About Tundra

TSX Approves Tundra’s New Normal Course Issuer Bid

Ottawa, Ontario – April 7, 2008 - Tundra Semiconductor Corporation (TSX:TUN), the leader in System Interconnect, announced today that the Toronto Stock Exchange (TSX) has accepted the Company’s notice of intention to make a normal course issuer bid. The Tundra Board of Directors has approved Tundra’s purchase of up to 983,530 common shares (representing approximately 5% of the 19,670,613 outstanding Tundra common shares as of March 31, 2008). The normal course issuer bid will commence on April 9, 2008 and will terminate on April 8, 2009 or on such earlier date as Tundra has purchased the maximum number of shares permitted under the bid.

Tundra expects to use cash, short term investments and future operating cash flows to fund the repurchase of shares. Purchases under the bid will be made on the open market by Tundra through the facilities of the TSX at the prevailing market price at the time of the transaction. Purchases under the bid may be made at any time during the twelve month period subject to the rules and regulations of the TSX. All shares acquired by Tundra under the bid will be cancelled. Tundra previously entered into a normal course issuer bid which commenced on March 27th, 2007 and terminated March 28th, 2008.  Tundra purchased 416,200 common shares under its previous bid for an aggregate purchase price of $2,607,576.  The average daily trading volume of the common shares of Tundra for the six months ended 13,365 common shares, subject to the block purchase exception.  

Management and the Board of Directors of Tundra believe that the market price of Tundra’s common shares, from time to time, may not reflect the inherent value of the Corporation. The new share repurchase program reflects the Company’s continued confidence in the fundamentals of Tundra’s business and opportunity.

“Tundra continues to primarily focus investment on the execution of its short and long term plans to drive organic growth.  In addition Management and the Board believe that strategic acquisitions and timely purchases of Tundra’s shares continue to represent an effective use of the Company’s financial resources,” said Daniel Hoste, President and Chief Executive Officer of Tundra.

About Tundra
Tundra Semiconductor Corporation (TSX:TUN) supplies the world’s leading communications, computing and storage companies with System Interconnect products, intellectual property (IP) and design services backed by world-class customer service and technical support. Tundra’s track record of product leadership includes over a decade of bridges and switches enabling key industry standards:  RapidIO®, PCI, PCI-X, PCI Express®, Power Architecture™, VME, HyperTransport™, Interlaken, and SPI4.2.  Tundra’s products deliver high functional quality and simplified board design and layout, with specific focus on system level signal integrity.  Tundra's design services division, Silicon Logic Engineering, Inc., offers industry-leading ASIC and FPGA design services, semiconductor intellectual property and product development consulting. Tundra’s technology connects critical components in high performance embedded systems around the world.  For more information, please visit www.tundra.com.

Forward Looking Information
Tundra cautions that forward-looking information in this release is based on certain assumptions and expectations made by Tundra that may prove to be inaccurate. Assumptions made include anticipated market trading prices, general economic and geopolitical factors, customer demand for Tundra’s products and services, Tundra’s ability to maintain and enhance existing customer relationships, as well as Tundra’s ability to bring to market the products currently under development.

Furthermore, Tundra cautions that forward-looking statements in this release are based on current assumptions and expectations that are subject to risks and uncertainties. Actual results may differ due to factors such as market risks and trading prices, customer demand, customer relationships, new product development, new services offerings, product shipping schedules, product mix, competitive products and services, pricing pressure, and changes in the embedded systems market specifically. The Company assumes no obligation to update or revise any forward-looking statements. Additional information identifying risks and uncertainties is contained in the Company's filings with the various provincial securities commissions which are available online at www.sedar.com.

TUNDRA and the Tundra logo are registered marks of Tundra Semiconductor Corporation in Canada, the United States, the European Union and the People's Republic of China.  Design.Connect.Go. is a trademark of Tundra Semiconductor Corporation. Other registered and unregistered trademarks are the property of their respective owners.

© Copyright 2008 Tundra Semiconductor Corporation.  All rights reserved.  Information subject to change without notice.

For more information contact:

David Long
Chief Financial Officer
Tel: +1.613.592.0714
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