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[angeldusty]

STMICROELECTRONICS AND 8x8 ANNOUNCE
STRATEGIC PARTNERSHIP
ST and 8x8 to jointly develop chips for Voice over Internet Protocol
(VoIP) applications; ST to Take Equity Position in 8x8

GENEVA and SANTA CLARA, Calif, January 24, 2000 - STMicroelectronics
(NYSE: STM) and 8x8, Inc. (NASDAQ: EGHT) announced today that the two
companies have formed a strategic partnership to develop and market
semiconductor products for Voice over Internet Protocol (VoIP) applications.
The partnership consists of a technology license agreement, under which ST
will license 8x8`s VoIP software and digital signal processor (DSP)
technology, and the joint development of certain VoIP integrated circuits (ICs).
In addition, ST will purchase 3.7 million shares of 8x8 common stock at a
price of $7.50 per share for a total investment of $27.75 million. This price
represents a slight premium over the average closing price of 8x8 stock for the
past 15 days. ST is one of the world`s largest semiconductor suppliers and,
according to market research firm Dataquest, among the leading suppliers of
ICs for digital consumer applications, in particular for digital set top boxes. 8x8
is a leading supplier of VoIP communication solutions.

"8x8 has world-class VoIP software and DSP technology," noted Alain
Dutheil, ST`s Corporate Vice President for Strategic Planning & Human
Resources. "8x8 has optimized its VoIP technology for consumer broadband
devices. Its technology is efficient, commercially proven and is an excellent
complement to ST`s broadband access and microcontroller expertise. The
combination of the two companies` know-how will allow ST to dramatically
expand its existing range of chipsets for cable terminals and digital subscriber
line (DSL) modems with multi-line VoIP capability."

Delivering inexpensive telephone services to consumers by leveraging the
existing broadband access infrastructure is widely perceived as a key driver of
revenue growth for the cable and telecommunications industries. Some of the
major operators and service providers are investing heavily to upgrade their
cable and DSL networks to support voice service. Delivering cost-effective
telephone service over broadband networks requires the use of a
packet-switched technology like VoIP. This technology allows many users to
share a single wire rather than having to use a dedicated line as is required
with traditional circuit-switched technology.

Inexpensive VoIP telephones or telephone adapters are key to deploying VoIP
telephone services. As broadband technology matures, adapters will be built
into cable set-top boxes, cable modems or DSL modems, in a market which
is expected to exceed six million units by 2004, according to market research
firm Forward Concepts. At the heart of these adapters, or VoIP telephones, is
a microcontroller for call control processing and a DSP for audio compression.

"We are very excited to partner with ST, a recognized leader in semiconductor
design, marketing and manufacturing worldwide," said Paul Voois, 8x8`s
chairman and CEO. "As one of the leading suppliers of system-on-chip
solutions for cable set-top box, DSL modem and wireless handset
manufacturers, ST is one of the major players in the broadband
communications market. ST`s market presence will expand and accelerate the
deployment of 8x8`s VoIP technology."

About the License Agreement
Under the terms of this agreement, ST receives a non-exclusive
royalty-bearing license for 8x8`s VoIP software and its next-generation VP7
DSP core. 8x8 VoIP software includes industry-standard call control
protocols, such as the Media Gateway Control Protocol (MGCP), H.323 and
Session Initiation Protocol (SIP). 8x8`s voice compression software, which is
based on the G.7xx series of ITU standards, is specially optimized to run on
embedded DSP cores. Support for a broad range of codecs, which run at data
rates up to 64 Kbit per second, allows service providers maximum flexibility in
managing their networks.

About the Development Agreement
The companies have entered into an agreement that provides a framework for
the joint development of ICs and that defines two initial projects. The first
project under this agreement will combine 8x8`s next generation DSP engine
with ST`s microcontroller and analog IC technology to produce a VoIP-enabled
chipset for cable modems and cable TV set-top boxes. In the second project,
8x8 will adapt its communications stacks to ST`s industry-standard
microcontroller cores and its codec technology to the ST100 DSP core. The
resulting voice-enabled devices will be used in DSL modems, telephony
gateways, wireless equipment and IP telephones.

About the Investment
ST will purchase 3.7 million shares of 8x8 common stock in a private
placement at $7.50 per share for a total of $27.75 million. The sale of common
stock to ST and initiation of the strategic partnership is subject to customary
conditions, including expiration of applicable waiting periods under the
Hart-Scott-Rodino Act. In addition, a designee of ST will be appointed to 8x8`s
board of directors, increasing its size to eight members.