AUSTIN, Texas – October 18, 2000 – Cirrus Logic Inc. (NASDAQ:CRUS) today announced that it has called for a November 7, 2000 redemption of $111,875,000 aggregate principal amount of its 6% Convertible Subordinated Notes, due 2003.

The company previously announced the October 19, 2000 redemption call of $135,000,000 of the currently outstanding convertible subordinated notes. This second call will eliminate all of the company’s convertible debt and leaves the company virtually debt free. The combined note redemptions will eliminate about $16 million of annual interest expense. Assuming these redemptions result in a total conversion of notes into Cirrus Logic common stock, approximately 10.2 million shares will be issued.

November 7 Redemption Details

The notes called for redemption on November 7, 2000 will be redeemed at accrued interest to November 7, 2000, plus 103.429% of their principal amount. Payment of the redemption price will be made on November 7, 2000 with respect to notes surrendered for redemption on or before that date. No interest will accrue, on or after November 7, 2000, on the notes called for redemption.

The notes called for redemption may be converted into shares of Cirrus’s common stock at any time prior to the close of business on November 6, 2000 at the rate of 41.2903 shares for each $1,000 principal amount represented by such notes (equivalent to a conversion price of approximately $24.2188 per share). However, no interest for the period from June 15, 2000, the last interest payment date for the notes, to the date of conversion will be paid with respect to any notes that are surrendered for conversion.

Surrender of notes for redemption or conversion may be effected only by the holder of record for such notes. Beneficial owners of notes should contact the broker, dealer, bank, trust company or other nominee through which they beneficially own notes to provide instructions with respect to the redemption or conversion of their notes, or to obtain additional information.

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. Accordingly, actual events and results, including the actions actually taken by the company to redeem, convert and/or purchase its notes, may differ materially from the information contained in such forward-looking statements.