Exhibit 99 - PMC-Sierra, Inc. Press Release issued July 31, 2001.

News Release

RELEASED JULY 31ST, 2001

PMC-Sierra Contacts:


                                                         
John W. Sullivan                David Climie                   Glen Kayll
Chief Financial Officer         Manager, Investor Relations    Treasurer
Tel: 1 408 988 7785             Tel: 1 408 988 8276            Tel: 1 604 415 6162
john_sullivan@pmc-sierra.com    david_climie@pmc-sierra.com    glen_kayll@pmc-sierra.com


                     PMC-SIERRA ANNOUNCES PRICING OF 3.75%
                    CONVERTIBLE SUBORDINATED NOTES DUE 2006

Santa Clara, CA - July 31, 2001 -- PMC-Sierra, Inc. (Nasdaq: PMCS), today
announced that it has completed the pricing of $225 million of Convertible
Subordinated Notes due 2006 ($275 million if the initial purchaser exercises in
full its option to purchase additional notes) in a private placement. Interest
on the notes will accrue at an annual rate of 3.75%. The notes will mature on
August 15th, 2006 and are convertible into PMC-Sierra common stock at a
conversion price of approximately $42.43 per share, subject to adjustment. The
closing of the offering is subject to customary closing conditions.

PMC-Sierra intends to use the net proceeds of the anticipated offering for
working capital and other general corporate purposes.

This announcement is neither an offer to sell nor a solicitation of an offer to
buy any of these securities.

The notes and the common stock issuable upon conversion of the notes have not
been registered under the Securities Act of 1933, as amended (the "Securities
Act") or any state securities laws, and are being offered only to qualified
institutional buyers in reliance on Rule 144A under the Securities Act. Unless
so registered, the notes and common stock issued upon conversion of the notes
may not be offered or sold in the United States except pursuant to an exemption
from the registration requirements of the Securities Act and applicable state
securities laws.

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