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EXHIBIT 99.5
GOLDMAN, SACHS & CO.
PERSONAL AND CONFIDENTIAL
December 11, 2000
Board of Directors
Marvell Technology Group Ltd.
Richmond House
3rd Floor
12 Par la Ville Road
Hamilton, HM DX, Bermuda
Re: Registration Statement (File No. 333-50206) of Marvell Technology Group
Ltd.
Ladies and Gentlemen:
Attached is our opinion letter dated October 16, 2000 with respect to the
fairness from a financial point of view to Marvell Technology Group Ltd. (the
"Company") of the exchange ratio of 0.674 shares of Common Stock, par value
$0.002 per share, of the Company to be exchanged for each Ordinary Share, par
value New Israeli Shekels 0.01 per share, of Galileo Technology Ltd. ("Galileo")
pursuant to the Agreement of Merger, dated as of October 16, 2000, among the
Company, Toshack Acquisitions, Ltd., a wholly-owned subsidiary of the Company,
and Galileo.
The foregoing opinion letter is provided for the information and assistance of
the Board of Directors of the Company in connection with its consideration of
the transaction contemplated therein and is not to be used, circulated, quoted
or otherwise referred to for any other purpose, nor is it to be filed with,
included in or referred to in whole or in part in any registration statement,
proxy statement or any other document, except in accordance with our prior
written consent. We understand that the Company has determined to include our
opinion in the above-referenced Registration Statement.
In that regard, we hereby consent to the reference to the opinion of our Firm
under the captions "Summary - Opinion of Marvell's Financial Advisor," "The
Merger - Background of the Merger," "The Merger - Recommendation of the Marvell
Board of Directors and Marvell's Reasons for the Merger," and "The Merger -
Opinion of Marvell's Financial Advisor" and to the inclusion of the foregoing
opinion in the Joint Proxy Statement/Prospectus included in the above-mentioned
Registration Statement, as amended. In giving such consent, we do not thereby
admit that we come within the category of persons whose consent is required
under Section 7 of the Securities Act of 1933 or the rules and regulations of
the Securities and Exchange Commission thereunder.
Very truly yours,
/s/ Goldman, Sachs & Co.
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GOLDMAN, SACHS & CO.
