Exhibit 99.1
Public Relations:                                       Investor Relations
Jeff Weir                                               Jim Foltz
(408) 721-5199                                           (408) 721-5693
jeff.weir@nsc.com                                       invest.group@nsc.com


NATIONAL SEMICONDUCTOR ANNOUNCES NEW $400 MILLION STOCK BUY-BACK PROGRAM

Santa Clara, CA March 11, 2004 - National  Semiconductor  Corporation (NYSE:NSM)
announced  today that the Board of Directors  has approved a program to buy back
up to $400 million of National's  common stock.  This stock  repurchase  program
follows a similar  $400  million  stock  buy-back  that  National  completed  in
September and October of 2003.

The new  buy-back  program is  consistent  with  National's  ongoing  efforts to
increase its return on invested capital,  which improves  shareholder value. The
timing and amounts of  specific  repurchases  will depend on market  conditions,
among other considerations.

National Semiconductor had 179,383,685 shares of common stock outstanding at the
conclusion of the third fiscal quarter, which ended February 29, 2004.

About National Semiconductor
----------------------------
National  Semiconductor,  the industry's  premier analog  company,  creates high
performance  analog devices and  subsystems.  National's  leading-edge  products
include  power  management  circuits,  display  drivers,  audio and  operational
amplifiers,  imaging  sensors  and data  conversion  solutions.  National's  key
markets include wireless handsets,  displays, PCs, networks and a broad range of
portable applications.  With headquarters in Santa Clara,  California,  National
reported  sales of $1.67  billion for fiscal  2003,  which  ended May 25,  2003.
Additional company and product information is available at www.national.com.