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News Article

Conexant Sees Improved First Fiscal Quarter Revenue Outlook

SOURCE: Conexant Systems, Inc.

Company Now Expects to Deliver Total Revenue Growth of 5-7% Sequentially, Driven by Continued Strong Growth in Wireless Communications

Newport, CA. Conexant Systems, Inc. (Nasdaq: CNXT) has announced that it expects revenues for its first fiscal quarter, ending Dec. 28, 2001, to increase 5-7 percent over the $201.0 million reported for its fourth fiscal quarter of 2001.

The company said the revenue outlook has improved from the modest growth it anticipated at the beginning of the current quarter as a result of continued strong performance in its Wireless Communications Division. Conexant expects to deliver a sequential increase in wireless revenues of approximately 25 percent, following the 24 percent sequential wireless growth achieved last quarter.

"Through the first two months of the quarter, our wireless revenues have exceeded our expectations and should increase approximately 25 percent sequentially," said Dwight W. Decker, Conexant chairman and chief executive officer. "This is the result of strong demand across our wireless product portfolio, including power amplifiers, complete GSM cellular system solutions and radio frequency subsystems."

"With aggregate revenues from our other businesses in line with our original projections, we now expect total Conexant first quarter revenues to increase 5-7 percent over the fourth fiscal quarter of last year," Decker said. Decker is presenting today at the Credit Suisse First Boston Annual Technology Conference in Scottsdale, Ariz. Conexant will report its fiscal first quarter 2002 results on Jan. 16, 2002.

About Conexant Conexant Systems, Inc. is a worldwide leader in semiconductor system solutions for communications applications. Conexant leverages its expertise in mixed-signal processing to deliver integrated systems and semiconductor products through two separate businesses: Conexant and Mindspeed Technologies.

Conexant s personal networking business is focused on wireless communications, digital infotainment and personal computing products that are used in mobile communications and the broadband digital home. Mindspeed Technologies designs, develops and sells a complete portfolio of semiconductor networking solutions that facilitate the aggregation, transmission and switching of data, video and voice from the edge of the Internet to linked metropolitan area networks and long-haul networks.

Conexant, headquartered in Newport Beach, Calif., delivered revenues of $1.1 billion for fiscal 2001 and has approximately 6,500 employees worldwide. The company is a member of the S&P 500 and NASDAQ-100 indices. To learn more, visit us at http://www.conexant.com or http://www.mindspeed.com.

Safe Harbor Statement This news release contains statements relating to future results of Conexant (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: global economic and market conditions, such as the cyclical nature of the semiconductor industry and the markets addressed by the company s and its customers products; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; the availability and extent of utilization of manufacturing capacity; pricing pressures and other competitive factors; changes in product mix; fluctuations in manufacturing yields; product obsolescence; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the successful planned disposition of certain assets; the successful separation of the company s Internet infrastructure and personal networking businesses; the ability to attract and retain qualified personnel; labor relations of the company, its customers and suppliers; and the uncertainties of litigation, as well as other risks and uncertainties, including but not limited to the security and safety risks of our employees and of company facilities and those risks and uncertainties detailed from time to time in the company s Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Note to Editors: Conexant is a trademark of Conexant Systems, Inc. Other brands and names contained in this release are the property of their respective owners.

Contact: Conexant Systems, Inc., Newport Beach Gwen Carlson (editorial) Tel: 949/483-7363 or Thomas Schiller (investors) Tel: 949/483-4707

Conexant Systems, Inc., Newport Beach
Gwen Carlson (editorial)
Tel: 949/483-7363
or
Thomas Schiller (investors)
Tel: 949/483-4707
Web site: http://www.mindspeed.com
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