Centillium Communications, Inc.

Laurie Falconer
Centillium Communications, Inc.
(510) 771-3647
[email protected]

CENTILLIUM COMMUNICATIONS ANNOUNCES RESIGNATION OF CHIEF FINANCIAL OFFICER

Company Appoints Darrel Slack Interim Chief Financial Officer

FREMONT, Calif., August 24, 2001 - Centillium Communications, Inc. [Nasdaq: CTLM], innovator of broadband communications technology, announces today the resignation of its Chief Financial Officer, John Luhtala. Mr. Luhtala joined Centillium Communications in December 1999 as Vice President and Chief Financial Officer. Mr. Luhtala will assist the Company to ensure a smooth transition of financial responsibilities.

The Company has appointed Darrel Slack as Interim Chief Financial Officer. Mr. Slack joined Centillium in May 2000 as Director, Business Development and has managed the Company's strategic acquisition and business development efforts. Prior to joining Centillium, Mr. Slack worked as an investment banker with Credit Suisse First Boston covering communications semiconductor companies. Mr. Slack earned an MBA from Stanford University after serving for ten years with the US Air Force as an instructor pilot and flight commander.

The Company is engaged in a search for Mr. Luhtala's successor.

Faraj Aalaei, Chief Executive Officer of Centillium Communications, said, ``John has made many valuable contributions to this Company's success including the completion of our initial public offering and the achievement of profitability one year ahead of our original business plan. John leaves at a time when the Company is profitable and debt-free, with a healthy balance sheet. We wish him the best.''

"We are very pleased to have Darrel as our Interim Chief Financial Officer. Darrel is an extremely capable financial executive who understands our business well and we are confident that the transition to his leadership will be virtually seamless," added Mr. Aalaei.

About Centillium Communications
Centillium Communications, Inc. is combining technical innovation and customer commitment to make broadband communications a market reality. Centillium consistently delivers value to its customers by providing broadband networking systems for applications across all market segments. The company designs and markets communications chipset solutions for central office equipment, digital loop carrier (DLC) line cards, and customer premise equipment for Digital Subscriber Line (DSL), Voice over Packet (VoP) and Premise Networking. The Centillium Communications headquarters are located at 47211 Lakeview Blvd., Fremont, CA 94538. Additional information is available at www.centillium.com.

Forward Looking Statements
Except for historical information contained in this press release, the foregoing contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements based on a variety of risks and uncertainties, including the risks and uncertainties relating to actual quantities and timing of any orders received under the contract and the successful development and market acceptance of Centillium's new products. The company assumes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof. Information about potential factors that could affect Centillium's financial results is included in Centillium's Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, available for viewing on the Securities and Exchange Commission's website at www.sec.gov.

Centillium Communications and the Centillium logo are trademarks of Centillium Communications.