SiTime Wins Start-up of the Year Award at the annual EuroAsia IC Industry Awards

San Francisco, Calif. July 12, 2006 –SiTime, a privately held Silicon Valley startup bringing the first MEMS based all silicon timing solutions to compete with quartz , created a stir as they were announced Startup Company of the Year, at the annual EuroAsia IC Awards ceremony.

Now in its sixth year, the EuroAsia IC Industry Award winners are selected by an international panel of advisors and announced by European Semiconductor Editor in Chief, David Ridsdale.  The dinner and Awards ceremony was held at the Wattis Theatre, in the MOMA Museum San Francisco.

“It is truly an honor to receive such a prestigious award.  The SiTime team carrying out the design, development, test and production of our first and future product lines fully deserve this award and acknowledgment.   This Team has done a tremendous job since the company was founded in December 2004”, said CEO and Co-founder Kurt Petersen.

Startup Company of the Year is one of several categories in the EuroAsia IC Industry Awards geared towards celebrating innovation and best practice. The acknowledgements to companies, institutes, and individuals are awarded by their peers in the industry. IC manufacturing relies on a wide range of companies and services to achieve the remarkable technical achievements that drive the industry forward. The EuroAsia IC Industry Awards celebrate innovation in an industry where technical achievement is expected and every decision and idea is a potential breakthrough.

“EuroAsia semiconductor is proud of the EuroAsia IC Industry Awards and the extraordinary response from the microelectronics’ industry this year," said David Ridsdale. “We feel strongly about acknowledging the technological achievements of the industry and these categories and products represent key areas of innovation in the chip manufacturing process.  We are very pleased to celebrate our winners' success."

About SiTime
SiTime Corporation manufactures and develops MEMS Silicon resonators and related products.  The MEMS FirstTM and EpiSealTM process licensed from Robert Bosch GmbH has removed the technical barriers preventing wide acceptance of this quartz replacement technology.  The key benefits of the technology are still to be fully realized in future value added components.  These benefits include MEMS + CMOS integration, multiple resonators per die, and system benefits derived from a captive time source.  SiTime’s primary investors are Greylock, NEA venture capital firms and Robert Bosch GmbH.  More information about SiTime and SiResTM samples for select customers is available at www.sitime.com or www.sitime.jp

About EuroAsia Semiconductor
The publishers of European semiconductor have been providing the European semiconductor community with informed coverage of this very fast moving industry for almost thirty years. This level of closeness and experience provides us with a key insight to industry changes and opportunities. Over the last few years there has been considerable change in the way the global community interacts and in keeping with our ethos of providing the most relevant information; we realized that the magazine needed to evolve with the industry we serve. www.euroasiasemiconductor.com

For more information contact:

Ms. Courtney Dimpel     
Marketing Specialist
SiTime Corp       
990 Almanor Ave 
Sunnyvale, Ca 94085     
Tel:  408-328-4427       
Fax: 408-328-4439     
cd@sitime.com