Intel Elects Ambassador Charlene Barshefsky to its Board Of Directors

Long-Time Board Member Dr. Winston Chen to Retire

SANTA CLARA, Calif., Jan 22, 2004 -- Intel Corporation today announced that Ambassador Charlene Barshefsky, formerly United States trade representative and currently senior international partner at Wilmer, Cutler & Pickering in Washington, D.C., has been elected to Intel's board of directors. The company also announced that long-time board member Dr. Winston Chen plans to retire from the board of directors in May.

Barshefsky was the United States trade representative and a member of the President's cabinet from 1997 to 2001. As such, she was chief trade negotiator and principal policy-maker for the United States. She has been center stage in the opening of foreign markets and has been instrumental in the elimination of complex regulatory and investment barriers around the world. As a primary architect of U.S. trade policy, she is a central figure in the international business arena.

Before entering government service, Barshefsky was in private law practice. She is a graduate of the University of Wisconsin and Catholic University of America Law School (Washington, D.C.).

"We are extremely pleased to have Ambassador Barshefsky join our board," said Andy Grove, Intel chairman of the board. "Her experience and knowledge of trade issues come at a time when expanding our business internationally represents one of Intel's biggest opportunities and challenges."

Chen, a director since 1993, will retire from the Intel board at the time of the annual stockholder's meeting in May.

"Dr. Chen has made many outstanding contributions to the Intel board," Grove said. "We have relied on his experience founding and running one of the world's largest computer equipment manufacturing companies. As head of the board's audit committee in recent years, he has been tireless and meticulous in ensuring that our compliance efforts meet and exceed evolving regulatory requirements."

Today's announcements will temporarily bring the size of the Intel board to 13. With the departure of Chen and the previously announced May retirement of Charles Young, the board will return to its previous make-up of 11 total directors, including eight independent directors.

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