SANTA CLARA, California - June 15, 2000 - In a press release dated June 14, 2000, PMC-Sierra, Inc. ("PMC" - NASDAQ: PMCS), a leading supplier of high performance semiconductor networking solutions for use in the high speed transmission and networking systems, announced that it agreed to acquire Malleable Technologies, Inc. ("Malleable"). According to the terms of the proposed acquisition, PMC will exchange 1.25 million shares of PMC stock for the remaining 85% interest of Malleable that PMC does not already own.

Malleable, based in San Jose, California, was founded in 1998 as a fabless semiconductor company whose focus is in developing high density, voice over packet digital signal processors (http://www.malleable.com).

In connection with the proposed merger, Alliance Semiconductor Corporation ("Alliance" - NASDAQ: ALSC), through it's venture arm, Alliance Venture Management, LLC, will receive approximately 79,000 shares of PMC for its 7% interest in Malleable. Upon the completion of the merger, Alliance will report a gain based on the closing share price of PMC on the date of the merger. Based on the closing share price of PMC on June 14, 2000, the estimated pretax gain from this transaction is approximately $11 million.

Company Information

Alliance Semiconductor Corporation is a leading worldwide supplier of high performance memory and memory intensive logic products. Alliance's product lines include Static Random Access Memory (SRAM), Dynamic Random Access Memory (DRAM), Flash memory and embedded memory and logic products.

Alliance designs, develops and markets its products to the desktop and portable computing, networking, telecommunication, instrumentation, and consumer markets. Alliance manufactures its products through independent and joint venture manufacturing facilities, using advanced CMOS process technologies with line widths as narrow as 0.25 microns.

The Company, through its venture arm Alliance Venture Management, LLC, invests in three venture funds. Alliance Ventures I, LP focuses on investing in networking and communication start-up companies, Alliance Ventures II, LP focuses on investing in internet start-up ventures, and Alliance Ventures III, LP, focuses on emerging companies in the networking and communication market areas.

Alliance was founded in 1985. Additional Company information can be found on our home page: http://www.alsc.com

Forward Looking Statements

Except for historical information, the above statements of this press release (including, without limitation, expressions of expectation, belief, anticipation or estimation of the Company or its management) are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward looking statements. These risks and uncertainties include such factors, among others, potential problems in PMC's acquisition of Malleable, changes in stock price of PMC; adverse changes in value of other investments made by Alliance Venture Management, LLC; the Company's potential status as Investment Act of 1940 reporting company; and the risk factors listed under Item 1: Business and Item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's Form 10-K for the fiscal year ended April 3, 1999, and subsequent 10-Qs, which have been filed with the Securities and Exchange Commission, which is available through the Company's home page, http://www.alsc.com. These forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or to reflect any change in events, conditions or circumstances on which any such forward-looking statement is based, in whole or in part.