Vitesse Receives Approval on Consent Solicitation

Business Wire, Sept 25, 2007

CAMARILLO, Calif. -- Vitesse Semiconductor Corporation (Pink Sheets:VTSS) today announced that it has received the required consents from the bondholders to amend the indenture governing the Company's 1.5% Convertible Subordinated Debentures Due 2024 (the "Debentures").

In the amendment, the bondholders will instruct the Trustee to agree to rescind and annul the previous asserted acceleration of the Debentures and any Events of Default asserted in connection with that asserted acceleration. Additionally, it provides that the Company's failure to file its required reports with the Securities and Exchange Commission will not be a Default or Event of Default under the Indenture prior to the earlier of (A) the date on which the Company gives notice to the Trustee under the indenture that it has filed all its required reports with the Securities and Exchange Commission for a period of 12 consecutive months and (B) December 31, 2012. As part of this amendment, the interest payable of the Debentures on October 1, 2007 only will be increased by $20.00 per $1,000 principal amount of the Debentures.

"We are pleased to receive bondholder approval for the amendment. This is one clear example of the deliberate actions we are taking as part of our restatement and reaudit plan. As stated during the July 2007 investor call, our goal is to present complete audited financial statements for years 2007 and 2006 by the first quarter of calendar year 2008," said Christopher R. Gardner, chief executive officer of Vitesse.

About Vitesse

Vitesse designs, develops and markets a diverse portfolio of high-performance, cost-competitive semiconductor solutions for communications and storage networks worldwide. Engineering excellence and dedicated customer service distinguish Vitesse as an industry leader in Gigabit Ethernet LAN, Ethernet-over-SONET, Fibre Channel, Optical Transport, and other applications. Vitesse innovation empowers customers to deliver superior products for Enterprise, Access, Metro, and Core applications. Additional company and product information is available at www.vitesse.com.

Vitesse is a registered trademark in the United States and/or other jurisdictions of Vitesse Semiconductor Corporation. All other trademarks or registered trademarks mentioned herein are the property of their respective holders.

Safe Harbor

Statements made in this release that are not historical facts are "forward-looking" statements (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties and are subject to change at any time. These forward-looking statements may include, but are not limited to, statements containing words such as "anticipate," "believe," "plan," "estimate," "expect," "hope," "intend," and similar expressions. Factors that could cause actual results to differ are identified in the public filings made by Vitesse with the Securities and Exchange Commission and include the fact that we have disclosed that you should not rely upon our published financial statements and the fact that we have not filed all of our reports required by the Securities Exchange Act of 1934. More information on factors that could affect our business and financial results are included in our public filings made with the Securities and Exchange Commission, which are available on the web site of the Securities and Exchange Commission, www.sec.gov.

The forward-looking statements involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control. We caution investors that any forward-looking statements made by us are not guarantees of future performance. We disclaim any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements to reflect future events or developments.