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AMCC Announces Update Relating to Its Voluntary Stock Option Review

SUNNYVALE, Calif., June 27 /PRNewswire-FirstCall/ -- Applied Micro Circuits Corporation (Nasdaq: AMCC) today announced that it has received a subpoena from the U.S. Attorney for the Northern District of California requesting documents relating to the Company's historical stock option practices. The Company also announced that it has been contacted by the Office of the U.S. Attorney for the Southern District of California, which has opened its own investigation into the Company's historical stock option practices.

As previously announced, AMCC's Audit Committee is conducting a self-initiated review of the Company's historical stock option grant practices and related accounting. That review is still underway and is not expected to be completed by June 29, 2006, the extended deadline for filing the Company's annual report on Form 10-K for its fiscal year ended March 31, 2006. As a consequence, the Board of Directors has recommended that the special meeting of stockholders to be held on June 30, 2006 be adjourned until July 28, 2006 at 10:00 a.m. (PDT) at the Company's principal offices at 215 Moffett Park Drive, Sunnyvale, California 94089.

About AMCC

AMCC provides the essential building blocks for the processing, moving and storing of information worldwide. The company blends systems and software expertise with high-performance, high-bandwidth silicon integration to deliver silicon, hardware and software solutions for global wide area networks (WAN), embedded applications such as PowerPC and programmable SOC architectures, storage area networks (SAN), and high-growth storage markets such as Serial ATA (SATA) RAID. AMCC's corporate headquarters are located in Sunnyvale, California. Sales and engineering offices are located throughout the world. For further information regarding AMCC, please visit our web site at http://www.amcc.com.

AMCC is a registered trademark of Applied Micro Circuits Corporation. All other trademarks are the property of their respective owners.

SOURCE Applied Micro Circuits Corporation
06/27/2006
CONTACT: Investor Relations, Scott Dawson of Applied Micro Circuits Corporation, +1-858-535-4217, sdawson@amcc.com; or Media/Editorial, Angela Edgerton of The Ardell Group, +1-858-792-2941, angela@ardellgroup.com, for Applied Micro Circuits Corporation
Web site: http://www.amcc.com
(AMCC)



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