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SILICON GRAPHICS AND MIPS COMPUTER SYSTEMS ANNOUNCE RENEGOTIATION OF MERGER AGREEMENT

 SILICON GRAPHICS AND MIPS COMPUTER SYSTEMS ANNOUNCE
 RENEGOTIATION OF MERGER AGREEMENT
 MOUNTAIN VIEW, Calif., April 27 /PRNewswire/ -- Silicon Graphics, Inc. (NYSE: SGI) and MIPS Computer Systems, Inc. (NASDAQ: MIPS) announced that they are renegotiating the terms of the previously announced merger agreement
between the two companies. The original agreement, dated March 11, 1992, provided for the conversion of each outstanding share of MIPS common stock into 0.61 share of Silicon Graphics common stock. In light of recent developments, including MIPS' results of operations for the quarter ended March 31, 1992, the managements of the two companies have agreed upon a revised exchange ratio of 0.52 share of Silicon Graphics for each share MIPS share.
 The revised exchange ratio will be contained in an amendment to the merger agreement, which will require approval of both boards of directors and the delivery of fairness opinions by the financial advisors of the two companies. The parties anticipate that this process will require no more than one week. The merger would continue to be subject to a number of other conditions, including approval by the stockholders of the two companies. The parties intend to account for the merger as a pooling of interests, and they continue to believe that the merger will be completed during the quarter ending June 30, 1992.
 MIPS Computer Systems, Inc. is a leading supplier of RISC technology for the computer systems and embedded control markets. The company licenses its RISC architecture to its semiconductor and systems partners worldwide. MIPS also manufacturers and markets a family of high-performance computer systems that range from desktop computers to deskside and data center servers to OEMs, VARs and system integrators worldwide.
 Silicon Graphics, Inc. is a leading manufacturer of visual computing systems. The company delivers three-dimensional graphics, color, audio, video and real-time motion technologies to the technical and scientific computing marketplace. Silicon Graphics, Inc. has offices worldwide and headquarters in Mountain View, Calif.
 -0- 04/27/92
 /CONTACT: Marilyn Lattin (Financial), 415-335-7070, Jill Grossman (Media), 415-335-1516, both of Silicon Graphics or Caroline Hughes (Financial), 408-524-7295, Joanne Hasegawa (Media), 408-524-7164, both of MIPS/
 (SGI, MIPS) CO: Silicon Graphics, Inc.; MIPS Computer Systems, Inc. ST: California IN: CPR SU: TNM


JP -- NYON5 -- 2950 04/27/92 09:00 EDT
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Publication:PR Newswire
Date:Apr 27, 1992
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