Alchemy Semiconductor sets stage for global presence with latest sales hire

ALCHEMY SEMICONDUCTOR SETS STAGE FOR GLOBAL PRESENCE WITH LATEST SALES HIRE

Mike McCourt, Former Avnet Europe and Motorola Executive, Joins Internet Edge Device Company as VP of Worldwide Sales

- Alchemy Semiconductor, Inc.[tm], an Austin-based fabless semiconductor company targeting the Internet Edge Device market, announced today that Mike McCourt has joined the company as VP of Worldwide Sales. McCourt is working with Alchemy's sales representatives, distributors and direct sales force to lead the company's aggressive sales revenue plans on a global scale.

McCourt has held key executive positions with Avnet Electronics Marketing in Europe for the last three years, where one of his roles was managing a team of 500 sales people across 18 countries. For 13 years he worked in Motorola's Semiconductor Products Sector, most recently as Director of its PowerPC RISC Operations in Austin, Texas; in addition to previous product and sales management positions in US and Europe.

"Mike has the combination of embedded microprocessor technical and sales skills that Alchemy needs to harness the high interest in our Internet Edge Processors and translate that into a strong global market position," said Alchemy Semiconductor's President and CEO, Eric Broockman. "His engineering background and PowerPC experience will be a strong asset to our customers in defining and targeting the special needs of embedded products in the Internet Edge Device marketplace which includes enterprise, wireless and residential products."

Alchemy Semiconductor announced its Au1000 Internet Edge Processor in June 2000. The high performance, high integration, yet low power systems-on-a-chip (SOC) is based on an Alchemy design 32-bit MIPS architecture (NASDAQ: MIPS). With its highly integrated on-chip memory controllers and Internet access peripherals, the Au1000 runs a variety of operating systems, including Windows® CE, Linux®, and VxWorks®. Alchemy has also integrated a set of peripherals targeted at communications market segments with products such as wireless palm-sized PCs, 3G data devices, VoIP telephony devices and networking products like residential gateways, firewalls and routers. Alchemy Semiconductor's founding team includes prominent embedded microprocessor architects including former DEC Alpha / StrongARM design team members.

"Over the next 12 to 24 months the Alchemy Semiconductor product roadmap presents a unique and exciting opportunity with it's rare combination of innovation and technical forethought aimed at satisfying the needs of a rapidly growing market," said McCourt. "Add to that the proven design expertise and corporate leadership of the company . . . that's what attracted me to Alchemy. "

Prior to his tenure at Motorola, McCourt held positions with Texas Instruments, Inc. in the UK, and Plessey Telecommunications & Office Systems, Ltd. He will be joining Alchemy Semiconductor on August 28, 2000, and will be relocating to Austin, Texas, from the UK.

About Alchemy Semiconductor

Founded in Austin, Texas, in 1999, Alchemy Semiconductor is a fabless semiconductor company that designs, develops and markets high performance, yet very low power systems-on-a-chip (SOCs) for the Internet Edge Device market. The company's founding team includes several of the most prominent embedded microprocessor architects and developers in the world, allowing for a combination of proven design execution and MIPS performance technology to achieve high performance, low power dissipation and system integration in its Internet Edge Processor. Alchemy's headquarters are at 7800 Shoal Creek Blvd., Suite 222W, Austin, Texas 78757; or go to www.alchemysemi.com.