Cypress Sponsors The Stanford Open 2002 Men's Gymnastics Meet.

Business Editors/High-Tech & Sports Writers 

SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 23, 2002

Cypress Semiconductor (NYSE:CY) today announced that it is sponsoring the Stanford Open 2002 Men's Gymnastics Meet, the primary fundraiser for both the Gymnastics Training Center at Stanford and the San Mateo Gymnastics Boosters. The meet is the premier men's gymnastics event in the Western U.S. and takes place January 25-27, 2002 at Stanford University's Burnham Pavilion.

"Cypress has chosen not to discontinue its corporate sponsorship program during hard times," said Cypress President and CEO T.J. Rodgers. "We believe important programs do not become less important just because the economy is hurting."

The meet is unique in that the Saturday night session allows qualifying high school juniors and seniors (Class 1 gymnasts, the highest level within the Junior Olympic Program) the opportunity to compete with college and Elite gymnasts (candidates for the Olympic Team) from around the country in an NCAA format meet. Last year, this session drew over 1,500 spectators in a standing-room-only crowd.

"We're very grateful to Cypress for sponsoring the meet," said Sadao Hamada, the Stanford Men's Gymnastics Head Coach. "The meet is important to the gymnastics community, because it creates a top-notch experience for competitors of all ages."

This is the first year that Cypress is sponsoring the Stanford Open. The proceeds from the event will be used to educate and train local gymnasts and coaches and to enhance the opportunity for younger Silicon Valley competitors to get on the Olympic track. Premier meets are important to attract young athletes to the U.S. gymnastics program, which has been steadily increasing in size since it was establish in the mid-1960s. At that time, the program had roughly 7,000 members on a limited competition schedule; today it has grown to more than 71,000 members. The athletes range in age from six through 25 years old and are from clubs in the U.S. and Mexico. This year the meet organizers are expecting over 550 competitors from over 50 clubs. For additional information about the event, visit the web site: www.stanfordopen.com.

About Cypress

Cypress Semiconductor 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 and above), 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: "Driving the Communications Revolution" is a trademark of Cypress Semiconductor.