Exhibit 99.1

                        SMSC ANNOUNCES MANAGEMENT CHANGE

Hauppauge,  NY - June 24, 2005 - SMSC (Nasdaq: SMSC) today announced that it has
been advised that William D. Shovers,  Senior Vice President and Chief Financial
Officer, received a "Wells Notice" from the staff of the Securities and Exchange
Commission (SEC) in connection with its  investigation  concerning Hayes Lemmerz
International,  Inc.,  where Mr. Shovers  previously  served as Chief  Financial
Officer.  The  matters  referenced  in the  notice do not  relate to SMSC or Mr.
Shovers'  employment by SMSC. Mr. Shovers will have an opportunity to respond to
the SEC staff before any formal  recommendation  is made, and he has advised the
Company that he intends to cooperate  with the SEC staff in an effort to resolve
the matter.

In addition, Mr. Shovers requested,  and SMSC agreed, that he be relieved of his
position as Chief Financial  Officer pending  disposition of the SEC matter.  He
will  continue  to be  employed  by  the  Company  in a  finance  and  corporate
development capacity.  SMSC's Board of Directors has appointed Andrew M. Caggia,
a Senior Vice President and Director and the former Chief  Financial  Officer of
the Company, to serve as acting Chief Financial Officer.

About SMSC:
Many of the world's most successful global  technology  companies rely upon SMSC
as a go-to resource for semiconductor system solutions that span analog, digital
and mixed-signal  technologies.  Leveraging  substantial  intellectual property,
integration  expertise and a comprehensive  global  infrastructure,  SMSC solves
design  challenges  and delivers  performance,  space,  cost and  time-to-market
advantages  to its  customers.  SMSC's  application  focus  targets key vertical
markets  including  mobile  and  desktop  PCs,  servers,  consumer  electronics,
automotive infotainment and industrial  applications.  The Company has developed
leadership  positions in its select  markets by providing  application  specific
solutions such as mixed-signal PC system controllers,  non-PCI Ethernet, ARCNET,
MOST, Hi-Speed USB and other high-speed serial communications.

SMSC is headquartered  in Hauppauge,  New York with operations in North America,
Taiwan,  Japan, Korea, China and Europe.  Engineering design centers are located
in Arizona, New York, Texas and Karlsruhe,  Germany.  Additional  information is
available at www.smsc.com.

Forward Looking Statements:

Except for historical  information  contained  herein,  the matters discussed in
this  announcement are  forward-looking  statements about expected future events
and financial and operating results that involve risks and uncertainties.  These
include the timely development and market acceptance of new products; the impact
of competitive  products and pricing; the effect of changing economic conditions
in domestic  and  international  markets;  changes in customer  order  patterns,
including loss of key customers or distributors,  order cancellations or reduced
bookings;   and  excess  or  obsolete  inventory  and  variations  in  inventory
valuation,  among others. Such statements are qualified in their entirety by the
inherent risks and  uncertainties  surrounding  future  expectations and may not
reflect  the   potential   impact  of  any  future   acquisitions,   mergers  or
divestitures.

SMSC  competes  in the  semiconductor  industry,  which  has  historically  been
characterized  by intense  competition,  rapid  technological  change,  cyclical
market patterns,  price erosion and periods of mismatched  supply and demand. In
addition,  sales of many of the Company's  products  depend  largely on sales of
personal  computers  and  peripheral  devices,  as well as general  industry and
market  conditions.  Reductions  in the  rate  of  growth  of the  PC,  consumer
electronics, embedded or automotive markets could adversely affect its operating
results.  SMSC  conducts  business  outside the United  States and is subject to
tariff and  import  regulations  and  currency  fluctuations,  which may have an
effect on its business. All forward-looking statements speak only as of the date
hereof and are based upon the  information  available to SMSC at this time. Such
information is subject to change, and the Company may not necessarily inform, or
be  required to inform,  investors  of such  changes.  These and other risks and
uncertainties,  including  potential  liability resulting from pending or future
litigation,  are detailed from time to time in the Company's  reports filed with
the SEC.  Investors are advised to read the Company's Annual Report on Form 10-K
and  quarterly  reports  on Form 10-Q  filed with the  Securities  and  Exchange
Commission,  particularly those sections entitled "Other Factors That May Affect
Future  Operating  Results" for a more  complete  discussion  of these and other
risks and uncertainties.

SMSC is a registered  trademark of Standard  Microsystems  Corporation.  Product
names and company names are trademarks of their respective holders.

Contact:
Carolynne Borders
Director of Corporate Communications
SMSC
Phone: 631-435-6626
Fax: 631-273-5550
carolynne.borders@smsc.com