Conexant Provides LG Electronics With Semiconductor Solutions for New Interactive Set-Top Boxes; Chipset Supports Interactive Television Services Multimedia Home Platform.

Business Editors & High-Tech Writers

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Feb. 17, 2003

Conexant Systems, Inc. (Nasdaq:CNXT), a worldwide leader in semiconductor system solutions for communications applications, today announced that its digital satellite set-top box (STB) semiconductor solution has been selected by LG Electronics Inc. (LGE) for use in interactive set-top boxes that will be deployed in Korea Digital Satellite Broadcasting's (KDB) SkyLife satellite television network.

The system solution supports the digital video broadcasting- multimedia home platform (DVB-MHP), which was jointly created with Alticast, a pioneer in the field of interactive digital TV software development. The new interactive satellite television STB will provide consumers with services such as quiz games and various television commerce applications such as online shopping.

"As a global electronics and information communications company, LGE is at the forefront in the development of advanced television products and technologies," said Jeffrey Crosby, vice president of marketing for Conexant's set-top box business.

"We are pleased that they have recognized the technical and economic advantages that Conexant's semiconductor solutions provide and that they have chosen our chipset as the basis of their new multimedia set-top box."

"Conexant meets our expectations on the progressive solutions in new areas such as SmartBox 2.0 (MHP-STB) for KDB," said Dr. Choon Lee, the research fellow of LGE's digital TV laboratory. "We are also pleased to work with Conexant. They are highly dedicated and the flexibility of their solution helps reduce manufacturing costs and development cycles."

"Working closely with Conexant's R&D team to bring manufacturers an open standard, MHP platform is critical to the rollout of new services such as interactive television," said Seung R. Jee, president and chief executive officer of Alticast. "We're pleased to play a part in the launch of these exciting new services."

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 solutions that enable digital entertainment and information networks for the home and small office. Mindspeed Technologies(TM), the company's Internet infrastructure business, designs, develops and sells a complete portfolio of semiconductor networking solutions that facilitate the aggregation, transmission and switching of data, video and voice from the edge of the Internet to linked metropolitan area networks.

Conexant is headquartered in Newport Beach, Calif. To learn more, visit us at www.conexant.com or www.mindspeed.com.

About LG Electronics

LG Electronics is a major global player in electronics and information & communications with its annual sales of $15.3 billion in 2002, employing about 64,000 workers in 72 subsidiaries around the world. LGE operates R&D, manufacturing and sales & marketing facilities worldwide focusing on digital TV, Internet-enabled home appliances and mobile handsets.

LG Electronics is the first manufacturer to launch the Internet refrigerator, now equipped with every possible Internet-enabled home appliance. LG Electronics also succeeded in commercializing the CDMA digital mobile communication system for the first time.

Meanwhile LGE strengthens its core competencies even more to further its ground as the "Digital Leader" in the digital era. LG Electronics' goal is to enable the networks among the digital products that will make lives easier and happier than ever.

LG Electronics has headquarters in Seoul, Korea. To learn more, visit the company at www.lge.com.

Safe Harbor Statement

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