Sequence/Simplex Sign Memorandum of Understanding on IP Dispute

SANTA CLARA, Calif. and SUNNYVALE, Calif., March 19 /PRNewswire-FirstCall/ -- Simplex Solutions, Inc. (Nasdaq: SPLX - news), a leading provider of software and services for the design and verification of integrated circuits (ICs), and Sequence Design, Inc., the SoC Design Closure Company(SM), today announced they have signed a binding memorandum of understanding (MoU) pertaining to the patent infringement suit brought by Sequence against Simplex in August, 2001. The terms of the MoU are confidential; however, they involve an exchange of certain specified intellectual property rights and other financial considerations. Simplex management stated that the terms are not material to the financial results of Simplex. As a result of the MoU, the U.S. District Court in Oakland, Calif. has issued a conditional order of dismissal. The suit is therefore dismissed contingent upon both parties finalizing a settlement agreement and abiding by the terms of that agreement.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements (including, without limitation, information regarding settlement of the patent infringement suit, the binding effect of the settlement agreement and the dismissal of the suit) that involve risks and uncertainties that could cause the results of the parties and other events to differ materially from managements" current expectations.

Actual results and events may differ materially due to a number of factors including, among others: the execution of the definitive settlement agreement and compliance with the terms of the MoU and such settlement agreement by the parties. The matters discussed in this press release also involve risks and uncertainties described in the most recent filings of the parties with the Securities and Exchange Commission. The parties assume no obligation to update the forward-looking information contained in this release.

About Sequence

Sequence Design, Inc., the SoC Design Closure Company(TM) enables system- on-chip designers to bring higher-performance and lower-power integrated circuits quickly to tape out. Sequence"s physical design software and solutions give its more than 100 customers the competitive advantage they need to excel in aggressive technology markets, despite demanding complexity and time-to-market issues of sub-180 nanometer design.

Sequence has worldwide development and field service operations. The company was formed through the merger of Sente, Inc., Sapphire Design Automation, Inc. and Frequency Technology. Sequence is privately held. Sequence is a member of Cadence Design Systems" Connections(TM) and Mentor Graphics" Open Door partnership programs.

Additional information on the company can be found at sequencedesign.com.

About Simplex

Simplex Solutions, Inc. provides software and services for the design and verification of integrated circuits (ICs) to enable its communications, computer and consumer-products customers to achieve first-time production success and rapid delivery of complex systems-on-chip. Simplex"s customers use its products and services prior to manufacture to design and verify the ICs to help ensure that they will perform as intended, taking into account the complex effects of deep-submicron semiconductor physics. Simplex can be reached at 408-617-6100 or on the web at www.simplex.com.