Mosaid Licenses patent portfolio to Mitsubishi Electric

MOSAID LICENSES PATENT PORTFOLIO TO MITSUBISHI ELECTRIC

DRAM manufacturer fifth company to sign patent licensing agreement with MOSAID

OTTAWA, Ontario Canada-April 18, 2001-MOSAID Technologies Incorporated (TSE:MSD) announced today that it has signed a worldwide, non-exclusive patent licensing agreement with Mitsubishi Electric Corporation of Tokyo, Japan.

Under the terms of this transaction, Mitsubishi Electric obtains a license to MOSAID's patent portfolio, while MOSAID obtains a cross license for Mitsubishi Electric patents.

Mitsubishi Electric, one of the world's top 10 DRAM suppliers, is a leader in the development of embedded DRAM technology and the fifth company to license MOSAID's patent portfolio.

"This patent licensing agreement is further evidence of the strength of our intellectual property, which continues to drive both revenue and earnings growth for our Company," said George Cwynar, President and CEO of MOSAID Technologies.

MOSAID believes that all companies that manufacture mainstream DRAM products use its technology. Since its first patent licensing agreement in 1999, MOSAID has announced patent licensing agreements with Hitachi, Toshiba, NEC and Fujitsu. Together with Mitsubishi Electric, these companies are estimated to hold over 26 percent of DRAM market share worldwide. MOSAID has notified nine additional semiconductor manufacturers of patent infringement and is currently in licensing discussions with several of these companies.

MOSAID has a strong track record of developing innovative memory designs, and the Company's patent portfolio continues to grow. During its most recent fiscal quarter, MOSAID added 31 new patent applications to this portfolio, for a total of 262 patents issued or pending.

"The strength of our patent portfolio continues to grow as we add new patents from our networking chip and embedded memory development programs," said Dan Mathers, Senior Vice President of MOSAID and General Manager of its Semiconductor Division. "This portfolio has supported a vigorously growing intellectual property licensing business, and has laid a strong technical and financial foundation for our fabless semiconductor business."

During the negotiations of its patent licensing agreement with Mitsubishi Electric, MOSAID was assisted by The Consortium for Technology Licensing, Ltd., of Nissequogue, New York, U.S.A.

About MOSAID
MOSAID Technologies Incorporated is an independent semiconductor company with a 25-year history of design innovation. MOSAID's Semiconductor Division is a fabless provider of high performance products for the networking market and a licensor of semiconductor intellectual property. MOSAID's Systems Division is the leading supplier of engineering memory test and analysis systems for memory device design and quality. MOSAID is based in Ottawa, Ontario, Canada, with offices in Austin, Texas; Santa Clara, California; London, U.K.; and Tokyo, Japan.

About Mitsubishi Electric Corporation
Mitsubishi Electric Corporation (FTSE: 6503q.l) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and construction. With operations in 36 countries, Mitsubishi Electric Corporation recorded consolidated group sales of over US$35 billion in the year ended March 31, 2000. Additional information on Mitsubishi Electric Corporation is available at www.mitsubishielectric.com.

About The Consortium for Technology Licensing, Ltd.
The Consortium for Technology Licensing, Ltd. of Nissequogue, New York, U.S.A. is an organization that works closely with leading academic institutions and corporations around the world and assists them in licensing their semiconductor-related intellectual property rights.

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For more information, please contact:

Investor Inquiries
David Ward
Director, Investor Relations
613-599-9539 x1205
ward@mosaid.com

Media Inquiries
Marisa Marzano
Senior Communications Specialist
613-599-9539 x1228
marzano@mosaid.com