Mindspeed Reports Inducement Equity Grant Under NASDAQ Listing Rule 5635(c)(4)

Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today announced that on August 18, 2010, the Compensation and Management Development Committee of its Board of Directors granted Alex Aali, Mindspeed’s new director of marketing, customer premises equipment (CPE), an award of stock options for 12,000 shares of Mindspeed common stock, and an award of 3,500 shares of restricted stock. The stock options will vest 25% on each one year anniversary of the grant date and have an exercise price of $6.52, which was the closing price of Mindspeed’s common stock on the date of grant. The option grant has an expiration date of August 18, 2018. The restricted stock grant will vest 25% on August 1, 2011 and 25% each one year anniversary thereafter.

Mr. Aali joins Mindspeed from Exar Corporation where he was director of marketing and was responsible for the company’s Hifn technology line of applied service processors. Prior to Exar, Mr. Aali served in a variety of management, marketing and business development roles at industry-leading semiconductor companies, including Intel Corporation, National Semiconductor Corporation, Broadcom Corporation and Marvell Technology Group Ltd. His experience includes managing product definition, strategic planning, new product introduction and driving both design wins and revenue growth. Mr. Aali received a bachelor’s degree in electrical engineering from The University of Kansas and a master’s degree in business administration from Santa Clara University.

“With over 25 years of semiconductor industry experience, Alex is a great addition to the Mindspeed team,” said Thomas J. Medrek, senior vice president and general manager of Mindspeed’s communications convergence processing (CCP) business unit. “We believe Alex will be instrumental in identifying market opportunities, defining new products, managing our OpenMind™ collaborations and driving new customer relationships.”

Mindspeed’s Compensation and Management Development Committee, which is comprised solely of independent directors, approved the grant of stock options and shares of restricted stock pursuant to stand-alone option and restricted stock agreements and in accordance with NASDAQ Listing Rule 5635(c)(4).

About Mindspeed Technologies

Mindspeed Technologies, Inc. designs, develops and sells semiconductor solutions for communications applications in the wireline and wireless network infrastructure, which includes today's separate but interrelated and converging enterprise, broadband access, metropolitan and wide area networks. Our products are classified into three focused product families: communications convergence processing, high-performance analog and wide area networking communications. Our products are sold to original equipment manufacturers (OEMs) for use in a variety of network infrastructure equipment, including voice and media gateways, high-speed routers, switches, access multiplexers, cross-connect systems, add-drop multiplexers, digital loop carrier equipment, IP private branch exchanges (PBXs), optical modules, broadcast video systems and wireless basestation equipment.

To learn more, visit us at www.mindspeed.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include statements regarding the company's expectations, goals or intentions, including, but not limited to, Mr. Aali’s ability to identify market opportunities, define new products, manage collaborations and drive new customer relationships. These forward-looking statements are based on management's current expectations, estimates, forecasts and projections about the company and are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated in the forward-looking statements. These risks and uncertainties include, but are not limited to: fluctuations in our operating results and future operating losses; worldwide political and economic uncertainties and specific conditions in the markets we address; constraints in the supply of wafers and other product components from our third-party manufacturers; fluctuations in the price of our common stock; cash requirements and terms and availability of financing; loss of or diminished demand from one or more key customers or distributors; our ability to attract and retain qualified personnel; doing business internationally and our ability to successfully and cost effectively establish and manage operations in foreign jurisdictions; pricing pressures and other competitive factors; successful development and introduction of new products; lengthy sales cycles; order and shipment uncertainty; our ability to obtain design wins and develop revenues from them; the expense of and our ability to defend our intellectual property against infringement claims by others; product defects and bugs; business acquisitions and investments; and our ability to utilize our net operating loss carryforwards and certain other tax attributes. Risks and uncertainties that could cause the company's actual results to differ from those set forth in any forward-looking statement are discussed in more detail under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's Quarterly Report on Form 10-Q for the quarter ended July 2, 2010, as well as similar disclosures in the company's subsequent SEC filings. Forward-looking statements contained in this press release are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Mindspeed Technologies, Inc. (MM) (NASDAQ:MSPD)
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