An affiliate of Avago Finance has filed a registration statement with the SEC relating to a proposed offering which has not yet become effective. Such securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release is not an offer to sell nor a solicitation of an offer to buy any securities.

AVAGO TECHNOLOGIES FINANCE PTE. LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED
(IN MILLIONS)
		Quarter ended												Two quarters ended
		May 3,				February 1,				May 4,				May 3,				May 4,
		2009				2009				2008				2009				2008
Net revenue		$	325			$	368			$	411			$	693			$	813
Costs and expenses:
Cost of products sold:
Cost of products sold			210				204				237				414				467
Amortization of intangible assets			14				15				14				29				28
Restructuring charges			3				6				1				9				2
Total cost of products sold			227				225				252				452				497
Research and development			59				62				62				121				128
Selling, general and administrative			42				40				48				82				98
Amortization of intangible assets			5				6				7				11				14
Restructuring charges			3				5				1				8				3
Total costs and expenses			336				338				370				674				740
Income (loss) from operations			(11	)			30				41				19				73
Interest expense			(20	)			(18	)			(20	)			(38	)			(45	)
Gain (loss) on extinguishment of debt			-				1				-				1				(10	)
Other income (expense), net			(2	)			(2	)			1				(4	)			2
Income (loss) from continuing operations before income taxes			(33	)			11				22				(22	)			20
Provision for (benefit from) income taxes			(2	)			5				4				3				7
Income (loss) from continuing operations			(31	)			6				18				(25	)			13
Income (loss) from and gain (loss) on discontinued operations, net of income taxes			-				-				(1	)			-				8
Net income (loss)		$	(31	)		$	6			$	17			$	(25	)		$	21

AVAGO TECHNOLOGIES FINANCE PTE. LTD.
FINANCIAL SUMMARY (NON-GAAP) - UNAUDITED
(IN MILLIONS, except percentages)
		Quarter ended												Two quarters ended
		May 3,				February 1,				May 4,				May 3,				May 4,
		2009				2009				2008				2009				2008
Net revenue		$	325			$	368			$	411			$	693			$	813
Gross margin			115				164				174				279				346
% of net revenue			35	%			45	%			42	%			40	%			43	%
Research and development		$	58			$	61			$	62			$	119			$	127
Selling, general and administrative		$	39			$	41			$	46			$	80			$	90
Total operating expenses		$	97			$	102			$	108			$	199			$	217
% of net revenue			30	%			28	%			26	%			29	%			27	%
Income from operations		$	18			$	62			$	66			$	80			$	129
Interest expense		$	(20	)		$	(18	)		$	(20	)		$	(38	)		$	(45	)
Net income (loss)		$	(2	)		$	37			$	43			$	35			$	79
The financial summary excludes amortization of acquisition-related intangibles, share-based compensation, restructuring charges, gain (loss) on extinguishment of debt, and income (loss) from and gain (loss) on discontinued operations.

AVAGO TECHNOLOGIES FINANCE PTE. LTD.
FINANCIAL BRIDGE: GAAP TO NON-GAAP - UNAUDITED
(IN MILLIONS)
		Quarter ended											Two quarters ended
		May 3,				February 1,				May 4,			May 3,				May 4,
		2009				2009				2008			2009				2008
Net income (loss) on GAAP basis		$	(31	)		$	6			$	17		$	(25	)		$	21
Amortization of acquisition-related intangibles
Cost of products sold			14				15				14			29				28
Operating expenses			5				6				7			11				14
			19				21				21			40				42
Share-based compensation expense
Cost of products sold			-				-				-			-				-
Operating expenses			4				-				2			4				9
			4				-				2			4				9
Restructuring charges
Cost of products sold			3				6				1			9				2
Operating expenses			3				5				1			8				3
			6				11				2			17				5
(Gain) loss on extinguishment of debt			-				(1	)			-			(1	)			10
(Income) loss from and (gain) loss on discontinued operations			-				-				1			-				(8	)
Net income (loss) on Non-GAAP basis		$	(2	)		$	37			$	43		$	35			$	79
To supplement our unaudited condensed consolidated financial statements presented in accordance with GAAP, we have shown above a non-GAAP presentation of the Company’s net income (loss), which is adjusted to reflect the GAAP results excluding amortization of acquisition-related intangibles, share-based compensation, restructuring charges, (gain) loss on extinguishment of debt, and (income) loss from and (gain) loss on discontinued operations. This non-GAAP presentation is provided to enhance the reader's overall understanding of the comparability of the Company's financial performance among periods.

AVAGO TECHNOLOGIES FINANCE PTE. LTD.
RECONCILIATION OF NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA - UNAUDITED
(IN MILLIONS)
		Quarter ended											Two quarters ended
		May 3,				February 1,				May 4,			May 3,				May 4,
		2009				2009				2008			2009				2008
Net income (loss)		$	(31	)		$	6			$	17		$	(25	)		$	21
Interest expense			20				18				20			38				45
Provision for (benefit from) income taxes			(2	)			5				4			3				7
Depreciation and amortization expense			39				41				38			80				77
EBITDA			26				70				79			96				150
Restructuring and other unusual charges			10				12				3			22				7
Purchase accounting adjustments			-				-				-			-				1
Share-based compensation			4				-				2			4				9
(Gain) loss on extinguishment of debt			-				(1	)			-			(1	)			10
(Income) loss from and (gain) loss on discontinued operations			-				-				1			-				(8	)
Adjusted EBITDA		$	40			$	81			$	85		$	121			$	169
EBITDA represents net income (loss) before interest expense, provision for income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA further adjusted to give effect to certain items that are required in calculating covenant compliance under our senior and senior subordinated notes as well as under our senior secured credit facility. Adjusted EBITDA is calculated by subtracting from or adding to EBITDA items of income or expense described above. EBITDA and Adjusted EBITDA do not represent net income, as that term is defined under GAAP, and should not be considered as an alternative to net income (loss) as an indicator of our operating performance.
Additionally, EBITDA and Adjusted EBITDA are not intended to be measures of free cash flow available for management or discretionary use as such measures do not consider certain cash requirements such as capital expenditures, tax payments and debt service requirements. EBITDA and Adjusted EBITDA as presented herein are not necessarily comparable to similarly titled measures.

AVAGO TECHNOLOGIES FINANCE PTE. LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED
(IN MILLIONS)
		May 3,				November 2,				May 4,
		2009				2008 (1)				2008
ASSETS
Current assets:
Cash and cash equivalents		$	241			$	213			$	83
Trade accounts receivable, net			185				184				213
Inventory			151				188				166
Other current assets			38				34				32
Total current assets			615				619				494
Property, plant and equipment, net			276				299				289
Goodwill			171				169				156
Intangible assets, net			685				721				752
Other long-term assets			56				61				50
Total assets		$	1,803			$	1,869			$	1,741
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities:
Accounts payable		$	167			$	174			$	154
Employee compensation and benefits			40				74				54
Accrued interest			30				32				31
Capital lease obligations - current			2				2				2
Other current liabilities			44				48				26
Total current liabilities			283				330				267
Long-term liabilities:
Long-term debt			700				703				705
Capital lease obligations - non-current			4				5				5
Other long-term liabilities			61				55				60
Total liabilities			1,048				1,093				1,037
Shareholder's equity:
Ordinary shares, no par value			1,083				1,080				1,074
Accumulated deficit			(337	)			(312	)			(374	)
Accumulated other comprehensive income			9				8				4
Total shareholder's equity			755				776				704
Total liabilities and shareholder's equity		$	1,803			$	1,869			$	1,741
(1) Amounts as of November 2, 2008 have been derived from audited financial statements as of that date.

AVAGO TECHNOLOGIES FINANCE PTE. LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED
(IN MILLIONS)
		Quarter ended
		May 3,				February 1,				May 4,
		2009				2009				2008
Cash flows from operating activities:
Net income (loss)		$	(31	)		$	6			$	17
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization			39				41				38
Amortization of debt issuance costs			1				1				1
Non-cash portion of restructuring charges			1				-
Impairment of investment			2				-				-
Gain on extinguishment of debt			-				(1	)			-
Share-based compensation			4				-				2
Changes in assets and liabilities, net of acquisitions and dispositions:
Trade accounts receivable			1				-				22
Inventory			28				10				(13	)
Accounts payable			1				(5	)			(47	)
Employee compensation and benefits			(3	)			(31	)			14
Other current assets and current liabilities			14				(24	)			7
Other long-term assets and long-term liabilities			8				(1	)			2
Net cash (used in) provided by operating activities			65				(4	)			43
Cash flows from investing activities:
Purchase of property, plant and equipment			(13	)			(12	)			(13	)
Acquisitions and investment, net of cash acquired			(7	)			-				(8	)
Proceeds from sale of discontinued operations			2				-				-
Net cash used in investing activities			(18	)			(12	)			(21	)
Cash flows from financing activities:
Debt repayments			-				(2	)			-
Cash settlement of equity awards			(1	)			-				-
Net cash used in financing activities			(1	)			(2	)			-
Net increase (decrease) in cash and cash equivalents			46				(18	)			22
Cash and cash equivalents at the beginning of period			195				213				61
Cash and cash equivalents at end of period		$	241			$	195			$	83

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