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Emulex Board Continues to Recommend Against Broadcom's Offer: Page 4 of 7

Broadcom is further attempting to mislead investors by claiming
that we have been unable to convert design wins to revenue in the
past. The facts are that Emulex has a proven history of taking
design wins and converting them into revenue and market share.
For instance:
o We have been the sole supplier of Fibre Channel HBAs to three
product lines at one tier-one server OEM for more than 10
years. This multi-generation design win has spanned six
generations of adapters and has generated over $500 million
in revenue in the past five years.
o In the next generation 8Gb/s Fibre Channel segment we have
secured multiple design wins across all the major server
OEMs, including single and dual-channel HBAs as well as
mezzanine cards for blade servers. According to a recently
published report from the independent Dell'Oro Group
(www.delloro.com), we already have established a 43% market
share in this market.
o In fact, 82% of our 8Gb/s Fibre Channel design wins are
already shipping, and we expect 100% of them will convert to
revenue.
Broadcom is simply attempting to cloud the facts -- we have
consistently converted design wins into both revenues and market
share.

* Broadcom is making misleading statements about Emulex's ability to
compete in the converged networking market without combining with
Broadcom.
The Facts: Broadcom describes the importance of Converged Network
Adapter (CNA) technology, but intentionally gives the impression
that Emulex cannot compete in the market without combining with
Broadcom. They make this claim despite the fact that Broadcom is
well aware that Emulex does not need Broadcom's Ethernet technology
because we have already developed highly successful CNA solutions,
with which we are securing design wins at Broadcom's expense. More
importantly, industry leading OEMs are signing up with us in this
exciting new growth opportunity, which demonstrates a clear
validation of our unique approach to the emerging 10Gb/s Ethernet
market.

* Broadcom is making misleading statements about Emulex's history of
meeting forecasts.
The Facts: Over the past three years, despite unprecedented
macro-economic turmoil, Emulex met or exceeded the high-end of its
earnings guidance for 11 of the past 12 quarters. Similarly,
Broadcom points to recent stock price and revenue declines, while
knowing fully well that the rest of our comparable companies have
been similarly adversely impacted by macroeconomic conditions.
These macroeconomic-driven factors are NOT relevant when discussing
Emulex's ability to execute in the future, but ARE relevant to
demonstrating the fact that Broadcom's offer is opportunistically
timed to take advantage of the current macroeconomic dislocation
and to attempt to acquire Emulex on the cheap.

Emulex Expects to Create Significant Long-Term Value for Stockholders. Emulex's Value Creation Expectations Are Realistic and
Based on Modest Assumptions.

As detailed in our May 19, 2009 presentation that you can review at www.emulexvalue.com, we project that our current strategy will generate over $600 million in revenue, mid-20% in non-GAAP operating margin and
$1.45 in non-GAAP EPS in fiscal year 2012. For our core HBA/FC business, these projections assume modest growth, consistent with projections of industry growth and server shipment rates from an independent third-party. Projections for converged network revenue are based primarily on the 12 design wins we have secured to-date along with our expected channel business and reflect a modest expectation that we will capture approximately 30% of the converged networking market. Broadcom's characterization of these projections as "hockey stick" is a flippant attempt to suggest that the results are unattainable and unrealistic; however, Emulex's projections are based on known and reasonably quantifiable information. The fact is that only a fraction of the total potential platforms in converged networking are represented in our estimates. Thus, as OEMs continue to transition their product offerings to the emerging 10Gb/s Ethernet technology, we fully expect to secure more design wins which will ultimately leverage our first mover advantage and increase our market share and revenues beyond our projections of $150 million for fiscal 2012.