EXHIBIT 99.1

                                                                       CONTACTS:
                                                                  John Greenagel
                                                            AMD Public Relations

                                                                  (408) 749-3310
                                                  E-mail: john.greenagel@amd.com
                                                          ----------------------

                                                                    Toni Beckham
                                                          AMD Investor Relations
                                                                  (408) 749-3127
                             E-Mail: investorrelations-ca.communications@amd.com

         Advanced Micro Devices Announces Intention to Offer Convertible
                               Senior Debentures

SUNNYVALE, CA - January 23, 2002 - AMD today announced its intention to commence
an offering of $500,000,000 in principal amount of Convertible Senior Debentures
to be issued pursuant to Rule 144A.

     The company expects that the initial purchasers will have the option to
purchase an additional $100,000,000 of Convertible Senior Debentures for a
period of 13 days from the execution of a purchase agreement. The company
intends to use the proceeds generated from the offering for capital
expenditures, working capital and general corporate purposes.

     The Debentures and common stock issuable upon conversion have not been
registered under the Securities Act of 1933, as amended, or any state securities
laws and may not be offered or sold in the United States absent registration or
an applicable exemption from registration requirements.

     This release contains forward-looking statements, which are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that forward-looking statements in this release
involve risks and uncertainty that could cause actual results to differ
materially from current expectations.