EXHIBIT 99.1
Published on December 12, 2003
Exhibit 99.1
MARVELL(R) ANNOUNCES RETIREMENT OF DIRECTOR FROM BOARD OF DIRECTORS
SUNNYVALE, CALIFORNIA, (DECEMBER 12, 2003) -- Marvell(R) Technology Group Ltd.
(NASDAQ: MRVL), today announced today that Diosdado P. Banatao has retired from
Marvell's Board of Directors. Mr. Banatao was appointed Marvell's Co-Chairman in
1995 after he completed an early-stage venture investment in Marvell, and
departs from Marvell's Board to spend additional time on his venture capital
investments. Mr. Banatao is the founder and managing partner of Tallwood Venture
Capital, a private venture capital fund with investments in semiconductors and
semiconductor related technologies.
Dr. Sehat Sutardja, Marvell's Co-Chairman, President and CEO, thanked Dado for
supporting Marvell, and said, "Our entire Marvell family wishes Dado continued
success with his venture investments." Mr. Banatao added that, "The past eight
years have been a wonderful time to be part of the Marvell team, and I look
forward to the Company's continued success."
ABOUT MARVELL
Marvell (NASDAQ: MRVL) is the leading global semiconductor provider of complete
broadband communications and storage solutions. The Company's diverse product
portfolio includes switching, transceiver, communications controller, wireless,
and storage solutions that power the entire communications infrastructure,
including enterprise, metro, home, and storage networking. As used in this
release, the terms "Company" and "Marvell" refer to Marvell Technology Group
Ltd. and its subsidiaries, including Marvell Semiconductor, Inc. (MSI), Marvell
Asia Pte Ltd. (MAPL), Marvell Japan K.K., Marvell Taiwan Ltd., Marvell
International Ltd. (MIL), Marvell U.K. Limited, Marvell Semiconductor Israel
Ltd. (MSIL), RADLAN Computer Communications Ltd., and SysKonnect GmbH. MSI is
headquartered in Sunnyvale, Calif., and designs, develops and markets products
on behalf of MIL and MAPL. MSI may be contacted at (408) 222-2500 or at
www.marvell.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: This release contains forward-looking statements based on projections and
assumptions about our products and our markets. Words such as "anticipates,"
"expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will,"
"should," and their variations identify forward-looking statements. Statements
that refer to, or are based on projections, uncertain events or assumptions also
identify forward-looking statements. All such statements are not guarantees of
results and are subject to risks and uncertainties. Some risks and uncertainties
that may adversely impact the statements in this release include, but are not
limited to, the timing, cost and successful completion of development and volume
production, end-customer qualification and adoption, and the timing, pricing,
rescheduling, or cancellation of orders. For other factors that could cause
Marvell's results to vary from expectations, please see the sections titled
"Additional Factors That May Affect Future Results" in Marvell's annual report
on Form 10-K for the year ended February 1, 2003 and Marvell's subsequent
reports on Form 10-Q. We undertake no obligation to revise or update publicly
any forward-looking statements.
Marvell(R) and the Marvell logo are trademarks of Marvell.
MEDIA CONTACT
Name: Mike Tate
Title: Treasurer
Tel: 408.222.2500
E-mail: mtate@marvell.com