Cypress Named Top Avnet Cilicon Supplier for 2002; Award Recognizes World-Class Commitment and Dedication to Customer Service

Business Wire, Dec 16, 2002

Business Editors/High-Tech Writers

SAN JOSE, Calif.--(BUSINESS WIRE)--Dec. 16, 2002

Cypress Semiconductor Corporation (NYSE:CY) today announced it had received the Synergy best-in-class supplier award for 2002 from Avnet Cilicon America's semiconductor division, one of the world's largest technology marketing and services distributors. The award exemplifies the close working relationship between Avnet and its suppliers that the company considers to be a requirement in today's global economy.

"Cypress is pleased by the strong results it achieved with Avnet during a very challenging year," said Rich Parker, Cypress's vice president for distribution. "This award highlights our multilevel team approach to meeting Avnet's needs. We are not Avnet's largest supplier but are very proud to be acknowledged as their best. The award reflects Cypress's contributions to Avnet's Design Technical Marketing Program -- a program that provides Avnet customers with application solutions -- and Cypress's longstanding commitment to the distribution channel.

"Cypress embodies the spirit of partnership with Avnet," said Jeff Ittel, president of Avnet Cilicon, the semiconductor distribution specialist division of Avnet Electronics Marketing in the Americas. "Cypress is engaged with Avnet at all levels -- our customers, field sales team, marketing and asset groups, program managers, marketing communications, and special programs."

About Cypress

Cypress Semiconductor Corporation (NYSE:CY) is Connecting From Last Mile to First Mile(TM) with high-performance solutions for personal, network access, enterprise, metro switch, and core communications-system applications. Cypress Connects(TM) using wireless, wireline, digital, and optical transmission standards, including Bluetooth, USB, Fibre Channel, SONET/SDH, Gigabit Ethernet, and DWDM. Leveraging its process and system-level expertise, Cypress makes industry-leading physical layer devices, framers, and network search engines, along with a broad portfolio of high-bandwidth memories, timing technology solutions, and programmable microcontrollers. More information about Cypress is accessible online at www.cypress.com.

About Avnet Cilicon

Avnet Cilicon is the semiconductor distribution specialist division of Avnet Electronics Marketing in the Americas. Avnet Cilicon combines semiconductor expertise, technical excellence and deep market knowledge to enhance time to revenue for all supply-chain partners in the electronics arena. Avnet Cilicon's core competencies include materials management, technical support through Avnet Design Services, logistics support through Avnet IMS and customer-centric, dedicated sales channels. To learn more about Avnet Cilicon's capabilities please visit http://www.cilicon.com or call 800/408-8353

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements herein that are not historical facts are "forward-looking statements" involving risks and uncertainties, including but not limited to: the effect of global economic conditions, shifts in supply and demand, market acceptance, the impact of competitive products and pricing, product development, commercialization and technological difficulties, and capacity and supply constraints. Please refer to Cypress's Securities and Exchange Commission filings for a discussion of such risks.

Note to Editors: Cypress and the Cypress logo are registered trademarks of Cypress Semiconductor Corporation. "Connecting From Last Mile to First Mile" and "Cypress Connects" are trademarks of Cypress. All other trademarks are the property of their respective owners.