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Cavium Networks, Inc. Announces Pricing of Initial Public Offering

MOUNTAIN VIEW, Calif., May 2, 2007 – Cavium Networks, Inc. (NASDAQ: CAVM) today announced an initial public offering of 6,750,000 shares of its common stock at a price of $13.50 per share (before underwriting discounts and commissions). Cavium Networks has granted the underwriters a 30-day option to purchase up to 1,012,500 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. Cavium Networks' common stock will be listed on the NASDAQ Global Market under the symbol "CAVM" and will begin trading Wednesday, May 2, 2007. All of the shares in the offering are being offered by Cavium Networks.

Morgan Stanley & Co. Incorporated and Lehman Brothers Inc. acted as joint book-running managers for the offering, with Thomas Weisel Partners LLC, Needham & Company, LLC and JMP Securities LLC serving as co-managers. A copy of the final prospectus relating to the offering may be obtained by contacting Morgan Stanley & Co. Incorporated, 180 Varick Street, Second Floor, New York, NY 10014, Attention: Prospectus Department, by telephone at 1-866-718-1649 or by e-mail at prospectus@morganstanley.com, or by contacting Lehman Brothers Inc., c/o Broadridge, 1155 Long Island Avenue, Edgewood, NY 11786, by e-mail at Qiana.Smith@Broadridge.com or by fax at 1-631-254-7268.

A registration statement relating to this offering was filed with, and declared effective by, the Securities and Exchange Commission. The offering is being made solely by means of a prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Cavium Networks
Cavium Networks is a provider of highly integrated semiconductor products that enable intelligent processing in networking, communications and security applications. Cavium Networks offers a broad portfolio of integrated, software compatible processors ranging in performance from 10 Mbps to 10 Gbps that enable secure, intelligent functionality in enterprise, data-center, broadband & consumer and access & service provider equipment. Cavium Networks processors are supported by ecosystem partners that provide operating systems, tool support, reference designs and other services. Cavium Networks principal offices are in Mountain View, CA with design team locations in California, Massachusetts and India. For more information, please visit: http://www.caviumnetworks.com

For additional information, contact:

Media Contact:
Deborah Stapleton
Stapleton Communications Inc.
Telephone: (650) 470-4200
Email: deb@stapleton.com




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