MIPS Technologies Licenses 32-Bit Core to Proxim for Use in High-Speed Wireless Networking Products

Proxim Will Use High-Performance MIPS® Core To Improve Throughput of Wireless Networking Infrastructure Products

MOUNTAIN VIEW and SUNNYVALE, Calif., July 22, 2002- MIPS Technologies, Inc. (Nasdaq: MIPS, MIPSB), a leading provider of industry-standard processor architectures and cores for digital consumer and business applications, and Proxim Corporation (Nasdaq: PROX), a leading manufacturer of wireless networking equipment, today announced that the MIPS32™ 4KEc™ processor core has been licensed to Proxim.

Proxim will use the high-performance MIPS32 4KEc processor core in wireless networking infrastructure products featuring data throughput of 100 Mbps and higher. The MIPS processor core also will enable new Proxim products to operate with extended range in both indoor and outdoor wireless applications.

"We chose the MIPS processor core because it is synthesizable and highly configurable. It gives us the flexibility to meet our design goals and deliver unprecedented throughput and range performance for wireless networking infrastructure products that our customers desire," said Kevin Negus, chief technology officer at Proxim.

"Wireless LANs are an important growth market, enabling businesses to easily expand their networks without having to install miles of cable. We are pleased that Proxim is using the MIPS architecture to power this growth with its innovative solutions, and we are pleased to be a part of it with the 4KEc core. It offers the highest performance available in a 32-bit synthesizable core, and its configurable features enable Proxim's design team to innovate with ease and get to market fast," said Kevin Meyer, vice president of marketing at MIPS Technologies.

About Proxim
Proxim Corporation, the company created by the merger between Proxim, Inc. and Western Multiplex Corporation, is a leading manufacturer of wireless networking equipment, securely connecting networks within buildings as well as between locations. Proxim's complete line of high-speed fixed wireless solutions and wireless local area networks (LANs) provide enterprises, service providers and consumers with unprecedented network capacity and mobility. Primary applications for the company's products include mobile/wireless backhaul, fiber extension/redundancy, enterprise/campus LAN bridging, in-building LANs, last mile access and small office and home networking. For the Proxim Corporation Investor Information Service, call toll free at 877-996-8947. The company's website is www.proxim.com/newproxim .

About MIPS Technologies
MIPS Technologies, Inc. is a leading provider of industry-standard processor architectures and cores for digital consumer and business applications. The company drives the broadest architectural alliance that is delivering 32- and 64-bit embedded RISC solutions. The company licenses its intellectual property to semiconductor companies, ASIC developers and system OEMs. MIPS Technologies and its licensees offer the widest range of robust, scalable processors in standard, custom, semi-custom and application-specific products. The company is based in Mountain View, Calif., and can be reached at +1 (650) 567-5000 or www.mips.com .

Safe Harbor
This press release includes forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ materially. Statements regarding the expected benefits of products, including statements regarding product performance related to flexibility, speed, throughput and reliability, the configuration of MIPS products with Proxim's products, the design and timing of introduction of new products, the growth of the market for wireless LANs and the demand for Proxim's products are subject to the following risks: that the expected benefits will not be realized by customers; that products will not perform as designed; that products will not be available due to manufacturing or supply issues; that the range of wireless networks will not be extended; that the product pricing will not be competitive; and other risks and uncertainties associated with Proxim's business and MIPS business. For risks about Proxim Corporation's business, see Proxim Corporation's Form 10-Q filed on May 13, 2002, Western Multiplex's registration statement on Form S-4 filed on February 25, 2002, it's Form 10-K for the year ended December 31, 2001 and subsequent Forms 8-K, Proxim, Inc.'s Form 10-K for the year ended December 31, 2001 and subsequent Forms 8-K, and other SEC filings. For risks about MIPS' business, see MIPS Technologies, Inc.'s Form 10-Q filed on May 10, 2002 and February 14, 2002, its Form 10-K for the fiscal year ended June 30, 2001 and other SEC filings.

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MIPS® is a registered trademark in the United States and other countries, and MIPS32™ and 4KEc™ are trademarks of MIPS Technologies, Inc. All other trademarks referred to herein are the property of their respective owners.