Chip Express Names Amnon Fisher President and Chief Executive Officer; Structured ASIC Leader Selects Former Genesis Microchip CEO to Build on Company's Momentum.

Business Editors/High-Tech Writers

SANTA CLARA, Calif.--(BUSINESS WIRE)--Dec. 10, 2003

Chip Express Corporation announced today that industry veteran Amnon Fisher has been named President and Chief Executive Officer. Fisher replaces Steve McMinn, who has stepped down from the same position, which he held since March 2000. Fisher has more than 25 years of engineering and executive management experience in the semiconductor industry.

"Chip Express established a strong position in the Structured ASICs market under Steve McMinn's guidance. The company must leverage that success as it enters a new growth phase," said Chip Express Board Chairman Uzia Galil. "Amnon's experience with maturing companies will drive Chip Express's continued success in this critical period."

Previously, Fisher served as President and CEO of Genesis Microchip (Nasdaq:GNSS), guiding the company to a leading position in image processors for consumer and PC-display products. Under his leadership, the company's market share grew from 28 percent and $50 million in annual revenue in year 2000 to 70 percent and more than $200 million in revenue in 2003. During the last year, Fisher was an Entrepreneur In Residence with VantagePoint Venture Partners.

"Because Structured ASICs drastically reduce ASIC cost of ownership and development time, the devices have opened up exciting new opportunity for chip designers across the electronics industry," said Fisher. "As a leader in this important market, Chip Express is poised to enjoy fast growth. I'm excited to be on board at this pivotal point."

Fisher served as General Manager and Vice President of the Consumer Products Divisions at NeoMagic and at LSI Logic, where he was responsible for a $400 million business servicing set-top-box, digital TV, and digital camera products. He was also Vice President and General Manager of LSI Logic's Computer Products Division, where he managed the company's core-based "system-on-a-chip" business. Fisher also held engineering management and engineering positions at Fujitsu MicroElectronics and Digital Equipment Corporation. He began his career at National Semiconductor in 1978.

Fisher holds an MS in Electrical Engineering from City College of New York and a BS in Electrical Engineering from Israel Institute of Technology.

About Chip Express

Chip Express is a leading manufacturer of late-stage programmable application-specific integrated circuits, or Structured ASICs. The company's innovative, patented technology consolidates wafer production tooling, reduces time-to-market and minimizes the cost of initial production. Chip Express's Structured ASIC technology is widely used in automotive telematics, computing peripherals, communications, high-end consumer electronics, industrial control, medical equipment and military/aerospace systems. Headquartered in Santa Clara, Calif., Chip Express is a privately held corporation, founded in the U.S. in 1989. A subsidiary, Chip Express (Israel) Ltd., performs Research & Development.

Chip Express is a privately held company. First-round venture capital financing came from Elron Electronic Industries, Ltd. (Nasdaq:ELRN), a 34% shareholder in the company. Subsequent rounds involved Toyo Ink Mfg. Co., Ltd., Morgan Stanley Venture Partners, Agere Systems, Wasserstein Venture Capital, Newlight Associates, Parker Price Venture Capital, manufacturing partner UMC (NYSE:UMC), and Needham Capital Partners.

This press release contains forward-looking statements based on current information available to Chip Express Corporation as of the date hereof. These statements are based on Management's current expectations and may ultimately prove to be incorrect or false. Factors which could cause future results to differ materially from the results discussed, implied, or forecasted in the forward-looking statements include delays in scheduled product availability dates (which could result from various occurrences including development or testing difficulties, software errors, shortages in appropriately skilled engineers and project management problems); the risks inherent in the commercialization of the Company's anticipated products and services; shifts in customer or market demand for the Company's anticipated products; the impact of competitive products and pricing; and possible disruptive effects of organizational changes, including retaining key personnel and coordinating operations. Chip Express assumes no obligation to revise or update any forward-looking statements contained in this press release.

All other products or service names mentioned herein are the property of their respective owners.