Agreement Includes Potential Future Revenues From Licensing Royalties

NEWPORT BEACH, CA -- (Marketwire) -- 10/06/08 -- Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today announced that it has completed the sale of certain non-core patents for $2 million, which will be reported in the company's fourth quarter revenues. The patent sale agreement includes potential future Mindspeed revenues derived from licensing royalties. Specific terms of the sale are confidential.

Mindspeed has a broad intellectual property portfolio with a number of patents which are no longer core to its business focus. For the past year the company has generated revenues from patent sales and expects to enter into additional strategic non-core patent sales or licensing arrangements in the future.

About Mindspeed Technologies®

Mindspeed Technologies, Inc. designs, develops and sells semiconductor networking solutions for communications applications in enterprise, access, metropolitan and wide-area networks.

The company's three key product families include high-performance analog transmission and switching solutions, multiservice access voice-over-IP processors designed to support voice and data services across wireline and wireless networks and WAN communication products such as T/E carrier transmission devices and ATM/MPLS network processors.

Mindspeed's products are used in a wide variety of network infrastructure equipment, including voice and media gateways, high-speed routers, switches, access multiplexers, cross-connect systems, add-drop multiplexers and digital loop carrier equipment.

To learn more, visit us at www.mindspeed.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding the company's expectations, goals or intentions, including but not limited to, statements regarding future revenues from licensing royalties, patent sale or licensing arrangements and the company's intellectual property portfolio. These forward-looking statements are based on management's current expectations, estimates, forecasts and projections about the company and are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated in the forward-looking statements. These risks and uncertainties include, but are not limited to: future operating losses; cash requirements and terms and availability of financing; worldwide political and economic uncertainties and specific conditions in the markets we address; loss of or diminished demand from one or more key customers or distributors; fluctuations in the price of our common stock and our operating results; our ability to attract and retain qualified personnel; constraints in the supply of wafers and other product components from our third-party manufacturers; doing business internationally; pricing pressures and other competitive factors; successful development and introduction of new products; our ability to successfully and cost effectively establish and manage operations in foreign jurisdictions; industry consolidation; order and shipment uncertainty; our ability to obtain design wins and develop revenues from them; lengthy sales cycles; the expense of and our ability to defend our intellectual property against infringement claims by others; product defects and bugs; and business acquisitions and investments, as well as other risks and uncertainties, including those detailed from time to time in our Securities and Exchange Commission filings. Forward-looking statements contained in this press release are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.