press releases

PortalPlayer, Inc. Announces Initial Public Offering

SANTA CLARA, California – November 19, 2004 – PortalPlayer, Inc. announced today its initial public offering of 6,250,000 shares of its Common Stock at $17.00 per share.

Citigroup Global Markets Inc. and Credit Suisse First Boston LLC are the joint book-running managers for the offering and Needham & Company, Inc. and SG Cowen & Co., LLC are co-managers.

All of the shares will be sold by the Company. The Company has granted the underwriters an option to purchase up to an additional 937,500 shares to cover over-allotments, if any. PortalPlayer, Inc.'s Common Stock will be traded on The NASDAQ National Market under the symbol "PLAY."

PortalPlayer, Inc., headquartered in Santa Clara, California, is a fabless semiconductor company that designs, develops and markets comprehensive platform solutions, including a system-on-chip, firmware and software for manufacturers of feature-rich, hard disk drive-based personal media players.

Copies of the final prospectus may be obtained by writing to or calling the Prospectus Department of Citigroup Global Markets Inc. at Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, telephone +1 (718) 765-6732 or Credit Suisse First Boston LLC at One Madison Avenue, New York, New York 10010, telephone +1 (212) 325-2580.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Contact Information:
Svend-Olav Carlsen, PortalPlayer, Inc.
408.521.7000
olav.carlsen@portalplayer.com

Kristine Mozes, Mozes Communications
781.652.8875
kristine@mozescomm.com

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