19.05.04

19.5.2004: Transmeta Corporation Announces CFO Transition Plan

Transmeta Corporation (Nasdaq:TMTA), the leader in efficient computing, today announced that Svend-Olav Carlsen, the company"s chief financial officer, plans to resign in June 2004 in order to accept a new opportunity with a privately held company. Carlsen, 38, joined Transmeta as corporate controller in October 2000 and has served as the company"s chief financial officer since June 2002.
Transmeta has initiated a search for a new CFO and is defining its transition plan. The transition date has not yet been established.
"Olav has made major contributions to Transmeta, developing a strong finance team and organization, controlling our expenses and leading our recent successful stock offering," said Matthew R. Perry, president and CEO, Transmeta Corporation. "We will all miss Olav"s energy but we will continue to benefit from the fiscal conservatism and the strong sense of integrity that he has helped us to establish as core company values," said Perry.
"I am very grateful to Transmeta"s investors, employees, management team and board of directors for the privilege of working with them," said Carlsen. "I am committed and look forward to working with my colleagues to develop and achieve a sound transition plan."
About Transmeta Corporation
Founded in 1995, Transmeta Corporation designs, develops and sells highly efficient x86-compatible software-based microprocessors that deliver a compelling balance of low power consumption, high performance, low cost and small size. Our products are valuable for diverse computing platforms demanding energy efficiency, low heat and x86 software compatibility. We also develop advanced power management technologies for controlling leakage and increasing power efficiency in semiconductor and computing devices. To learn more about Transmeta, visit www.transmeta.com.
Safe Harbor Statement
This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements speak only as of the date of this release, and we will not necessarily provide updates of our projections or other forward-looking statements. Investors are cautioned that such forward-looking statements are subject to many risks and uncertainties, and may differ materially or adversely from our actual results or future events. Important risk factors that could have material or adverse effects on our results include general economic and political conditions and specific conditions and volatility in the markets that we address, the rescheduling or cancellation of significant customer orders, market acceptance and adoption of our new products by our present and future customers and end users, difficulties in developing or manufacturing new and existing products in a timely and cost effective manner, our dependence on third parties for sourcing materials and providing manufacturing services, intense competition and competitive pressures, patents and other intellectual property rights, and other risk factors. We urge investors to review our filings with the Securities and Exchange Commission, including our most recent reports on Forms 10-K and 10-Q, which describe these and other important risk factors that could have an adverse effect on our results. We undertake no obligation to revise or update publicly any forward-looking statement for any reason.


Contact:
Transmeta Headquarters
3990 Freedom Circle
Santa Clara, CA 95054 USA
Tel: 408-919-3000
S. Olav Carlsen, 408-919-3000
or
Mozes Communications LLC
Kristine Mozes, 781-652-8875
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