Marvell Technology Group (MRVL)

Net revenue for the third quarter of fiscal 2007 was $520.4 million, an increase of 22% over net revenue of $426.0 million for the third quarter of fiscal 2006 and a 9% sequential decrease from net revenue of $574.0 million for the second quarter of fiscal 2007.

All results reported are preliminary because Marvell is in the midst of a previously announced internal review by a special committee of its Board of Directors relating to the Company’s historical stock option practices and related accounting matters. The special committee is conducting its review with the assistance of independent legal counsel and outside accounting experts.  The Company does not expect to be in a position to announce additional financial results for the third quarter until the special committee has completed its review and the Company has completed the restatement of its historical financial statements.  Please refer to the Reports on Form 8-K filed with the Securities and Exchange Commission on October 3, 2006 and October 17, 2006 for further information about the internal review and the determination to restate historical financial statements.  The special committee is working to complete its stock option review in a timely manner; however, in light of the review, Marvell does not expect to be in a position to file its Form 10-Q for the third fiscal quarter by the December 7, 2006 filing deadline or the permitted extension to December 12, 2006.

“Although we are disappointed with our sequential decline in revenue this last quarter, we remain excited about our continued strong positioning for growth as we expand our presence into many new large volume markets” stated Dr. Sehat Sutardja, Marvell’s President and CEO.  “In particular we are very excited to have now closed our purchase of Intel’s application and communications processor business earlier this month.  We are fortunate to have this tremendous opportunity for such a talented group of employees, proven world class technology and strong customers to join the Marvell family.”

Marvell will be conducting a conference call today at 1:45 p.m. PST to discuss its third  quarter financial results.  The call is being webcast by Thomson/CCBN and can be accessed at Marvell’s web site at www.marvell.com.  The webcast is also being distributed through Thomson StreetEvents Network.  Individual investors can listen to the call at www.earnings.com, Thomson’s individual investor portal, powered by StreetEvents.  Institutional investors can access the call via Thomson StreetEvents (www.streetevents.com), a password-protected event management site.  The conference call will also be available via the web at www.marvell.com. Please visit the Investor Events section.  Replay on the Internet will be available until November 16, 2007.

Net revenue for the second quarter of fiscal 2007 was $574.0 million, an increase of 47% over net revenue of $390.5 million for the second quarter of fiscal 2006 and a 10.1% sequential increase from net revenue of $521.2 million for the first quarter of fiscal 2007.

All results reported are preliminary because Marvell is in the midst of a previously announced internal review by a special committee of its Board of Directors relating to the Company’s historical stock option practices and related accounting matters. The special committee is conducting its review with the assistance of independent legal counsel and outside accounting experts.   The Company does not expect to be in a position to announce additional financial results for the second quarter until the special committee has completed its review.  The special committee is working to complete its stock option review in a timely manner; however, in light of the review, Marvell does not expect to be in a position to file its Form 10-Q for the second fiscal quarter by the September 7, 2006 filing deadline or the permitted extension to September 12, 2006.

“Our Q2 revenues marked our 35th consecutive quarter of revenue growth” stated Dr. Sehat Sutardja, Marvell’s President and CEO. “During the quarter our revenue growth was limited due to some near term challenges in some of our end markets.  However, we remain very focused on the execution of our long term growth strategies and are excited about the expanding reach of our technology into an increasing number of end markets and applications.”

Marvell will be conducting a conference call today at 1:45 p.m. PST to discuss its first quarter financial results.  The call is being webcast by Thomson/CCBN and can be accessed at Marvell’s web site at www.marvell.com.  The webcast is also being distributed through Thomson StreetEvents Network.  Individual investors can listen to the call at www.earnings.com, Thomson’s individual investor portal, powered by StreetEvents.  Institutional investors can access the call via Thomson StreetEvents (www.streetevents.com), a password-protected event management site.  The conference call will also be available via the web at www.marvell.com. Please visit the Investor Events section.  Replay on the Internet will be available until February 23, 2007.