EXHIBIT 99.1

EXHIBIT 99.1

MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 1

MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004

MODERATOR: DR. SEHAT SUTARDJA
MAY 22, 2003
3:45 PM CT

Operator: Ladies and gentlemen thank you for standing by. Welcome to
the Marvell Technology Group First Quarter Fiscal Year
2004 conference call.

During the presentation all participants will be in a
listen-only mode. After the presentation you will be
invited to participate in the question and answer session.
At that time we ask all participants to please limit
themselves to one question to allow time for others.

This conference call is being recorded on Thursday, May
22, 2003. I will now turn the conference call over to
Co-Chairman and Chief Executive Officer of Marvell
Semiconductor, Dr. Sehat Sutardja. Please go ahead doctor.

Sehat Sutardja: Thank you (Paul). Welcome everyone to our First Quarter
Fiscal Year 2004 conference call. Weili Dai, Executive
Vice President of the Communications Business Group, and
George Hervey, Vice President of Finance and Chief
Financial Officer, are joining me on this call.

By now I am sure that everyone is totally confused on the
direction of the general economy conditions. Not helping
much this past March we have


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 2

stated in our previous quarter call that we were upbeat
about this coming year yet our tone was more conservative
on the financial projections for the year.

The reason for this was because on one hand even though we
have plenty of good news to talk about such as having many
industry leading new products and solutions that our
customers need plus having the industry leaders as our
customers. At the same there was plenty of concerning news
that may offset the good news including things like the
global threat of war and more recently the concern of SARS
and potential deflation.

When I have talked to our customers in the past even they
were confused about the economy. However, more recently
many of our customers are projecting better growth ahead
even though their competitors may not be doing as well.

While this may not be the good news that everyone is
looking about, to us it is very good news indeed. Many of
our customers have been gaining market share over the past
several years and as a result even in the current
prolonged industry downturn we have been able to grow by
growing market share away from our competitors.

We are now even more encouraged that the balance of the
year will be a good one for us as during the first quarter
of this year we have seen additional improvements in our
large customer base.

Before I review the progress of business further I would
like George to provide our Safe Harbor Statement and the
review of our Q1 financials.

George Hervey: Thank you Sehat. Good afternoon ladies and gentlemen. I'd
like to remind all participants that the following
dialogue will contain predictions, estimates,


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 3

and other forward-looking statements covering subjects
such as data storage, communications market trends,
competition, customers, suppliers, products and demand,
revenue growth, gross margin expectations, operating
expenses, other income, accounts receivable, and
inventory. Such statements may be preceded by the words
like expects, anticipates, believes, should, will, may, or
words with similar import.

The following factors among others could cause actual
results to differ materially from those described in the
forward-looking statements. They include the inability to
further identify, develop, and achieve success for new
products, services and technologies, increased competition
and its affect on pricing, spending, third party
relationships and revenues as well as the inability to
establish and maintain relationships with commerce,
advertising, marketing, and technology providers.

We direct your attention to our annual report on Form
10-K, quarterly reports on Form 10-Q, current reports on
Forms 8-K, and other Securities & Exchange Commission
filings all of which discuss other important risk factors
that may affect our business, results of operations, and
financial condition.

Please be reminded that we undertake no obligation to
revise or update publicly any forward-looking statement
for any reason.

Now moving to the Q1 financials. Marvell reports net
income/loss and basic and diluted net income/loss per
share in accordance with GAAP and additionally on a
non-GAAP basis referred to as proforma.

Marvell's management believes that non-GAAP information is
useful because it can enhance the understanding of the
company's ongoing economic


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 4

performance. And Marvell therefore uses proforma reporting
internally to evaluate and management the company's
operations.

Marvell has chosen to provide this information to
investors to enable them to perform comparisons of
operating results in a manner similar to how the company
analyses its operating results.

Today we reported that net revenue for the first quarter
of fiscal year 2004 was a record $168.3 million, an
increase of 70% over the $98.8 million reported for the
comparable quarter in fiscal year 2003 and a sequential
increase of 12% from the fourth quarter of fiscal year
2003.

Proforma net income -- which excludes the effect of
acquisition related expenses, amortization of stock based
compensation, and charges related to facilities
consolidation -- was $24.5 million or 19 cents per share
diluted for the first quarter of fiscal year 2004 compared
with proforma net income of $10.5 million or 8 cents per
share diluted for the first quarter of fiscal 2003.

Shares used in computing proforma earnings per share
diluted for the first quarter of 2004 were $129.6 million
compared to $132.5 million shares for the first quarter of
2003.

This quarter we achieved an important milestone. Net
income on the Generally Accepted Accounting Principles --
GAAP -- was $4.4 million or 3 cents per share diluted.
This represents our first quarter of GAAP profitability
since our acquisition of Galileo Technology Limited in the
fourth quarter of fiscal 2001.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 5

We have provided on our website in the Investors section
at www.marvell.com a reconciliation of GAAP net income or
loss to proforma net income for the quarter reported to
date plus the prior eight quarters.

Now I'd like to turn the call back to Sehat for comments
on our business outlook.

Sehat Sutardja: Thank you George. One question that I keep getting all
the time is, how is it possible that Marvell continues to
grow so much faster than the rest of industry. It is one
thing to be able to do this when Marvel was a small
company a few years back. Sooner or later the law of large
numbers will start to affect our growth rate.

I agree. However, it's all relative. Many of the market
segments that we address are very large in dollar size. So
that even though our revenues are considerable when
compared to other businesses we have only barely scratched
the surface.

Remember Marvell is only an eight year old company. One
thing that you should realize is that as a young company
we were initially forced to nibble at smaller business
opportunities that were so much more challenging to
address.

As we are maturing as a company and have entered the more
mainstream markets we have consistently raised the
technology bar enabling our customers to improve their
products as well as presenting a formidable competitive
challenge for other suppliers in those markets.

As we have proven ourselves over time to be the leading
player in the market segments that we have addressed, we
are now seeing significant opportunities that were
previously not available to us.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 6

In fact some very large professional customers are seeking
to work with us as they have seen the technology and
products we have delivered to the competitors are truly
state of the art and we actually have a lower risk
(unintelligible) compared to the existing supplier base.

On top of that many of our customers and potential new
customers have realized that despite the fact that the end
products they build may be considered commodities due to
the large volume nature of the market the underlying
technology that we provide is beyond state of the art.

We are already seeing fewer and fewer companies can
address this market. In both the storage and communication
markets we are now providing more complete solutions from
single chip devices to (unintelligible) chip set solutions
with device drivers and application software support
packages.

Our relationships with our customers have grown from just
a supplier and customer model to a more long term
partnership model. This a very exciting time for us
indeed.

Many of our customers are actively working with us to
address new market segments or market segments that they
have not previously addressed so that they can grow their
businesses beyond the traditional market segments.

As we provide them with the necessary tools and solutions
to address these new markets we are optimistic about our
future growth and also growth rate over the next several
years.

Many of the technologies that we have developed during in
the past eight years of our existence provide key
foundations on which we will build our


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 7

future. Our storage (unintelligible) solutions incorporate
the industry leading highest rechannel devices together
with the industry highest performance imbedded
(unintelligible) processor and many other must-have
features including the future serial ATA 1 and 2
capabilities.

Our gigabit Ethernet devices incorporate our patented
virtual cable tester feature which allows network
providers to perform remote diagnostics at the customer's
site thus lowering the cost of supporting the end user
communication infrastructure.

Our wireless LAN 802.11 solutions are designed to
specifically handle severe multi-path distortion found in
home environments assuring consistent quality of service.
This technology is absolutely a must for distributing
video and audio content throughout the home using wireless
LAN technology.

Our wireless LAN products have also been designed
specifically to consume less power so that they can be
more useful for light battery operation.

In summary we don't just build products to meet industry
specifications but more importantly we build products to
work in real world conditions. With so many business
opportunities emerging over the last year we have expanded
our design centers throughout the world. We now have
design centers in California, Colorado, Israel, Singapore,
Germany, and Japan to better serve our customers. Even
during the downturn we have aggressively expanded our
design team.

With a combined work force of about 1,400 people we
probably have one of the largest engineering teams in our
business. About half of the team is working on new
products that will contribute to our future growth to
ensure the continuing rapid growth of the company.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 8

Now I would like to give you some specific updates on our
products. At the recent NetWorldInteropTrade Show we
demonstrated our 802.11g solutions, side by side with
competing solutions providing our customers the
opportunity to compare the solutions against each other in
an open public area.

To their surprise all the existing 802.11 solutions that
we benchmarked at the NetWorldInterop Show have
significant deficiencies in the coexistence operation with
the 11b solution.

In all cases existing 11g solutions actually performed no
better than the 11b solutions. We've also heard that many
earlier 11g solutions actually prevent the existing 11b
solutions from operating when these 11g solutions are
deployed giving a false impression that these defective
11g solutions are better than 11b solutions.

In the short time that we have sampled our 11g solutions
we have demonstrated high data rate 11g solutions
operating in coexistence with existing 11b solutions. We
are very excited on the performance of our 11g solutions.
Again this proves that we are not just building need to
products but products that perform better in real world
conditions.

In the gigabit networking space we continue to gain new
design wins for our Prestera silicon solutions across the
peer one customer base. At the NetWorldInterop show we
also demonstrated a two chip 48-port gigabit switch
silicon solution as well as introducing our latest family
of silicon to address not only the metro and enterprise
market that we addressed originally with our Prestera
solution but also the lower cost value line of gigabit
Ethernet switching that is expected to replace the current
value line Ethernet switching.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 9

We continue to be bullish on the gigabit market as we
continue to lead the market with more and more complete
solutions.

As to our progress in addressing the consumer space we are
happy to report that we are well on our way in the
development of several initial new products that leverage
our existing technologies to address potentially very
large market opportunities.

Our belief is that in the next few years we will see
continuing faster growths in the consumer entertainment
businesses. And we would like to make sure that we are
well prepared to address this market.

Now I would like to turn the call back to George for
additional comments regarding our Q1 financials and
forward guidance.

George Hervey: Thank you Sehat. First I'd like to make some additional
comments on our Q1 results. Our Q1 revenue of $168.3
million was a new quarterly record for the company and a
70% increase from Q1 last year.

Additionally the 12% increase in revenue from Q4 to Q1
compares very favorably to our guidance of a 7% to 9%
sequential quarterly increase in revenue.

The Q1 sequential increase of 12% represents the sixth
consecutive quarter that our sequential revenue growth has
been greater than 10%. During Q1 both our storage and
communications businesses performed well resulting in
increasing revenue for both businesses.

Entering the first quarter and reflected in our Q1 revenue
guidance was the anticipation that we would experience the
historical pattern of the first


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 10

calendar quarter of the year experiencing varying levels
of seasonality when compared to the fourth calendar
quarter.

Seasonality is most evident in the PC market and we
expected some moderate level of seasonality in Q1. As we
progressed through the quarter it became apparent that
there would be little to no seasonality during Q1. And the
business momentum improved as we exited the quarter.

In Q1 the main growth drivers for our revenue increase
remained, the continued increase of adoption gigabit
Ethernet by the PC client market, increases in production
ramps for our current SOC solutions in the desktop storage
segment as well as increasing production shipments for our
newest desktop storage opportunity.

During the quarter we also saw an increase in gigabit
Ethernet shipments for the networking infrastructure and
the initial volume shipments of our wireless 802.11b
products.

At the recent NetWorldInterop Show we displayed customer
products from NetGear and Linksys incorporating our
wireless 802.11b technology. For the quarter storage
products contributed low to mid 50% of total revenue with
communications products representing the balance.

We are very pleased with our gross margin percentage for
Q1. Q1 gross margin of 54.8% was over 100 basis points
higher than our guidance of 53.5 plus or minus 25 basis
points.

There were several factors that contributed positively to
our gross margin percentage. First as we have mentioned
during the last several calls our


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 11

manufacturing efficiency and benefits from our yield
improvement programs continue to produce very cost
effective products.

Second, our customers value the technology that we provide
to them for their products and realize that in order to
provide our high level of technology and continued product
development we must deliver them cost effective products
at reasonable prices.

Finally, product mix -- which is the largest determiner of
gross margin percentage -- was quite favorable in Q1.

Our proforma operating expense percentage continues to
decline as a percentage of revenue. And the Q1 proforma
operating expense percentage of 39% was consistent with
our guidance.

For the seventh consecutive quarter we increased our
proforma operating income percent. Our continued double
digit sequential revenue growth, strong gross margin
percentage contribution, and decreasing proforma operating
expenses as a percentage of revenue resulted in 150 basis
point increase in Q1 proforma operating income from 14.2%
to 15.7%.

The strength of our balance sheet continued to improve in
Q1. We increased our cash and short term investments by
approximately $34 million to $299 million.

DSOs for Q1 decreased to 48 days from 51 days at Q4. Our
DSOs continue to remain in the range of our guidance of
high 40s to low 50 days. DSOs are likely to remain at the
high end of our range during these periods of rapid
revenue growth.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 12

During Q1 we increased our inventory by approximately $7
million to support the current and projected growth of our
business. Our days of inventory increased from 51 days to
55 days.

We will continue to monitor our production levels going
forward with the goal of putting us in the most favorable
position to respond to increases in demand for our
products.

Now turning to the future. We have just completed our
first quarter of fiscal year 2004. And we'd like to take
this opportunity to update our guidance regarding the
financial outlook for the company for fiscal '04.

On our Q4 earnings call we discussed that entering fiscal
'04 we believe our strong product portfolio has increased
a number of major revenue opportunities and we are looking
forward to another year of significant growth.

In our storage business we expect our new desktop
opportunity to reach volume production as we progress
through the year. And serial ATA to ramp more
significantly in the second half.

In our communications business our strong design win
position with the Alaska Fi and Prestera switching
products should benefit us as gigabit Ethernet is more
widely deployed in the network infrastructure.

Based on customer feedback and design win success we
believe that our Yukon gigabit Ethernet LAN motherboard
for the PC client and our wireless 802.11b and g products
will provide us with significant revenue opportunities
during this next year.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 13

During Q1 our visibility into how these major revenue
opportunities would contribute to our fiscal '04 revenue
improved. That coupled with better visibility for our
designs that are currently in production provides us the
opportunity to achieve more revenue growth than we
anticipated entering fiscal '04.

Based on all these factors we now expect our revenue for
fiscal '04 to range between $760 million to $790 million
-- which at the mid-point is approximately a 53% growth
from fiscal '03.

For the balance of fiscal '04 we believe that our gross
margin percentage will remain above our long term model of
52% but below the Q1 level of 54.8%. And R&D and SG&A as a
percentage of revenue should continue to decline.

Now moving more specifically to Q2 '04 while we remain
cautious regarding the overall economy and potential
recovery in IT spending as I mentioned in my discussion of
Q1 we exited Q1 with significant momentum generated by our
strong market position, broad product portfolio, and
increasing number of design wins for those products.

This has resulted in our visibility for Q2 improving when
compared to our visibility entering Q1. The targeted
company revenue for Q2 to increase 10% to 12% for Q1.

The product mix of shipments in Q1 was very favorable
helping to generate the 54.8% gross margin. While we
believe that normal ASP declines will be offset by
continued reduction in our manufacturing costs the
anticipated product mix of our shipments in Q2 will be
more consistent with what we have experienced over the
last several quarters. This should result in Q2 gross
margin of 54% plus or minus 25 basis points.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 14

With our focus set on providing the technologies,
products, and building a company structure to support long
term growth, R&D and SG&A in absolute dollars will
increase in Q2 but decline approximately 100 basis points
as a percentage of revenue from Q1.

Interest and other income should remain consistent with
the Q1 level.

Now I'd like to turn the call back to Sehat.

Sehat Sutardja: Thank you George. That completes our commentary. (Paul)
would you please poll for questions. (Paul)?

Operator: Ladies and gentlemen as a reminder please press star then
the number 1 on your telephone keypad. Your first question
is from (Cody Acreen) with Legg Mason.

(Cody Acreen): Guys as always congratulations on a great quarter. Maybe
you can tell us a little bit about where you're seeing the
most strength in the outlook. Is it evenly split between
the two divisions or are you seeing one or the other
giving you the most impetus for this revision upward?

George Hervey: Well you know as we've been discussing we've been in a
number of investor conferences so far this year. And one
of the themes that we've, I think, consistently mentioned
to investors is the number of revenue opportunities for
Marvell greatly increased this year - as I kind of
outlined.

So these are all starting to have impact and, you know,
not everyone is exactly the same but they are now all
contributing. And in the back half of the year


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 15

we would expect more contribution as I mentioned from the
network infrastructure and serial ATA.

So, you know, while we're excited about all of them, you
know, they all have positive contribution and also as I
mentioned now with the better visibility also into our
existing business across a number of our products this
gives us the added, you know, encouragement to raise the
number.

(Cody Acreen): I'm sorry. Was there anything else?

George Hervey: No that's it.

(Cody Acreen): Can you talk a little bit about the decisions that are
going on in the motherboard market with this Springdale
launch. How those decisions as far as their gigabit
Ethernet usage are coming to bear and where do you think
this shakes out as far as market share for the rest of the
year?

Sehat Sutardja: Weili do you want to answer it?

Weili Dai: Yeah and as you guys know the partnership with Intel has
been extremely successful and obviously the Springdale
event again confirmed the success of this joint
partnership. And we'll be seeing this moving forward
sometime in the year, I think, that the PC
(unintelligible) will be the next wave.

As far as the conversion from fast to gig it obviously is
happening. And we continue to believe by the end of this
year the majority of the PC - for the corporate side of PC
is going to convert to gigabit.

Sehat Sutardja: I would like to add a little bit on the Springdale. If you
noticed the Springdale incorporates serial ATA so this is
a huge milestone for serial ATA. We


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 16

anticipate that by the middle of next year the majority of
the storage will move to serial ATA . And the Springdale
introduction is a huge milestone for them.

(Cody Acreen): Maybe specifically back though to the motherboard
decisions that are going on - alot of those obviously
yesterday with the launch now coming out. We're seeing you
having a solid share within those releases.

How are - I guess what is driving the decisions to use
yours versus some of the SCA - the Intel based versus some
of the competition?

George Hervey: Yeah (Cody) I don't think we want to, you know, go into a
lot of discussion about that. You know, we remain very
committed with our partner and I think, you know, that
would probably be an area that we don't want to go down.

We're very pleased, you know, with the adoption of our
technology and our partner's technology across the
platforms that were announced yesterday. I think we'll
leave it at.

(Cody Acreen): And lastly any updates on IBM and Hitachi?

George Hervey: Not that we're specifically going to discuss here. We're -
as we've mentioned there's a lot of discussions going on.
You know, we've been a key supplier to Hitachi for a
number of years and we feel good about the opportunities
that...

Sehat Sutardja: But you can assume when we said we are building long term
partnerships with our customers we really mean it. Okay?
IBMs and Hitachis are no different. We're building -
continue to build stronger and stronger relationship with
our customers.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 17

(Cody Acreen): Guys congrats and thank you again.

Operator: Again ladies and gentlemen we ask that you please limit
yourselves to one question to allow time for others. Your
next question is from (Michael Madea) with CSFB.

(Michael Madea): Great. Let me add my congratulations guys. It was a great
quarter. You guys made an interesting comment about your
first quarter - how you were expecting some seasonality
which ended up not being as seasonal as you thought.

When you look at your guidance for Q2 is that
incorporating seasonality again or are the orders so
strong that they're not looking for a seasonal account in
Q2.

George Hervey: That's hard. Based on the orders the answer would be no.
We don't see any seasonality. But I mean there could still
be some there and just because of the strength of all the,
you know, design wins that we have we may just be growing
right through that.

But I think as Sehat mentioned, you know, the commentary
from customers is getting more positive and I think so
that's giving us a lot of, you know, more positive
feelings about Q2.

(Michael Madea): Great. Just a quick follow-up if I may. Cisco has made
some aggressive moves into the gigabit Ethernet
infrastructure side driving down pricing. Are you guys
seeing that impact your business? It sounds like you might
be also. Is there any impact on ASPs and margins for you
guys? Is that starting to happen?


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 18

Weili Dai: Yeah. The entrance of the Cisco launching gigabit - we're
very excited because we are the key supporter of that
since two years ago from technology side. And as you know
as volume goes up the cost efficiency is very important
and we're ready for that too.

George Hervey: Right. I think our - we'll let our gross margins stand for
answering the part about, you know, our ability to be
competitive even in competitive markets.

(Michael Madea): Great. Thanks.

Operator: Your next question is from (Jeremy Bunting) with Thomas
Weisel Partners.

(Nevel Shaw): Hi. Good afternoon. This is (Nevel Shaw). I just wanted to
ask - George I'm not sure if you mentioned your 10%
customers this quarter.

George Hervey: No I did not do that (Nevel). It has been the trend, you
know, over the last couple of quarters with our revenue
growing as rapidly as it it's becoming a little higher bar
to become a 10% customer. So again we only have two 10%
customers in Q1 and they would be Intel and Samsung.

(Nevel Shaw): Okay. Thanks George. I wanted to ask also you guys have
been increasing your R&D expenses as you, you know, expand
into mass markets. Can you discuss where you think that
R&D as a percentage of revenue may stabilize and when you
expect that to happen. Can we expect 18% operating margin
by the end of this fiscal year?

George Hervey: We have adopted - or we're in compliance now with Reg G
and as a result - as we've discussed looking forward we're
no longer going to be in a position to speak about our
proforma operating income or our proforma EPS. We'll do


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 19

that on a historical basis only when we provide the
reconciliation in our earnings release.

I think if you look at the progress though that we have
made over the last seven quarters going from 2% now almost
to 16% it clearly gives you an indication of the path that
we're on.

(Nevel Shaw): Okay. And if I could ask one last question regarding
Prestera. You guys mentioned Nortel in your last
conference call, I believe. And when can we expect Nortel
and some of the other design wins that we've heard about
for Prestera - when do you expect volume production on
that product and, you know, real significant revenues?

Weili Dai: As far as (unintelligible) information we like to keep the
way we've been doing until our customers make an
announcement and we'll acknowledge that. But as far as
penetration for Prestera has been extremely successful.

George Hervey: And we do expect higher revenue the back half of the year
for those.

(Nevel Shaw): Okay. Thank you.

Operator: Your next question is from (Arnub Shandra) with Lehman
Brothers.

(Arnub Shandra): Thank you. And just not to basically repeat the
congratulations but move on to some of the interesting
questions. First of all could you talk a little bit about
Springdale - you were talking about, you know, some of the
design wins with your partner versus without. I think
Asustech talked yesterday - there were some products
announced.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 20

If you could talk a little bit around what time frame
should we be able to see, you know, sort of talk about
design wins or what is going on with your Yukon product
especially in the PC as well as the white box industry.

George Hervey: Well I think yesterday's action defined where the design
wins are. You know, we are - on the products that Asustech
announced yesterday through our partnership with 3Com
they're utilizing the Yukon on at least three of the
designs that I saw.

So, you know, I think you will see further potential
launches from other people. And, you know, we're moving,
you know, quite aggressively into white box market with
our partner 3Com to, you know, increase our market share.
You know, which by the way we had zero before entering
that earlier this year. So that's all new business for us.

(Arnub Shandra): Thank you. And one last question. I wanted to speak about
what - if you talk a little bit about sort of what
opportunities exist in the drive market for you beyond
this year. You talked about consumer electronics
specifically - maybe we could flesh that out a little bit
after the Western Digital transition is over what should
we be looking for from that segment? Thank you.

Sehat Sutardja: Sure (Arnub). The market for storage eventually is very
important. Storage is very important technology not just
for PCs or laptops or PCs or servers. Specifically we talk
a lot about consumers when the obvious consumer products
that will incorporate storage will be CDRs, DVD
combinations with CDRs, (unintelligible) receivers,
satellite - whether it's cable or satellite, GPS systems
for automotives, audio players like Ibox.

As the price of these devices, you know, go down, I mean,
the volumes will go up naturally. So it's - we're very
excited that by the end of this decade


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 21

probably the consumer side of the storage will be
significantly larger in market size compared to the
existing PC market. By a huge margin.

George Hervey: Significant margin, yes.

(Arnub Shandra): Thank you very much.

Operator: Your next question is from (Jim Liang) with Pacific Growth
Equities.

(Jim Liang): Thank you. Can you talk a bit about the average ASP per
port on gig-E client and expectations of that by year end?

Sehat Sutardja: I don't think we should. I'm coming to understand that
it's better for us not to talk about ASP any longer.
Because it just gives too much information for our
competitors to react.

But I will say that we are competitive. We will be the
most competitive suppliers in the market. At the same
we'll make sure that we have a fair value for our
technology which is a (unintelligible) compared to some of
our competitors.

George Hervey: I think it would also be reasonable to assume that over
time as volume increases, you know, this is semiconductor
so...

(Jim Liang): Yeah. Sure.

George Hervey: You could expect to see some normal pricing type of curve.

(Jim Liang): Right. Just a second question. Can you talk a little on
the .13 micron plans?


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 22

Sehat Sutardja: On progress. We (unintelligible). So we will - we use
whatever technologies that make sense for any given time.
So depending on which product lines, which time frame. It
also depends on the volume. We'll use different process
geometry.

But we as a company we're quite aggressive - considered
one of the most aggressive in the business in terms of
doing R&Ds on most advanced (unintelligible) geometry.

(Jim Liang): On that front as far as your foundry partner any thoughts
on potentially qualifying a second foundry partner for
some of the more mature technology nodes?

Sehat Sutardja: We do have, but we're just not talking about. So again I
would like to come from a position that if there's no
benefits for us to talk about it we'd rather, you know,
keep it simple. It gives the competitive advantage to us.

(Jim Liang): Okay. Great quarter guys.

Sehat Sutardja: Thank you.

Operator: Ladies and gentlemen please limit yourselves to one
question to allow time for others.

Your next question is from (Ambrius Surevtava) with (GKM).

(Ambrius Surevtava): Hi. Thanks. In wireless LAN it's interesting to see that
you guys are beginning to show up in some of your
competitors' largest customers. What is the expectation
for that business in terms of either in just market share
you guys could get or units you can ship.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 23

And a second quick follow-up what are you seeing in the
inventory level in the channel in the disk drive space?

Sehat Sutardja: Okay. What you've seen are just the initial success of our
wireless products. As we have said for a long time when we
entered the wireless LAN our goal - our target market is
the - the eventual target market is the consumer space.

As you'll see also from some publications that the
wireless markets are split into enterprise markets and
consumers. And consumers are the most challenging of all
to address because of the reliability and robustness
requirement especially when these products are used to
distribute videos and audios to a lesser extent and can be
used more challengely obviously.

So our goal is to be the biggest - to get a huge - a
significant market share in the consumer space. That's
where the success will be measured. Who has the best
product in this market.

But it's too early for us to talk about what that goal is.
I guess you can say that we don't go into markets there.
We don't plan to seriously compete.

George Hervey: On the storage side I think there's been a lot of
discussion, I think, on various levels of inventory. You
know, again I think it's really more asking our customers
about that than directly us. But the best way we can
measure how they're feeling about that issue is based on
the demand that they're placing on us. And that demand at
this point is pretty robust. So we're not getting any
indications that they're adjusting for any inventory
issues out there right now.

(Ambrius Surevtava): Okay. Thanks.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 24

Operator: Your next question is from Jim Jungjohann with CIBC World
Markets.

Jim Jungjohann: Hi guys. Just a customer question -- if I can get any info
out of you George -- but it sounded like Western wasn't a
10% customer. Can you kind of talk about that ramp there.
If you could give us any color on system on the chip
versus rechanneling that conversion.

And then on Intel - if just sales were up or down in the
quarter.

Any way I can get that?

George Hervey: No not really. But, you know, we don't discuss, you know,
that level of detail. I think what we would say on what
Digital is - we're excited about the opportunity we have
there. We're working with it very closely.

And we're very pleased with the progress that's been made
so far and are looking forward to, you know, additional
progress being made as we move through the rest of the
year. So it is a very significant opportunity that we're
obviously very much focused on.

On the Intel what I would say is, you know, go back to
some of my comments on the seasonality and therefore the
lack of seasonality actually happening. And the fact that
the penetration of gigabit Ethernet on the client market,
you know, was only somewhere between 30% and 40% exiting
last year.

And, you know, as Weili said we expect it to be the
majority on the desktop before the end of this year. And
that is actually happening and did happen in -even Q - and
saw further penetration even in Q1.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 25

Jim Jungjohann: So on your Intel revenue guidance for the year is that
assuming down revenues trailing off or flat or anything...

George Hervey: No we're not going to go there.

Jim Jungjohann: Okay. Thanks. Bye bye.

Operator: Your next question is from (Carl Monte) with Wachovia
Securities.

(Carl Monte): Thank you. Most of my questions have been answered. But
Sehat in your opening remarks I have a question and a
clarification. In your opening remarks you said that half
of your engineers were working on new products. Is that
correct?

Sehat Sutardja: Yes approximately.

(Carl Monte): Okay. And are these new products? Could you give us any
color? Are they in the current markets you serve or would
you be entering any new markets? And if so what kind of...

Sehat Sutardja: I'm sorry. Go ahead.

(Carl Monte): And if so what kind of incremental opportunity are you
looking at?

Sehat Sutardja: All right. In combinations of existing markets we're
extending our - some of them are expanding our market
share with our customer base. And quite a bit of that
addressing new segments for the market.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 26

Again some of this information is too sensitive to talk
about. But I can tell you that the - of all things that we
do - usually don't generate revenues for two years, three
years, and sometimes even longer.

And yet we realize that regardless of how expensive it is
to develop this technology we realize that this is the
only way for us to ensure the continued growth of the
company for the long term.

So we're very excited that we have our long term plan, you
know, and basically be able to support our long term
investment goals.

(Carl Monte): Okay. Thank you.

Operator: Your next question is with (David Wu) with Wedush Morgan
Securities.

(David Wu): Yes I just want to get a couple of clarifications please
and a question. The clarification is, George when you
mention about the rich product mix I assume to get the
kind of margins you got the PC market and the notebooks
were stronger than the desktop for your drivers or your
drive customers in Q1. Am I correct on that assumption?

And the other one I have really was the - Dr. Sutardja we
have the Intel showing of - at the analyst meeting - a 90
millimeter gig-E chip and they said they got their first
silicon on those. Is the gig-E client the place where you
use the most advanced technology to get smaller die size
and lowest cost and lower power?

Sehat Sutardja: Okay. Let me answer the second part first.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 27

The - I'm not - you know, I'm not too familiar with what
exactly the process is they use.

(David Wu): CMOS.

Sehat Sutardja: Yeah I mean geometries or die sizes and so on. But I can
be - I'm pretty sure that our solutions are very very
competitive in terms of - we've been seeing smaller die
sizes. And our devices are scalable. We can use any
geometry. We've proven over the years that our devices can
shrink when the time is right. We use smaller process
geometry when the yield is good. Whenever the profits
mature.

So - but having said that it's not about process geometry.
It's about the reliability of performance, about longer
range, about features. Okay we have patented VCT
technology where our customer can do diagnostics on the
cable problems.

So this is - the time to talk about process probably was
about two years ago when we were nobody. But at this point
we really - what customers are talking to us - is really
who has the proven products in the market.

George Hervey: On the first question what I think I would point you to
(David) is a couple of commentary from our customers
actually. We are going down the right path. But I think if
you look at some of the strength within the storage
business in the enterprise area, you know - and obviously
with our dominant market share in that segment, you know,
any strength there is very positive for us.

And then second, Intel was making some relatively positive
comments relative to Centrino's adoption and therefore
improving a mix of mobile PCs


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 28

versus desktops. And of course we would agree with that.
We have seen that. And of course that is also beneficial
to our margins.

(David Wu:) Thank you very much.

Operator: Your next question is from (Quinn Bolton) with
Oppenheimer.

(Quinn Bolton): Hi guys. Congratulations on a good quarter. Just a
clarification and then a couple of questions. One on the
parts that were just discussed earlier on the call that
you've won at Asustech, you know, those look like they're
branded three com ports. I just wanted to clarify - are
these internally designed both by Mac from Marvell or is
this a 3Com Mac? If it's internally designed - it's
entirely internally designed by Marvell why the 3Com
branding? And then a couple of follow ones.

George Hervey: (Quinn) I think if you remember back to late last year
when we announced our, you know, new partnership with 3Com
as, you know, a very prominent supplier of client-based
products, we said that, you know, many of the Yukon
products - so it is 100% our IP but 3Com does certainly
offer other things beyond just the hardware in support of
the customers.

And so we're very, you know, pleased to be engaged with
them and moving, you know, into the white box market, you
know, together with them. But the hardware itself is 100%
Marvell.

(Quinn Bolton): Is there any revenue sharing -- and I'm sure you won't be
able to give us the details if there is -- but is there
revenue sharing on the actual gig-E controller as part of
that arrangement or does 3Com get - you know, what's the
benefits of 3Com?


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 29

George Hervey: Well you're right. We won't go into the details of that.
But I think it's a - both companies are pleased with the
business relationship.

(Quinn Bolton): Okay. Second question is just you talked about the
opportunity in the ramp at Western Dig. You know, on some
of their comments they said that they've seen some pretty
good demand for the Legacy 40 gig per platform.

I'm just wondering if you've seen any change to your
forecasted ramp at Western Digital given the customer
demand for some of the Legacy platforms?

George Hervey: Yeah again we're not going to go into detail about, you
know, specific customers. Again I think, you know, you
need to go and ask WD how - and I think they've already
commented on that. So I think we'll leave it at that.

(Quinn Bolton): Okay. And then finally just Sehat had mentioned sort of a
increased target focus on the consumer platforms over, you
know, sort over the next few years. And I'm just sort of
wondering to the extent that more and more business comes
from consumer how do you keep the margins above 50%, 52%
percent.

Sehat Sutardja: Okay. Consumers - margin is a function of value. We do
believe certain area of consumer product can command
higher margin - maybe possibly higher margins than the PC
market.

The PC market is being commoditized. Everybody has the
same solutions or perceived to have the same solutions
even though it might not be true in certain areas. But may
be perceived as having similar solutions.

In consumers - I should say the potential of the consumers
- if we leverage advanced technology that we have
developed over the years the invention of


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 30

products be significantly better than - I mean to have
products that did not exist today - that doesn't exist
today - we do believe that the - for a company that can
deliver those products early - first to market - margins
should be reasonable.

George Hervey: Right. I think that's consistent with our long term
business model which is, you know, we have set at 52% to
contemplate, you know, that all these various areas that
we're going into some will be - as they are today - some
are higher than the corporate average and some are lower
than the corporate average.

The model is a blend of all the various businesses that -
product areas I should say - that we're involved in. But I
wouldn't necessarily - I agree with Sehat - I wouldn't
assume that margins are going down just because of the
consumer.

Weili Dai: And Marvell has been known for not only providing this
technology we have the most efficient from the cost point
of view - the yield, the die size - so, you know, we're
very competitive.

And also the consumer entrance of market segment this is
just only additional market we're (unintelligible) on top
of the market segment we're studying today. So it's just
in addition to what we have today.

George Hervey: Right.

(Quinn Bolton): So to sum up from where we stand today no reason to change
the long term gross margin target of 52%?

George Hervey: No actually not.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 31

Sehat Sutardja: No.

(Quinn Bolton): Thank you.

Operator: Your next question is from (Aluc Sha) with Pacific Crest.

(Aluc Sha): Hi guys. Good quarter. Two questions for you. George you
mentioned a couple times on this conference call you have
better visibility. Can you kind of give us a feel of that?
I mean, what does that mean? Is it better lead time? Do
you fully booked for the quarter? And then I'll follow-up
with my second question.

George Hervey: Sure. The - our storage business is pretty much consistent
with where it's been before which is basically we are
fully booked, you know, as we enter a quarter because of
the nature of that business, the customization of the
products, and the need by our customers to ensure a source
of supply, you know, they do give us excellent visibility
going forward.

The com business has not been quite as - you know, doesn't
follow that pattern quite as closely. And, you know, we've
commented over the last several quarters that, you know,
we would need, you know, anywhere from 30% to 50%, you
know, "turns" -- which is not really turns it's really
fill-in in a given quarter.

I would say right now that that number is significantly
less than 30% at this point.

(Aluc Sha): And what has it historically been going into the quarter?

George Hervey: It's been a least 40% to 50%.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 32

(Aluc Sha): Okay. And then my second question real quickly on the
802.11g we saw the announcement earlier this week. Do you
have a customer now or is this just a product announcement
that you think will lead to a customer some time this
quarter?

Sehat Sutardja: We are working with a number of customers but again we
cannot disclose those names yet.

(Aluc Sha): Okay. But we haven't seen an official (unintelligible)
from any of those customers yet?

George Hervey: Probably won't still for another couple quarters. We're
anticipating g revenue in the second half of this year.

(Aluc Sha): Okay. Great. Thank you.

Operator: Your next question is from Charlie Glavin with Think
Equity.

Charlie Glavin: Let me just echo guys wow on both the quarter and the
guidance.

And at the risk George - having known you for a while of
adding more fuel to the flame - when I look at the ramp on
both - or the layout of (canterwood) as well as Springdale
along with the prices for Intel's motherboard it would
seem that if anything that if Intel takes its prices down
from the 85 to 105 range - down closer to the 45 of the
845 - and the way I look at 6 of the (canterwoods) don't
have gigabits and 3 or 4 of the (Microstars) didn't have
gigabit.

If this transition is going this well and you've got this
sort of visibility with - per the price cuts that we're
hearing out of Asia already planned in September,


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 33

does your guidance actually include the possibility of say
those motherboards filling out with more gigabits. Or is
that pretty standard? If you take a look at 6 of the 16
not being there that looks like - and granted that you can
over extrapolate but that would assume maybe 50% to 60%
penetration.

Or maybe Sehat another way of looking at - based on what
you're seeing right now with gigabits what are you looking
for the penetration as we enter into the Labor Day and
maybe the end of the year?

George Hervey: I think the way we'd like to probably address that Charlie
is to say that the best data we could come up with was
that the penetration level exiting last year into the
client was somewhere between 30% to 40%.

We believe that by the time we get to Q4 of this year --
and now of course this would be the EOM market plus the
white box market -- as a total provider to the client Q4
most likely would be the peak of dollar revenue at that
point.

So that means that there's a lot of additional volume to
be, you know, brought forth as we go through the rest of
the year.

Charlie Glavin: And George or Sehat when you take a look at let's say
Microstar as a example they had only one Intel specific
board, one Realtech and the rest were - you know, outside
of those three that were non-gigabit - is it safe to
assume that those are solutions that are being used with
Marvell.

And I guess maybe the other question is given the expense
of the board are we seeing actually people not necessarily
putting the integrated LAN on motherboard but rather
looking for more of a support on the NIC side and thus
opening up more for the 3Com.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 34

Sehat Sutardja: The first Ethernet is quickly getting out of favor on the
business PCs and white boxes. When we - some of the first
Ethernet designs are still there. It's simply for
negotiations in pricings to obtain lower cost gigabits.

So we do expect that this will go away pretty soon by the
end of this year because people will - customers will not
- the end users will not (unintelligible) with inferior
(unintelligible) solutions if they can buy gigabits
elsewhere.

So, I mean, I'm not- I cannot predict how many percentage
will stick with (unintelligible) but I just don't see why
do you want - similar question - why would anyone want to
have a USB1 instead of USB2.

Charlie Glavin: Right. Agreed Sehat. Actually you opened up one - if I
could - for a follow-up. You mention as far as the
commercial standpoint - George if I'm not mistaken you
guys announced some laptop design wins but I don't believe
you've formally announced who they are.

I know - I believe that they started ramping six to eight
weeks ago. Are you guys in a position - particularly going
in since laptops have been ramping ahead of desktops on
the hard disk drive as far as who your bigger customers
and could you elaborate on some of those opportunities as
well?

George Hervey: Some of the drives now Charlie?

Charlie Glavin: Yes on the drives.

George Hervey: Yeah well, I mean, we have three traditional, you know, as
always the guys that we are participating with - Toshiba
- you know, which we have a very long relationship with
and a very strong relationship. Obviously Hitachi is


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 35

also a big player which we again provide them 100% of
their opportunity. And of course we are now actively
engaged with Fujitsu as well - who is a significant player
in the mobile sector.

Charlie Glavin: And do you see significant upside from there?

George Hervey: Yeah I think the, you know, we're just very positive about
the market conditions right now. They seem to be getting
better.

Sehat Sutardja: Plus the price of laptops are going down. (Unintelligible)
prices are getting more reasonable. Flat panels are
getting more reasonable prices. A lot of people are buying
laptops for their second machines.

Charlie Glavin: Right. And (unintelligible) certainly help out with the
thermals as well. Thanks guys. Again great quarter.

Sehat Sutardja: Thank you.

Operator: Your next question is from (Mark Litakis) with Prudential
Securities.

(Mark Litakis): Yeah thank you. A question on serial ATA. Sehat I think I
didn't quite catch all the comments that you made there.
Did you say that you expected a unit crossover between
serial ATA and parallel in 2004? And does that assume that
100GB drives surpass 80GB drives at that time?

Along with that I'm also interested in understanding when
do you expect material production revenues for the serial
ATA products. And to what extent do you envision the
serial ATA product being sold as a stand alone product
versus being integrated into the system on chip. Thank
you.


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 36

Sehat Sutardja: Sure. Serial ATA is beyond - a lot of people talk about
serial ATA just like - treating serial ATA like just
another interface. Serial ATA is beyond parallel ATA. The
performance - the data rate can support is actually- it's
a must as we go to the next generation storage
applications.

So by next year the storage devices - especially the high
end desk tops - I mean the desktop because of the business
PCs - if you don't serial ATA they will have lower
performance compared to ones that only have a parallel
ATA. So that's on the technology side.

Now on the business side - on the market side you'll see
Springdale supporting serial ATA basically on the
motherboard so that creates basically a demand -- instant
demand -- for serial ATA. So that allows the transition
from parallel ATA to serial ATA much smoother because of
this dual support for parallel ATA and serial ATA.

But I will say that future generations of chip sets, I
mean, that doesn't make sense to support as many as the
parallel ATA supports the future generations of chip sets.
So most of those things will go to serial ATA and with
more drives coming what the serial ATA naturally - I mean
natively the transition will happen within a year.

(Mark Litakis): And when we think about building our models for this part
of your business should we think about this in terms of
you integrating this into the SOC and then that
functionality slowing down the normal price erosion. Or
should we think about this as something that's sold as a
separate component that you guys get, you know, an extra
revenue per unit from.

Sehat Sutardja: George do you want...


MARVELL SEMICONDUCTOR - FIRST QUARTER FISCAL YEAR 2004
Moderator: Dr. Sehat Sutardja
05-22-03/3:45 pm CT
Confirmation #521891
Page 37

George Hervey: Yeah well I think you remember (Mark) there's just really
two markets there as Sehat has been describing in the PC
market. There I think you should assume that in the target
drive, yes, it's going to go into an SOC. And we hope that
will be another factor that allows us to, you know,
achieve a decent ASP on that product as it gets integrated
into the bigger product.

But remember that we're also on the host side within the
system electronics now with - for example being our 8-port
device there. And therefore those will, you know, stay as
individual discreet solutions moving forward for the RAID
market.

(Mark Litakis): Okay. Great. That's helpful. Thank you very much.

George Hervey: Okay. Thank you.

Operator: Ladies and gentlemen we've reached the allotted time for
our Q&A session. I'd now like to turn the conference back
over to Dr. Sutardja for any further comments or closing
remarks.

Sehat Sutardja: Thank you (Paul). This completes our Q1 Fiscal 2004
conference call. I would like to thank you for joining us
today and look forward to updating you next quarter.

Operator: Thank you ladies and gentlemen for your participation. You
may now disconnect at any time.

END