EL SEGUNDO, Calif.--Jan. 21, 2004--International Rectifier Corporation (NYSE:IRF) today announced that the company and Hitachi, Ltd. and Renesas Technology Corp. (a joint venture of Hitachi and Mitsubishi Electric Corporation established in April 2003) have settled all outstanding litigation in the United States and Japan between the companies. The agreement also provides for a patent cross-license agreement between International Rectifier (IR) and Hitachi/Renesas that replaces the agreement between IR and Hitachi that expired in March 2000. The terms of the agreement are undisclosed.

As a leader in power management, IR maintains a broad portfolio of power management patents. More than 20 companies have licensed IR's fundamental MOSFET/IGBT patents. Power MOSFETs and IGBTs are power transistors used to improve circuit performance and energy efficiency in a broad range of applications, and worldwide sales of these products total more than $4.5 billion annually.

About International Rectifier

International Rectifier Corporation (NYSE:IRF) is a world leader in power management technology. IR's analog and mixed signal ICs, advanced circuit devices, integrated power systems and components enable high performance computing and reduce energy waste from motors, the world's single largest consumer of electricity. Leading manufacturers of computers, energy-efficient appliances, lighting, automobiles, satellites, aircraft and defense systems rely on IR's power management benchmarks to power their next-generation products. For more information, go to www.irf.com.

CONTACT: International Rectifier Corporation
Steve Harrison, 310-252-7731

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding International Rectifier's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.