Faraday Technology Appoints Charlie Cheng, Former CEO of Lexra, as New President of the US Company

Former CEO of Lexra Inc. to lead Faraday's Rapid Expansion in the US

SUNNYVALE, California, and HSINCHU, Taiwan – October 7, 2003 - Faraday Technology Corporation (TAIEX: 3035), a leading provider of ASIC design service and silicon proven IP, today announced that Charlie C. Cheng has been named the President of Faraday Technology USA. He replaces Wilson Tzang, a Faraday board member who has been filling in on an interim basis.

"Charlie brings 20 years of general management and marketing savvy in the electronic industry to his new role. His extensive experience in management and familiarity with the US markets are enormous assets that help position Faraday as top ASIC and IP provider in the US in the years ahead," said H.P. Lin, President of Faraday Technology Corp. "I'm delighted that Faraday continues to attract such extraordinary people to continue our growth."

"Faraday has the ideal market position as the US semiconductor enters the new millennium, having a proven and cost-effective platform coupled with highly differentiated technology," said Charlie Cheng, President of Faraday USA. "My goal is to deliver Faraday's value to US companies, and make Faraday a top five ASIC vendor in the US."

For the last six years, Charlie Cheng was Founder, President and CEO of Lexra Inc., a microprocessor IP company which established a reputation as the most innovative and productive 32-bit processor vendor. From 1995 to 1997, Cheng was Vice President of Marketing at ASPEC Technology Inc. Prior to joining ASPEC, Cheng held several senior management positions at Viewlogic Systems, Zycad Corporation, Iomega, and Edge Corporation. Cheng began his career in 1985 at IBM as a software engineer. He earned a B.S. degree in computer science and mechanical engineering from Cornell University, Ithaca, NY.
 
About Faraday Technology Corporation
Faraday Technology Corporation provides leading ASIC/SoC design services and production-proven IPs to customers ranging from system houses and IDMs to IC design houses. The company's broad portfolio of key IPs includes leading products such as RISC CPUs, 16/20/24-bit DSPs, USB 2.0, gigabit Ethernet, and Serial-ATA. Faraday's ASIC design services and IPs are widely used in PC peripherals, communication, and digital consumer products. With more than 480 employees and 2002 revenue of 96.2 million USD, Faraday is the largest fabless ASIC design service company in all Asia-Pacific. Headquartered in Hsinchu Taiwan, Faraday offers service and support branch offices around the world, including the U.S., Japan, Europe, and China. For more information on Faraday, please visit http://www.faraday.com.tw