Exhibit 99.1
HOLD FOR
CALL
Contact:
Doug Farrell
Vice President of
Investor Relations
408-731-5285
AFFYMETRIX ANNOUNCES
PROPOSED $250 MILLION OFFERING OF SENIOR
CONVERTIBLE NOTES DUE 2038
Santa Clara,
Calif. — November 13 , 2007 — Affymetrix
Inc., (Nasdaq: AFFX) today announced that it intends to offer,
subject to market and other considerations, $250 million aggregate
principal amount of unsecured Senior Convertible Notes due 2038
under an automatically effective shelf registration statement on
file with the Securities and Exchange Commission. Affymetrix also
expects to grant the underwriter an over-allotment option to
purchase up to $37.5 million aggregate principal amount of
additional notes on the same terms and conditions.
The Company intends to
use the net proceeds from the offering for working capital and
general corporate purposes, which may include funding its
operations, capital expenditures, potential acquisitions of
businesses, product or technologies it believes to be of strategic
importance and repurchases or redemption of all or a portion of its
0.75% Senior Convertible Notes due 2033.
J.P. Morgan Securities
Inc. is acting as the sole book-running manager of the
offering.
The interest
rate
