Verisity's Functional Verification Technology Second to None; Verisity Awarded Seven New Patents

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--June 23, 2003--Verisity Ltd. (Nasdaq:VRST), the leading supplier of essential technology and methodology for functional verification, today announced that the U.S. Patent and Trademark office has awarded the Company seven new patents for its leading functional verification technology. All seven patents are broad patents in the area of functional verification automation. The patents are:

--	U.S. Patent number 6,347,388 entitled "Method and Apparatus for Test Generation During Circuit Design,"
--	U.S. Patent number 6,487,704 entitled "System and Method for Identifying Finite State Machines and Verifying Circuits,"
--	U.S. Patent number 6,499,132 entitled "System and Method for Compiling Temporal Expressions"
--	U.S. Patent number 6,502,232 entitled "Electronic Circuit Design Environmentally Constrained Test Generation System"
--	U.S. Patent number 6,519,727 entitled "System and Method for Applying Flexible Constraints"
--	U.S. Patent number 6,530,054 entitled "Method and Apparatus for Test Generation During Circuit Design"
--	U.S. Patent number 6,536,019 entitled "Race Condition Detection and Expression"

Functional Verification Automation

Electronics companies today are facing an immense challenge in the area of functional verification. As designs get more complex, functional verification has become a critical business issue that companies are desperate to solve. Verisity provides essential technology and methodology that automates the functional verification process, thereby providing customers with the means to perform more thorough verification in the shortest amount of time. Verisity has always been committed to providing leading-edge technology for functional verification and maintains that commitment through continual investments in research and development and product innovations.

"Verisity's success is undeniably due to its superior technology and verification processes," said Steve Glaser, vice president of Corporate Marketing and Business Development for Verisity. "Today's announcement is a testament to the breadth and depth of our technical leadership and is what clearly sets us apart from our competitors."

About Verisity

Verisity, Ltd. (Nasdaq:VRST), is the leading supplier of essential technology and methodology for the functional verification market. The company addresses customers' critical business issues with its market-leading software and intellectual property (IP) that effectively and efficiently verify the design of electronic systems and complex integrated circuits for the communications, computing, and consumer electronics global markets. Verisity's Specman Elite(R) testbench automation solution automates manual processes and detects critical flaws in hardware designs enabling delivery of the highest quality products and accelerating time to market. The company's strong market presence is driven by its proven technology, methodology, and solid strategic partnerships and programs. Verisity's customer list includes leading companies in all strategic technology sectors. Verisity is a global organization with offices throughout Asia, Europe, and North America. Verisity's principal executive offices are located in Mountain View, California, with its principal research and development offices located in Rosh Ha'ain, Israel. For more information, visit www.verisity.com.

Note to Editors: Verisity and the Verisity logo are either registered trademarks or trademarks of Verisity Design, Inc. in the United States and/or other jurisdictions. All other trademarks are the property of their respective holders.

CONTACT: Verisity Design, Inc.
             Jennifer Bilsey, 650/934-6823
             jen@verisity.com