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International Rectifier and Efficient Power Conversion Corporation Reach Settlement and Royalty Agreement



  International Rectifier and Efficient Power Conversion Corporation Reach
  Settlement and Royalty Agreement

                 Agreement Ends Litigation Between Companies

Business Wire

EL SEGUNDO, Calif. -- June 25, 2013

International Rectifier Corporation (“IR”) (NYSE:IRF) today announced that it
has entered into a settlement agreement with Efficient Power Conversion
Corporation (“EPCC”) that will result in the payment of royalties to IR on the
sale of Gallium Nitride (GaN) on Silicon based power devices from 2015-2023,
subject to an offset in certain cases.

The settlement agreement resolves all disputes between EPCC and certain of
EPCC’s principals, including Alex Lidow, and IR without judicial determination
of the merits of any party’s claims or defenses. Other terms of the agreement
are confidential.

IR brought suit against EPCC, Alex Lidow and others in 2009 for
misappropriation of trade secrets associated with its GaN on Silicon
program. Alex Lidow had also sued IR for wrongful termination as the company’s
CEO. When the settlement occurred, the matter was awaiting trial in the Los
Angeles Superior Court.

“We believe this resolution is positive for IR and will allow the company to
put this dispute behind us,” stated IR’s President and Chief Executive
Officer, Oleg Khaykin. “We will continue to direct our attention and resources
to the commercialization of our GaN on Silicon technology platform as well as
continuing to innovate and improving our leading competitive position in GaN
on Silicon based power devices.”

About International Rectifier

International Rectifier Corporation (NYSE:IRF) is a world leader in power
management technology. IR’s analog, digital, and mixed signal ICs, and other
advanced power management products, enable high performance computing and save
energy in a wide variety of business and consumer applications. Leading
manufacturers of computers, energy efficient appliances, lighting,
automobiles, satellites, aircraft, and defense systems rely on IR’s power
management solutions to power their next generation products. For more
information, go to www.irf.com.

Note: Statements made or implied in this release that are in the future tense
or that are accompanied by words such as “will,” or variations of such words
are “forward-looking” and involve risks and uncertainties that are not within
International Rectifier's control. A fuller explanation of these risks and
uncertainties is contained in International Rectifier’s periodic and other
filings from time to time with the Securities and Exchange Commission.

Contact:

International Rectifier Corporation
Media
Sian Cummins, 310-252-7148
or
Investors
Chris Toth, 310-252-7731
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