Credit Suisse First Boston Announces Investment Opinion on Fairchild Semiconductor.

PALO ALTO, Calif.--(BUSINESS WIRE)--Aug. 31, 1999--

Credit Suisse First Boston Technology Group research analyst Alan Rieper initiated coverage yesterday on Fairchild Semiconductor (FCS) with a STRONG BUY rating and a twelve-month price target of $32. EPS estimates are FY99 $0.58 and FY00 $1.07, respectively.

Fairchild Semiconductor is a manufacturer of standard devices that focus mainly on analog and discretes. "Its 'multimarket' strategy allows the company to address a broad customer base without any undue concentration by industry or individual account. FCS is well positioned to benefit from both a strengthening industry recovery and a product mix which has richened from recent acquisitions," stated Rieper in a research note issued earlier yesterday morning.

Rieper also believes that further upside in the company's valuation exists given that EPS estimates were based on conservative growth assumptions and the current operating margins are still well below optimal levels.

Credit Suisse First Boston is a leading global investment banking firm, providing comprehensive financial advisory, capital raising, sales and trading, and financial products for users and suppliers of capital around the world. It operates in over 60 offices across more than 30 countries and has over 14,000 employees. For the year ended December 31, 1998, CSFB had $6.7 billion in revenues, $7.1 billion in equity and $291 billion in assets. The Firm is a wholly owned subsidiary of the Zurich-based Credit Suisse Group.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.