Summit Partners Invests $15 Million in Hittite Microwave Corp.

Boston, MA. Summit Partners, a leading private equity investor with offices in Boston, MA and Palo Alto, CA, announced today that it has invested $15 million in Hittite Microwave Corporation. Based in Chelmsford, MA, Hittite is a leading designer, developer and manufacturer of high performance integrated circuits for wireless and wireline communications systems. This funding will enable Hittite to continue to execute its rapid growth strategy, including the expansion of its design and manufacturing capabilities.

Dr. Yalcin Ayasli, Founder and CEO of Hittite, commented on the financing: "We have known Summit Partners for several years and are pleased to have them as an investor. Summit s proven experience in assisting market leading communications technology companies will help Hittite meet its long-term goals and better serve our customers."

Hittite s high volume product line of Monolithic Microwave Integrated Circuits (MMICs) is used in RF to millimeter wave applications, and is incorporated into a variety of commercial broadband telecommunication platforms including Internet last mile access radios, Cellular PCS and 3G platforms, two way MMDS radios, and various fiber optic systems. Hittite s extensive product line consists of approximately 150 gallium arsenide (GaAs) MMICs covering DC to 40 GHz. Products include switches, mixers, sensors, attenuators, amplifiers, frequency multipliers as well as custom IC s.

"We are very excited to be partnering with the strong management team at Hittite Microwave," stated Scott C. Collins, General Partner at Summit. "Already a leading supplier of sophisticated RF components, Hittite is well positioned for continued strong growth and product expansion."

Hittite s engineering staff has extensive semiconductor device to system level knowledge, enabling an understanding of the system designer s needs. Analog and mixed signal MMIC design experience includes MESFET, HBT, PHEMT, and BiCMOS IC fabrication processes. Hittite s facility in Chelmsford, MA includes two Class 100,000 production clean rooms, multiple Class 100 inspection areas, and engineering laboratories for MMIC design and development.

For more information on Hittite, visit the company s website at www.hittite.com.

Summit Partners was founded in 1984 and is one of the most successful venture capital firms in the United States. Since its formation, Summit has provided growth equity capital to over 215 technology and emerging growth companies. The 200+ companies financed by Summit have completed over 100 initial and follow-on public offerings and 60 mergers. Notable public companies in the communications technology sector previously financed by Summit include E-TEK Dynamics, Network Associates/McAfee Associates, Ditech Communications, Stanford Microdevices, MCK Communications, MIND, OPNET Technologies, Powerwave Technologies, Finisar Corporation, Somera Communications, Xylan Corporation and DSET Corporation. Summit was also the initial venture capital investor in CMGi and has financed many other successful companies in technology, health care, financial services and emerging growth industries. Summit Partners has 88 employees and a capital base of over $4.0 billion and invests through its venture capital, private equity, subordinated debt and hedge funds. Its principal investors are Fortune 500 corporations, pension funds, university endowments, financial institutions, and previously financed Summit entrepreneurs. Summit Partners maintains a website at www.summitpartners.com.

(c)2000 Summit Partners, L.P. SUMMIT PARTNERS is a trademark of Summit Partners, L.P. Summit Partners was founded in 1984 and is one of the most successful venture capital firms in the United States. Since its formation, Summit has provided growth equity capital to over 215 technology and emerging growth companies. The 200+ companies financed by Summit have completed over 100 initial and follow-on public offerings and 60 mergers. Notable public companies in the communications technology sector previously financed by Summit include E-TEK Dynamics, Network Associates/McAfee Associates, Ditech Communications, Stanford Microdevices, MCK Communications, MIND, OPNET Technologies, Powerwave Technologies, Finisar Corporation, Somera Communications, Xylan Corporation and DSET Corporation. Summit was also the initial venture capital investor in CMGi and has financed many other successful companies in technology, health care, financial services and emerging growth industries. Summit Partners has 88 employees and a capital base of over $4.0 billion and invests through its venture capital, private equity, subordinated debt and hedge funds. Its principal investors are Fortune 500 corporations, pension funds, university endowments, financial institutions, and previously financed Summit entrepreneurs. Summit Partners maintains a website at www.summitpartners.com.

Contact: Summit Partners (Boston) Bruce R. Evans Tel: 617/824-1000 bevans@summitpartners.com or Summit Partners (Boston) Scott C. Collins Tel: 617/824-1000 scollins@summitpartners.com