Legerity Restructures, Lays Off

AUSTIN, Texas -- Legerity, Inc., a leading provider of analog/mixed-signal integrated circuits (ICs) for voice and data networks, today announced that the company has reorganized and streamlined its structure to focus on three primary areas of business critical to the company's future: High Performance Analog (HPA), Voice over Broadband (VoB), and Voiceband Network Access (VNA). These changes will allow the company to be profitable and cash flow positive for 2003. "We took a hard look at every aspect of our business: future demand in the telecom industry, the global aspect of Legerity's product offerings, our proprietary high-speed analog processes, the economy and, most importantly, what we do better than any other company," explained Ron Van Dell, president and CEO of Legerity. "Based on those factors, we will concentrate our efforts on VNA, VoB, and HPA going forward and have restructured the organization accordingly." As a result, 80 Legerity employees were part of a reduction in force that is effective immediately. "We are now staffed appropriately to move into 2003 in solid financial condition and with an outstanding pipeline of new products for growth and diversification," Van Dell stated. Legerity Inc.