Alchemy Semiconductor Names AT&T Executive to Top Board Slot

President of AT&T Labs Internet Technology and Development Brings Proven Leadership as Alchemy Targets Internet Edge Devices

AUSTIN, TX -- 5/22/2000 -- Alchemy Semiconductor, Inc., an Austin-based fabless semiconductor company targeting the Internet Edge DeviceÔ market, today announced the appointment of Shane Robison to the post of Chairman of the company's Board of Directors.

Robison is President, Internet Technology and Development, AT&T Labs (NYSE:T) in California, where he is responsible for the architecture, planning and development of AT&T's Internet services, ranging from basic infrastructure for the Internet, to commercial products. Robison is based in Menlo Park, CA and maintains offices on the East Coast.

"Alchemy is targeting the wireline and wireless devices at the edge of the Internet," said Eric Broockman, President and CEO, Alchemy Semiconductor. "Shane Robison will bring us the crucial market perspective of AT&T Labs, and their insights in next-generation Internet applications such as universal messaging, wireless access, and e-commerce security. We expect to capitalize on Shane's leadership and design experience to successfully bring our microprocessors to the marketplace."

Alchemy Semiconductor officially announced its launch as an independent company on May 1, after receiving $15 million in venture capital funding. The company gained attention for its focus on high performance, yet very low power systems-on-a-chip (SOCs) based on the 32-bit MIPS architecture (NASDAQ: MIPS) for the Internet Edge Device™ marketplace. Alchemy Semiconductor's founding team includes prominent embedded microprocessor architects including former DEC Alpha / StrongARM design team members.

"The next 12 to 24 months are going to be exciting for Alchemy," said Robison. "There will be a new product announcement in June at the Embedded Processor Forum in San Jose, and then a continued momentum as we work towards product production. I can't think of a better time to be part of a company's leadership than at the outset of major milestones, including customer and partnership announcements."

Prior to joining AT&T Labs, Robison was President of the Design Productivity Group at Cadence Design Systems in San Jose responsible for worldwide research/development, product marketing, software tools and consulting services for all electronic products. He also served as Apple Computer's Vice President & General Manager of Personal Interactive Electronics Division where he had oversight responsibilities for both personal device computing operations and the PowerPC.

Robison joins a seasoned board of directors at Alchemy, with Winston S. Fu, US Venture Partners; Jim Clardy, Venture Partner, Austin Ventures; Eric Broockman, President and CEO of Alchemy, and Greg Hoeppner, Alchemy's VP of Engineering.

About Alchemy Semiconductor
Founded in Austin, Texas, in 1999, Alchemy Semiconductor is a fabless semiconductor company that designs, develops and markets high performance, yet very low power systems-on-a-chip (SOCs) for the Internet Edge Device market. The company's founding team includes several of the most prominent embedded microprocessor architects and developers in the world, allowing for a combination of proven design execution and MIPS performance technology to achieve high performance, low power dissipation and system integration in its Internet Edge Processor. Alchemy's headquarters are at 7800 Shoal Creek Blvd., Suite 222W, Austin, Texas 78757; or go to www.alchemysemi.com.