Chapman Capital L.L.C., the renowned investment advisor to two investment funds that in concert own over 13 million, or 5.9%, of the common shares of Vitesse Semiconductor today announced here of its advocacy regarding the termination of James A. Cole, on of the mot prominent present members of the Board of Directors of Vitesse. In addition, it has also been averred that subsequent to the dismissal of Mr. Cole from the Company, there is fresh proposal of the introduction of an investigative process regarding the imperative role played by Mr. Cole in the unearthed fraud that was committed upon Vitesse and its owners, by the Chapman Capital.

Chapman Capital L.L.C. is an internationally acclaimed Los Angeles, CA based investment advisor that has its central attention on takeover and turnaround investing. The well-known firm is also the registered investment advisor to Chap-Cap Partners II Master Fund, Ltd. and Chap-Cap Activist Partners Master Fund, Ltd., the combined owners of approximately 5.9% of Vitesse Semiconductor's common shares. Moreover, in the duration of the precedent eleven years, the organization had been agitating in an effective and prolific manner for the need of restructuring or sale of over twenty five publicly-traded companies, that takes account of the recently closed transactions involving Entertainment Distribution Company, Inc./Glenayre Messaging, Carreker Corporation, Sunterra Corporation, and Embarcadero Technologies, Inc., and pending transactions involving Agile Software Corporation and Howie Lutnick's eSpeed, Inc. On the contrary, Vitesse Semiconductor Corporation is a technology firm based at Camarillo, CA and is primarily engaged in the designing, development and marketing of a varied portfolio of high-performance, cost-competitive semiconductor solutions for communications and storage networks worldwide.

While being requested by the Press & media to comment on the unusual development, Robert L. Chapman, the venerated Junior Managing Member of Chapman Capital, said, "For nearly a year, Chapman Capital has beseeched Vitesse to separate itself from Mr. Cole, Managing Partner of Windward Ventures. Dozens of investors with claims to ownership in Vitesse have contacted Chapman Capital literally pleading with our firm to take whatever actions necessary to force Mr. Cole's resignation.” “Today, for the first time in nearly two decades, Vitesse's owners can sleep at night knowing that the infliction upon Vitesse of Jim Cole and his disconcerting code of ethics has ended," he concluded.