Intel Executive Vice President Les Vadasz To Retire

John Miner Named President of Intel Capital

SANTA CLARA, Calif., April 17, 2003 - Intel Corporation today announced the retirement of Leslie L. Vadasz, executive vice president and president of Intel Capital, effective June 1. The company also announced that John H.F. Miner, Intel vice president, has been named president of Intel Capital.

Vadasz, 66, was part of Intel's founding team in 1968. He held a variety of engineering and business management positions during his career at Intel. He managed the design teams that developed some of the semiconductor industry's most significant products, including the world's first merchant market large-scale integrated dynamic random access memory (DRAM); the first erasable, programmable read-only memory (EPROM); and the world's first microprocessor.

Most recently, Vadasz has been responsible for Intel Capital, Intel's strategic investment program, which he established in 1991. Vadasz was elected vice president of Intel in 1975 and served on Intel's board of directors from 1988 until 2002 when he reached the board's mandatory retirement age. He will remain director emeritus.

Vadasz has served on several government advisory boards that advise on technology issues, including the Presidential Advisory Committee for Information Technology and the National Research Council's Computer Science and Telecommunications Board. He also was elected a fellow of the Institute of Electrical and Electronic Engineers.

"Les Vadasz has been a source of innovation and strategic guidance throughout Intel's history," said Craig Barrett, Intel chief executive officer. "He is the ultimate engineer, with a knack for anticipating where the industry is headed and how to position us for success. Much of Intel's leadership position in the chip industry is the result of contributions Les has made."

Miner, 48, has served as Intel Capital's general manager since 2002, jointly managing with Vadasz the company's external investments, acquisitions and new business incubation efforts. Prior to this, Miner managed Intel's communications products, server products, and desktop motherboard and PC building blocks businesses. Miner joined Intel in 1983, was named divisional vice president in 1995, and was elected Intel corporate vice president in 1996. He received a bachelor's degree in electrical engineering from Tulane University and an M.B.A. from the University of Oregon.

Intel Capital is one of the most active venture investors worldwide and has invested in more than a total of 1,000 information technology companies in more than 30 countries. In 2002, Intel Capital invested more than $200 million in more than 100 companies. Intel Capital focuses on making equity investments and acquisitions in support of Intel's strategic interests and invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. Intel Capital currently has holdings in more than 475 companies.

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