Cypress Increases Share Buyback.SAN JOSE, Calif.--(BUSINESS WIRE)--Sept. 1, 1998--Cypress Semiconductor Corp. (NYSE NYSE See: New York Stock Exchange :CY) today announced that its board of directors has approved the repurchase of 10 million of Cypress's 91.0 million outstanding shares. This action raised the limit on the current buyback program from 4 to 14 million shares. Cypress Semiconductor Corp. is an international supplier of high-performance integrated circuits with worldwide headquarters in San Jose. The company provides a broad range of products for leading computer, networking and telecommunications companies worldwide. The company's product line includes static RAM, EPROM EPROM in full erasable programmable read-only memory Form of computer memory that does not lose its content when the power supply is cut off and that can be erased and reused. , and specialty memories; programmable logic devices (PLDs); data communications products; and timing devices and USB USB in full Universal Serial Bus Type of serial bus that allows peripheral devices (disks, modems, printers, digitizers, data gloves, etc.) to be easily connected to a computer. microcontrollers. Cypress shares are listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol CY. The company has a site on the World Wide Web at http://www.cypress.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 under 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 Statements in this press release regarding Cypress's business that are not historical facts are "forward-looking statements" involving risks and uncertainties, including, but not limited to, market-acceptance risks, the effect of economic conditions and shifts in supply and demand, the impact of competitive products and pricing, product development, commercialization and technological difficulties, and capacity and supply constraints. Please refer to the MD&A (Management Discussion and Analysis of Financial Condition and Results of Operations) for a discussion of such risks in the most recent Cypress annual report on Form 10-K, the quarterly report on Form 10-Q and the convertible debenture offering memorandum.
CONTACT: Cypress Semiconductor, San Jose
Manny Hernandez, 408/943-2754
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