Fairchild Semiconductor's Vice Chairman Joseph Martin to Address Lehman Brothers 2003 Semiconductor and Computer Systems Conference

SAN FRANCISCO--Nov. 1, 20039, 2003--Fairchild Semiconductor --

-- Highlights Company's Growth in Power Components and Business Momentum

-- Comments to be Available via Webcast for Thirty Days

Fairchild Semiconductor , one of the largest global suppliers of high performance products that optimize system power for multiple end markets, today announced that Vice Chairman and Senior Executive Vice President Joseph Martin will speak at Lehman Brothers 2003 Semiconductor and Computer Conference. The conference is being held at the Fairmont Hotel in San Francisco, and Martin will be speaking on November 19 at 2:30 p.m. PST.

For thirty days, any interested party can access the presentation through the Investor Relations section of Fairchild's website, investor.fairchildsemi.com, by clicking on the Lehman Brothers 2003 Semiconductor and Computer Systems Conference link.

Martin will discuss Fairchild's strategies to focus on power and the fundamental differences in the company as it enters the current business cycle.

"We've made significant progress in transforming Fairchild into a power focused company," said Martin. "At the peak of the last cycle in third quarter of 2000, we generated approximately 57% of sales from power products. During the last three years we have grown to over 70%, with plans to increase this further. Our latest VRM10 power supply controllers, green mode power switches, and advanced power MOSFETs are driving our leading position in the power market. Our product mix is improving as we enter the new business cycle, positioning us for potentially faster growth.

"We've also focused on streamlining operations and improving our cost structure," stated Martin. "Our new Suzhou assembly and test facility in China is coming on line at the perfect time to support greater demand at costs expected to be lower than in the past. We expect additional savings from our prior announced restructuring activities and the potential for continued interest expense reduction in the future. I'm very excited about the changes in the company and the potential for growth during the next business cycle."

Speaking on current business conditions for Fairchild, Martin commented, "We're continuing to see very positive signs of growth. The demand during the quarter remains strong across all of our end markets. Backlog is building, lead times are averaging more than 9 weeks and distributor inventories have been further reduced from third quarter ending levels due to strong resales. We're encouraged by these results and the momentum Fairchild is building."

Fairchild plans to issue a mid-quarter update on December 3, prior to market open.

About Fairchild Semiconductor:

Fairchild Semiconductor is a leading global supplier of high performance products for multiple end markets. With a focus on developing leading edge power and interface solutions to enable the electronics of today and tomorrow, Fairchild's components are used in computing, communications, consumer, industrial and automotive applications. Fairchild's 10,000 employees design, manufacture and market power, analog & mixed signal, interface, logic, and optoelectronics products from its headquarters in South Portland, Maine, USA and numerous locations around the world. Please contact us on the web at www.fairchildsemi.com.

Special Note on Forward-Looking Statements:

The statements in this release may contain forward-looking statements that are based on management's assumptions and expectations and that involve risk and uncertainty. Forward-looking statements usually, but do not always, contain forward-looking terminology such as "we believe," "we expect," or "we anticipate," or refer to management's expectations about Fairchild's future performance. Many factors could cause actual results to differ materially from those expressed in forward-looking statements. Among these factors are the following: changes in overall global or regional economic conditions; changes in demand for our products; changes in inventories at our customers and distributors; technological and product development risks; availability of manufacturing capacity; availability of raw materials; competitors' actions; loss of key customers; order cancellations or reduced bookings; changes in manufacturing yields or output; and significant litigation. These and other risk factors are discussed in the company's quarterly and annual reports filed with the Securities and Exchange Commission (SEC) and available at the Investor Relations section of Fairchild Semiconductor's web site at investor.fairchildsemi.com or the SEC's web site at www.sec.gov.