
 Noncontrolling Interests
Net Income (Loss) Attributable to
                                         234.7          (39.9)         721.8     (15.2)    253.3           750.6
 ChipMOS
Earnings (Loss) Per Share Attributable
                                         8.31           (1.48)         26.27     (0.57)    8.97            27.32
to ChipMOS-Basic
Shares Outstanding (in thousands)-
                                         28,236         26,920         27,477    26,590    28,236          27,477
 Basic
Net Income (Loss) Attributable to
                                         234.7          (39.9)         721.8     (15.2)    253.3           750.6
 ChipMOS -Diluted
Earnings (Loss) Per Share Attributable
                                         8.10           (1.48)         25.50     (0.57)    8.74            26.52
 to ChipMOS-Diluted
Shares Outstanding (in thousands)-
                                         28,977         26,920         28,305    26,590    28,977          28,305
 Diluted



ChipMOS TECHNOLOGIES (Bermuda) LTD.
UNAUDITED CONSOLIDATED BALANCE SHEET
As of Dec. 31, Sep. 30, 2012 and Dec. 31, 2011
Figures in Million of U.S. dollars (USD) ^(1)
                                      ROC GAAP                       US GAAP
                                      Dec.    Sep.                   Dec.                   Dec.
                                      31,     30,     Dec.31,2011  31,     Sep.30,2012  31,
                                      2012    2012                   2012                   2011
ASSETS                                USD     USD     USD            USD     USD            USD
CashandCashEquivalents             320.8   259.5   253.3          320.8   259.5          253.3
AccountsandNotesReceivable         137.6   149.2   126.4          137.6   149.2          126.4
Inventories                           58.1    61.6    52.8           58.1    61.6           52.8
Other Current Assets                  18.4    25.5    18.1           18.4    25.5           17.9
Total Current Assets                  534.9   495.8   450.6          534.9   495.8          450.4
Long-Term Investments                 0.4     1.3     1.3            0.4     1.3            1.3
Property,Plant&Equipment-Net       416.8   429.0   478.4          401.1   414.2          464.8
IntangibleAssets                     6.2     3.3     3.5            3.2     3.3            3.5
Other Assets                          31.4    33.3    39.7           33.7    35.7           42.6
Total Assets                          989.7   962.7   973.5          973.3   950.3          962.6
LIABILITIES
Current Liabilities
Short-Term Loans                      12.6    20.2    18.8           12.6    20.2           18.8
CurrentPortionofLong-TermDebts    76.7    75.8    23.5           76.7    75.8           23.5
AccountsPayableandPayablesto
                                      47.3    53.2    53.2           47.3    53.2           53.2
 Contractors and Equipment
Suppliers
Other Current Liabilities             62.2    58.6    66.6           62.2    58.6           66.6
Total Current Liabilities             198.8   207.8   162.1          198.8   207.8          162.1
Long-Term Liabilities
Long-Term Debts                       232.0   217.1   292.1          232.0   217.1          292.1
Long-Term Deferred Revenue            3.2     3.1     3.3            3.2     3.1            3.3
Other Liabilities                     6.0     0.2     0.2            16.5    11.0           13.2
Total Liabilities                     440.0   428.2   457.7          450.5   439.0          470.7
EQUITY
Shareholders' Equity
Capital Stock                         1.3     1.4     1.3            1.3     1.4            1.3
Capital Surplus                       398.8   397.0   523.3          384.9   383.3          510.1
RetainedEarnings(AccumulatedLoss)  18.3    16.7    (130.4)        21.8    19.6           (127.9)
Treasury Stock                        (21.9)  (34.9)  (31.8)         (21.9)  (34.9)         (31.8)
Cumulated Translation Adjustments     14.4    14.4    15.0           14.4    14.4           15.0
Unrecognized Pension Cost             (1.5)   -       -              (12.8)  (8.1)          (8.1)
Total Shareholders' Equity            409.4   394.6   377.4          387.7   375.7          358.6
Noncontrolling Interests             140.3   139.9   138.4          135.1   135.6          133.3
Total Equity                          549.7   534.5   515.8          522.8   511.3          491.9
Total Liabilities & Equity            989.7   962.7   973.5          973.3   950.3          962.6
Note:

(1) All U.S. dollar figures in this release are based on the exchange rate of NT$29.05 against
US$1.00 as of Dec. 31, 2012. The convenience translation should

not be construed as representations that the NT dollar amounts have been, or could be in the
future be, converted into US dollars at this or any other

 exchange rate.



ChipMOS TECHNOLOGIES (Bermuda) LTD.
UNAUDITED CONSOLIDATED BALANCE SHEET
As of Dec. 31, Sep. 30, 2012 and Dec. 31, 2011
Figures in Million of NT dollars (NTD)
                                      ROC GAAP                            US GAAP
                                      Dec. 31,  Sep. 30,   Dec.31,2011  Dec. 31,  Sep.30,2012  Dec. 31,
                                      2012      2012                      2012                     2011
ASSETS                                NTD       NTD        NTD            NTD       NTD            NTD
Cash and Cash Equivalents             9,319.0   7,537.3    7,357.9        9,319.0   7,537.3        7,357.9
Accounts and Notes Receivable         3,997.2   4,333.5    3,672.2        3,997.2   4,333.5        3,672.2
Inventories                           1,687.9   1,788.5    1,533.9        1,688.8   1,789.2        1,534.9
Other Current Assets                  534.0     741.9      527.2          534.0     741.9          521.0
TotalCurrentAssets                  15,538.1  14,401.2   13,091.2       15,539.0  14,401.9       13,086.0
Long-TermInvestments                 11.6      39.1       39.1           11.6      39.1           39.1
Property,Plant&Equipment-Net       12,108.0  12,463.8   13,896.1       11,652.9  12,032.7       13,501.0
Intangible Assets                     178.9     94.8       100.5          94.3      94.8           100.5
Other Assets                          912.8     967.1      1,154.2        977.7     1,037.0        1,237.6
Total Assets                          28,749.4  27,966.0   28,281.1       28,275.5  27,605.5       27,964.2
LIABILITIES
Current Liabilities
Short-Term Loans                      366.5     585.9      546.9          366.5     585.9          546.9
CurrentPortionofLong-TermDebts    2,227.8   2,202.8    684.0          2,227.8   2,202.8        684.0
AccountsPayableandPayablesto
                                      1,374.7   1,545.3    1,546.2        1,374.7   1,545.3        1,546.2
ContractorsandEquipment
 Suppliers
Other Current Liabilities             1,806.6   1,702.4    1,935.1        1,806.6   1,702.4        1,935.1
Total Current Liabilities             5,775.6   6,036.4    4,712.2        5,775.6   6,036.4        4,712.2
Long-Term Liabilities
Long-Term Debts                       6,739.9   6,305.0    8,484.3        6,739.9   6,305.0        8,484.3
Long-Term Deferred Revenue            89.4      89.9       95.3           89.4      89.9           95.3
Other Liabilities                     175.4     6.5        6.0            480.3     319.6          383.5
Total Liabilities                     12,780.3  12,437.8   13,297.8       13,085.2  12,750.9       13,675.3
EQUITY
Shareholders' Equity
Capital Stock                         39.0      39.7       39.0           39.0      39.7           39.0
Capital Surplus                       11,583.9  11,533.6   15,201.4       11,181.5  11,139.1       14,817.4
RetainedEarnings(AccumulatedLoss)  531.8     485.4      (3,787.4)      633.8     568.8          (3,714.2)
Treasury Stock                        (635.7)   (1,012.7)  (924.8)        (635.7)   (1,012.7)      (924.8)
Cumulated Translation Adjustments     416.9     417.0      433.9          416.9     417.0          433.9
Unrecognized Pension Cost             (42.7)    -          -              (372.8)   (235.6)        (235.6)
Total Shareholders' Equity            11,893.2  11,463.0   10,962.1       11,262.7  10,916.3       10,415.7
Noncontrolling Interests             4,075.9   4,065.2    4,021.2        3,927.6   3,938.3        3,873.2
Total Equity                          15,969.1  15,528.2   14,983.3       15,190.3  14,854.6       14,288.9
Total Liabilities & Equity            28,749.4  27,966.0   28,281.1       28,275.5  27,605.5       27,964.2



Contacts:

In Taiwan                           In the U.S.
Dr. S.K. Chen                       David Pasquale
ChipMOS TECHNOLOGIES (Bermuda) LTD. Global IR Partners
+886-6-507-7712                     +1-914-337-8801
s.k._chen@chipmos.com               dpasquale@globalirpartners.com

SOURCE ChipMOS TECHNOLOGIES (Bermuda) LTD.

Website: http://www.chipmos.com
 
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