Dublin, Ireland - May 9, 2001 - Parthus Technologies plc
(Nasdaq: PRTH, LSE: PRH), a leading provider of platform-level
intellectual property, today announced the signing of heads of agreement
with STMicroelectronics (NYSE: STM), for a multi-technology portfolio
licensing and royalty agreement for the complete suite of Parthus' mobile
Internet IP platforms.

Under the terms of the multi-technology agreement:

STMicroelectronics will license the complete portfolio of
Parthus' mobile computing, wireless communications and mobile content
application platforms. ST will deploy these platforms targeting various
applications sectors including communications, consumer and automotive for
which Parthus will derive royalties on a per unit basis.

STMicroelectronics and Parthus will also establish joint
marketing cooperation forum enabling collaboration on innovative IP
platform solutions for emerging market opportunities.

Parthus will have access to STMicroelectronics' manufacturing
capacity in advanced technologies, via a manufacturing and supply
agreement.

"This agreement will extend and elevate our long-standing relationship
with Parthus," said Aldo Romano, Corporate VP and General Manager of ST's
Telecommunications, Peripherals and Automotive Groups. "Parthus' broad
portfolio of platform-level intellectual property will contribute to the
acceleration of ST's development of leading-edge products for tomorrow's
mobile Internet services and will help to address the diversity of devices
delivering these future services in wireless, automotive and other
communications applications".

"I am delighted that our long-standing relationship with ST has evolved
to today's multi-year, multi-technology agreement. This is our largest and
most significant license agreement to date and greatly validates our long
term license and royalty strategy with one of the world's largest
semiconductor companies," said Brian Long, Chief Executive Officer of
Parthus. "Today's technology alliance leverages our collective strengths.
ST is a leading provider of silicon for a broad range of applications such
as wireless, automotive and consumer entertainment. By licensing today's
platforms and cooperating on next generation product definition, we can
deliver a comprehensive set of solutions into next generation high growth
volume markets."

With net revenues of $7.8 billion in 2000, STMicroelectronics is the
world's sixth largest semiconductor manufacturer and a market leader in
the communication, digital consumer and automotive sectors.

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A PDF copy of this press release is also available
here.

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Safe Harbour Statement

This document may contain "forward looking
statements" within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. Any "forward looking statements" in this document are subject
to certain risks and uncertainties that could cause actual results to
differ materially from those stated. Any statements that are not
statements of historical fact (including, without limitation, statements
to the effect that the company or its management "believes," "expects,"
"anticipates," "plans" and similar expressions) should be considered
forward-looking statements. Important factors that could cause actual
results to differ from those indicated by such forward-looking statements
include uncertainties relating to the acceptance of semiconductor
intellectual property offerings, expansion of our business, quarterly
variations in results, and other uncertainties that are discussed in the
"Risk Factors" section of our prospectus dated November 8, 2000, which is
on file with the SEC and the Registrar of Companies in the Republic of
Ireland.

Bluetooth is a trademark owned by
Telefonaktiebolaget L M Ericsson and used by STMicroelectronics and
Parthus Technologies under license.