AUSTIN, Texas – November 7, 2000 – Cirrus Logic, Inc. (NASDAQ:CRUS) today announced the results of its efforts to redeem all of its 6% Convertible Subordinated Notes, due December 15, 2003.

The Company previously announced two separate redemption calls of the notes.

The combination of the two calls and other conversion transactions, has resulted in the following:

• The elimination of approximately $271 million in long-term debt from the balance sheet, leaving the Company virtually debt free;
  
  
• 99.96 percent of the notes were converted into 11.2 million shares of common stock;
  
  
• An increase to stockholders equity of approximately $271 million;
  
  
• Annual interest expense savings of approximately $18 million, and;
  
  
• Annual cash savings of approximately $16 million.
  
  

  About Cirrus Logic

  Cirrus Logic is a premier supplier of high-performance analog and DSP chip solutions for Internet entertainment electronics. Building on its global market share leadership in audio integrated circuits and its rich mixed-signal patent portfolio, the company targets high-volume audio, storage and communications applications. Cirrus Logic sells its products under the Crystal®, Maverick™, and 3Ci™ brands as well as its own name. Founded in 1984 in Silicon Valley, Cirrus Logic operates from headquarters in Austin, Texas and major sites located in Fremont, California and Broomfield, Colorado as well as offices in Europe, Japan and Asia. More information about Cirrus Logic is available at www.cirrus.com.

  Except for historical information contained herein, the matters set forth in this news release are forward-looking statements that are dependent on certain risks and uncertainties including such factors, among others, as market and business conditions, the company’s cash position, overall conditions in the semiconductor market, customer cancellations of orders, or the failure to place orders consistent with forecasts, unforeseen manufacturing difficulties, or hardware or software deficiencies, or delays in customer qualification of key new products, achieving high utilization of the company's manufacturing resources, final determination of appropriate inventory write-downs based on the outlook at the end of each quarter, actual operational spending, obtaining financing sufficient to meet the company's needs and the risk factors listed in the company's Form 10-K for the year ended March 25, 2000, and in other filings with the Securities and Exchange Commission. The foregoing information concerning Cirrus Logic’s business outlook represents our outlook as of the date of this news release, and Cirrus Logic undertakes no obligation to update or revise any forward-looking statements, whether as a result of new developments or otherwise.