Lam Research Corporation Announces an Increase to Share Repurchase Program

FREMONT, CA, Sep 01 (MARKET WIRE) --
Lam Research Corporation (NASDAQ: LRCX) today announced that its Board of
Directors has approved an increase of $500 million in the Company's
authorization for share repurchases, raising the total authorization
under the program to $750 million. Repurchases of the Company's common
stock may be made in both public market and private transactions, and may
include the use of derivative contracts and structured share repurchase
agreements. The increased authorization limit is effective immediately.

The repurchase program may be suspended or discontinued at any time, and
will be funded using the Company's available cash. As of June 26, 2011,
Lam Research had approximately $2.3 billion in total gross cash and cash
equivalents, short-term investments and restricted cash and investments,
and as of August 12, 2011 had approximately 124 million shares
outstanding.

"We believe that this increase to our share repurchase program enhances
our flexibility with respect to providing value to our shareholder base,"
stated Steve Newberry, Lam's chief executive officer and vice chairman.
"Our strong balance sheet and cash generation capabilities provide us
with the ongoing opportunity to leverage this flexibility."

Statements made in this press release which are not statements of
historical fact are forward-looking statements and are subject to the
safe harbor provisions created by the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements relate, but are not
limited, to management's plans for repurchasing Company stock under the
approvals granted by the Board, management's and the Board's confidence
in the Company's continued growth and cash generation prospects, and the
Company's view that share repurchases will be an effective way to return
value to its shareholders. These plans are dependent on the Company's
future financial condition, its determinations of the continued value of
a repurchase program, changing business conditions in the semiconductor
industry and the overall economy, and its plans for reacting to those
changes, changing customer demands, the success of the Company's
competitors' strategies including their development of new technologies,
and the technical challenges presented by the Company's current product
offerings and new products.

Such statements are based on current expectations and are subject to
uncertainties and changes in condition, significance, value and effect as
well as other risks detailed in documents filed with the Securities and
Exchange Commission, including specifically the Company's report on Form
10-K for its fiscal year ended June 26, 2011, which could cause actual
results to vary from expectations. The Company undertakes no obligation
to update the information or statements made in this press release.

Lam Research Corporation is a major provider of wafer fabrication
equipment and services to the world's semiconductor industry. Lam's
common stock trades on The NASDAQ Global Select Market(SM) under the
symbol LRCX. Lam Research is a NASDAQ-100(R) company. For more
information, visit http://www.lamresearch.com/.

Lam Research Corporation Contact:
Shanye Hudson
Director, Investor Relations
510/572-4589
shanye.hudson@lamresearch.com

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