REPEAT/ Fairchild Semiconductor EVP and CFO Joe Martin Shares Insights on the Company's Successful Acquisition Strategies

Business Wire, May 22, 2001

Business/Technology Editors

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REPEATING...

NEEDHAM, Mass.--(BUSINESS WIRE)--May 22, 2001

Industry-Recognized Deal-maker Shares Insights for Acquiring Value

and Driving Growth Through Acquisitions as Keynote Speaker During

Andersen's Power Breakfast Series

Addressing strategies that have contributed to a dramatic increase in global market share, Fairchild Semiconductor International (NYSE: FCS) Executive Vice President and Chief Financial Officer Joe Martin cited acquisitions as integral to the company's growth. An award-winning CFO, Martin shared his comments with participants as a keynote speaker at the Andersen Power Breakfast held today at the Sheraton Needham Hotel.

"Success for any acquisition involves tight management during and after the deal," Martin said. "Fairchild has acquired six organizations in four years and we've learned that integrating the new team immediately is as important as identifying, financing and closing the deal. This has been a fundamental part of our success in quickly realizing sales and cost synergies in all of our acquisitions. Our focus on sales, customer support, manufacturing and integration of the acquired company's management team have driven successful ROI, margins, growth and profitability. We fully expect to continue our aggressive program of acquisitions, even during this current down cycle. Some of the strongest acquisition opportunities to fuel long-term growth emerge during industry downturns, such as we're experiencing today."

Sharing insights into how to approach the acquisition process, Martin reviewed Fairchild Semiconductor's criteria for acquisition targets, which have included:

--Complementary products that will strengthen the overall

Fairchild portfolio;

--Expansion or augmentation of geographic regions;

--Penetration of new end markets; and

--Ability to quickly contribute positively to Fairchild's

financial position.

Organizations acquired by Fairchild since 1997 are:

--Raytheon Semiconductor in 1997

--Samsung Power Device Division in 1999

--QT Optoelectronics in 2000

--Kota Microcircuits in 2000

--Microlinear Power Management in 2000 and

--Intersil's Discrete Power Products in 2001.

"Our long range growth plan has always been a combination of new product development complemented by acquisitions that broaden our product portfolio, expand our geographic regional share and increase our penetration into new high-growth markets," Martin said. "This strategy has propelled Fairchild from our spinout as a $690 million company four short years ago into a $1.7 billion organization that today commands the leading worldwide market position in multi-market semiconductors."

About Fairchild Semiconductor International:

Fairchild Semiconductor International (NYSE: FCS) is a leading global supplier of high performance products for multiple end markets. With a focus on developing leading edge power and interface solutions to enable the electronics of today and tomorrow, Fairchild's components are used in computing, communications, consumer, industrial, automotive and aerospace applications. Fairchild's 11,000 employees design, manufacture and market power, analog & mixed signal, interface, logic, and optoelectronics products from its headquarters in South Portland, Maine, USA and numerous locations around the world. Please contact us on the web at www.fairchildsemi.com.

Joe Martin serves as executive vice president and chief financial officer for Fairchild Semiconductor International. He is a member of the company's Board of Directors. Martin has more than twenty years experience in the semiconductor and semiconductor equipment industries. In 2000, Joe was named by CFO Magazine as CFO of the Year in the Turnaround Management category.

Special Note on Forward-Looking Statements:

This press release includes forward-looking statements that are based on management's assumptions and expectations and that involve risk and uncertainty. Forward-looking statements usually, but do not always, contain forward-looking terminology such as "we believe," "we expect," "we plan," or "we anticipate," or refer to management's expectations about Fairchild's future performance. Many factors could cause actual results to differ materially from those expressed in forward-looking statements. Among these factors are the following: changes in overall economic conditions; changes in demand for our products; changes in inventories at our customers and distributors; technological and product development risks; availability of manufacturing capacity; availability of raw materials; competitors' actions; loss of key customers; order cancellations or reduced bookings; changes in manufacturing yields or output; and significant litigation. These and other risk factors are discussed in the company's quarterly and annual reports filed with the SEC and available at www.sec.gov (see the Risk Factors subsection of the Business section in our annual report on Form 10-K for the year ended December 31, 2000).