MIPS Technologies Reports First Quarter 2007 Revenue and Expected Restatement

Forward Looking Statements

This press release contains forward-looking statements; such statements are indicated by forward looking language such as "plans," "anticipates," "expects," "will," and other words or phrases contemplating future activities including statements regarding the restatement of historical financial statements. Actual events or results may differ materially from those anticipated in these forward-looking statements as a result of a number of different risks and uncertainties, including but not limited to: the fact that there can be no assurance as to the length, cost, or outcome of the special committee's review of historical option grant practices and the Company's accounting for its option grants, or as to the potential impact of that review (including possible accounting impact); our products may fail to achieve market acceptance, changes in our research and development expenses, the anticipated benefits of our partnering relationships may be more difficult to achieve than expected, the timing of or delays in customer orders, delays in the design process, the length of MIPS Technologies' sales cycle, MIPS Technologies' ability to develop, introduce and market new products and product enhancements, and the level of demand for semiconductors and end-user products that incorporate semiconductors. For a further discussion of risk factors affecting our business, we refer you to the risk factors section in the documents we file from time to time with the Securities and Exchange Commission.

Web site: http://www.mips.com/

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