MENLO PARK, Calif., November 9, 1992 -- Cisco Systems, Inc., (NASDAQ: CSCO), today reported its first quarterresults for the period ended October 25, 1992. Net salesfor the first fiscal quarter were $126,379,000 and netincome was $33,243,000, or $ .52 per share. This comparesto net sales of $63,588,000 and net income of $15,472,000or $ .25 per share in the same period last year, and areincreases of 99 percent, 115 percent, and 108 percent,respectively.

The net income per share and number of shares used in per-share calculations for the period ended October 27, 1991reflects the two-for-one stock split which was effectiveMarch 6, 1992.

"Cisco was pleased with the level of business for the quarter, which was an active one for both new productannouncements and for new business partnershipannouncements," said John Morgridge, President and CEO."During the quarter Cisco announced second-generation TokenRing and FDDI performance enhancements to its high-end AGS+router, two new families of low-end network access pointrouters -- the Cisco 3000 and Cisco 4000, the company's firstISDN router for the Japanese market and new IBM softwarecapabilities designed to strengthen our product offerings inthe key growth area of IBM SNA internetworking.Additionally, new OEM and reseller agreements were announcedwith Alcatel and Olivetti in Europe and with Bell Atlanticand US West in the United States. We remain optimistic aboutCisco's long-term business opportunities."

Cisco Systems, Inc., is the leading global supplier of high-performance, multimedia, and multiprotocol routers, bridges,and communication servers.

                       Cisco Systems, Inc.
              CONDENSED CONSOLIDATED BALANCE SHEETS                         (In thousands)
                               October 25,       July 26,                                  1992             1992                              ------------     -----------
Assets                         (Unaudited)
Current assets:  Cash and equivalents         $  43,403       $  39,955  Short-term investments         130,609         116,477  Accounts receivable, net        74,115          61,258  Inventories                      9,105           9,142  Deferred income taxes           17,370          15,268  Other current assets             5,048           4,976                               -----------     -----------       Total current assets      279,650         247,076
Investments                       59,028          46,866Property and equipment, net       32,083          28,017Other assets                       2,471           1,974                               -----------     -----------       Total assets            $ 373,232       $ 323,933                               ===========     ===========
Liabilities and Shareholders' Equity
Current liabilities:   Accounts payable and other      accrued expenses            61,656       $  63,215   Income taxes payable           22,761          15,108                               -----------     -----------       Total current         liabilities              84,417          78,323
Shareholders' equity             288,815         245,610                               -----------     -----------       Total liabilities and         shareholders' equity  $ 373,232        $ 323,933                               ===========     ===========
                             Cisco Systems, Inc.
           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS               (In thousands except per-share amounts)
                                Quarters Ended                            -------------------------                          October 25,   October 27,                             1992          1991                          -----------   -----------
                                  (Unaudited)
Net sales                   $ 126,379     $ 63,588Cost of sales                  40,447       21,851                             --------     --------   Gross margin                85,932       41,737
Operating expenses:  Research and development      9,258        4,695  Sales and marketing          21,745       11,311  General and    administrative              4,463        2,266                             --------     --------   Total operating      expenses                 35,466       18,272                             --------     --------Operating income               50,466       23,465
Interest and other income,  net                           2,723        1,495                             --------     --------Income before provision  for income taxes             53,189       24,960
Provision for income taxes     19,946        9,488                             --------     --------Net income                   $ 33,243     $ 15,472                             ========     ========
Net income per share         $    .52     $    .25                             ========     ========
Number of shares used in  per-share calculation        64,040       63,106                             ========     ========