Conclusions: A beam test demonstrated the successful operation of the custom silicon microstrip detectors and FEE in the integrated read-out chain of the PHENIX Multiplicity and Vertex Detector. The silicon detectors responded to changes in bias voltage and incident beam angle as expected. A layout problem in the ADC was discovered and has been subsequently corrected. The asynchronicity of the trigger and preamp reset systems did not result in any significant degradation of data quality. With the current set of custom chip prototypes, a signal to noise ratio of 6 to 1 was achieved. With future improvements in the ADC we expect to attain a signal to noise ratio of 10 to 1.