Cypress Semiconductor Corp. (NASDAQ: CY) today announced that the International Trade Commission (ITC) has agreed to review the entire Initial Determination issued by Chief Administrative Law Judge Charles E. Bullock in the pending patent case between Cypress and GSI Technology. Cypress has asserted that GSI SRAMs infringe multiple Cypress patents.

The Commission also remanded the case back to Judge Bullock for a ruling on the validity and the enforceability of Cypress’s patents. After Judge Bullock completes his ruling, the Commission will review his initial findings on non-infringement as well as his rulings on validity and enforceability.

“We are pleased that the Commission has decided to review the judge’s initial findings with respect to all four patents,” said T.J. Rodgers, Cypress’s President and CEO. “We remain confident that our intellectual property is being infringed and welcome further examination of the facts by the full Commission.”

The ITC case in question is Investigation No. 337-TA-792. Cypress has asserted that GSI’s SigmaQuad-II™, SigmaQuad-III™, SigmaDDR™, standard Synchronous, and NBT SRAMs infringe Cypress patents.

Cypress has also filed a district court suit against GSI, and will continue to vigorously pursue it. That case is No. 11-cv-00789, filed March 30, 2011, before Judge Patrick J. Schiltz in the United States District Court for the District of Minnesota.

About Cypress

Cypress delivers high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and exceptional system value. Cypress offerings include the flagship PSoC^® 1, PSoC 3, and PSoC 5 programmable system-on-chip families and derivatives, CapSense^® touch sensing and TrueTouch^® solutions for touchscreens. Cypress is the world leader in USB controllers, including the high-performance West Bridge^® solution that enhances connectivity and performance in multimedia handsets, PCs, and tablets. Cypress is also the world leader in SRAM memories. Cypress serves numerous markets including consumer, mobile handsets, computation, data communications, automotive, industrial, and military. Cypress trades on the NASDAQ Global Select Market under the ticker symbol CY. Visit Cypress online at www.cypress.com.

Cypress, the Cypress logo, PSoC, PowerPSoC, CapSense, TrueTouch and West Bridge are registered trademarks of Cypress Semiconductor Corp. All other trademarks are property of their owners.

This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding Cypress’ expected outcome of the pending ITC investigation and other future events and expectations, each of which involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including the actions of the Patent and Trademark Office and other factors listed in Cypress’s most recent reports on Form 10-K, 10-Q and 8-K. The information above speaks only as of the date of this release.