Philips Electronics Licenses MOSAID Patent Portfolio

First European company to license patent portfolio and second running royalty licensee

OTTAWA, Ontario, Canada - April 21, 2004 – MOSAID Technologies Incorporated (TSX: MSD) today announced that it has signed a 5-year, worldwide, non-exclusive, royalty bearing patent license agreement with Royal Philips Electronics (NYSE: PHG, AEX: PHI). Under the terms of this agreement financial details cannot be disclosed.

Royal Philips Electronics is a world leader in digital technologies for television and displays, wireless communications, speech recognition, video compression, storage and optical products, as well as the underlying semiconductor technology that makes these breakthroughs possible. Philips is tenth on Fortune's list of global top electronics corporations and is active in about 60 businesses, varying from consumer electronics to domestic appliances, and from security systems to semiconductors.

"We are pleased to announce that Philips, one of the world's largest electronics companies, has licensed our patent portfolio for embedded memory employed within its semiconductor products," said George Cwynar, President and Chief Executive Officer for MOSAID. "Philips is the first European company to license MOSAID's patents as well as our second running royalty licensee."

MOSAID believes all companies that manufacture mainstream DRAM products, including single and double data rate (DDR) synchronous DRAM, as well as Rambus® DRAM, use its patented circuit technology. MOSAID is increasingly finding evidence that its patented circuit technology is also being incorporated within the embedded DRAM products of major semiconductor manufacturers.

To date, MOSAID has signed patent licensing agreements with many leading semiconductor manufacturers including Fujitsu, NEC, Toshiba, Hitachi, Mitsubishi Electric, Oki Electric, Matsushita, Winbond Electronics, Sony Corporation and now, Royal Philips Electronics. MOSAID's ability to broaden its licensing opportunities is supported by its portfolio of 520 patents issued and pending. There are currently a total of 15 semiconductor manufacturers on notice for patent infringement and MOSAID is engaged in licensing discussions with several of these companies.

About Royal Philips Electronics

Philips Electronics of the Netherlands is one of the world's biggest electronics companies and Europe's largest, with sales of EUR 29 billion in 2003. It is a global leader in color television sets, lighting, electric shavers, medical diagnostic imaging and patient monitoring, and one-chip TV products. Philips' 165,300 employees in more than 60 countries are active in the areas of lighting, consumer electronics, domestic appliances, semiconductors, and medical systems. Philips is quoted on the NYSE (symbol: PHG), Amsterdam and other stock exchanges. News from Philips is located at www.philips.com/newscenter

About MOSAID

MOSAID Technologies Incorporated is an independent semiconductor company operating through two divisions:

• Intellectual Property - a  developer and licensor of memory intellectual property.
• Systems - the leading supplier of engineering memory test and analysis systems to memory manufacturers, foundries and fabless chip companies around the world.

Founded in 1975, MOSAID is based in Ottawa, Ontario, Canada, with offices in Santa Clara, California; Newcastle upon Tyne, U.K; and Tokyo, Japan. For more information, visit the Company’s web site at  www.mosaid.com.

Forward Looking Information
This document may contain forward-looking statements relating to the Company’s operations or to the environment in which the Company operates. Such statements are based on current expectations that are subject to a variety of risks and uncertainties that are difficult to predict and/or beyond MOSAID’s control. Actual results may differ materially from those expressed in any forward-looking statements, due to factors such as customer demand and timing of purchasing decisions, product and business mix, competitive products, pricing pressures as well as general economic and industry conditions. MOSAID assumes no obligation to update these forward-looking statements, or to update the reasons why actual results could differ from those reflected in any forward-looking statements. Additional information identifying risks and uncertainties is contained in other public filings with the Ontario Securities Commission.