Dr. Jerry Lee joins IPCore Technologies as Chief Executive Officer

SHANGHAI- January 19, 2004 - IPCore Technologies, China?fs leading design foundry, today announced the appointment of Dr. Jerry Lee as Chief Executive Officer effective January 19, 2004.  Dr. Lee has over 20 years of experience in design services and EDA having held roles of managing EDA tool development as well out-source design service business.  Most recently he was Senior Vice President and General Manager of IC implementation business unit for Synopsis Incorporated, a US company and leading supplier of electronic design automation (EDA) software to the global electronics industry.

?gI am very excited about joining the IPCore team and look forward to growing together with IPCore to capture the tremendous opportunities for design services both in China and abroad,?h stated Dr. Lee.

In his previous position at Synopsis, Dr. Lee was responsible for the business of IC design tools from logic synthesis to physical design.  His business unit was by far the largest business unit in Synopsys measured by resource and revenue.  He managed over 700 R&D developers, application engineers, and marketing staff.

Dr. Lee joins just as IPCore is entering its 3rd successful year of operations with its unique design foundry business model.  IPCore has also recently closed another round of financing led by Walden International, adding another US$25 million capital to fuel its expansion needs.  IPCore is set to achieve record growth in 2004 and plans to significantly expand its team.

?gJerry?fs rich industry experience and management expertise will be a tremendous asset to IPCore and will help take us to the next level of business and profitability,?h commented IPCore Chairman Dr. Peter Chen.

Dr. Lee has also held the positions of Vice President of Engineering of Physical Synthesis and Vice President of Professional Services at Synopsis, as well as Vice President of Spectrum Service and General Manager of Design Service division at Cadence.  Dr. Lee holds a PhD in Electrical Engineering from University of Pittsburgh and a BSEE from National Taiwan University.

About IPCore
IPCore Technologies is a Cayman Islands registered company with offices in Silicon Valley, US and Shanghai, China.  It is the first Pure Design Foundry Company in China to provide a One-Stop-Silicon-Solution to domestic and international IC product companies.  Founded in 2001 with headquarters in Shanghai?fs CaoHeJing Hi-Tech Park?CIPCore has strong partnership with various wafer foundries, testing & packaging houses and global tier-one IC companies.  IPCore?fs investor base is composed of a notable consortium of international venture capital firms including Walden International, Pacific Venture Partners, 3i, and Vertex. Please visit: http://www.ipcoreinc.com