NeoMagic (R) Corporation Announces Acquisition of Advanced Microwave Inc.

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--News Direct--

NeoMagic Corporation (OTC: NMGC), today is pleased to announce a significant milestone with the acquisition of Advanced Microwave Incorporated.

Established in 1995, Advanced Microwave (www.advmic.com) Inc. has earned a distinguished reputation as a pioneering force in the design, R&D, manufacturing, and marketing of cutting-edge RF components, subsystems, mixers, amplifiers, data log Amplifiers, filters and converters tailored for both commercial and military applications. The company's hallmark innovation lies in its unique manufacturing process, fusing soft board (duroid) and alumina substrate (ceramic) into a singular package, creating a remarkably resilient and durable product capable of withstanding the most demanding environmental conditions.

"We are thrilled with the acquisition of Advanced Microwave Inc.," expressed David Tomasello, Chairman of NeoMagic Corporation. "This transaction allows NeoMagic to enter new areas of growth, including the defense industry.”

Syed Zaidi, President, and CEO of NeoMagic, echoed his enthusiasm for the acquisition, stating, "Today signifies the dawn of a new and exciting chapter for NeoMagic, as we welcome Advanced Microwave Inc. into the fold. Their exceptional and innovative products lineup seamlessly aligns with NeoMagic's commitment to providing our customers’ with top-tier solutions and products. We are eager to build upon Advanced Microwave Inc.'s legacy and elevate it to a prominent position in the marketplace."

NeoMagic Corporation remains actively engaged in the exploration of strategic partnerships, joint ventures, and potential mergers and acquisitions, all aimed at expanding our product and technology portfolio.

For more information, please contact Investor Relations at IR@neomagic.com

About NeoMagic

NeoMagic Corporation, headquartered in Silicon Valley, a pioneer in SOC (System On A Chip) and embedded dynamic random-access-memory (DRAM) technology, the integration of complex logic, memory and analog circuits into single-chip solutions, designed to offer the lowest power, smallest form-factor and best multimedia features and performance.

For more information, visit www.NeoMagic.com.

NeoMagic owns and operates Advanced Microwave Inc.

NeoMagic owns and operates MercadoMagico.com

MercadoMagico is a registered trademark.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed from time-to-time in the Company's filings with the Securities and Exchange Commission, including our Form10-K's, 10-Q and 8-K's for 2007 through the date of October 31, 2010 hereof have been made available to the Investor at www.sec.gov. Information for the period ending January 30, 2011 to the present is not available through the SEC due to the cessation of the Company’s required filings under the 1934 Act. Actual results, including, without limitation, the Company's ability to successfully raise capital may differ significantly from those set forth in the forward-looking statements. Forward-looking statements involve risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). For example, statements about our expectations in connection with financings are subject to a variety of uncertainties and are subject to change as a result of changes in circumstances that could make it difficult for us to consummate such financings on terms acceptable to the Company, or at all. The Company undertakes no obligation to update any forward-looking statements, except as provided for by law.

NeoMagic is a registered trademark of NeoMagic Corporation and MiMagic is trademarked. All other trademarks are the property of their respective owners. NeoMagic disclaims any proprietary interest in the marks and names of others.

Contact Details

NeoMagic

Rod Peterson

+1 408-428-9725

IR@neomagic.com

Company Website

http://www.neomagic.com

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