PRESS RELEASE DATED JULY 22, 1996

[LETTERHEAD OF ADVANCED MICRO DEVICES]


NEWS RELEASE EXHIBIT 99


For further information:
Scott Allen
(408) 749-3311


AMD COMMENCES UNDERWRITTEN OFFERING,
ENTERS INTO NEW CREDIT AGREEMENT


SUNNYVALE, CA - JULY 22, 1996 - AMD announced today that it is commencing
an underwritten offering of up to $400,000,000 of its senior secured notes due
2003, pursuant to its shelf-registration statement filed with the Securities and
Exchange Commission declared effective in 1994. Donaldson, Lufkin & Jenrette
Securities Corporation and BA Securities, Inc. are acting as underwriters of the
offering. The rate of interest on the notes will be determined prior to their
sale.

AMD also announced that it has entered into a new credit agreement with
Bank of America NT&SA as administrative agent and lender, and ABN AMRO Bank,
N.V. and Canadian Imperial Bank of Commerce as lenders. The new credit
agreement provides a three-year revolving credit facility (subject to a one-year
extension with the approval of the lenders) in an aggregate principal amount of
$150,000,000, and a four-year term loan available in one drawdown or in multiple
draws within a six month period following the closing in an aggregate principal
amount of $250,000,000. These new credit facilities, which will become
available to AMD when the senior secured notes are sold, will replace certain of
AMD's current credit facilities. AMD intends to use approximately $150,000,000
of the net proceeds from the sale of the senior secured notes to prepay the
company's existing four-year term bank loan. The senior secured notes and the
indebtedness under the new credit agreement will be secured by substantially all
of AMD's real property, plant and equipment at one of its fabrication
facilities, Fab 25, located in Austin, Texas.

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The offering of the senior secured notes will be made only by means of a
prospectus, including a prospectus supplement, to be filed with the Securities
and Exchange Commission. A copy of the prospectus describing the senior secured
notes may be obtained from Donaldson, Lufkin & Jenrette Securities Corporation
and BA Securities, Inc. in New York, New York, and Chicago, Illinois,
respectively.

AMD is a global supplier of integrated circuits for the personal and
networked computer and communications markets. A Fortune 500 company, AMD
produces processor, flash memories, programmable logic devices, and products for
communications and networking applications. Founded in 1969, AMD is based in
Sunnyvale, California, and has sales and manufacturing facilities worldwide.
(NYSE:AMD)

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Devices, Inc.

AMD news release #96CORP19 #9676