Cadence CEO Ray Bingham to Cut Ribbon At Russian Technology Institute Lab Dedication

ZELENOGRAD, Russia--(BUSINESS WIRE)--Sept. 23, 2002--Cadence Design Systems, Inc. (NYSE: CDN), the world"s leading supplier of electronic design products and services, announced that President and CEO Ray Bingham will join top business and education leaders in Russia today at a lab dedication and ribbon-cutting for a Cadence-sponsored training program at the Moscow Institute of Electronic Technology (MIET).

Bingham will be joined by MIET Rector Yuri Chaplygin; Alexander Mitaenko, Manager in Motorola Inc."s Analog/Mixed-Signal Development Center, Russia; Alexei Navolokin, General Director of Intel Russia; and Kirill G. Korniliev, General Manager of IBM in Eastern Europe and Asia.

The event is the formal launch of the International Institute of Device and System Design, a training program begun earlier this year that develops curriculum for and teaches classes in analog/mixed-signal system-on-a-chip design for Russian engineering graduate students at MIET, located just outside Moscow in Zelenograd. The three-year program -- one of several global initiatives by Cadence and the second in Russia-will train 25 students a year, with many of those students expected to move on to positions with international technology companies operating in Russia. Bingham and the other officials will formally dedicate MIET"s Cadence Lab.

"We are launching this training program because we see great potential in the electronics industry here, which is expected to grow about 20 percent a year," Bingham said. "Russia has a deep pool of talented and dedicated young people ready to make their marks in the world of electronic design, and this program provides them with the latest tools and curriculum to prepare them for promising careers in their country"s electronics industry."

The program is administered by Mirantis Inc., a Foster City, Calif., company. Cadence donated computer equipment and software licenses and is funding instructor and student stipends to help MIET develop the curriculum.

"This program by Cadence, Mirantis, and MIET is a smart investment in Russia"s burgeoning electronics market -- one that will benefit Russia as well as global electronics companies like Motorola," said Motorola"s Mitaenko. "We plan to place several students in internships at our Russian operations, and we expect great things from them."

The training program at MIET is among many investments Cadence is making in training and research facilities around the world. Separately from the MIET program, Mirantis provides technology development services for Cadence in Russia. And Cadence announced major new investments in China and India within the past year.

About Cadence

Cadence is the world"s largest supplier of electronic design technologies and services. Leading computer, networking, wireless, and consumer electronics companies use the company"s solutions to design electronic systems and semiconductors down to nanometer scale. IEEE, the world"s largest technical professional society, honored Cadence with its 2002 Corporate Innovation Recognition award. With approximately 5,500 employees and 2001 revenues of approximately $1.4 billion, Cadence has sales offices, design centers, and research facilities around the world. The company is headquartered in San Jose, Calif., and traded on the New York Stock Exchange under the symbol CDN. More information about the company and its products and services is available at www.cadence.com.

Cadence and the Cadence logo are registered trademarks of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners.

     Cadence Design Systems, Inc.
     Dean Solov, 408/914-6077
     dsolov@cadence.com