IRVINE, Calif. -- Broadcom Corporation announced today that Dr. Henry T. Nicholas III has resigned his positions as President and Chief Executive Officer of the company. Dr. Nicholas will serve out his current term as Co-Chairman of the Board of Directors and will provide the company with his continued technical and industry expertise as needed. He will not seek re-election to the Board of Directors at the company's Annual Meeting of Shareholders in May 2003. "After more than a decade of helping to build Broadcom from a start-up enterprise to a billion dollar leader in broadband communications markets, I am taking much needed time off to attend to serious family matters," Dr. Nicholas said. "I believe this is an ideal time to transfer executive management responsibilities to a new chief executive with broad industry management experience and the ability to take Broadcom to new levels of success. We have weathered the worst economic downturn in the history of our industry, and have emerged in a strong position to seize a number of great opportunities. We have a solid foundation of products and customers, and a team of focused managers and engineers dedicated to developing state of the art technologies and products and competing aggressively in our global markets. I feel confident that I am leaving at a time when Broadcom is strong, healthy and poised for growth." Alan E. "Lanny" Ross, a Broadcom board member since 1995 who has been serving as Chief Operating Officer since last November, is assuming the responsibilities of President and Chief Executive Officer while the company conducts a search for a permanent chief executive officer. Dr. Henry Samueli will continue in his roles as Co-Chairman of the Board, Chief Technical Officer and Vice President of Research & Development. "Over the past decade, Dr. Nicholas and Dr. Samueli have assembled some of the best engineers and managers in the semiconductor industry, a group of professionals that I feel privileged to be leading," Mr. Ross said. "With this team's technology expertise, management acumen and industry experience, together with our current and future portfolio of products, I am confident that we will be able to accelerate Broadcom's growth and improvement in operating results." Broadcom Corp.