MOSAID Develops High-Speed Embedded DRAM Macrocell with Lead Customer

OTTAWA, Ontario, Canada - April 22, 2004 – MOSAID Technologies Incorporated (TSX:MSD) today announced the signing of a multi-million dollar agreement with a major semiconductor company to provide a high-speed embedded DRAM (dynamic random access memory) macrocell for use within the lead customer's embedded processor products.

"The signing of this lead customer for our embedded DRAM macrocell is a major achievement for MOSAID's design licensing program," said George Cwynar, President and Chief Executive Officer of MOSAID. "The macrocell will also be added to MOSAID's portfolio of IP products available for license to other customers."

"Our customer's embedded processor technology will benefit from a unique combination of high speed, low power consumption and reduced die area achieved through the use of our proprietary architecture, circuit techniques and BIST methods," said Peter Gillingham, Vice President and General Manager of the MOSAID Intellectual Property Division. "We have a long-standing reputation as a centre of excellence in high performance embedded DRAM design, and have the experience and inventiveness to address our customers' demanding requirements, whether through custom chip solutions or specialized IP blocks."

About MOSAID

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

• Intellectual Property - adeveloper 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.