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For Release: November 18, 1999
Altera CEO Plans Retirement
San Jose, Calif., November 18, 1999 - Rodney Smith, Chairman of Altera Corporation (Nasdaq: ALTR), announced today that he intends to retire from the positions of President and Chief Executive Officer by January 1, 2001. He intends to remain as Chairman of the Board. Mr. Smith joined Altera in 1983 and has filled the President and CEO positions since that time.
The Company also announced that a subcommittee of the Board has been formed to identify a successor to Mr. Smith. This committee will evaluate both external and internal candidates as potential replacements for Mr. Smith.
Altera Corporation, The Programmable Solutions CompanyTM, was founded in 1983 and is a leading supplier of programmable logic devices and associated logic development software tools. Programmable logic devices are semiconductor chips that can be programmed on-site, using software tools that run on personal computers or engineering workstations. User benefits include ease of use, lower risk, and fast time-to-market. Altera's CMOS-based programmable logic devices address high-speed, high-density and low-power applications in the telecommunications, data communications, computer peripheral, and industrial markets. Altera common stock is traded on the Nasdaq Stock Market under the symbol ALTR. More information on Altera can be obtained on the Internet at http://www.altera.com.
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