Arlington, Va., July 21, 2005 - In response to today's announcement by China that it will no longer peg its currency, the yuan, to the U.S. dollar, Dave McCurdy, president and CEO of the Electronic Industries Alliance (EIA), issued the following statement:

In its May 2004 comprehensive policy playbook of proposals for strengthening the innovation economy for the high-tech sector, EIA recommended that China tie the yuan to a broader basket of currencies. The playbook, The Technology Industry at an Innovation Crossroads, is available online at www.eia.org/docs/innovation_playbook.pdf.

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About EIA: The Electronic Industries Alliance (EIA) is the leading advocate in Washington, D.C., for the U.S. high-tech industry. The Alliance, which traces its origins to the Radio Manufacturers Association (chartered in 1924), is a partnership of electronic and high-tech associations and companies whose mission is to promote the market development and competitiveness of the $400 billion U.S. high-tech and electronics industries through domestic and international policy efforts. EIA's corporate members - nearly 1,300 - provide products and services ranging from microscopic electronic components to state-of-the-art defense, space and industry high-tech systems, as well as the full range of telecommunications and consumer electronics products. Headquartered in Arlington, Va., the Alliance is made up of the Electronic Components, Assemblies & Materials Association (ECA); the Government Electronics & Information Technology Association (GEIA); JEDEC; the Telecommunications Industry Association (TIA); and leading consumer electronics companies who participate in EIA's Environmental Issues Council. EIA is also heavily involved in cyber security issues through the Internet Security Alliance (ISAlliance), and education issues, through the National Science & Technology Education Partnership (NSTEP).