Conexant Finalizes Senior Management Team as Company Nears Completion of Its Focused Business Creation Strategy.

Business & High-Tech Editors

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--June 18, 2003

Rhodes to Become President of Independent

Broadband Communications Company;

Brewster Appointed EVP and COO and Blouin Assumes CFO Position

Conexant Systems, Inc. (Nasdaq:CNXT), a worldwide leader in semiconductor system solutions for communications applications, today announced several new executive appointments as it finalizes its senior management structure in preparation for its operation as an independent broadband communications company. Matt Rhodes, Conexant senior vice president and president of the company's Broadband Communications segment, will become president of the continuing Conexant. Lewis C. Brewster, senior vice president of sales, has been appointed executive vice president and chief operating officer of the company, responsible for sales, quality and operations. J. Scott Blouin will become Conexant's chief financial officer, and remains a company senior vice president.

Scott Allen, vice president of communications, and Michael Vishny, senior vice president of human resources for the Broadband Communications segment, have been promoted to senior vice presidents of their respective functions for the continuing Conexant. Rhodes, Blouin, Allen and Vishny will all report to Dwight W. Decker, Conexant chairman and chief executive officer. Brewster will continue to report to Rhodes. Additional senior management members include Dennis O'Reilly, senior vice president and general counsel, and Ashwin Rangan, senior vice president and chief information officer, both of whom report to Decker. The new appointments will become effective upon the completion of the spin-off of Conexant's Internet infrastructure business, Mindspeed Technologies(TM), Inc., which is expected to occur on June 27, 2003.

"It is a pleasure to acknowledge the significant contributions each of these individuals has made to Conexant," said Decker. "Matt's vision, business insight and technical expertise have been instrumental to our success in achieving market-leading positions within the broadband communications semiconductor market. These attributes, along with his ability to build and motivate results-driven teams, will provide Conexant with outstanding business leadership.

"Lewis is a valuable asset to both Conexant and our customers," Decker continued. "He has established strong relationships with key customers around the globe, and worked closely with our product development team to translate their requirements into industry-leading products. His broad company knowledge and hands-on experience in sales and operations are ideally suited for his new position as COO.

"Scott Blouin's solid financial credentials and long history in the highly competitive and cyclical semiconductor industry are a powerful combination. His proven financial management skills and industry insight will be particularly beneficial as we move forward as a profitable and growing company.

"Scott Allen and Mike Vishny have demonstrated that they possess the talent, experience and determination required to excel in their roles in communications and human resources," said Decker. "We are moving towards independent operation with a solid and accomplished management team that is focused on successfully executing on our strategic imperatives, and is committed to delivering even greater value to our customers and shareowners."

Conexant's Broadband Communications business develops and delivers integrated solutions that enable digital entertainment and information networks for the home and small office. Key products include digital subscriber line (DSL) and cable modem solutions, home network processors, broadcast video encoders and decoders, digital set-top box components and systems solutions, and the foundation dial-up modem business.

About Conexant

Conexant Systems, Inc., a worldwide leader in semiconductor system solutions for communications applications, leverages its expertise in mixed-signal processing to deliver integrated systems and semiconductor products through two separate businesses.

The Broadband Communications business develops and delivers integrated semiconductor solutions that enable digital entertainment and information networks for the home and small office. Its product portfolio includes the building blocks required for bridging cable, satellite, and terrestrial data and digital video networks.

Mindspeed Technologies(TM), the company's Internet infrastructure business, designs, develops and sells semiconductor networking solutions for communications applications in enterprise, access, metropolitan and wide area networks. Conexant is headquartered in Newport Beach, Calif. To learn more, visit us at www.conexant.com or www.mindspeed.com

Safe Harbor Statement

This press release contains statements relating to future results of Conexant (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: the cyclical nature of the semiconductor industry and the markets addressed by the company's and its customers' products; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; the availability of manufacturing capacity; pricing pressures and other competitive factors; changes in product mix; product obsolescence; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the successful implementation of the company's expense reduction and restructuring initiatives; the successful separation of the company's Broadband Communications and Mindspeed Technologies(TM) businesses; the ability to attract and retain qualified personnel; and the uncertainties of litigation, as well as other risks and uncertainties, including those detailed from time to time in the company's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Note: Conexant and Mindspeed are trademarks of Conexant Systems, Inc. Other brands and names contained in this release are the property of their respective owners.

Executive Biographies

Matt Rhodes, 45, was named president of Conexant's Broadband Communications segment in May 2002. Previously, he served as senior vice president and general manager of the company's Personal Computing Division since 1998. Prior to that, he was director of marketing for software products. Before joining Conexant, Rhodes was director of VLSI technology at Pacific Communication Sciences, Inc. He received a master's degree in business administration from the Anderson School of Management at the University of California, Los Angeles. He also holds a master's degree in electrical engineering from Lehigh University and a bachelor's degree in physics from Pennsylvania State University.

Lewis Brewster, 38, has held the position of senior vice president, worldwide sales for Conexant since December 1998. Prior to his current position, he held various executive positions within Rockwell Semiconductor Systems including executive director of Americas sales, and director of strategic sales and operations. Brewster received a master's degree in business administration from Stanford University and a bachelor's degree in electrical engineering and biomedical engineering from Duke University.

Scott Blouin, 52, joined Conexant in January 2001 with more than 23 years of experience in the finance organizations of various semiconductor industry companies. Before joining Conexant, he spent five years with Burr-Brown Corporation, first as corporate controller and most recently as chief financial officer. Prior to that he spent 17 years with Analog Devices, Inc., where he held a number of senior financial positions including director of finance for the company's worldwide manufacturing organization. Blouin received his master's degree in business administration from Wake Forest University. He also holds a bachelor's degree in business administration from the University of New Hampshire.

Scott Allen, 46, joined Conexant as executive director of public relations in February 2000, and was appointed vice president of communications for the Broadband Communications business in February 2001. Prior to joining Conexant, he was employed by Advanced Micro Devices. During his 16 years with AMD, he held positions of increasing responsibility culminating in his most recent assignment as director of worldwide public relations. Allen earned his bachelor's degree in journalism from San Jose State University.

Mike Vishny, 40, joined Conexant as senior vice president of human resources for the Broadband Communications segment in January 2002. His previous experience includes serving as the human resources vice president and chief human resources officer of U.S. Robotics Corporation, and as vice president of human resources and internal communications with Gateway Computer Corporation's business division. He also served as the Asia-Pacific regional director of human resources for S.C. Johnson Company, and spent six years in various senior management positions for Dun & Bradstreet Corporation/The A.C. Nielsen Company. Vishny holds a bachelor's degree in business administration and a master's degree in labor and industrial relations from the University of Illinois at Urbana-Champaign.

Dennis E. O'Reilly, 58, joined Conexant in January 1999 as senior vice president and general counsel. Prior to joining Conexant, he served as director of business development for Intel Corporation's Mobile and Handheld Products Group. Before that, he held the position of Group Counsel for Intel Corporation. O'Reilly received a Juris Doctor degree from the Boston University School of Law and a bachelor of arts degree from the State University of New York at Binghamton.

Ashwin Rangan, 43, has been senior vice president and chief information officer of Conexant since December 1998. Previously, he served as executive director, business process re-engineering and information technology for Rockwell Semiconductor Systems. Prior to joining Rockwell in 1995, Rangan was senior manager of Demand Management Systems at AST Computer. He holds a master's degree in industrial engineering and management, with specialization in operations management and information systems, from the National Institute of Industrial Engineering in Bombay, India, and a bachelor's degree in mechanical engineering from Bangalore University.

Note to editors: Photos are available upon request.