Exhibit 99.1



PLX TECHNOLOGY, INC. REPORTS FOURTH-
QUARTER AND FISCAL YEAR 2003 FINANCIAL RESULTS



SUNNYVALE, Calif. - (January 21, 2004) - PLX
Technology, Inc. (NASDAQ: PLXT) today announced financial results for the fourth
quarter and fiscal year ended December 31, 2003.



For the fourth quarter, PLX reported net revenues of $10.6
million, a 3 percent increase from the $10.3 million reported for the third
quarter of 2003 and a 24 percent increase from the $8.6 million reported for the
fourth quarter of 2002.



Net income under U.S. generally accepted accounting
principles (GAAP), which included the effect of acquisition-related costs, was
$0.3 million, or $0.01 per share (diluted), for the fourth quarter of 2003.
This compared with a net loss under GAAP of $0.2 million, or a loss of $0.01 per
share (diluted), for the prior-year quarter and net income under GAAP of $0.1 million,
or $0.01 per share (diluted), for the third quarter of 2003.



Pro forma net income for the fourth quarter of 2003, which
excluded the effect of acquisition-related costs, was $0.6 million, or $0.03 per
share (diluted).  This compared with pro forma net income of $0.4 million, or
$0.02 per share (diluted), for the prior year quarter and $0.6 million, or $0.02 per
share (diluted), for the third quarter of 2003. A reconciliation between net income
(loss) under GAAP and pro forma net income is provided in a table immediately
below the Pro Forma Consolidated Statements of Operations.



The company's gross margin for the fourth quarter was 72
percent.  As a result of the sale of previously written-down inventory, PLX
recorded a benefit of approximately $0.2 million, accounting for two gross
margin percentage points, for the fourth quarter.



At December 31, 2003, cash and
investments increased to $23.1 million from $21.7 million at year-end 2002.



"We're pleased with our fourth-quarter and full-year
2003 financial performance," said Mike Salameh, president of PLX
Technology.  "Fourth-quarter revenues grew 24 percent year over year and 3
percent sequentially, while fiscal 2003 marked PLX's tenth consecutive year of
pro forma profitability.  Despite using cash for stock repurchases and an
acquisition, we also continued to grow our cash balance on a quarterly basis, as
we have done for the last two years.



"We have had continued success with
our two focus initiatives, PCI Express and PCI-to-PCI bridges.  In the fourth
quarter, we started testing the interoperability of our PCI Express solutions
with computer system and test equipment vendors, an important step in PLX
product development.  We also continued to win designs with our recently
acquired PCI-to-PCI bridge products."



Net revenues for fiscal year 2003 were $38.0 million, a 9
percent increase from the $34.8 million reported for 2002.  Net loss under GAAP
for the full year was $2.3 million, or a loss of $0.10 per share (diluted),
compared with a net loss of $2.3 million, or a loss of $0.10 per share
(diluted), for the prior year.  Pro forma net income for 2003 was $0.5 million,
or $0.02 per share (diluted), compared with pro forma net income of $0.3
million, or $0.01 per share (diluted), for 2002.



PLX management currently estimates net revenues of between
$10.5 and $11.5 million for the first quarter of 2004.  The company anticipates
that first-quarter gross margin will remain in the 68 to 71 percent range.
Operating expenses under GAAP are expected to be from $7.7 to $7.9 million.  On
a pro forma basis, which excludes estimated acquisition-related costs of
approximately $0.3 million, operating expenses are anticipated to be between
$7.4 and $7.6 million.  This range is higher than pro forma operating expenses
for the fourth quarter, due principally to expected tooling charges for new
products.



PLX management plans to conduct a conference call today at
2:00 p.m. PST to discuss its fourth-quarter and full-year financial results, as
well as its first-quarter outlook.  There will also be a live Webcast and a
replay of the conference call available
through the Investors section of the PLX Web site at



For the live Webcast, listeners should go to the Web site at
least 15 minutes before the event starts to download and install any necessary
audio software.  The archived Webcast is typically available one to two hours
after the end of the live call.



USE OF PRO FORMA FINANCIAL INFORMATION: In
addition to reporting financial results in accordance with generally accepted
accounting principles, or GAAP, PLX reports pro forma financial results. Pro
forma net income and earnings per share exclude acquisition-related
charges, such as amortization of deferred compensation and other
intangibles, as well as the tax effect of these items. PLX's management believes
these pro forma measures are useful to investors because they provide
supplemental information that facilitates comparisons to prior periods.
Management uses these pro forma measures to evaluate its financial results,
develop budgets and manage expenditures. The method PLX uses to produce pro
forma results is not computed according to GAAP, is likely to differ from the
methods used by other companies and should not be regarded as a replacement for
corresponding GAAP measures. Investors are encouraged to review the
reconciliation of these pro forma financial measures to the comparable GAAP
results, which is provided in a table immediately below the Pro Forma
Consolidated Statements of Operations.



About PLX

PLX Technology, Inc. (www.plxtech.com), based in
Sunnyvale, Calif., USA, is the leading supplier of standard I/O interconnect
silicon to the communications, server, storage and embedded-control industries.
The PLX solution provides a competitive edge to customers through an integrated
combination of high-performance silicon, hardware and software design tools, and
partnerships.  These innovative solutions are designed to enable customers to
develop communications equipment with industry-leading performance, scalability
and reliability.  Furthermore, the combination of PLX product features,
supporting development tools and partnerships allows customers to bring their
designs to market faster.  PLX PCI I/O Accelerator and HyperTransport Tunnel-to-
Dual PCI-X devices are designed into a wide variety of embedded PCI
communication systems, including switches, routers, line cards, media gateways,
base stations, access multiplexors and remote access concentrators.





SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995

This release includes statements that qualify as forward-looking
statements under the Private Securities Litigation Reform Act of 1995.
These include statements about the company's estimated revenues, estimated
expenses, estimated margins, and estimated ongoing acquisition-related costs for
the first quarter of 2004, and the expected broadening of the company's exposure
to new customers and design opportunities.
Such statements involve risks and
uncertainties which may cause actual results to differ materially from those set
forth in the statements.  Factors that could cause actual results to differ
materially include risks and uncertainties, such as reduced demand for products
of electronic equipment manufacturers which include the company's products, due
to adverse economic conditions in general or those specifically affecting the
company's markets, technical difficulties and delays in the development process,
errors in the products, reduced backlog for the company's customers, unexpected
expenses, and the political climate.  Please refer to the documents filed by the
company with the SEC from time to time, including, but not limited, to the
Annual Report on Form 10-K for the year ended December 31, 2002 and the
Quarterly Report on Form 10-Q for the quarter ended September 30, 2003, both of
which identify important risk factors that could cause actual results to differ
from those contained in the forward-looking statements.  All forward-looking
statements are made as of today, and the company assumes no obligation to update
such statements.

|Editorial contact:                    | Company contact:              
|------------------------------------- | ------------------------------
|Jerry Steach                          | Rafael Torres, CFO            
|CommonGround Communications (for PLX) | PLX Technology, Inc.          
|Tel: 415.567.0899                     | Tel: 408.774.9060             
|jsteach@plxtech.com                   | investor-relations@plxtech.com



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PLX TECHNOLOGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

                            (Unaudited)

(in thousands, except per share amounts)

`Three months ended                 Twelve Months Ended
                                                             --------------------------------------      December 31,
                                                             December 31,  December 31,  September 30----------------------
                                                                 2003          2002         2003        2003        2002
                                                             ------------  ------------  ----------  ----------  ----------
Net revenues............................................... $     10,592  $      8,556  $   10,283  $   38,038  $   34,810
Cost of revenues...........................................        2,988         2,675       2,846      10,867      10,852
                                                             ------------  ------------  ----------  ----------  ----------
Gross margin...............................................        7,604         5,881       7,437      27,171      23,958
                                                             ------------  ------------  ----------  ----------  ----------
Operating expenses:
  Research and development.................................        3,626         3,514       3,816      15,048      14,256
  Selling, general and administrative......................        3,562         2,646       3,301      13,114      12,433
  In-process research and development......................           --            --          --         875          --
  Amortization of purchased intangible assets..............          297           133         297         931         533
                                                             ------------  ------------  ----------  ----------  ----------
Total operating expenses...................................        7,485         6,293       7,414      29,968      27,222
                                                             ------------  ------------  ----------  ----------  ----------
Income (loss) from operations..............................          119          (412)         23      (2,797)     (3,264)
Interest income and other, net.............................          219           260         138         567       1,004
                                                             ------------  ------------  ----------  ----------  ----------
Income (loss) before provision for income taxes............          338          (152)        161      (2,230)     (2,260)
Provision for income taxes.................................           13            49          32          29          60
                                                             ------------  ------------  ----------  ----------  ----------
Net income (loss).......................................... $        325  $       (201) $      129  $   (2,259) $   (2,320)
                                                             ============  ============  ==========  ==========  ==========

Basic net income (loss) per share.......................... $       0.01  $      (0.01) $     0.01  $    (0.10) $    (0.10)
                                                             ============  ============  ==========  ==========  ==========
Shares used to compute basic per share amounts.............       23,833        21,204      23,797      22,755      22,785
                                                             ============  ============  ==========  ==========  ==========
Diluted net income (loss) per share........................ $       0.01  $      (0.01) $     0.01  $    (0.10) $    (0.10)
                                                             ============  ============  ==========  ==========  ==========
Shares used to compute diluted per share amounts...........       24,929        21,204      24,442      22,755      22,785
                                                             ============  ============  ==========  ==========  ==========`



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PLX TECHNOLOGY, INC.

          PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS

  (Excluding Acquisition-Related Costs and Amortization of Intangible Assets)

                            (Unaudited)

(in thousands, except per share amounts)

`Three months ended                 Twelve Months Ended
                                                             --------------------------------------      December 31,
                                                             December 31,  December 31,  September 30----------------------
                                                                 2003          2002         2003        2003        2002
                                                             ------------  ------------  ----------  ----------  ----------
Net revenues............................................... $     10,592  $      8,556  $   10,283  $   38,038  $   34,810
Cost of revenues...........................................        2,988         2,675       2,846      10,867      10,852
                                                             ------------  ------------  ----------  ----------  ----------
Gross margin...............................................        7,604         5,881       7,437      27,171      23,958
                                                             ------------  ------------  ----------  ----------  ----------
Operating expenses:
  Research and development.................................        3,615         3,056       3,713      14,118      12,221
  Selling, general and administrative......................        3,548         2,646       3,287      13,077      12,348
                                                             ------------  ------------  ----------  ----------  ----------
Total operating expenses...................................        7,163         5,702       7,000      27,195      24,569
                                                             ------------  ------------  ----------  ----------  ----------
Income (loss) from operations..............................          441           179         437         (24)       (611)
Interest income and other, net.............................          219           260         138         567       1,004
                                                             ------------  ------------  ----------  ----------  ----------
Income before provision for income taxes...................          660           439         575         543         393
Provision for income taxes.................................           13            49           4          29          60
                                                             ------------  ------------  ----------  ----------  ----------
Net income................................................. $        647  $        390  $      571  $      514  $      333
                                                             ============  ============  ==========  ==========  ==========

Basic net income per share................................. $       0.03  $       0.02  $     0.02  $     0.02  $     0.01
                                                             ============  ============  ==========  ==========  ==========
Shares used to compute basic per share amounts.............       23,833        21,204      23,797      22,755      22,785
                                                             ============  ============  ==========  ==========  ==========
Diluted net income per share............................... $       0.03  $       0.02  $     0.02  $     0.02  $     0.01
                                                             ============  ============  ==========  ==========  ==========
Shares used to compute diluted per share amounts...........       24,929        21,204      24,442      23,272      22,785
                                                             ============  ============  ==========  ==========  ==========
                                                                                                                           
A reconciliation between net income (loss) on a GAAP basis and pro forma net income is as follows:                         

GAAP net income (loss)..................................... $        325  $       (201) $      129  $   (2,259) $   (2,320)
In-process research and development........................           --            --          --         875          --
Amortization of deferred stock-based compensation..........           25           458         117         967       2,120
Amortization of purchased intangible assets................          297           133         297         931         533
Income tax effect..........................................           --            --          28          --          --
                                                             ------------  ------------  ----------  ----------  ----------
Pro forma net income....................................... $        647  $        390  $      571  $      514  $      333
                                                             ============  ============  ==========  ==========  ==========`



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PLX TECHNOLOGY, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

`December 31,  December 31,
                                                      2003        2002(1)
                                                  ------------  ------------
                                                   (unaudited)
ASSETS                                                                      
  Cash and investments.......................... $     23,056  $     21,680
  Accounts receivable, net......................        4,998         2,568
  Inventories...................................        1,893         1,003
  Income tax receivable.........................           --         3,635
  Property and equipment, net...................       31,068        31,962
  Goodwill......................................       15,998         8,054
  Other intangible assets.......................        2,730           970
  Other assets..................................        2,060         2,103
                                                  ------------  ------------
Total assets.................................... $     81,803  $     71,975
                                                  ============  ============
                                                                            
LIABILITIES                                                                 
  Accounts payable.............................. $      1,768  $      1,582
  Accrued compensation and benefits.............        1,427           932
  Deferred revenues.............................          991           613
  Accrued commissions...........................          368           201
  Other accrued expenses........................        1,228           683
                                                  ------------  ------------
Total liabilities...............................        5,782         4,011
                                                  ------------  ------------
                                                                            
STOCKHOLDERS' EQUITY                                                        
  Common stock, par value.......................           24            21
  Additional paid-in capital....................       84,508        74,953
  Deferred compensation.........................          (44)         (900)
  Notes receivable for employee stock purchases.          (70)          (67)
  Accumulated other comprehensive income........          (49)           46
  Accumulated deficit...........................       (8,348)       (6,089)
                                                  ------------  ------------
Total stockholders' equity......................       76,021        67,964
                                                  ------------  ------------
Total liabilities and stockholders' equity...... $     81,803  $     71,975
                                                  ============  ============`

(1)  Derived from audited financial statements

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