Mindspeed™ Participates in World's Largest Multi-Vendor
10 Gigabit Ethernet Interoperability Demonstration

Mindspeed's M27205 10-Gigabit SkyRail™ SerDes Transceiver Interoperates with Devices from Optillion, JDS Uniphase and Velio Through Eight Layers of Connectors, FR-4 Trace and 10 Kilometers of Optical Fiber In 10GEA Demonstration

Las Vegas, Nevada, May 7, 2002 - Mindspeed Technologies, the Internet infrastructure business of Conexant Systems, Inc. (Nasdaq: CNXT), today showcased its M27205 SkyRail serializer/deserializer (Ser/Des) in the world's largest 10 Gigabit Ethernet live interoperability demonstration at NetWorld+Interop 2002 in Las Vegas. Conducted by the 10 Gigabit Ethernet Alliance (10GEA) in booth #6225, the demonstration included 10 Gigabit Attachment Unit Interface (XAUI) devices from eleven different vendors.
The Mindspeed M27205 SkyRail Ser/Des exchanged the IEEE 802.3ae-approved Continuous Random Pattern (CRPAT) over an entire 10-Gigabit Ethernet network pathway including eight layers of connectors. The pathway consisted of the M27205 SkyRail connected through XAUI over FR-4 to an Optillion TOP 3010 long reach (LR) XENPAK optical transceiver, then routing over 10 kilometers of optical fiber to a JDS Uniphase 10GE-LR XENPAK transceiver, and then back through FR-4 over XAUI to a Velio VC1003 DataEOSTM Octal SerDes device.
"This landmark demonstration of XAUI interoperability clearly indicates that 10 Gigabit Ethernet is ready for real-world applications. Mindspeed has participated in every XAUI interoperability test since August 2001 and we are excited to join other
vendors in demonstrating to customers that we are ready to supply the products to make 10 Gigabit Ethernet networking a reality," said John Giddings, product manager for Mindspeed.
In other independent tests, Mindspeed has successfully tested interoperability of the M27205 with the Agilent 10Gbase-LR XENPAK transceiver, Molex MuxLinkTM 10GBASE -LX4 XENPAK transceiver, and the OpNext TRE5021EN XENPAK transceiver driving CRPAT, CJPAT and PRBS to XENPAK with a 10km fiber loopback.
The M27205 SkyRail transceiver is the industry's most robust quad SerDes transceiver designed for 10-Gigabit Ethernet applications and is fully compliant with IEEE 802.3ae draft 4.2. The M27205 is a 10 Gigabit Ethernet PHY device that is used to extend the reach of the media access controller (MAC) by converting the 10 Gigabit Media Independent Interface (XGMII) to XAUI. With data rates up to 3.4 Gbps per channel, high-speed XAUI redundancy, traffic monitoring, and low jitter, the M27205 meets the high-performance and high-reliability demands of carrier-class 10 Gigabit Ethernet equipment.

About XAUI
XAUI is a low-pin-count electrical interface that consists of four differential channels called "lanes" operating at 3.125 Gbps each to provide an aggregate raw bandwidth of 12.5 Gbps, or 10 Gbps of Ethernet data. XAUI was defined to extend the optical module system interface reach inside a network element up to 20 inches through a standard FR-4 board and two connectors. The strong market interest in a low-cost, high-bandwidth technology is leading to a strong inclination of multiple vendors to implement 10 Gigabit Ethernet in enterprise backbone and metropolitan area network routers and switches.

About 10 Gigabit Ethernet
Positioned as a high-speed, unifying technology for networking applications in local-area networks (LANs), metropolitan-area networks (MANs), and wide-area networks (WANs), 10 Gigabit Ethernet will provide simple, high bandwidth at relatively low cost. In LAN applications, 10 Gigabit Ethernet will enable organizations to scale their packet-based networks from 10 Mbps to 10,000 Mbps, thereby leveraging their investments in Ethernet. In MAN and WAN applications, 10 Gigabit Ethernet will enable service providers and others to create extremely high-speed links at very low cost.

About the 10 Gigabit Ethernet Alliance (10GEA)
The 10 Gigabit Ethernet Alliance was organized to facilitate and accelerate the introduction of 10 Gigabit Ethernet into the networking market. It was founded by networking industry leaders: 3Com (NASDAQ: COMS), Cisco Systems (NASDAQ: CSCO), Extreme Networks (NASDAQ: EXTR), Intel (NASDAQ: INTC), Nortel Networks (NYSE: NT), Sun Microsystems (NASDAQ: SUNW), and World Wide Packets. Additionally, the Alliance supports the activities of IEEE 802.3 Ethernet committee, fosters the development of the 802.3ae (10 Gigabit Ethernet Standard), and promotes interoperability among 10 Gigabit Ethernet products. For more information, visit their web site at www.10gea.org.

About Agilent SPG
Agilent's Semiconductor Products Group is the world's No. 1 optoelectronics semiconductor supplier, and is the No. 1 supplier of fiber optic transceivers. Agilent also designs and manufacturers radio frequency and infrared devices for mobile communications, image sensors and processors for cameras and optical computer mice, controller ICs and optics for storage area networks, and application specific ICs for select networking and imaging applications. Agilent is leading the way in bringing 10 Gigabit Ethernet products to market, having co-developed the XENPAK MSA for 10 GbE fiber optic transceivers. The company is also a major contributor to the 10 GbE IEEE802.3ae standard. Information about Agilent's Semiconductor Products Group is available on the Web at www.agilent.com/semiconductors.

About Molex
Molex Fiber Optics, a division of Molex Incorporated (NASDAQ: MOLX), is a leading supplier of advanced fiber optic components. Molex's extensive product offering includes a full range of active and passive interconnect solutions serving the Telecommunication and Data communication markets. The Company's technologically advanced manufacturing facilities ensure designed-in reliability, quality performance and faster time-to-market response for customer designed products. For more information on Molex Fiber Optics, visit www.molex.com/fiber or www.molex.com.

About OpNext
OpNext, Inc. is a global leader in high-performance optical networking components, including laser diode modules, transmitters and receivers, and optical transceivers. Formed from Hitachi Ltd.'s fiber optic components business unit, OpNext brings over 30 years experience to the design, development and manufacture of high-performance components that drive today's high-capacity optical networks. OpNext recently received the prestigious Cisco Technology Supplier of the Year Award, in recognition of its customer service. For additional information, see the OpNext Web site at www.opnext.com.

About Optillion
Optillion (www.optillion.com) designs, develops, and manufactures transceivers for 10 Gb/s and beyond. The carrier grade, hot-swappable transceivers for the enterprise and metro market enable the build-out of new communication services. The transmission capacity of Optillion's first transceivers is 10 Gbit/s Ethernet. Optillion employs experts in high-speed electronics, high-speed optics, automated manufacturing and encasing. The company currently employs 108 people, 28 of which hold PhDs. Optillion is a principal member of the 10 Gbit/s Ethernet Alliance and active in industry form factor alliances. Optillion's investors include ITACT, Crescendo Ventures, Cisco Systems and Investor AB via Investor Growth Capital, its venture capital company.

About Velio
Velio is a leading provider of high bandwidth/low power semiconductors that solve the intra-system communications challenges faced in the architecture of next generation communications and storage platforms. Founded in 1998, Velio has achieved more than 50 design wins and is shipping for revenue its backplane SerDes, Crosspoint Switch and STS-1 Grooming Switch with Tier One and Tier Two customers in telecom, datacom and storage markets. Venture funded by leading firms such as Sequoia Capital, Redpoint Ventures and Capital Research Group, Velio is headquartered in Milpitas, Calif., and has design centers in Lowell, Massachusetts, Chapel Hill, North Carolina and Princeton, New Jersey. For more information on Velio Communications, visit www.velio.

Safe Harbor Statement
This press release contains statements relating to future results of Conexant (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: maintaining a consistent and reliable source of energy; global economic and market conditions, such as the cyclical nature of the semiconductor industry and the markets addressed by the company's and its customers' products; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; the availability and extent of utilization of manufacturing capacity; pricing pressures and other competitive factors; changes in product mix; fluctuations in manufacturing yields; product obsolescence; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the successful separation of the Company's Internet infrastructure and personal networking businesses; the ability to attract and retain qualified personnel; labor relations of the company, its customers and suppliers; and the uncertainties of litigation, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings. These forward-looking statements 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. Other brands and names contained in this release are the property of their respective owners.

About Conexant
Conexant Systems, Inc. is a worldwide leader in semiconductor system solutions for communications applications. Conexant leverages its expertise in mixed-signal processing to deliver integrated systems and semiconductor products through two separate businesses: Conexant and Mindspeed Technologies.
Conexant's personal networking business is focused on wireless communications, digital infotainment and personal computing products that are used in mobile communications and the broadband digital home. Mindspeed Technologies designs, develops and sells a complete portfolio of semiconductor networking solutions that facilitate the aggregation, transmission and switching of data, video and voice from the edge of the Internet to linked metropolitan area networks and long-haul networks.
Conexant, headquartered in Newport Beach, Calif., delivered revenues of $1.1 billion for fiscal 2001, and has approximately 6,900 employees worldwide. The company is a member of the S&P 500 and Nasdaq-100 indices. To learn more, visit us at www.conexant.com or www.mindspeed.com.

Safe Harbor Statement
This press release contains statements relating to future results of Conexant (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: maintaining a consistent and reliable source of energy; global economic and market conditions, such as the cyclical nature of the semiconductor industry and the markets addressed by the company's and its customers' products; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; the availability and extent of utilization of manufacturing capacity; pricing pressures and other competitive factors; changes in product mix; fluctuations in manufacturing yields; product obsolescence; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the successful planned disposition of certain assets; the successful separation of the Company's Internet infrastructure and personal networking businesses; the successful merger of the Company's wireless business with Alpha Industries, Inc.; the ability to attract and retain qualified personnel; labor relations of the company, its customers and suppliers; and the uncertainties of litigation, as well as other risks and uncertainties, including but not limited to the security and safety risks of our employees and of Company facilities and those risks and uncertainties detailed from time to time in the company's Securities and Exchange Commission filings. These forward-looking statements 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.

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Conexant and Mindspeed are trademarks of Conexant Systems, Inc. Other brands and names contained in this release are the property of their respective owners.

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