MIPS Stockholders to Receive $8.01 in Aggregate Net Proceeds From Recapitalization and Merger

Tue Feb 5, 2013 4:30pm EST

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SUNNYVALE, Calif., Feb. 5, 2013 (GLOBE NEWSWIRE) -- MIPS Technologies, Inc. (Nasdaq:MIPS), a
leading provider of industry-standard processor architectures and cores for home entertainment,
networking, mobile and embedded applications, today announced that each holder of MIPS common
stock will receive $6.21 in cash and 0.226276 shares of MIPS' common stock in the previously
announced proposed recapitalization.

As a result, the aggregate net proceeds to each holder of MIPS common stock, following the
consummation of the previously announced proposed patent sale transaction with Bridge Crossing,
LLC, the proposed recapitalization and the proposed acquisition by Imagination Technologies Group
plc (LSE:IMG) (in which each share of MIPS' common stock, after giving effect to the patent sale
and recapitalization, will receive merger consideration equal to $1.80 per share) has increased to
$8.01 (U.S.) per share in cash.

The transactions remain subject to MIPS stockholder approval and other customary closing
conditions. The MIPS annual meeting of stockholders to approve the transactions has been scheduled
for February 6, 2013.

J.P. Morgan is acting as exclusive financial advisor to MIPS, and Skadden, Arps, Slate, Meagher &
Flom LLP is acting as legal advisor.

About MIPS Technologies, Inc.

MIPS Technologies, Inc. (Nasdaq:MIPS) is a leading provider of industry-standard processor
architectures and cores for home entertainment, networking, mobile and embedded applications. The
MIPS architecture powers some of the world's most popular products including over 700 million
units in our most recent fiscal year. Our technology is broadly used in products such as digital
televisions, set-top boxes, Blu-ray players, broadband customer premises equipment (CPE), WiFi
access points and routers, networking infrastructure and portable/mobile communications and
entertainment products. Founded in 1998, MIPS is headquartered in Sunnyvale, California, with
offices worldwide. For more information, contact (408) 530-5000 or visit www.mips.com
http://www.globenewswire.com/newsroom/ctr?d=10020715&l=6&a=www.mips.com&u=http%3A%2F%2Fwww.mips.com%2F
.

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Additional Information and Where You Can Find It 

This communication may be deemed to be solicitation material in respect of the proposed patent
sale transaction between MIPS and Bridge Crossing, and the proposed merger transaction between
MIPS and Imagination Technologies. In connection with the proposed transactions, MIPS has filed a
definitive proxy statement and other relevant materials with the SEC. The proxy statement and
other relevant materials, and any other documents to be filed by MIPS with the SEC, may be
obtained free of charge at the SEC's website at www.sec.gov
http://www.globenewswire.com/newsroom/ctr?d=10020715&l=9&a=www.sec.gov&u=http%3A%2F%2Fwww.sec.gov%2F
 or from MIPS' website at www.mips.com
http://www.globenewswire.com/newsroom/ctr?d=10020715&l=9&a=www.mips.com&u=http%3A%2F%2Fwww.mips.com%2F
 or by contacting MIPS Investor Relations at: ir@mips.com
http://www.globenewswire.com/newsroom/ctr?d=10020715&l=9&a=ir%40mips.com&u=mailto%3Air%40mips.com
. Investors and security holders of MIPS are urged to read the proxy statement and the other
relevant materials before making any voting or investment decision with respect to the proposed
transactions because they will contain important information about the transactions and the
parties to the transactions.

MIPS and its executive officers, directors, other members of its management and employees, under
SEC rules, may be deemed to be participants in the solicitation of proxies from MIPS' stockholders
in favor of the proposed transactions. A list of the names of MIPS' executive officers and
directors and a description of their respective interests in MIPS are set forth in the definitive
proxy statement for MIPS' 2012 Annual Meeting of Stockholders, MIPS' 2012 Annual Report on Form
10-K and Amendment No. 1 and Amendment No. 2 thereto, in any documents subsequently filed by its
directors and executive officers under the Securities Exchange Act of 1934, as amended, and other
relevant materials filed with the SEC in connection with the transactions when they become
available. Certain executive officers and directors of MIPS have interests in the proposed
transaction that may differ from the interests of stockholders generally, including benefits
conferred under retention, severance and change in control arrangements and continuation of
director and officer insurance and indemnification. These interests and any additional benefits in
connection with the proposed transactions are described in the definitive proxy statement relating
to the transactions.

Cautionary Statement Regarding Forward-Looking Statements 

This press release contains statements that may be deemed to be forward-looking statements within
the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. These statements are based on MIPS and its Board of Directors' current expectations and
beliefs and are subject to a number of factors and uncertainties that could cause actual results
to differ materially from those described in these statements. These statements include the
statements regarding the ability to complete the transactions considering the various closing
conditions and the other statements regarding the proposed transaction. Any statements that are
not statements of historical fact (including statements containing the words "believes," "should,"
"plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered
to be forward-looking statements. These statements are not guarantees of future performance,
involve certain risks, uncertainties and assumptions that are difficult to predict, and are based
upon assumptions as to future events that may not prove accurate. Therefore, actual outcomes and
results may differ materially from what is expressed herein. The following factors, among others,
could cause actual results to differ materially from those described in any forward-looking
statements: failure of the MIPS stockholders to approve the proposed transactions with Bridge
Crossing and Imagination Technologies; failure of the MIPS stockholders to approve the
recapitalization; the challenges and costs of closing the transactions with Bridge Crossing and
Imagination Technologies; the ability to retain key employees; and other economic, business,
competitive, and/or regulatory factors affecting the businesses of MIPS or Imagination
Technologies generally, including those set forth in the filings of MIPS with the Securities and
Exchange Commission, especially in the "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" sections of MIPS annual reports on Form 10-K,
including any amendments thereto, and quarterly reports on Form 10-Q, MIPS current reports on Form
8-K and other SEC filings. MIPS is under no obligation to (and expressly disclaims any such
obligation to) update or alter any forward-looking statements as a result of developments
occurring after the date of this press release.

MIPS and MIPS-Based are trademarks or registered trademark of MIPS Technologies, Inc. in the
United States and other countries. All other trademarks referred to herein are the property of
their respective owners.

CONTACT: Media Contact:
         Jen Bernier-Santarini
         MIPS Technologies, Inc.
         +1 408-530-5178
         jenb@mips.com
         
         Investor Contact:
         Bill Slater
         MIPS Technologies, Inc.
         +1 408-530-5200
         ir@mips.com