Sirenza Microdevices Announces $7.5-Million Equity Investment In Pure-Play Wafer Foundry and Strategic Partner Global Communication Semiconductors

SUNNYVALE, Calif.- Sirenza Microdevices, Inc. (Nasdaq:SMDI),

a leading designer and supplier of high-performance radio frequency (RF)

components for communications equipment manufacturers, today announced a

$7.5-million equity investment in Global Communication Semiconductors,

Inc. (GCS), a privately held semiconductor foundry service provider. The

purchase of GCS Series D-1 preferred stock will give Sirenza approximately

12% ownership of GCS on a fully diluted basis. In connection with the

investment, GCS will elect a representative of Sirenza to its seven-member

board of directors.



Sirenza outsources all semiconductor wafer fabrication and semiconductor

packaging for its diverse product line, and GCS is one of its principal

wafer fabrication partners. GCS specializes in high-performance Indium

Gallium Phosphide (InGaP) and Indium Phosphide (InP) heterojunction

bipolar transistor (HBT) technologies for applications ranging from mobile

wireless networks to high-speed fiber optic networks. On January 10,

2002, GCS announced that it had secured $17.5 million in the first round

of its Series D-1 equity financing. Including the investment by Sirenza

and other second round investments, GCS has closed its Series D-1

financing at $27.5 million.



“We’re pleased to join other investors in funding the growth of GCS as a

leading-edge foundry for RF components,” said Robert Van Buskirk,

president and chief executive officer of Sirenza Microdevices. “This

investment emphasizes our strategic relationship with GCS and reinforces

GCS’s role as a source of advanced technology for Sirenza. The investment

also supports our fabless operating model, and we believe that it will

strengthen our supply chain and help us maintain our price/performance

leadership across a broad spectrum of products for both wireless and

broadband wireline markets.”



“Sirenza is a corporate equity partner who appreciates the value of a

pure-play foundry business model,” said Dr. S.K. (Dave) Wang, chief

operating officer and acting president and chief executive officer of

GCS. “We share a vision for the future of InGaP and InP HBT technologies

in the global telecommunications industry, and we are working together to

realize this vision. Sirenza’s investment will further support GCS’s

ability to offer the most advanced compound semiconductor technologies by

continuing to build its R&D and manufacturing operations, while remaining

a pure-play foundry.”



Global Communication Semiconductors, Inc.



Global Communication Semiconductors, Inc. (GCS), an ISO 9002-certified

company based in Torrance, California, provides compound semiconductor

foundry services to the wireless telecommunication and high-speed

networking industries. GCS currently offers foundry services for both

InGaP and InP HBT processes and provides optoelectronic foundry services

for PIN diodes used in the fiber optic communication market. Additional

information may be found at www.gcsincorp.com.



Sirenza Microdevices, Inc.


Sirenza Microdevices, Inc., an ISO 9001-certified manufacturer

headquartered in Sunnyvale, California, with design centers throughout the

U.S. and Canada, is a leading supplier of high-performance RF components

for the wireless and wireline telecommunications markets. The company’s

products include power modules, low-noise amplifiers, high-linearity gain

blocks, high-performance transistors, modulators, switches, mixers,

upconverters and downconverters, and high-performance multicomponent

modules (MCMs) for transmit and receive applications. Product information

may be found on Sirenza’s website at www.sirenza.com.



This news release contains forward-looking statements regarding future

events, including statements regarding Sirenza’s continued access to

process technology advancements and ability to maintain its

price/performance leadership in the wireless and wireline markets for RF

components. Sirenza wishes to caution readers that such statements are,

in fact, predictions and are subject to risks and uncertainties that could

cause actual events or results to differ materially. The factors that

could cause actual results or events to differ materially include, but are

not limited to, changes in Sirenza’s relationship with GCS or other

semiconductor wafer fabrication partners that would limit Sirenza’s access

to materials and processes required to manufacture its

products. Additional factors that could cause actual results to differ

materially from those in the forward-looking statements are included in

Sirenza’s filings with the Securities and Exchange Commission,

specifically its Form 10-K filed on March 29, 2001 and its Form 10-Q filed

on November 14, 2001. Sirenza undertakes no obligation to update its

forward-looking statements at any time or for any reason.



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Contact:

Robert Van Buskirk

President and Chief Executive Officer

Sirenza Microdevices, Inc.

(408) 616-5497

ir@sirenza.com

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