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Exhibit 99.1

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INTERSIL TO SELL DISCRETE POWER BUSINESS

- - Sale completes Intersil's transition to a leading communications integrated
circuit supplier
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IRVINE, CA., January 22, 2001 - Intersil Corporation (NASDAQ: ISIL) announced
today that it has entered into a definitive agreement to sell its discrete
power business to Fairchild Semiconductor International (NYSE: FCS) for
approximately $338 million in cash, completing its transition to a company
focused on wireless access and communications analog markets. Intersil
anticipates a one-time gain during the quarter ending March 30 and will use
proceeds for complementary communications acquisitions, alliances and product
development efforts.

"The sale of the discrete power business completes our transition to a
communications company and allows us to focus our resources and energy on
wireless access and communications analog  - two of the fastest growing
segments of the semiconductor industry today," said Greg Williams, Intersil's
President and CEO. "Total revenue for Intersil's remaining businesses grew
approximately 50% during calendar 2000, and our focus on high-growth
communications markets allows our gross margins to improve to greater than 50%.
What's more, our wireless access business grew more than 200% in 2000, and
we've completed several acquisitions, strategic investments and internal
product developments that position the company for future growth over the next
several years."

Intersil's wireless access business is expected to approach 40% of total
revenue in 2001 as the company has taken several steps that position the
company at the very heart of high-data-rate wireless connectivity - wirelessly
connecting people at work, on the go and at home. Intersil is the world's
leading semiconductor supplier of 11 megabit per second (Mbps) wireless
networking solutions within offices, public places and homes, and recently
announced plans to expand its PRISM(R) Wireless family to include 5GHz, 54Mbps
wireless LAN solutions. Through its recent acquisition of broadband wireless
access leader SiCOM, Inc., Intersil has also added competencies to enable
wireless point-to-point transmissions at speeds up to 155Mbps. Rounding out
Intersil's wireless access business is the company's CommLink(TM) family of
digital radios for next generation cellular basestations.

"Our wireless access business is complemented by a communications analog
business which ranks as a leading U.S. analog company," noted Williams.
"Intersil high-precision, communications analog solutions include the company's
Endura(TM) family of power management products as well as communications
integrated circuits for wired telecommunications and networking applications.
In the very near future, we plan to expand Intersil's power management
leadership into broadband gateways and Internet appliances. Intersil's
communications analog business grew by more than 60% in 2000, and continues to
gain share in targeted markets.

"We feel that our discrete power business is a good fit within Fairchild
Semiconductor, given their commitment to the power business and their
multi-market focus," said Williams. "This sale strengthens the ability of each
company to capitalize on its core competencies and we believe it is a positive
move for Intersil, Fairchild and our customers."

The discrete power sale includes the company's portfolio of discrete power
products and associated intellectual property as well as its Mountaintop,
Pennsylvania-based design, manufacturing and support operation. The company's
discrete power business is comprised of around 650 employees in design
engineering, manufacturing and sales and achieved revenues in the quarter
ending September 29, 2000 of $52.5 million. Intersil's discrete power product
portfolio includes insulated gate bipolar transistors (IGBTs), metal oxide
semiconductor field effect transistors (MOSFETs) and rectifier product
families. Transition teams comprised of employees from both companies will work
to ensure as seamless a transaction as
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possible for Intersil's discrete power customers during the sale.

Intersil anticipates that the transaction will be finalized during the first
quarter of 2001. Following completion of the discrete power sale, the company
will report revenue under the new wireless access and communications analog
business groups that reflect the completion of Intersil's transition to a
communications semiconductor company.

"Intersil is well positioned with the skills and engineering talent necessary
to take advantage of the tremendous growth opportunities in communications,"
added Williams. "The company's RF, DSP, analog and mixed-signal competencies
coupled with strong customer alliances make Intersil a global force in an
exciting, communications-driven future."

About Intersil
Irvine, California-based Intersil is a leading supplier of semiconductors,
reference designs and software for wireless access and communications analog
markets. Intersil applies analog, mixed-signal and radio frequency (RF)
expertise to the development of products tailored for high-growth
communications markets. For more information about Intersil, visit the
company's Internet homepage at www.intersil.com.

This press release contains statements relating to certain projections and
business trends concerning the wireless access and communications markets, as
well as statements concerning the impact on Intersil Holding Corporation
("Intersil") of the sale of the discrete products business, that are forward
looking statements as defined in the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements are based upon management's current
expectations, estimates, beliefs, assumptions, and projections about our
business and industry. Words such as "anticipates," "expects," "intends,"
"plans," "believes," "seeks," "estimates," "may," "will," "guidance," and
variations of these words or similar expressions are intended to identify
forward looking statements. In addition, any statements that refer to
expectations, projections or other characterizations of future events or
circumstances, including any underlying assumptions, are forward looking
statements. These forward-looking statements are not guarantees of future
performance and are subject to certain risks, uncertainties and assumptions
that are difficult to predict. Therefore, our actual results could differ
materially and adversely from those expressed in any forward-looking statements
as a result of various risk factors. Important risk factors that may cause such
material differences for Intersil in connection with the wireless access and
communications markets, as well as in connection with the business forecasts of
Intersil without the discrete power business, include, but are not limited to,
the rate at which our present and future customers and end-users adopt
Intersil's wireless access and communications technologies and products; the
timing, rescheduling or cancellation of significant customer orders; the loss
of a key customer; the timely development, production, qualification,
acceptance, availability and pricing of competing products and technologies and
the resulting effects on sales and pricing of our products; the inability to
retain and motivate key employees; silicon wafer pricing and the availability
of foundry and assembly capacity and raw materials; intellectual property
disputes; the inability to obtain and realize the benefits expected as the
result of the divestiture of our discrete products business, such as greater
strategic focus on growth in the wireless access and communications markets;
the inability to match or exceed the revenues and cash flows from the discrete
power business from our other businesses; as well as other risk factors
detailed from time to time in Intersil's filings with the U.S. Securities &
Exchange Commission ("SEC") which you may obtain for free at the SEC's website
www.sec.gov. These forward-looking statements are made only as of the date of
this press release and Intersil undertakes no obligation to update or revise
these forward-looking statements.

PRISM is a registered trademark and Endura and CommLink are trademarks of
Intersil Corporation.

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