Cypress and ProMOS to Co-Develop 1T Pseudo-SRAM Technology; One-Transistor Pseudo-SRAM Partners Promise Higher Density Memories for Cell Phones and Portable Devices.

Business Editors/High-Tech Writers

SAN JOSE, Calif.--(BUSINESS WIRE)

Feb. 25, 2002-Cypress Semiconductor (NYSE:CY) and ProMOS Technology Inc. of Taiwan today announced that they have signed an agreement to collaborate on development of one-transistor (1T) cell pseudo-SRAM products for cell phones and other mobile applications. In low-speed wireless applications, these devices offer nearly the performance of an SRAM at DRAM densities. Under the agreement, ProMOS will supply the process technology and Cypress the product technology for next-generation memory products.

"This agreement with ProMOS further strengthens Cypress's leadership in the micropower SRAM market," said Antonio Alvarez, Cypress's senior vice president for the Memory Products Division. "Our ultra-low-power MoBL(R) (More Battery Life) family of devices for wireless applications have the industry's lowest power consumption. But as mobile phones go to 3G and provide greater functionality, the amount of memory required increases significantly. We believe that ProMOS's 1T process is the technology of choice for these applications."

"We are very pleased to be working with Cypress," said Dr. Ming-liang Chen, president of ProMOS. "Cypress and ProMOS are both companies that pride themselves on leading-edge technologies, which makes our relationship particularly meaningful. With ProMOS' advanced process technology and manufacturing, combined with Cypress's outstanding design and marketing teams, we expect to bring about some major changes in the memory market starting early next year."

About Cypress

Cypress Semiconductor (NYSE:CY) 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.

About ProMOS Technologies Inc.

ProMOS Technologies Inc. was founded in December, 1996 at Science-Based Industrial Park, Hsinchu, Taiwan by incorporating the capital and technology talents of Infineon Technology AG and Mosel Vitelic Inc. ProMOS Technologies was the first company to successfully manufacture 64 Mb DRAM in 1997 and was one of the first companies in the world to start 300 mm fabrication. The business scope of the company includes research, development, production, manufacturing and sale of memory products. ProMOS is applying 0.17-micron and 0.14-micron technologies for 256 Mb DRAM production in its 200 mm fab -- with a capacity of 40,000 wafers per month -- and 0.14-micron technology for 256 Mb production in its 300 mm fab.

"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. MoBL is a registered trademark of Cypress Semiconductor.