Steven J. Bilodeau is Appointed President and Chief Executive Officer of Standard Microsystems Corporation.

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--March 18, 1999--Standard Microsystems Corporation (SMSC) of Hauppauge, New York announced today that Mr. Steven J. Bilodeau has been appointed President and Chief Executive Officer of the Company, effective immediately.

Mr. Paul Richman, who, last year, had informed Standard Microsystems Corporation's Board of Directors of his intention to retire as CEO of the Company, effective at the end of SMSC's 1998 fiscal year, will continue in his capacity of Chairman of the Board of Standard Microsystems Corporation. Mr. Arthur Sidorsky, who had previously been serving as SMSC's President and Chief Operating Officer, will continue to serve in the latter role until his retirement later this year.

Mr. Bilodeau's most recent position was that of President of the Semiconductor Equipment Group of Robotic Vision Systems Inc. (RVSI), also of Hauppauge, New York, a leading supplier of laser-based inspection systems, device handlers and Ball Grid Array (BGA) assembly machines to the semiconductor industry. Mr. Bilodeau was a member of RVSI's Board of Directors and also served in various other executive capacities from 1985 through early 1998, during which the company grew from about $5 million in sales and 50 employees to approximately $185 million in sales and over 900 employees. Mr. Bilodeau received his BS and MS degrees from the Massachusetts Institute of Technology and an MBA from the Harvard Business School.

Commenting on his joining Standard Microsystems Corporation, Mr. Bilodeau said that "I am very excited about joining SMSC during this period of transition, as the Company expands its product offerings from a market leadership position in PC input/output circuits to a broader family of connectivity, LAN and microprocessor chipset products. With a powerful intellectual property portfolio and an excellent cash position, combined with excellent relationships with industry leaders such as Compaq, IBM, Intel, HP and Dell, I believe that Standard Microsystems Corporation is well positioned, and has the potential for sustained growth in the future."

Speaking for Standard Microsystems Corporation, Mr. Richman stated that "Last year, when I announced my intention to retire from the position as CEO, I indicated that, with the Company now operating profitably and its financial resources stronger than they have ever been in its twenty seven year history, I felt that it was time for me to return to my position as Chairman of the Board and to focus on the long-term strategic issues that Standard Microsystems Corporation will be facing over the years ahead. I further stated that our Board of Directors and I had decided to institute a search for a new Chief Executive Officer who, upon joining the Company, would work with the Board and myself to position SMSC for future growth and success as we enter the new millennium. I would like to say today that I believe that we have found an outstanding, highly-intelligent and highly-qualified young man in Steve and an individual who we are all looking forward to working closely with over the months and years ahead."

About SMSC

Standard Microsystems Corporation is a worldwide supplier of metal-oxide-semiconductor/very large scale integrated (MOS/VLSI) circuits for the personal computer industry. SMSC has a leading position in input/output (I/O) circuits for PCs, with over 100 million units shipped and, additionally, supplies circuits for PC connectivity and local area networks. The Company also operates a wafer foundry that specializes in MicroElectroMechanical Systems (MEMS) devices. SMSC is a leading supplier of MEMS, with more than 20 million devices delivered to date.

Standard Microsystems is based in Hauppauge, New York and maintains offices worldwide, including locations in North America, Asia, Europe and Japan. SMSC operates engineering design centers in San Jose, CA; Westborough, MA; Hauppauge, NY and Austin, TX. More information about the Company is available on the World Wide Web at http://www.smsc.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this announcement are forward-looking statements that involve risks and uncertainties, including the timely development and market acceptance of new products, the impact of competitive products and pricing, the effect of changing economic conditions, and such risks and uncertainties as are detailed from time to time in the Company's SEC reports, including the Annual Report filed on Form 10-K and the Quarterly Reports filed on Form 10-Q.

Standard Microsystems is a registered trademark and SMSC is a trademark of Standard Microsystems Corporation. Product names and company names are the trademarks of their respective holders.