SpatialNews Press Release

SiRF Technology and Conexant Combine Global Positioning System Businesses

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NEWPORT BEACH, Calif., July 2, 2001--SiRF Technology Inc. of San Jose, Calif., a leading developer of global positioning system-enabled location technology, and Conexant Systems, Inc. (Nasdaq:CNXT), a worldwide leader in semiconductor system solutions for communications applications, today announced the signing of a definitive agreement under which SiRF will obtain assets relating to the global positioning system (GPS) business of Conexant.

Under the terms of the agreement, Conexant's GPS assets, including intellectual property, will be contributed to SiRF in exchange for stock in SiRF, currently a privately held company. As a part of the agreement, Conexant will receive certain license rights to SiRF's GPS technology, and will retain rights to Conexant-developed GPS technology for use in mobile communications applications.

The closing of the transaction is subject to regulatory approval, approval by SiRF's stockholders and other customary closing conditions.

This business combination bolsters the core technology-development team at SiRF and provides SiRF with complementary products, technologies, intellectual property and a customer base to significantly enhance its position in the rapidly growing GPS consumer and automotive market segments.

"As a leader in the GPS market, part of our corporate strategy is to continuously expand our location technologies and expertise," said Jackson Hu, president and chief executive officer of SiRF.

"Conexant has a long history of innovations and excellence in the GPS industry, so this is an excellent match for us. The strength of the Conexant GPS team is one of the most attractive benefits of this agreement, and we look forward to their continuing contributions."

"SiRF has remained steadfastly committed to the GPS marketplace since its inception, as evidenced by their leadership position in location technology," said Moiz Beguwala, senior vice president and general manager of Conexant's Wireless Communications Division.

"Conexant has shared this commitment for more than two decades. We believe this combination of assets will create an outstanding pure-play GPS-enabled location technology company with the necessary focus and resources to develop leading-edge products that will benefit the location-services marketplace.

"This agreement also allows Conexant to concentrate its efforts on strategic wireless-design activities, while delivering enhanced GPS functionality to our cellular customer base."

"Both SiRF and Conexant share the vision of delivering location-awareness to consumers by integrating GPS into an increasingly wide variety of innovative mobile devices to help make the world a safer, more convenient place," said Kanwar Chadha, SiRF founder and vice president of marketing.

"The complementary customer base and strong product technologies that result from our union should accelerate our mission and enhance our ability to deliver market leading products to our customers in a timely manner."

SiRF plans to retain all of Conexant's GPS employees, and will establish offices in Newport Beach, and Cedar Rapids, Iowa, where Conexant's GPS employees are currently located. SiRF will support acquired GPS chip-set product lines and continue delivering these products to customers.

Conexant's GPS module customers will continue to receive support from Conexant's Time-To-Market module systems solutions organization.

About SiRF SiRF Technology develops and markets semiconductor and software products that are designed to enable location awareness in high-volume mobile consumer devices and commercial applications. Location awareness refers to the ability of a device to determine and make use of the information regarding its location.

SiRF's products enable a range of devices to utilize GPS to detect location and have been integrated into mobile consumer devices, such as automobile navigation systems, GPS-based portable computing peripherals and handheld GPS navigation devices, and into commercial applications, such as property tracking devices and fleet management systems.

SiRF markets and sells its products in four target markets: wireless handheld, automotive, portable computing and embedded consumer applications. Learn more about SiRF at www.sirf.com.

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 digital infotainment, personal imaging, wireless communications and personal computing products that are used in mobile communications and the broadband digital home. Mindspeed Technologies is focused on Internet infrastructure products including WAN transport, multiservice access and broadband access for applications that extend from the edge of the Internet all the way to its optical core.

Conexant is headquartered in Newport Beach, Calif. and delivered revenues of $2.1 billion for fiscal 2000. The company is a member of the S&P 500 and NASDAQ-100 indices. To learn more, visit us at www.conexant.com.

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Jul 2, 2001 Jun 26, 2002