Exhibit 99.1

Avago Technologies Limited Announces Fourth Quarter And

Fiscal Year 2011 Financial Results

SAN JOSE, Calif., and SINGAPORE – December 1, 2011 – Avago Technologies Limited (Nasdaq: AVGO), a leading supplier of analog interface components for communications, industrial and consumer applications, today reported financial results for its fourth quarter and fiscal year ended October 30, 2011, and provided guidance for the first quarter of fiscal year 2012.

Fourth Quarter Fiscal Year 2011 GAAP Results

Net revenue was a record $623 million, an increase of 3 percent compared with the previous quarter, and up 9 percent from the same quarter last year.

Gross margin was $304 million, or 48.8 percent of net revenue. This compares with gross margin of $297 million, or 49.3 percent of net revenue last quarter, and gross margin of $276 million, or 48.3 percent of net revenue in the same quarter last year.

Operating expenses were $145 million. This compares with $152 million in the prior quarter and $131 million in the same quarter the previous year.

Income from operations was $159 million. This compares with $145 million in the prior quarter and $145 million in the same quarter last year.

Fourth quarter net income was $154 million, or $0.61 per diluted share. This compares with net income of $144 million, or $0.57 per diluted share last quarter, and net income of $164 million, or $0.66 per diluted share in the same quarter last year.

The Company’s cash balance at the end of the fourth quarter was $829 million, compared to $704 million at the end of the prior quarter. The increase in cash over the previous quarter is primarily due to $195 million of cash generated from operations.

During the quarter the Company spent $37 million on capital expenditures and repurchased and cancelled approximately 750,000 ordinary shares for an aggregate purchase price of $25 million. In addition, on September 30, 2011 the Company paid a quarterly cash dividend of 11 cents ($0.11) per ordinary share, totaling approximately $27 million.

Fourth Quarter Fiscal Year 2011 Non-GAAP Results

Gross margin was $319 million, or 51.2 percent of net revenue. This compares with gross margin of $312 million, or 51.7 percent of net revenue last quarter, and gross margin of $291 million, or 50.9 percent of net revenue in the same quarter last year.

Avago Technologies Limited Announces Fourth Quarter and Fiscal Year 2011 Financial Results

Income from operations was a record $191 million. This compares with $177 million in the prior quarter and $171 million in the same quarter the previous year.

Net income was $186 million, or $0.73 per diluted share. This compares with net income of $176 million, or $0.68 per diluted share last quarter, and net income of $190 million, or $0.76 per diluted share in the same quarter last year.

“Despite a slowdown in our Industrial market, we delivered sequential revenue growth in the fourth quarter as we ramped with the launch of next generation smartphones,” said Hock Tan, President and CEO of Avago Technologies Limited. “However, looking to the first quarter, we expect a seasonal slow-down in handsets while the supply chain contraction in our Industrial market continues.”

Other Quarterly Data

Fiscal Year 2011 Financial Results

Net revenue grew 12 percent to $2.3 billion when compared to fiscal year 2010. GAAP gross margin was $1,147 million, or 49.1 percent of net revenue versus $966 million, or 46.2 percent of net revenue in fiscal year 2010. GAAP net income was $552 million, or $2.19 per diluted share. This compares with GAAP net income of $415 million, or $1.69 per diluted share in fiscal year 2010.

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Avago Technologies Limited Announces Fourth Quarter and Fiscal Year 2011 Financial Results

Non-GAAP gross margin was $1,207 million, or 51.7 percent of net revenue compared with $1,028 million or 49.1 percent of net revenue in fiscal year 2010. Non-GAAP net income of $692 million, or $2.70 per diluted share, compared with $547 million, or $2.19 per diluted share, last fiscal year.

First Quarter Fiscal Year 2012 Business Outlook

Based on current business trends and conditions, the outlook for the first quarter of fiscal year 2012, ending January 29, 2012, is expected to be as follows:

Reconciling items include $14 million of amortization of acquisition-related intangibles and $1 million of share-based compensation expense at the Gross Margin line and $5 million of amortization of acquisition-related intangibles, $11 million of share-based compensation and $1 million of restructuring charges at the Operating Expenses line.

Capital expenditures for the first quarter are expected to be in the range of $40 million to $45 million. For the full fiscal year 2012, capital expenditures are expected to be approximately $200 million. Depreciation for the first quarter is expected to be $19 million and amortization is expected to be $19 million.

The guidance provided above is only an estimate of what the Company believes is realizable as of the date of this release. The guidance excludes any impact from share repurchases or mergers and acquisitions activity that may occur during the quarter. Actual results will vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law.

Avago will be presenting at the Barclays Technology Investor Conference in San Francisco on December 7, 2011. This presentation will be webcast and available for replay on the “Investors” section of Avago’s website at www.avagotech.com.

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Avago Technologies Limited Announces Fourth Quarter and Fiscal Year 2011 Financial Results

Financial Results Conference Call

Avago Technologies Limited will host a conference call to review its financial results for the fourth quarter and fiscal year 2011, and to provide guidance for the first quarter of fiscal year 2012, today at 2:00 p.m. Pacific Time. Those wishing to access the call should dial 866-783-2141; International 857-350-1600. The passcode is 37328692. A replay of the call will be available through December 8, 2011. To access the replay dial 888-286-8010; International 617-801-6888 and reference the passcode: 10250546. A webcast of the conference call will also be available in the “Investors” section of Avago’s website at www.avagotech.com.

Non-GAAP Financial Measures

In addition to GAAP reporting, Avago provides investors with net income, income from operations, gross margin, operating expenses and other data, on a non-GAAP basis. This non-GAAP information excludes amortization of acquisition-related intangibles, share-based compensation expense, restructuring charges and debt extinguishment losses. Management does not believe that the excluded items are reflective of the Company’s underlying performance. The exclusion of these and other similar items from Avago’s non-GAAP presentation should not be interpreted as implying that these items are non-recurring, infrequent or unusual. Avago believes this non-GAAP financial information provides additional insight into the Company’s on-going performance and has therefore chosen to provide this information to investors for a more consistent basis of comparison and to help them evaluate the results of the Company’s on-going operations and enable more meaningful period to period comparisons. These non-GAAP measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release.

About Avago Technologies Limited

Avago Technologies Limited is a leading designer, developer and global supplier of a broad range of analog semiconductor devices with a focus on III-V based products. Our product portfolio is extensive and includes over 6,500 products in four primary target markets: wireless communications, wired infrastructure, industrial and automotive electronics and consumer and computing peripherals.

Cautionary Note Regarding Forward-Looking Statements

This announcement contains forward-looking statements which address our expected future business and financial performance. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future Company or industry performance, based on management’s judgment, beliefs, current trends and market conditions, and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. Accordingly, we caution you not to place undue reliance on these statements. For Avago, particular uncertainties that could materially affect future results include global economic conditions and concerns; cyclicality in the semiconductor industry or in our target markets; quarterly and annual fluctuations in operating results; our competitive performance and ability to continue achieving design wins with our customers; our dependence on contract manufacturing and outsourced supply chain and our ability to improve our cost structure through our manufacturing outsourcing program; prolonged disruptions of our or our contract manufacturers’ manufacturing facilities or other significant operations,

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Avago Technologies Limited Announces Fourth Quarter and Fiscal Year 2011 Financial Results

for example due to natural disasters such as the recent flooding in Thailand; our increased dependence on outsourced service providers for certain key business services and their ability to execute to our requirements; loss of our significant customers; our ability to maintain gross margin; our ability to maintain tax concessions in certain jurisdictions; our ability to protect our intellectual property and any associated increases in litigation expenses; dependence on and risks associated with distributors of our products; any expenses associated with resolving customer product and warranty and indemnification claims; currency fluctuations; our ability to achieve the growth prospects and synergies expected from our acquisitions; delays, challenges and expenses associated with integrating acquired companies with our existing businesses; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. Our Quarterly Report on Form 10-Q filed on September 8, 2011 and other filings with the Securities and Exchange Commission, or “SEC” (which you may obtain for free at the SEC’s website at http://www.sec.gov) discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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Contacts:

Avago Technologies Ltd.

Jacob Sayer, 408-435-7400

VP Business Development and Investor Relations

investor.relations@avagotech.com

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AVAGO TECHNOLOGIES LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED

(IN MILLIONS, EXCEPT PER SHARE DATA)

AVAGO TECHNOLOGIES LIMITED

NON-GAAP FINANCIAL SUMMARY - UNAUDITED(1)

(IN MILLIONS, EXCEPT PERCENTAGES AND PER SHARE DATA)

AVAGO TECHNOLOGIES LIMITED

FINANCIAL RECONCILIATION: GAAP TO NON-GAAP - UNAUDITED

(IN MILLIONS)

AVAGO TECHNOLOGIES LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED

(IN MILLIONS)

AVAGO TECHNOLOGIES LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)