CEVA Announces Foundry Program Partnership With Tower Semiconductor

Program Speeds Time-to-Market For Tower Semiconductor's Customer Development of High-Performance, Low-Power DSP Solutions

San Jose, CA - May 10, 2004 - CEVA, Inc., (NASDAQ: CVA; LSE: CVA), the leading licensor of Digital Signal Processing (DSP) cores and communications solutions to the semiconductor industry, today announced that Tower Semiconductor Ltd. (NASDAQ: TSEM; TASE: TSEM), has joined CEVA's foundry program and will offer CEVA's Xpert-Teak DSP platform to its customers.

CEVA-X is a scalable VLIW-SIMD DSP architecture delivering breakthrough performance, at low power consumption and at lowest cost-of-development for DSP deployment. The CEVA-X1620, licensed to EoNex, is a dual MAC 16-bit fixed point, fully synthesizable DSP core and the best performing DSP on the market today. Independent benchmarks by Berkeley Design Technology (BDTI) confirmed CEVA-X1620 as the industry's fastest licensable DSP core. CEVA-X enables licensees to efficiently develop software using high-level languages such C and C++ allowing re-usability and fast time to market.

Xpert-Teak is a complete DSP system-on-chip (SoC) framework built around CEVA's low-power, high-performance Teak DSP core and integrates the complete range of system peripherals including memory, DMA and system interfaces. Delivered as a pre-integrated DSP platform and proven on Tower semiconductor's 0.18um process, Xpert-Teak provides Tower's customers with significant cost and time-to-market advantages over the more traditional approach of licensing a core without the associated sub-system peripherals already integrated.

Tower's participation in CEVA's foundry program reflects the DSP market's rapid growth. Analyst research firm Forward Concepts, forecast that DSP market will grow 25% in 2004 over semiconductor revenues of $6.1 billion achieved in 2003. Tower's specialized processes for digital imaging, audio/video, mixed signal and wireless communications along with CEVA Xpert-Teak's proven performance in these market segments, provides customers with a silicon proven DSP core and platform enabling rapid-ramp to market for their products.

"With the exponential growth in DSP based solutions, we are pleased to partner with CEVA, a world leader in licensable DSP technology," said Doron Simon, Vice President Marketing and President of Tower Semiconductor USA. "This relationship will allow Tower to expand our 0.18um, inherently low leakage exhibiting process, with this addition of Xpert-Teak DSP platform from CEVA."

"Our partnership with Tower enables both companies to broaden our market by enabling us to offer best-in-class silicon proven DSP solutions to the broad base of Tower's customers," said Chet Silvestri, president and CEO of CEVA. "Teaming with a semiconductor foundry like Tower will deepen our DSP penetration in cellular markets and expand into the rapidly growing arena of digital multimedia applications."

About Tower Semiconductor Ltd.

Tower Semiconductor Ltd. is a pure-play independent wafer foundry established in 1993. The company manufactures integrated circuits with geometries ranging from 1.0 to 0.18 microns; it also provides complementary manufacturing services and design support. In addition to digital CMOS process technology, Tower offers advanced non-volatile memory solutions, mixed-signal and CMOS image-sensor technologies. To provide world-class customer service, the company maintains two manufacturing facilities: Fab 1 has process technologies from 1.0 to 0.35 microns and can produce up to 16,000 150mm wafers per month. Fab 2 features 0.18-micron and below process technologies, including foundry-standard technology, and will offer full production capacity of 33,000 200mm wafers per month. The Tower Web site is located at www.towersemi.com.

About CEVA, Inc.

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