Monterey Design Adds Industry Veterans To Board Of Directors

SUNNYVALE, California – September 23, 2003 - Monterey Design Systems today announced that EDA industry veteran Tim Unger and Peter Buhl of Nokia Venture Partners have joined the company’s board of directors. The company currently has six directors, five of whom are non-management directors.

“Monterey will benefit immeasurably from the wealth of experience that Tim and Peter have in guiding companies at similar stages of development,” said Jacques Benkoski, president, CEO, and director of Monterey.

“Monterey is on track to dominate the rapidly growing market for silicon virtual prototyping (SVP) tools,” said Unger. “SVP is the most exciting development since logic synthesis, and I believe that my past experience guiding EDA and IP companies will benefit Monterey as it progresses towards large-scale proliferation of its products.”

“There is no question that IC design and the IC design process will change dramatically over the next several years,” said Buhl. “Both the complexity and the cost of designs create huge risks. The way to reduce that risk is to apply Monterey's sophisticated tools at the front end of the design process for iterative planning and prototyping.”

Unger has over twenty years of executive experience at premier technology companies such as Cadence Design Systems. He has served as the chief executive officer at a number of high-growth start-ups at various stages of development in both the semi-conductor and enterprise software markets, most recently achieving record revenues at Virtual-Silicon Technology, a leading provider of semiconductor intellectual property.

Buhl has 17 years of experience working with and in technology companies. Prior to the establishment of Nokia Venture Partners in 1998, he had 12 years of senior financial and operational experience at Ipsion Networks and Software Alliance Corp. He began his career with Price Waterhouse in San Francisco. Buhl's investments encompass telecommunications & enterprise software, payments and consumer electronics. He serves on the Board of Directors of eight companies, including Monterey Design. Buhl holds a B.S. in Business Administration from the University of California at Berkeley.

About Monterey Design Systems

Monterey's patented silicon virtual prototyping technology provides design teams with valuable early visibility into the physical impact of their design decisions. This allows them to detect and avoid design problems that otherwise would result in months of painful physical implementation work to achieve timing closure.

Customers have been taping out chips using Monterey planning and prototyping tools for over three years. Today, Monterey offers the only complete production-proven silicon virtual prototyping tool available from any source. Seven of the top ten semiconductor companies in the world are using Monterey planning and prototyping tools in their production flows.

Key Dolphin and Calypso customers include STMicroelectronics, Toshiba Corporation, Fujitsu Limited, NEC Electronics, and LSI Logic. Monterey is privately held and partners with other leading EDA companies, such as Cadence (NYSE:CDN - News) and Synopsys (Nasdaq:SNPS - News), to ensure interoperability in all existing design flows. Monterey Design Systems is located at 894 Ross Drive, Sunnyvale, CA 94089-1443, tel: 1.408.747.7370, fax: 1.408.747.7377. To learn more, visit http://www.montereydesign.com