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Technology Stocks : IDTI - an IC Play on Growth Markets -- Ignore unavailable to you. Want to Upgrade?

To: SemiBull who wrote (11422)	8/25/2002 8:12:44 PM
From: SemiBull	Read Replies (1) \| Respond to of 11555

IDT Vice President Dave Cote Resigns Friday August 23, 7:29 pm ET SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug. 23, 2002--IDT (Integrated Device Technology, Inc., Nasdaq: IDTI), a leading communications IC company, today announced that Dave Cote, 48, has resigned his position as vice president of Communications ASSPs and Worldwide Marketing, citing a desire to "explore new opportunities to run my own company." Cote will aid in the transition of his responsibilities over the next several months, including assisting President and CEO-elect, Greg Lang and CFO Alan Krock in business development activities. "Dave was instrumental in repositioning IDT as a communications IC company, defining our integrated communications processor strategy, and building our marketing engine," said Jerry Taylor, IDT's CEO. "While we are sorry to see him go, we wish Dave future success and thank him for his strong commitment to excellence over the past five and a half years of service." About IDT IDT enhances the global network with semiconductor solutions for communications companies that lead innovation and drive convergence in voice, data and wireless networks. IDT is focused on enhancing system bandwidth with communications-specific products including IP co-processors, integrated communications processors and telecom products. The portfolio is also comprised of key foundational products optimized for communications applications, including the industry's broadest selection of FIFOs, multi-ports, and clock management products. In addition, the product mix includes high-performance digital logic and high-speed SRAMs to meet the requirements of leading communications companies. Headquartered in Santa Clara, Calif., the company employs approximately 3,500 people worldwide and has a wafer manufacturing facility in Oregon, and test and assembly facilities in the Philippines and Malaysia. IDT stock is traded on the Nasdaq Stock Market® under the symbol "IDTI." The company is included in the S&P 1000, which is a combination of the S&P MidCap 400 and S&P SmallCap 600 Indices, as well as the Nasdaq-100 Index® (NDX), which includes the largest non-financial companies on the Nasdaq Stock Market. Additional information about IDT is easily accessible at www.idt.com or on CD-ROM by calling 800/345-7015. The investor hotline is 408/654-6420. Forward-looking statements in this release involve a number of risks and uncertainties including, but not limited to, product demand, manufacturing capacity and costs, competition, pricing, patent and other intellectual property rights of third parties, timely development and supply of new products and manufacturing processes, availability of capital, cash flow and other risk factors detailed in the Company's Securities and Exchange Commission filings. Actual results may differ materially from the Company's projections. -------------------------------------------------------------------------------- Contact: IDT Darlene Perry, 408/492-8622 (Press Contact) darlene.perry@idt.com Investor Relations, 408/654-6420 ir@idt.com