Cirrus Logic Announces CFO's Retirement; Acting CFO in Place; Search is Underway for New CFO.

Business Editors & High-Tech Writers

AUSTIN, Texas--(BUSINESS WIRE)--Oct. 10, 2001

Cirrus Logic Inc. (Nasdaq:CRUS), the premier supplier of high-performance analog and DSP chip solutions for digital entertainment, today announced that Robert W. Fay, its chief financial officer, is retiring from the company effective Friday, Oct. 12.

A search is underway for a new CFO. Steven D. Overly, senior vice president of administration and general counsel will serve as acting CFO in the interim. Craig H. Ensley, vice president of corporate marketing, will continue to lead investor relations.

"Bob has been instrumental in Cirrus Logic's transformation to a digital consumer entertainment company over these past two years. During this period he supervised a dramatic improvement in the Cirrus balance sheet, and he has built a quality financial team we can rely on while we search for a successor," said David. D. French, president and CEO. "We wish him well in his retirement and in whatever new adventures he pursues."

Overly has more than 18 years of broad financial and legal experience, including 12 years as chief counsel at billion dollar divisions of General Electric Company and Lockheed Martin Corporation. He was also president and chief executive officer of International Wireless Communications Holding Corp.

Cirrus Logic's strong financial team includes W. Kirk Patterson, vice president and controller, and Steven E. Thompson, vice president and treasurer, who will continue in their respective capacities. These executives, each with more than 20 years of experience, have been primary leaders in the finance organization through the Cirrus financial and operational restructuring, supporting Fay during his tenure.

About Cirrus Logic

Cirrus Logic is the premier supplier of high-performance analog and DSP chip solutions for consumer entertainment electronics that allow people to see, hear, connect and enjoy digital entertainment. Building on its global market share leadership in audio integrated circuits and its rich mixed-signal patent portfolio, the company targets mainstream audio, video and Internet entertainment applications in the consumer entertainment market. Cirrus Logic operates from headquarters in Austin, Texas and major sites located in Fremont and El Dorado Hills, Calif., Broomfield and Boulder, Colo., as well as offices in Europe, Japan and Asia. More information about Cirrus Logic is available at www.cirrus.com.

Safe Harbor Provision

Except for historical information contained herein, the matters set forth in this news release are forward-looking statements that are dependent on certain risks and uncertainties including such factors, among others, as the ability of the CS4363 and CS4382 converters to perform as expected; overall conditions in the semiconductor market; the rate of consumer electronics market adoption of new products; customer cancellations of orders, or the failure to place orders consistent with forecasts; hardware or software deficiencies; delays in customer qualification of key new products; actual operational spending; and the risk factors listed in the company's Form 10-K for the year ended March 25, 2000, and in other filings with the Securities and Exchange Commission. The foregoing information concerning Cirrus Logic's business outlook represents our outlook as of the date of this news release, and Cirrus Logic undertakes no obligation to update or revise any forward-looking statements, whether as a result of new developments or otherwise.

Cirrus Logic(R) and Total-E(tm) are trademarks of Cirrus Logic Inc.