Former FCC Chairman Reed Hundt Nominated To Intel Board Of Directors

SANTA CLARA, Calif., April 11, 2001 - Intel Corporation today announced that Reed E. Hundt has been nominated to stand for election to the Intel board of directors. Intel's board of directors for 2001-2002 will be elected at the company's annual stockholders' meeting May 24.

Hundt, 53, is a senior advisor on information industries at the management consulting firm McKinsey & Company Inc. He also serves as a special advisor to Blackstone Group, a New York-based private equity firm, and is a venture partner at Benchmark Capital, a venture capital firm based in Menlo Park, Calif. that specializes in technology investing.

From 1993 to 1997, Hundt served as chairman of the Federal Communications Commission, the agency responsible for overseeing U.S. telecommunications and broadcast policy. During his tenure at the FCC, Hundt presided over the implementation of the Telecommunications Act of 1996, the first major overhaul of U.S. telecommunications policy in more than 60 years. He also helped negotiate the World Trade Organization Telecommunications agreement, among other accomplishments.

Prior to joining the FCC, Hundt was a partner in the Washington, D.C. law office of Latham & Watkins.

Hundt graduated magna cum laude in 1969 from Yale College, where he earned his bachelor's degree in history with exceptional distinction. He received his juris doctorate from Yale Law School in 1974.

Hundt has been nominated to take the board of directors seat being vacated by Gordon E. Moore. Moore, 72, will retire from the board in May.

Moore was one of the original Intel founders, and has served on the board since the company was formed in 1968. He will continue to provide valuable counsel to the company in his role as director emeritus.

"We look forward to having someone of Reed Hundt's unique background and experience joining the Intel board of directors," said Andy Grove, chairman of the Intel board of directors. "His knowledge of the communications industry will be important to Intel as we continue to execute on our strategies for growth.

"At the same time, we will miss Gordon Moore's direct role on the Intel board. It would be impossible to adequately thank Gordon, whose name is synonymous with integrated circuit technology, for all he has done for Intel and the industry."

This news release should not be considered as a proxy solicitation with regard to the annual stockholders' meeting. The company's proxy statement for the meeting is being distributed today by mail, and is also available on the Internet at www.intc.com.

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