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SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--May 21, 2001-- Antrim Design Systems, Inc., the mixed-signal solutions company, announced that they have closed Series D financing including an investment from Mitsubishi Electric Corporation. Antrim provides mixed-signal intellectual property (IP), tools and services to the consumer electronics, communications and multimedia industries. With this investment, Mitsubishi Electric and Antrim will strengthen their existing relationship with a comprehensive business tie-up to co-develop analog and mixed-signal IP and tools. (This is one of four announcements dated today regarding Antrim Series D financing.)

``Our objective is to strengthen our analog IP technology and build a complete methodology with state of the art solutions at the system level. With the expected rapidly expanding demand for digital AV, broadband communications and other IT-related devices, analog technology is essential to our system LSI business. Antrim has proven to us their quality and level of expertise regarding analog and mixed-signal designs, so this investment is a natural evolution in our involvement with the company,'' said Dr. Koichi Nagasawa, president of the Semiconductor Group of Mitsubishi Electric. ``Combining our own digital and mixed-signal technologies with Antrim's know-how, we aim to expand our next-generation system LSI business.''

``We have great respect for Mitsubishi and are honored that they have chosen to participate so closely in Antrim's future,'' said Roy McGuffin, president of Antrim Design Systems. ``We began this company knowing the need for mixed-signal solutions would continue to grow, and this investment validates our approach and planning. We look forward to the shared knowledge that will help our customers to exceed their expectations. This investment will help to greatly benefit the industry for mixed-signal solutions.''

About Mitsubishi Electric

With 80 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, 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 recorded consolidated group sales of over US$35BN in the year ended March 31, 2000. Additional information on Mitsubishi Electric Corporation is available at www.mitsubishielectric.com.

About Antrim

Antrim Design Systems, Inc. has delivered the world's first complete mixed-signal synthesis system incorporating design software, intellectual property and expert design services. Targeting the communications, multimedia and consumer electronics markets, Antrim leverages the knowledge of mixed-signal designers in a system that maximizes optimization, reuse and retargetability. Based in Scotts Valley, California, the company is privately held.

Headquarters: 5550 Scotts Valley Drive, Suite 300, Scotts Valley, California 95066. Telephone: 831/430-1900. On the web at http://www.antrim.com

Note to Editors: Antrim Design Systems, Inc. is a registered trademark of Antrim Design Systems, Inc. All other trademarks are the property of their respective owners.

     Antrim Design Systems, Inc.
     Nelson Seiden, 831/430-4819
     nseiden@antrim.com.
          or
     Mitsubishi Electric Corporation
     Matthew Nicholson, +81.3.3218.2346
     matthew.nicholson@hq.melco.co.jp