Cypress and the California Alliance of African American Educators Announce Unique Partnership and the Opening of a New Computer Lab.

SAN JOSE, Calif. -- A one-of-a-kind partnership between Cypress Semiconductor Corp. (NYSE:CY) and the California Alliance of African American Educators (CAAAE) will officially launch on Wednesday, October 18, 2006, at 6:00 p.m. when a ribbon cutting ceremony at Cypress signals the opening of a fully equipped computer lab and office space, donated by Cypress. The donation is valued at close to $3,000 per month.

The 1,960 square foot lab, located in Building 2 at Cypress's San Jose headquarters, marks the culmination of a relationship that began seven years ago between CAAAE President Debra Watkins, and T.J. Rodgers, the founder, president and CEO of Cypress.

"Long before Jesse Jackson chastised Silicon Valley companies for not being diverse enough, the visionary T.J. Rodgers embraced a math, science and technology program, named after Dr. George Washington Carver, that encouraged African American students in grades K-12 to pursue careers in those fields," said Watkins, who helped organize the project.

Re-named the Dr. Frank S. Greene Scholars Program (GSP) after an African American Silicon Valley scientist and venture capitalist, this long-term mentoring program has a 100 percent success rate of graduating students who go on to college. To date, Cypress has donated more than $100,000 to this program. Former GSP participants are currently attending Pomona College, the University of California at Davis, Morehouse College, Harvey Mudd College and UCLA.

"There are many companies in Silicon Valley that purport to be committed to diversity, but Cypress is literally putting its money where its mouth is," said Watkins. "I know of no other company here that is giving African American students cubicles to call their own with laptops and a laser printer on their premises. The students and their parents are beyond excited! This investment will enhance the academic achievement of the scholars as well as countless other students who will flock to the lab from each of the CAAAE's six regions around the state of California," Watkins said.

In addition to housing the computer lab, the space is also the brand new headquarters for the CAAAE. Founded five years ago by Watkins and other educators of prominence from throughout California, it has nearly 1,000 members state-wide and runs one of the most highly-regarded professional development institutes in the country in partnership with Stanford University's School of Education.

"Partnership between education and industry is incredibly important to the future of our industry," said Rodgers. "The CAAAE has a perfect track record at mentoring students that have gone on to college and successful careers and Cypress is pleased to be a part of their success."

The media is invited to attend the grand opening event at Cypress, which will feature Dr. Rodgers, CAAAE board members, the 2006-2007 Greene Scholars, their parents and community leaders.

About CAAAE

The California Alliance of African American Educators' mission is to provide programs and services to students, families, and teachers in order to create culturally conscious African American students who are life-long learners and critical thinkers. To learn more about the CAAAE, visit www.caaae.org.

About Cypress:

Cypress solutions perform: consumer, computation, data communications, automotive, industrial, and solar. Leveraging proprietary silicon processes, Cypress's product portfolio includes a broad selection of wired and wireless USB devices, CMOS image sensors, timing solutions, specialty memories, high-bandwidth synchronous and micropower memory products, optical solutions and reconfigurable mixed-signal arrays. Cypress trades on the NYSE under the ticker symbol CY. Visit us at www.cypress.com.