Power Integrations Names 12-Year Veteran Balu Balakrishnan Chief Executive Officer; Howard Earhart Remains as Chairman of the Board

January 24, 2002

SAN JOSE, Calif., Jan. 24-- Power Integrations, Inc. (Nasdaq: POWI) today announced that Balu Balakrishnan, president and chief operating officer, has been named president and chief executive officer to succeed Howard Earhart, who is retiring from the company, effective today. Mr. Balakrishnan has also been elected to serve as a member of the company's board. Mr. Earhart will remain chairman of the board and will also be an advisor to the company on an as-needed basis.

Mr. Balakrishnan joined Power Integrations in 1989, less than a year after the company was founded. He has made unparalleled contributions to the company, most notably in his role as chief inventor of Power Integrations' innovative TOPSwitch(TM) and TinySwitch(TM) technologies. Mr. Balakrishnan holds 36 U.S. patents, including the 26 he has been issued since he joined the company.

Prior to being named president and COO, Mr. Balakrishnan held several senior management positions of increasing responsibility including vice president of new business development, engineering and marketing.

"Balu was the clear choice of the board of directors to lead the company into its next phase of growth," said Howard Earhart. "I retire with confidence that the company is in the hands of an extremely capable visionary leader and that the company is well positioned for a very bright future. Balu's strong combination of business, marketing and technical skills have contributed greatly to establishing Power Integrations as a pioneer in the market for high-voltage power conversion ICs. We have worked closely for the past seven years, together with an excellent team, to build a company where we lead the markets we serve with innovative, patented IC products. We have come far but I believe the best is yet to come," he continued.

Mr. Balakrishnan stated, "This is a very exciting period for Power Integrations and I'm looking forward to my expanded role. We have an extremely talented team in place and we've worked hard in positioning ourselves for what we believe will be a pivotal phase for our future. Our vision remains clear: to convert old technology used in power conversion to highly integrated IC-based solutions. Major market drivers such as portability, wireless connectivity and energy efficiency will hasten this conversion as we continue to introduce new products to broaden our customer base and diversify our end markets."

Mr. Balakrishnan has more than 25 years of engineering and management experience, including product line manager for networking and advanced peripherals products at National Semiconductor Corporation. He holds an M.S.E.E. from the University of California, Los Angeles, and a B.S.E.E. from Bangalore University, India.

NASDAQ: POWI $119.08 -1.23
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