SANTA CLARA, Calif. -- PMC-Sierra, Inc. (NASD: PMCS) today announced Standard & Poor's will include the company in the S&P 500 Index after the close of trading on Thursday, August 2, 2001. PMC-Sierra will be replacing Quaker Oats (NYSE:OAT) in the index following PepsiCo Inc.'s acquisition of Quaker Oats in a transaction expected to close on that date. The index committee of Standard & Poor's stated that PMC-Sierra will be added to the S&P 500 GICS Semiconductors sub-industry group and the Electronics (Semiconductors) industry group.The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value weighted index (stock price times number of shares outstanding), with each stock's weight in the index proportionate to its market value. The "500" is one of the most widely used benchmarks of U.S. equity performance and is held broadly by U.S. and international index funds. PMC-Sierra Inc.