ACTEL CORPORATION Q1 2003 EARNINGS RELEASE


Contact: Jon Anderson, Actel Corporation (408) 522-4445



For Release: April 23, 2003 @ 1:00 P.M. PDT



                      ACTEL ANNOUNCES FIRST QUARTER RESULTS




     Sunnyvale,  Calif. - Actel Corporation  (NASDAQ:  ACTL) today announced net
revenues of $34.3  million for the first  quarter of 2003, up 4 percent from the
first quarter of 2002 and up 1 percent from the fourth quarter of 2002.



     Pro-forma net income, which excludes  acquisition-related  amortization and
other  non-operating  charges,  was $0.9 million for the first  quarter of 2003,
down 23 percent from the first quarter of 2002 and down 36 percent sequentially.
Pro-forma  earnings  were $0.04 per diluted  share,  compared with $0.05 for the
first quarter of 2002 and $0.06 for the fourth quarter of 2002.



     Including all  amortization  and other costs in accordance  with  generally
accepted  accounting  principles  (GAAP),  Actel  reported  net  income  of $0.2
million,  or $0.01 per share,  for the first  quarter of 2003  compared with net
income of $0.4 million,  or $0.02 per share, for the first quarter of 2002 and a
net loss of $1.8 million, or ($0.08) per share, for the fourth quarter of 2002.



     Gross margin was 57.1 percent for the first  quarter of 2003  compared with
61.3  percent  for the first  quarter  of 2002 and 60.4  percent  for the fourth
quarter of 2002.



     John East,  president  and CEO,  stated,  "Our design starts are up and our
bookings  are up,  so I'm  feeling  really  good.  Our  flash  design  starts in
particular continued to ramp, increasing for the fifth straight quarter."



     A conference  call to discuss fourth quarter  results will be held today at
2:30  p.m.  Pacific  Time.  A live  web  cast and  replay  of the  call  will be
available. Web cast and replay access information as well as financial and other
statistical  information  can be found on Actel's  web site,  www.actel.com.  In
addition,  a financial  update will be made  available on Actel's web site after
the  market  close  on June  12,  2003.  A  recorded  message  with  the  update
information will also be available at 408.522.7500.



     Actel Corporation is a supplier of innovative programmable logic solutions,
including  field-programmable  gate arrays  (FPGAs)  based on antifuse and flash
technologies,   high-performance  intellectual  property  (IP)  cores,  software
development   tools  and   design   services,   targeted   for  the   high-speed
communications,  application-specific  integrated circuit (ASIC) replacement and
radiation-tolerant  markets.  Founded in 1985, Actel employs  approximately  500
people worldwide.  The Company is traded on the Nasdaq National Market under the
symbol ACTL and is headquartered at 955 East Arques Avenue,  Sunnyvale,  Calif.,
94086-4533. Telephone: 888-99-ACTEL (992-2835). Internet:  http://www.actel.com.



     Actel's  operating  results are subject to a multitude  of risks that could
cause actual results to differ  materially  from past or projected  performance,
including  general economic  conditions and a variety of risks specific to Actel
or  characteristic of the semiconductor  industry,  such as fluctuating  demand,
intense  competition,   rapid  technological  change  and  related  intellectual
property and international trade issues,  wafer and other supply shortages,  and
booking and shipment uncertainties.  For a discussion of these and other factors
that could have a materially adverse effect on Actel's operating results, please
see "Risk  Factors" in Actel's  most recent  Forms 10-K and 10-Q,  which will be
provided to you free of charge upon request.


Editor's Note: The Actel name and logo are trademarks of Actel Corporation.  All
other trademarks and servicemarks are the property of their respective owners.



<PAGE>


                                ACTEL CORPORATION

                      CONSOLIDATED STATEMENTS OF OPERATIONS
               (unaudited, in thousands except per share amounts)
<TABLE>
<CAPTION>


                                                                                        Three Months Ended
                                                                               --------------------------------------
                                                                                  Apr. 6,      Apr. 7,       Jan. 5,
                                                                                   2003         2002          2003
                                                                               ----------    ----------    ----------
<S>                                                                            <C>           <C>           <C>
Net revenues............................................................       $   34,341    $   33,060    $   34,103
Costs and expenses:
   Cost of revenues.....................................................           14,729        12,784        13,512
   Research and development.............................................            9,513         9,737        10,135
   Selling, general, and administrative.................................           11,032        10,711        10,726
   Amortization of goodwill and other
      acquisition-related intangibles...................................              681           681           681
                                                                               ----------    ----------    ----------
         Total costs and expenses.......................................           35,955        33,913        35,054
                                                                               ----------    ----------    ----------
Income (loss) from operations...........................................           (1,614)         (853)         (951)
Interest income and other, net..........................................              992         1,365        (1,716)
                                                                               ----------    ----------    ----------
Income (loss) before tax (benefit) provision............................             (622)          512        (2,667)
Tax (benefit) provision.................................................             (853)          117          (836)
                                                                               ----------    ----------    ----------
Net income (loss).......................................................       $      231    $      395    $   (1,831)
                                                                               ==========    ==========    ==========

Net income (loss) per share:
   Basic................................................................       $     0.01    $     0.02    $    (0.08)
                                                                               ==========    ==========    ==========
   Diluted..............................................................       $     0.01    $     0.02    $    (0.08)
                                                                               ==========    ==========    ==========

Shares used in computing net income (loss) per share:
   Basic................................................................           24,338        24,170        24,126
                                                                               ==========    ==========    ==========
   Diluted..............................................................           25,087        25,388        24,126
                                                                               ==========    ==========    ==========
</TABLE>




<PAGE>


                                ACTEL CORPORATION

                              PRO-FORMA INFORMATION
                   EXCLUDING ACQUISITION-RELATED AMORTIZATION
                                AND OTHER CHARGES
                    (in thousands, except per share amounts)

     The following pro-forma supplemental  information adjusts for the effect of
acquisition-related  amortization  and  other  non-operating  charges.  Not  all
acquisition-related amortization charges are deductible for income tax purposes.
The tax  implications of these items have been included in the  determination of
pro-forma net income.  This pro-forma  information is not prepared in accordance
with generally accepted accounting principles (GAAP).
<TABLE>
<CAPTION>

                                                                                        Three Months Ended
                                                                               --------------------------------------
                                                                                  Apr. 6,      Apr. 7,       Jan. 5,
                                                                                   2003         2002          2003
                                                                               ----------    ----------    ----------
<S>                                                                          <C>           <C>           <C>
Pro-forma operating costs and expenses..................................       $   20,545    $   20,448    $   20,861
Pro-forma operating (loss)..............................................       $     (933)   $     (172)   $     (270)
Pro-forma net income....................................................       $      912    $    1,184    $    1,424
Pro-forma basic earnings per share......................................       $     0.04    $     0.05    $     0.06
Pro-forma diluted earnings per share....................................       $     0.04    $     0.05    $     0.06
</TABLE>


                        PRO-FORMA TO GAAP RECONCILIATION
                            (unaudited, in thousands)
<TABLE>
<CAPTION>

                                                                                        Three Months Ended
                                                                               --------------------------------------
                                                                                  Apr. 6,      Apr. 7,       Jan. 5,
                                                                                   2003         2002          2003
                                                                               ----------    ----------    ----------

<S>                                                                            <C>           <C>           <C>
Pro-forma net income....................................................       $      912    $    1,184    $    1,424
Amortization of goodwill and other acquisition-related intangibles......             (681)         (681)         (681)
Losses on sales and write-downs of strategic equity investments, net of
  tax...................................................................                -          (108)       (2,574)
                                                                               ----------    ----------    ----------
GAAP net income (loss)..................................................       $      231    $      395    $   (1,831)
                                                                               ============  ==========    ==========
</TABLE>




<PAGE>


                                ACTEL CORPORATION

                           CONSOLIDATED BALANCE SHEETS
                            (unaudited, in thousands)
<TABLE>
<CAPTION>

                                                                                              Apr. 6,      Jan. 5,
                                                                                               2003         2003
                                                                                           ------------  ------------
                                     ASSETS

<S>                                                                                       <C>            <C>
Current assets:
   Cash and cash equivalents...........................................................    $     14,302  $     18,207
   Short-term investments..............................................................         124,486       115,622
   Accounts receivable, net............................................................          17,982        17,615
   Inventories, net....................................................................          32,873        34,591
   Deferred income taxes and other current assets......................................          27,985        33,022
                                                                                           ------------  ------------
         Total current assets..........................................................         217,628       219,057
Property and equipment, net............................................................          16,630        16,204
Goodwill, net..........................................................................          32,142        32,142
Other assets, net......................................................................          26,490        25,918
                                                                                           ------------  ------------
                                                                                           $    292,890  $    293,321
                                                                                           ============  ============


                      LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
   Accounts payable....................................................................    $      9,607  $     11,500
   Accrued salaries and employee benefits..............................................           5,203         7,280
   Other accrued liabilities...........................................................           3,760         3,879
   Deferred income on shipments to distributors .......................................          26,582        26,459
                                                                                           ------------  ------------
         Total current liabilities.....................................................          45,152        49,118
Deferred compensation plan liability...................................................           1,926         1,889
                                                                                           ------------  ------------
         Total liabilities.............................................................          47,078        51,007
Shareholders' equity...................................................................         245,812       242,314
                                                                                           ------------  ------------
                                                                                           $    292,890  $    293,321
                                                                                           ============  ============
</TABLE>




