Microchip Technology named Cleveland's presenting sponsor

Microchip Technology named Presenting Sponsor of the Trans-Am on the Tarmac race in Cleveland, Ohio. CHANDLER, Ariz., July 9, 2002 [NASDAQ: MCHP] -- Microchip Technology Inc. today announced it has been named the presenting sponsor of the ...

Microchip Technology named Presenting Sponsor of the Trans-Am on the Tarmac race in Cleveland, Ohio.

CHANDLER, Ariz., July 9, 2002 [NASDAQ: MCHP] -- Microchip Technology Inc. today announced it has been named the presenting sponsor of the Trans-Am on the Tarmac race by the Trans-Am Series, headquartered in Clearwater, Florida. The Trans-Am on the Tarmac Presented by Microchip Technology, Round 5 of the 2002 Trans-Am Series for the BFGoodrich Tires Cup, is scheduled for Saturday, July 13 at Burke Lakefront Airport, Cleveland, Ohio. CBS Sports will provide live coverage of the race to affiliate stations, beginning at 5 p.m. ET.

Microchip Technology is a leading semiconductor manufacturer, supplying components which provide electronics intelligence in products used by consumers every day, such as garage door openers, electronic thermostats, automotive remote-keyless-entry system, battery-powered electronics and smart appliances. In many cases, the user simply does not know that a semiconductor provides the "smart" control of the product.

Microchip is an industry leader in providing embedded control solutions to its customers. Embedded control means that the circuitry is 'hidden' or built into an electronic system's operating board. Embedded applications include automotive, machine tools, cameras, consumer and office appliances, cellular phones, personal digital assistants (PDAs) and other handheld electronics, as well as robots and toys. Headquartered near Phoenix, Arizona, Microchip has more than 35,000 customers worldwide.

This marks Microchip's first race sponsorship in the Trans-Am Series, though it is not the Company's first affiliation with the Series. Microchip has long been associated with the Trans-Am Series, through its co-sponsorship of driver Paul Gentilozzi; three-time and defending Trans-Am Series champion. Johnson Controls Inc. is the primary sponsor of Gentilozzi's No. 3 Johnson Controls Jaguar XKR.

"Microchip is driven towards becoming the number one supplier of embedded control solutions by exceeding our customer's expectations for products, services and capability," said Microchip CEO and President Steve Sanghi, who will give the command for the racers to start their engines and present the top three finishers with their trophies on the podium after the race. "Participating in events such as the Trans-Am on the Tarmac race provides a unique opportunity for Microchip to advance our brand awareness, promote new products and build a deeper rapport with our customers."

The Trans-Am Series, sanctioned by Englewood, Colorado-based Sports Car Club of America Pro Racing, is the longest-running road racing series in North America, having entered its 37th year of competition in 2002. Defending and three-time series champion Gentilozzi is looking to claim his fourth title against a strong field of rivals including current championship leader Boris Said, Johnny Miller, Michael Lewis, Tony Ave, 2001 AmeriSuites Rookie of the Year Justin Bell and 2002 Rookie of the Year candidate Butch Leitzinger. Three of the Trans-Am's mid-season events are being televised nationally by CBS Sports, while the others will be carried by SPEED Channel on either a live or tape-delayed basis. All Trans-Am drivers compete for the prestigious BFGoodrich Tires Cup, emblematic of the series driving championship.

Microchip Technology Inc. manufactures the popular PICmicro® field-programmable RISC microcontrollers, which serve 8- and 16-bit embedded control applications, and a broad spectrum of high-performance linear and mixed-signal, power management and thermal management devices.

The Company also offers complementary microperipheral products including interface devices; microID® RFID devices; serial EEPROMs; and the patented KEELOQ® security devices. This synergistic product portfolio targets thousands of applications and a growing demand for high-performance designs in the automotive, communications, computing, consumer and industrial control markets. The Company's quality systems are ISO 9001 (1994 version) and QS9000 (1998 version) certified. Microchip is headquartered in Chandler, Arizona with design facilities in Mountain View, California and Bangalore, India; semiconductor fabrication facilities in Tempe and Chandler, Arizona and Puyallup, Washington; and assembly and test operations near Bangkok, Thailand. Microchip employs approximately 3,100 people worldwide and has sales offices throughout Asia, Europe, Japan and the Americas. More information on the Company can be found at www.microchip.com.

Note: The Microchip name and logo, PICmicro, microID and KeeLoq are registered trademarks of Microchip Technology Inc. in the USA and other countries. All other trademarks are the property of their respective owners.

-scca pro racing-

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Series Trans-Am
Drivers Butch Leitzinger , Boris Said , Tony Ave , Justin Bell , Paul Gentilozzi , Johnny Miller , Michael Lewis