This is referring to the Intel Pentium CPUs, probably P2 and maybe P3, or equal
AMD processors. If your computer can run Ubuntu 12.04 or 12.10, then you have
nothing to worry about. It probably makes those using Lubuntu a bit more
worried.

Actually, support will be dropped for the Intel 80386 and 80386SX processors.
("The 386") Those CPUs were introduced in the mid-1980s, and were produced as
recently as 2007 for use in embedded systems.

The first computer using the 386 was made by Compaq in 1986. It was a huge step
forward over previous processors. At the start of this year, I still had a 386
in my basement.