MIPS Technologies Stock Added to the Russell 3000 U.S. Stock Market Index

MOUNTAIN VIEW, Calif., July 1, 2004 - MIPS Technologies, Inc. (Nasdaq: MIPS), a leading provider of industry-standard processor architectures and cores for digital consumer and business applications, announced today that it has joined the Russell 3000 Index. Membership in the Russell 3000 means automatic inclusion in the small-cap Russell 2000 Index.

About the Russell Index
Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 Index while the remaining 2,000 companies become the widely used Russell 2000 Index.

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.