Vitesse Announces Confirmation of Common Stock Market Makers and Intention to Have a Conference Call.

CAMARILLO, Calif. -- The common stock of Vitesse Semiconductor Corporation (Nasdaq:VTSS) is currently trading in the Pink Sheets after Nasdaq delisted Vitesse's stock from the Nasdaq National Market effective as of the opening of business on June 28, 2006. The new trading symbol for Vitesse's stock is VTSS.PK (Pink Sheets:VTSS).

On May 16, 2006, Vitesse reported, as a result of the failure to file the its Quarterly Report on Form 10-Q for the quarter ended March 31, 2006, that Vitesse had received a Nasdaq Staff Determination indicating that Vitesse failed to comply with the filing requirements for continued listing set forth in Marketplace Rule 4310(c)(14) and that Vitesse's securities are therefore subject to delisting from the Nasdaq National Market. Vitesse subsequently requested a hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination and provided a formal submission for their consideration. This hearing took place on June 22, 2006. On June 26, 2006, Vitesse was advised that the Nasdaq Listings Qualifications Hearing Panel believed that because the time frame to become fully compliant with Nasdaq Marketplace Rules was longer than the Panel deemed reasonable or within its discretion to grant an extension, it was unable to continue Vitesse's listing.

"While we are disappointed by Nasdaq's decision, we wish to reiterate that Vitesse is dedicated and is currently undertaking the necessary measures to ensure the accuracy of its financial reports and the filing of its outstanding Second Quarter 2006 Form 10-Q as soon as possible," said Chris Gardner, president and chief executive officer of Vitesse. "We are committed to regaining compliance with all Nasdaq listing requirements and obtaining a relisting of our stock in a timely manner. We continue to work aggressively towards the goal of completing our internal investigation and restatement. Given the expected timing of the completion of this process, we understand and accept Nasdaq's decision."

Vitesse has confirmed that Lehman Brothers, Inc. and others will act as market makers for Vitesse common shares on the Pink Sheet System of Quotations. No assurances can be given that the market makers will continue to make a market in Vitesse's stock or that Vitesse's stock will continue to trade in the Pink Sheets.

Vitesse also announced its intention to have a conference call to discuss the status of the business and its efforts to address the delinquency of certain SEC filings. Vitesse will announce the date and time of the call in the next two weeks.

About Vitesse

Vitesse designs, develops and markets a diverse portfolio of high-performance, cost-competitive semiconductor solutions for communications and storage networks worldwide. Engineering excellence and dedicated customer service distinguish Vitesse as an industry leader in Gigabit Ethernet LAN, Ethernet-over-SONET, Advanced Switching, Fibre Channel, Serial Attached SCSI, Optical Transport, and other applications. Vitesse innovation empowers customers to deliver superior products for Enterprise, Access, Metro, and Core applications. Additional company and product information is available at www.vitesse.com.

FORWARD LOOKING STATEMENTS

This press release contains "forward looking statements" as described by the Private Securities Litigation Reform Act of 1995 (as amended) that reflects the opinion of Vitesse Semiconductor Corporation and involves certain risks and uncertainties at the time of its release. Risks relating to this press release include 1) the timing of the filing of Vitesse's Form 10-Q for the period ended March 31, 2006; 2) a determination by Nasdaq as to whether to permit Vitesse's common shares to be relisted for trading on the Nasdaq National Market (to be known as the Nasdaq Global Market as of July 1, 2006); and 3) the impact of yet unknown events that may cause Vitesse to further delay meeting the requirements for relisting on the Nasdaq National Market.