6-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of June, 2004


SILICOM LTD.

(Translation of Registrant’s name into English)


8 Hanagar St., P.O.Box 2164, Kfar-Sava 44425, Israel

(Address of Principal Executive Offices)


Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F x Form 40-F o

Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

Yes o No x



Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

SILICOM Ltd.
(Registrant)


BY: /S/ Ilan Erez
——————————————
Ilan Erez
Chief Financial Officer

Dated: June 1st, 2004



FOR IMMEDIATE RELEASE

NETASQ SELECTS SILICOM’S UNIQUE 6-PORT GIGABIT
ETHERNET ADAPTERS FOR USE IN ITS HIGH-END
SECURITY APPLIANCES

        KFAR SAVA, Israel—June 1st, 2004—Silicom Ltd. (NASDAQ:SILCF) today announced that NETASQ, the leading European manufacturer of IPS-Firewall appliances, has placed an initial order for Silicom’s unique 6-Port Gigabit Ethernet Adapters for use in its high-end state-of-the-art firewall and VPN security appliances. The design win was awarded after a thorough evaluation which verified the performance of Silicom’s adapters within NETASQ’s high-end solutions.

        NETASQ designs and markets a full range of firewall and VPN appliances that are used to provide the highest level of real-time security against network intrusion. Its security appliances use a multi-layered approach that stops network and content-based threats at the edge of the network without compromising performance.

        “We make high demands on the components of our solutions, which must be robust and able to inspect each and every packet within a traffic deluge without becoming a performance bottleneck,” said Kris Van den Bergh, VP Marketing and Business Development of NETASQ. “The innovative, high-performance features of Silicom’s unique 6-port adapter give us the gigabit-speed throughput and 6-port connectivity we need for our high-end solutions, while easing network congestion and minimizing CPU utilization.”

        “We are pleased to record another important design win and order for our Server/Storage/Security product lines,” said Shaike Orbach, Silicom’s President and CEO. “All our multi-port Gigabit Ethernet products offer exceptional value, with our 6-port adapter especially effective for high connectivity in complex mission-critical environments. As previously announced, we believe the design-win momentum that continues to build for these products will become Silicom’s main growth driver.”



About NETASQ
Created in 1998, NETASQ is a European company which develops and markets innovative IPS firewall and VPN security solutions for all types of companies: small-to-medium sized firms, large enterprises and government agencies. NETASQ has full control over its proprietary in-line Intrusion Prevention technology: ASQ (Active Security Qualification), thereby ensuring its customers the longevity required for best-of-breed security appliances which adapt to the ever-changing risks faced by information systems. NETASQ distributes its products via a network of partners, including distributors, ISPs, approved VARs, retailers and integrators. Over 600 partners have been trained and certified by the NETASQ Institute. For more information, please visit: www.netasq.com

About Silicom
Silicom Ltd. is an industry-leading provider of communications connectivity solutions and advanced enabling technologies, making it the preferred time-to-market and performance partner to many of the industry’s significant players. With core expertise in high performance, innovative technologies for networking and operating systems, the Company develops high-performance networking solutions for manufacturers of storage, Internet traffic management, security, and other types of server-based systems characterized by multi-port high-performance environments. Silicom also offers an extensive range of PC Cards, PCI cards and USB products. For more information, please visit: www.silicom.co.il.


Statements in this press release which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties, or other factors not under the Company’s control, which may cause actual results, performance, or achievements of the Company to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company’s periodic filings with the Securities and Exchange Commission. The Company disclaims any duty to update such statements.

Contacts:
Ilan Erez
Silicom
+972-9-764-4555
ilane@silicom.co.il