Conexant and UMC Sign a Long-term Semiconductor Wafer Supply Agreement

UMC Becomes Primary Advanced CMOS Foundry Partner for Conexant's Personal Networking Business

NEWPORT BEACH, Calif., and HSINCHU, Taiwan, September 4, 2001 - Conexant Systems, Inc. (NASDAQ: CNXT), a global leader in semiconductor system solutions for communications applications, and United Microelectronics Corporation (TAIEX: 2303, NYSE: UMC), a world-leading semiconductor foundry, today announced a five-year agreement that makes UMC the principal advanced CMOS semiconductor wafer supplier for Conexant's personal networking business. UMC has manufactured integrated circuits for Conexant since 1998.

The two companies will share and collaborate on detailed product and technology roadmaps, and UMC will manufacture the majority of the advanced CMOS-based products required by Conexant's personal networking business, which consists of wireless communications, digital infotainment and personal computing. The agreement covers 0.18-micron-and-below CMOS process technologies. Further details were not released.

"UMC is a world-class foundry supplier, and today we have strengthened our longstanding relationship with a strategic agreement that makes UMC our primary advanced digital CMOS wafer partner for the foreseeable future," said Dwight W. Decker, Conexant chairman and chief executive officer. "With this agreement, Conexant now has a secure and committed path to a fabless business model for advanced CMOS processes. Moving forward, we will no longer be required to make the research and development and capital investments associated with advanced CMOS process development and manufacturing. Instead, we will be able to focus our resources on the design and marketing of innovative semiconductor solutions for wireless communications and broadband access applications."

"We are extremely happy to extend our relationship with Conexant," said Robert Tsao, Chairman of UMC. "Through this long-term strategic supply agreement, Conexant will be able to rely on UMC's investments in advanced technology and manufacturing capacity. This alliance is a further confirmation of the trend towards specialization in today's fast changing technology industry. It will greatly benefit both of our companies as we work together to deliver the world's best technologies and products."

About Conexant
Conexant Systems, Inc. is a worldwide leader in semiconductor system solutions for communications applications. Conexant leverages its expertise in mixed-signal processing to deliver integrated systems and semiconductor products through two separate businesses: Conexant and Mindspeed Technologies(tm).

Conexant's personal networking business is focused on wireless communications, digital infotainment and personal computing products that are used in mobile communications and the broadband digital home. Mindspeed Technologies is focused on Internet infrastructure products including WAN transport, multiservice access and broadband access for applications that extend from the edge of the Internet all the way to its optical core.

Conexant is headquartered in Newport Beach, Calif., and delivered revenues of $2.1 billion for fiscal 2000. The company is a member of the S&P 500 and NASDAQ-100 indices. To learn more, visit us at www.conexant.com or www.mindspeed.com.

Safe Harbor Statement
This press release contains statements relating to future results of Conexant (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: global economic and market conditions, such as the cyclical nature of the semiconductor industry and the markets addressed by the company's and its customers' products; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; the availability and extent of utilization of manufacturing capacity; pricing pressures and other competitive factors; changes in product mix; fluctuations in manufacturing yields; product obsolescence; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the successful separation of the Company's Internet infrastructure and personal networking businesses; the ability to attract and retain qualified personnel; labor relations of the company, and its customers and suppliers; maintaining a consistent and reliable source of energy; and the uncertainties of litigation, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Conexant and Mindspeed Technologies are trademarks of Conexant Systems, Inc. Other brands and names contained in this release are the property of their respective owners.

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