Cypress Strongly Affirms Commitment to SRAM Market

Cypress Semiconductor Corp. (NASDAQ: CY), the established SRAM industry leader, today affirmed its commitment to the market with the announcement of strategic investments in new product development and manufacturing.

The investment in new product development centers on the next generation of high-performance synchronous SRAMs, vital to the performance of high-speed networking equipment. Cypress is now sampling QDRII+ Xtreme SRAMs announced with the QDR Consortium earlier this year, and is investing to extend the QDR architecture with new products in 2012. Cypress has also completed a major capacity expansion with a foundry partner that triples capacity for its advanced 65-nm SRAM products with very low lead-times. In addition Cypress is also investing in a new wafer manufacturing process technology and expanding its patented “autoline” packaging and test capability that dramatically cut Cypress’s packaging time and cost.

Cypress’s investment is part of its long-term product strategy and is unparalleled in the industry. In recent years, numerous suppliers have either de-emphasized or exited the SRAM market, including reports from a number of customers that they have recently received end-of-life notices from Samsung Electronics informing them that Samsung will complete final shipments for all synchronous SRAMs by the end of 2012.

“Cypress’s first product launched almost 30 years ago was a 1-kilobit SRAM, and from that point on we have never wavered from our commitment to our customers,” said T.J. Rodgers, President and CEO of Cypress. “At a time when the actions of SRAM suppliers are causing valid concerns among customers about their supply and development roadmaps, it is appropriate for Cypress to further invest in the SRAM market and continue to support our customers for the long term.”

“Our commitment to the market has been rewarded, as our SRAM business is now the unquestioned industry leader,” Rodgers said. “Our promise to customers is to continue to provide the broadest SRAM portfolio with leading-edge technology, clear roadmaps to future generations of products, and superior quality and delivery.”

“By continuing to invest strategically in the market, we are assuring our customers that we will support their efforts to provide new generations of higher-performance equipment to keep up with expanded data networking requirements across the globe that are not abating,” said Dana Nazarian, Executive Vice President of Cypress’s Memory Products Division. “SRAMs continue to provide clear performance advantages over other memory technologies.”

About Cypress

Cypress delivers high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and exceptional system value. Cypress offerings include the flagship PSoC® programmable system-on-chip families and derivatives such as PowerPSoC® solutions for high-voltage and LED lighting applications, CapSense® touch sensing and TrueTouch® solutions for touchscreens. Cypress is the world leader in USB controllers, including the high-performance West Bridge® solution that enhances connectivity and performance in multimedia handsets. Cypress is also a leader in high-performance memories and programmable timing devices. Cypress serves numerous markets including consumer, mobile handsets, computation, data communications, automotive, industrial and military. Cypress trades on the NASDAQ Global Select Market under the ticker symbol CY. Visit Cypress online at www.cypress.com.

Statements made in this release that are not historical in nature and that refer to Cypress plans and expectations for the future, including but not limited to Cypress’s future investment in the SRAM market and its manufacturing capacity, its plans to expand its autoline manufacturing technology, its ability to provide the broadest SRAM portfolio with leading-edge technology and deliver new generations of high-performance equipment that will satisfy customer needs as well as the other objectives set forth above are forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Our actual results may differ materially due a variety of factors, including but not limited to our ability to continue to produce SRAM that satisfy the needs of the market, our ability to maintain the breadth of our portfolio, the actions of our competitors, whether or not our customers adopt our next generation products and solutions as well as the risks identified in our filings with the Securities and Exchange Commission. All forward-looking statements included in this release are based upon information available to Cypress as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statement. We use words such as “anticipates,” “believes,” “expects,” “future,” “look forward,” “planning,” “intends” and similar expressions to identify such forward-looking statements.

Cypress, the Cypress logo, PSoC, PowerPSoC, CapSense, TrueTouch and West Bridge are registered trademarks of Cypress Semiconductor Corp. All other trademarks are property of their owners.

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