Cypress Receives Solectron Preferred Supplier Award; Solectron Launches Awards At Supplier Day in Shanghai.

Business Editors/High-Tech Writers

SAN JOSE, Calif.--(BUSINESS WIRE)--June 18, 2002

Cypress Semiconductor Corporation (NYSE:CY) today announced it had received a Preferred Supplier Award from Solectron Corporation, a leading provider of electronics manufacturing and supply-chain management services. This is the first year that Solectron is conferring the award on its suppliers. The awards were handed out at Solectron's Supplier Day 2002 ceremony in Shanghai, China.

The winners were selected for providing Solectron and its customers with a competitive advantage through consistently high performance. The winners participate in Solectron's global supplier performance management program, which includes an objective, data-driven evaluation against such criteria as price competitiveness, delivery, quality, supply-chain integration, and technology. Winning companies must garner scores of over 85 points out of 100 for two consecutive quarters on Solectron's score card.

"Cypress is excited to be one of the select companies in this program," said Bien Irace, Cypress's vice president for contract manufacturing. "This award highlights the concerted effort Cypress exerts to meet the supply chain management goals of the worldwide electronics manufacturing channel through strong strategic programs and dedicated account support."

"We are pleased to honor Cypress with our Preferred Supplier Award," said Eddie Maxie, Solectron's vice president of global supply-base management. "Cypress has consistently demonstrated their commitment to deliver outstanding support to Solectron and our customers. We are happy to recognize them as a part of our global supplier performance management program."

About Cypress

Cypress Semiconductor Corporation is Driving the Communications Revolution(TM) with high-performance integrated circuits for network infrastructure and access equipment. Leveraging its process and system-level expertise, the company designs and manufactures solutions targeted across wireless and wireline communications. Cypress supports a wide range of industry standards, such as SONET (OC-48, OC-192, and OC-768), Voice over Internet Protocol (VoIP), InfiniBand(TM) and Gigabit Ethernet. The company's communications product lines include programmable high-speed physical layer devices (PHYs), wirespeed network search engines (NSEs) and network coprocessors (NCPs), and datapath switching elements (DSEs). Cypress is also the industry's leader in communications timing solutions, networking-optimized communications memories and personal connectivity solutions, such as USB and Bluetooth.

Cypress is a leader in pure optical and optoelectronic technologies designed to push network transmissions to higher performance levels and to satisfy the increasing demand for network bandwidth. With a focus on emerging communications applications, Cypress aims to become the preferred silicon supplier for network infrastructure solutions and for every network data stream to pass through at least one Cypress IC.

Cypress employs 4,000 people worldwide. Its shares are listed on the New York Stock Exchange under the symbol CY. More information about Cypress is accessible on the Web at http://www.cypress.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements herein that are not historical facts are "forward-looking statements" involving risks and uncertainties, including but not limited to: the effect of global economic conditions, shifts in supply and demand, market acceptance, the impact of competitive products and pricing, product development, commercialization and technological difficulties, and capacity and supply constraints. Please refer to Cypress's Securities and Exchange Commission filings for a discussion of such risks.

Note to Editors: Cypress and the Cypress logo are registered trademarks of Cypress Semiconductor Corporation. "Driving the Communications Revolution" is a trademark of Cypress Semiconductor. All other trademarks are the property of their respective owners.