Kirk Pond to Retire as Chairman of the Board of Fairchild Semiconductor; Will Continue to Serve as a Director

Business Wire, March 14, 2006

SOUTH PORTLAND, Maine -- Fairchild Semiconductor announced today that Kirk P. Pond, the company's former CEO and current chairman, would retire from the chairman's post at the company's annual stockholders' meeting on May 3, 2006. The company said that immediately following the stockholders' meeting the board of directors will select a new chairman who meets New York Stock Exchange requirements of an independent director.

Pond, who led the successful management buyout of Fairchild from National Semiconductor in 1997, retired as President and CEO last year but remained chairman.

"Kirk has been a driving force behind the growth of Fairchild into a world-class company and one of the leading power semiconductor suppliers," said Charles M. Clough, chairman of the Nominating and Governance Committee of Fairchild's board of directors. "Pond has helped build a strong foundation for our new CEO, Dr. Mark Thompson, to build upon."

Pond will continue as a member of the company's board of directors.

"I am very supportive of the board's efforts to transition to the next generation of management as well as electing a new chair in May," said Pond. "It has been an honor to have been a part of the growth of Fairchild. We have a great company with a rich heritage. Many fine people have contributed to our success and will be critical to our success in the future. It has been my honor to have worked with many of these people for more than 20 years. I look forward to a growing future for the company."

About Fairchild Semiconductor:

Fairchild Semiconductor (NYSE: FCS) is the leading global supplier of high-performance power products critical to today's leading electronic applications in the computing, communications, consumer, industrial and automotive segments. As The Power Franchise(R), Fairchild offers the industry's broadest portfolio of components that optimize system power. Fairchild's 9,000 employees design, manufacture and market power, analog & mixed signal, interface, logic, and optoelectronics products. Please contact us on the web at www.fairchildsemi.com.