Fairchild Semiconductor Chooses PayMode to Make and Receive Business-to-Business Payments

Leading Global Electronics Supplier to Increase Productivity and Improve Supplier Relationships with Electronic Payment Capability

PORTLAND, ME — July 17, 2001 — Fairchild Semiconductor (NYSE: FCS) has chosen PayMode®, the only business-to-business electronic payment solution available in today’s market, to make secure, electronic payments to its vendors, suppliers and service providers. With PayMode, Fairchild Semiconductor will streamline its accounts payable process, strengthen relationships with suppliers and lower its costs of disbursing payments.

PayMode’s business payment solution will become integrated with Fairchild’s existing PeopleSoft accounts payable system. This will allow Fairchild, recently named among the 100 best performing technology companies in the world by Business Week, to make electronic payments to its vendors while working within its current accounts payable environment. The integration will be completed without necessitating changes to Fairchild’s treasury workflow or IT infrastructure, therefore avoiding any disruption to Fairchild’s operations.

Fairchild Semiconductor International is a leading global supplier of high performance products for multiple end markets. With a focus on developing leading edge power and interface solutions to enable the electronics of today and tomorrow, Fairchild’s components are used in computing, communications, consumer, industrial, automotive and aerospace applications.

Contact: Ann McCormick , 207-771-3769,  ann_f_mccormick@fleet.com