Chip Express Names Doug Bailey Vice President of Marketing.

Business Editors/High-Tech Writers

SANTA CLARA, Calif.--(BUSINESS WIRE)--April 6, 2001

Chip Express today announced that Douglas Bailey has been named as the company's Vice President of Marketing. After a comprehensive search, Bailey was selected for the high-profile position based on his diverse background that includes key roles in marketing, sales, and engineering.

In his position as Vice President of Marketing for Chip Express, Bailey will be responsible for new product definition, product management and marketing communications functions for the U.S.-based corporation and for Chip Express' overseas subsidiary in Israel. He will report to Stephen McMinn, Chip Express' President and CEO.

"Doug's background and experience are ideally suited for taking Chip Express to the next level of success," said McMinn. "With his demonstrated marketing success in the communications, networking, and computer peripherals industries, Doug was the right choice to round out our Executive Team."

Before joining Chip Express, Bailey served as Business Management and Marketing Consultant for Sapiential Prime, Inc. In this role, he was responsible for new product definition and business situation analysis for several key clients. Prior to this, Bailey was the Director of Sales and Business Unit Manager for 8x8, Inc. (Netergy), where he was responsible for all marketing, sales, product management, and application engineering of video compression and VoIP ICs. His earlier experience includes Application Engineering Management for IIT, Inc., and Design Engineering roles with LSI Logic, Inmos, Ltd., and Marconi. Bailey holds a BEng (Honours) from the University of Birmingham (Birmingham, England) with a concentration in microelectronics and microwave devices.

"Chip Express' rapid return to profitability under Steve McMinn's leadership is an impressive achievement. Our goal now is to expand the business by aggressively targeting hot application spaces, adding appropriate IP and SOC tools, and leveraging the NRE consolidation effect of Chip Express' unique Modular Array technology," said Bailey. "An increasing number of developers are finding that hacking up an FPGA is an expensive and irresponsible way to make a production product, but doing business directly with the major fabs is cost-prohibitive. Chip Express serves the needs of this segment and provides a very cost-effective way to develop products with high design and production quality. I'm thrilled to be on board."

Chip Express Corporation is the leading manufacturer of fast-turn ASICs (Application Specific Integrated Circuits), delivering first products to customers just three days after receiving their design database. The company's innovative, patented technology also enables consolidation of tooling associated with wafer manufacture, reducing both time-to-market and initial production cost by a factor of ten over that available using competitive techniques. Headquartered in Santa Clara, Calif., Chip Express is a privately held corporation, founded in the U.S. in 1989.

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 Corp. assumes no obligation to revise or update any forward-looking statements contained in this press release.

Note to Editors: Photograph available upon request.