press releases

PortalPlayer Files Registration Statement for Public Offering of Common Stock

San Jose, CA – October 24, 2005 – PortalPlayer, Inc. (NASDAQ: PLAY), today announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed offering of 4,500,000 shares of its common stock.

All of these shares will be sold by PortalPlayer. Certain stockholders of PortalPlayer may also sell shares in the offering. PortalPlayer intends to grant the underwriters the option to purchase, within 30 days from the date of the prospectus, an additional amount of shares of common stock to cover over-allotments, if any.

Citigroup Global Markets Inc. and Credit Suisse First Boston LLC will act as joint book-running managers for the offering and CIBC World Markets Corp. and Needham & Company, LLC will act as co-managers.

PortalPlayer is a fabless semiconductor company that designs, develops and markets comprehensive platform solutions, including a system-on-chip, firmware and software for manufacturers of hard disk drive and flash memory-based personal media players.

A preliminary prospectus relating to these securities is not currently available. When available, a preliminary prospectus relating to the offering may be obtained from 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.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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 in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Contact:
S. Olav Carlsen
PortalPlayer, Inc.
(408) 521-7000

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