Conexant Selected to Join S& 500 Index; Increasing Recognition of the Company's Technology Leadership and Broad Communications Semiconductor Product Portfolio.Business Editors and High-Tech Writers NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif.--(BUSINESS WIRE)--Jan. 27, 2000 Conexant Systems Inc., (Nasdaq:CNXT) Thursday announced that it has been selected to join the S& 500 Index, effective after the close of trading on Friday, Jan. 28, 2000. With more than $1 trillion indexed to the S& 500, the index is widely regarded as the standard for measuring large-cap U.S. stock market performance. Companies included in the index represent the leaders in high-growth industries. &uot;We are extremely pleased and honored to join the S& 500 Index,&uot; said Dwight W. Decker, chairman and chief executive officer of Conexant. &uot;Conexant is increasingly recognized as the world's largest pure-play communications semiconductor company. Our selection is a strong indication of the leadership role we are playing in developing next-generation communications technologies for the industry's fastest growing markets. Adding Conexant to the S& 500 Index will raise our visibility within the financial community and broaden our investor base.&uot; Standard &Poor's, a division of The McGraw-Hill Companies Inc., provides financial, economic and investment information and analytical services to the global financial community. S& calculates and maintains the S& Global 1200 Index, which includes the S& Euro and Euro Plus for Continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. , the S&/TSE 60 for Canada, the S& 500 for the U.S., the S&/TOPIX 150 for Japan, the S& Asia Pacific 100, the Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. 40 and the United Kingdom 150. S& also publishes the S& MidCap 400, S& SmallCap 600, S& SuperComposite 1500 and S& REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). Composite for the U.S. and the S&/TSE Canadian MidCap and S&/TSE Canadian SmallCap Indices. Over $1 trillion is indexed to S& indices. About Conexant With revenues of approximately $1.5 billion, Conexant is the world's largest independent company focused exclusively on providing semiconductor products and systems solutions for communications electronics. With more than 30 years of experience in developing communications technology, the company draws upon its expertise in mixed-signal processing to deliver integrated systems and semiconductor products for a broad range of communications applications. These products facilitate communications worldwide through wireline voice and data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. networks, cordless and cellular wireless telephony telephony without wires, usually employing electric waves of high frequency emitted from an oscillator or generator, as in wireless telegraphy. A telephone transmitter causes fluctuations in these waves, it being the fluctuations only which affect the receiver. See also: Wireless systems, personal imaging devices and equipment, and emerging cable and wireless broadband High-speed wireless transmission of data. What is "high" speed is always a changing number. Wireless systems are typically slower than land-based, wireline networks. In the past, wireless broadband started at 250 Kbps, whereas land-based broadband was generally considered to start at T1 communications networks. The company aligns its business into five product platforms: Network Access, Wireless Communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. , Digital Infotainment, Personal Imaging, and Personal Computing. Conexant is a member of the Nasdaq-100 Index, which represents the largest and most active stocks listed on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. across major industry groups. For more information, visit Conexant at www.conexant.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This news release contains statements relating to future results of the company (including certain projections and business trends) that are &uot;forward-looking statements&uot; as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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: global and market conditions, including, but 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 and extent of utilization of manufacturing capacity; pricing pressures and other competitive factors; changes in product mix; fluctuations in manufacturing yields; product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. ; the ability to develop and implement new technologies and to obtain protection of the related intellectual property; the successful implementation of the company's diversification strategy and restructuring plan; labor relations of the company, its customers and suppliers; timely completion of Year 2000 modifications by the company and its key suppliers and customers; and the uncertainties of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , as well as other risks and uncertainties, including but not limited to 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. Other brands and names contained in this release are the property of their respective owners. |
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