Palmchip Corporation Appoints John Cobb as Chief Financial Officer

SAN JOSE, Calif.--(BUSINESS WIRE)--Nov. 15, 2000--Palmchip Corporation, a developer of configurable semiconductor IP (intellectual property) platforms for embedded SOC (system-on-chip) integrated circuits, today announced the appointment of John Cobb to the position of chief financial officer. Bringing more than twenty years of finance and management experience, Mr. Cobb will report directly to Palmchip president and CEO, Jauher Zaidi. In this role, Mr. Cobb will direct and oversee Palmchip's long-term financial plans and interface with the financial and investment communities. In addition, he will manage the company's facilities, information technology and legal departments.

``John's numerous years in finance and management, particularly within the high-technology industry, will provide tremendous value to Palmchip as the company continues to experience significant growth,'' said Jauher Zaidi, president and CEO of Palmchip. ``He will play an instrumental role as we continue to develop and execute our financial business strategy and overall corporate objectives in the emerging semiconductor IP market space.''

Most recently, Mr. Cobb was with Quantum Corporation, a leading supplier of hard disk drives, as the chief financial officer of the Hard Disk Drive Group. During his ten years at Quantum, Mr. Cobb held various positions in finance, including controller, director of finance, and vice president of finance. Prior to Quantum, he served as a senior audit manager with Ernst and Young, and auditor with Deloitte and Touche. Mr. Cobb holds a BS degree in accounting from Villanova University.

About Palmchip

Palmchip Corporation develops and licenses configurable semiconductor IP (intellectual property) platforms for embedded SOC (system-on-chip) integrated circuits. Key target applications include networking, portable communications and computing, storage, and multimedia. The company offers general-purpose platforms that contain interfaces to today's popular embedded processors. It also offers application-ready platforms. Palmchip's IP is based on its CoreFrame® integration architecture. This technology is independent of processor, I/O or foundry, allowing designers flexibility in porting IP from any number of sources. Palmchip DirectConnect(TM) partners offer a range of third-party IP, software, and design tools that are compatible with the CoreFrame® architecture. Palmchip was established in 1996 and is today a privately held company based in San Jose, California (USA). It is a member of the Virtual Socket Interface Alliance and VCX. More information can be obtained at www.palmchip.com.

Palmchip, CoreFrame, and the palm leaf logo are registered trademarks, and PalmPak, DirectConnect, FlexiSOC and QuickConfig are trademarks of Palmchip Corporation. All other trademarks are the property of their respective owners.

Contact:

     Palmchip Corporation       Judy Dale, 408/487-9659       jdale@palmchip.com           or       Lee Public Relations       Barbara Marker, 650/363-0142       barbara@leepr.com