Intel Reports Progress On Xircom Acquisition

SANTA CLARA, Calif., March 2, 2001 — Intel Corporation today announced that Xircom, Inc. has met the financial obligations that were conditions for closing Intel’s acquisition of Xircom. Intel expects to close the acquisition promptly after the expiration of the tender offer as scheduled at 5 p.m. EST today. This assumes that 90 percent of the outstanding shares of Xircom common stock are tendered and other standard closing conditions are satisfied.

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