Mindspeed Completes $10 Million Sale of Intellectual Property

Company Significantly Strengthens Balance Sheet With Transfer of Non-Core Patents

July 21, 2008 -- Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today announced that it has completed the sale of certain non-core patents for $10 million, which will be reported in the company's fourth quarter revenues. Specific terms of the sale are confidential.

Mindspeed has a broad intellectual property portfolio with a number of patents, which are no longer core to its business focus. For the past year the company has generated revenues from patent sales and expects to enter into additional strategic non-core patent sale or licensing arrangements in the future.

About Mindspeed Technologies®

Mindspeed Technologies, Inc. designs, develops and sells semiconductor networking solutions for communications applications in enterprise, access, metropolitan and wide-area networks.
The company's three key product families include high-performance analog transmission and switching solutions, multiservice access voice-over-IP processors designed to support voice and data services across wireline and wireless networks and WAN communication products such as T/E carrier transmission devices and ATM/MPLS network processors.
Mindspeed's products are used in a wide variety of network infrastructure equipment, including voice and media gateways, high-speed routers, switches, access multiplexers, cross-connect systems, add-drop multiplexers and digital loop carrier equipment.
To learn more, visit us at www.mindspeed.com.