Transmeta Announces CFO Transition Plan

Transmeta Corporation (Nasdaq:TMTA), the leader in efficient computing, today announced that Svend-Olav Carlsen, the company's chief financial officer, plans to resign in June 2004 in order to accept a new opportunity with a privately held company. Carlsen, 38, joined Transmeta as corporate controller in October 2000 and has served as the company's chief financial officer since June 2002.

Transmeta has initiated a search for a new CFO and is defining its transition plan. The transition date has not yet been established.

"Olav has made major contributions to Transmeta, developing a strong finance team and organization, controlling our expenses and leading our recent successful stock offering," said Matthew R. Perry, president and CEO, Transmeta Corporation. "We will all miss Olav's energy but we will continue to benefit from the fiscal conservatism and the strong sense of integrity that he has helped us to establish as core company values," said Perry.

"I am very grateful to Transmeta's investors, employees, management team and board of directors for the privilege of working with them," said Carlsen. "I am committed and look forward to working with my colleagues to develop and achieve a sound transition plan."

About Transmeta Corporation

Founded in 1995, Transmeta Corporation designs, develops and sells highly efficient x86-compatible software-based microprocessors that deliver a compelling balance of low power consumption, high performance, low cost and small size. Our products are valuable for diverse computing platforms demanding energy efficiency, low heat and x86 software compatibility. We also develop advanced power management technologies for controlling leakage and increasing power efficiency in semiconductor and computing devices. To learn more about Transmeta, visit www.transmeta.com.

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