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TheStreet Open House

DSP Group Issues Letter To Shareholders Regarding Potential Proxy Contest

Stock quotes in this article: DSPG

SAN JOSE, Calif., March 9, 2013 (GLOBE NEWSWIRE) -- DSP Group ®, Inc. (Nasdaq:DSPG), a leading global provider of wireless chipset solutions for converged communications, issued today the following letter to its shareholders:

March 9, 2013

Dear Fellow Shareholders:

During the last several days we had many conversations with Starboard with the goal of avoiding a proxy contest, without granting Starboard the power to dictate or block corporate policies, a resolution which the board of directors does not consider to be in the best interest of DSPG and the vast majority of stockholders. As we reported to you, in light of Starboard's demands we have unfortunately not been able as of yet to achieve such a resolution.

However, our March 8, 2013 letter to you did not correctly reflect the last and final position proposed by Starboard. Starboard's proposal included the formation of a new strategic board committee, consisting of four members, two of whom would be Starboard nominees and the chairman of which would be a Starboard nominee as well. Thus, Starboard's control of that committee would be negative control, the ability to prevent it from taking any action, not the ability to compel it to act.

We remain committed both to doing the right thing for the company and all of its stockholders, being open-minded to ideas and suggestions from all quarters, including Starboard, and to continuing to seek an amicable agreement with Starboard, a 10% stockholder, that would avoid the distraction and expense of a proxy contest without giving Starboard effective control of the board and its committees.

A corrected version of our March 8 letter is enclosed for your convenience.

DSP Group Issues a Letter to Shareholders Regarding Potential Proxy Contest

SAN JOSE, Calif., March 8, 2013 -- DSP Group ®, Inc. (Nasdaq:DSPG), a leading global provider of wireless chipset solutions for converged communications, issued today the following letter to its shareholders:

March 9, 2013

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