MIPS Technologies Elects Tony Holbrook As Non-Executive Chairman of the Board of Directors

MOUNTAIN VIEW, Calif, - August 29, 2003 - MIPS Technologies, Inc. (Nasdaq: MIPS, MIPSB), today announced that it has elected Anthony B. Holbrook as its non-executive Chairman of the Board of Directors, effective August 28, 2003. Holbrook has been a member of MIPS Technologies' Board of Directors since the company's IPO in 1998. As Chairman, Holbrook will remain in an independent, non-executive director position, but he will be actively involved in such areas as strategic planning and partner relationships, working closely with John Bourgoin, CEO and president of MIPS Technologies.

"I have worked with Tony for more than 25 years, and I am delighted that he has agreed to take on this expanded role," said Bourgoin. "His experience and judgment will benefit MIPS Technologies and all its shareholders."

Holbrook retired from Advanced Micro Devices in 1994 after a long career in which he held a variety of senior executive positions including President, Chief Operating Officer and Chief Technical Officer.

About MIPS Technologies
MIPS Technologies, Inc. is a leading provider of industry-standard processor architectures and cores for digital consumer and business applications. The company drives the broadest architectural alliance that is delivering 32- and 64-bit embedded RISC solutions. The company licenses its intellectual property to semiconductor companies, ASIC developers and system OEMs. MIPS Technologies and its licensees offer the widest range of robust, scalable processors in standard, custom, semi-custom and application-specific products. The company is based in Mountain View, Calif., and can be reached at +1 (650) 567-5000 or www.mips.com.