SAN JOSE and NEWPORT BEACH, Calif., July 11, 2000 - Cisco Systems, Inc. (NASDAQ: CSCO) and Conexant Systems, Inc. (NASDAQ: CNXT) today jointly announced their support for the new V.92 dial-up modem standard that was presented last week to the International Telecommunications Union (ITU) for determination.

Cisco Systems and Conexant each contributed key technologies to the new V.92 dial-up modem specification, which significantly reduces the time it takes to establish a dial-up connection, improves upload rates, and adds the ability to receive and initiate phone calls during a dial-up modem session. Additionally, Conexant will be hosting a Plugfest testing event in September to promote interoperability between V.92 products from a wide variety of manufacturers.

"Cisco's market leadership in remote access servers and concentrators is based on continuous support of industry standards," said Charles Fadel, manager, product marketing for Cisco Systems' Remote Access Product Division. "We believe the new V.92 modem specifications will offer significant enhancements for the integration of data and voice."

"We are pleased to have played a leading role in bringing this important new technology to Internet users throughout the world," said Matt Rhodes, senior vice president and general manager for Conexant's Personal Computing Division. "The dial-up modem remains the most ubiquitous Internet access solution available, and we continue to develop new ways to make it faster and easier to use, while enabling an even richer Internet connectivity experience. With our upcoming Plugfest testing event, we are committed to ensuring the same kind of widespread interoperability for V.92 products that has made so many generations of modem products so successful."

Conexant and Cisco were among the driving forces behind the modem standards development arm in the ITU, which is a worldwide industry body of communications companies that define communications standards such as V.92. V.92 encompasses a number of specifications including QuickConnect, which dramatically improves how quickly users can connect with their Internet Service Provider (ISP), and modem-on-hold, which enables users to suspend and re-activate their dial-up connection to either receive or initiate a call, without having to implement the entire dial-up sequence again. V.92 also includes a capability called pulse code modulation (PCM) upstream, which boosts the upstream data rates from the user to the ISP to reduce transfer times for large files and email attachments sent by the user.

Conexant is the world's largest supplier of both client-side and central-site modem solutions. Its client-side modem solutions include full-hardware modems, full-software modems, host-controlled modems, modems with universal serial bus (USB) support, and modems that combine audio and modem support in a single solution. Its central-site solutions include the AnyPort family of access processors, which leverage Conexant's modem expertise along with the company's broad portfolio of fax, voice, ISDN, wireless and other access technologies.

About Cisco Systems

Cisco Systems, Inc. (NASDAQ: CSCO) is the worldwide leader in networking for the Internet. at www.cisco.com.

About Conexant Systems, Inc.

With a revenue run-rate of approximately $2 billion per year, Conexant is the world's largest independent company focused exclusively on providing semiconductor solutions for communications electronics. With more than 30 years of experience in developing communications technology, the company draws upon its expertise in mixed-signal processing to deliver integrated systems and semiconductor products for a broad range of communications applications. These products facilitate communications worldwide through wireline voice and data communications networks, cordless and cellular wireless telephony systems, personal imaging devices and equipment, and emerging cable and wireless broadband communications networks. The company aligns its business into five product platforms: Network Access, Wireless Communications, Digital Infotainment, Personal Imaging, and Personal Computing. Conexant is a member of the S&P 500 and Nasdaq-100 Indices. For more information, visit Conexant at www.conexant.com.

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QuickConnect is a trademark of Conexant Systems Inc.