OTTAWA, Ontario - September 16, 2005 - MOSAID Technologies Incorporated (TSX: MSD) today announced that Ms. Deborah L. Weinstein, co-founder and partner of LaBarge Weinstein, a business law firm, has resigned from MOSAID's Board of Directors effective September 16, 2005. Concurrently, the Board has appointed Mr. Theodore E. Galanthay as the new Director.
"In light of our interests in continuing to benefit from the counsel of LaBarge Weinstein and maintaining best corporate governance practice, we all believed it was in everyone's interest for Debbie to step down at this time," said Tom Csathy, Chairman of MOSAID. "On behalf of the Board I would like to thank Debbie for her great contribution to MOSAID over the last 10 years. During her tenure with us, Debbie's energy, enthusiasm and wise counsel has played a huge part in the development and growth of our Company. We wish her every success in the future."
"I am delighted to welcome Ted Galanthay as the new member of our Board," said Csathy. "With over 35 years of experience in managing semiconductor intellectual property matters for premier global companies, Ted's expertise will be very beneficial as we continue through our next phase of growth."
Mr. Galanthay is a consultant in patent and licensing matters. He is a former Group Vice President of STMicroelectronics, Europe's largest semiconductor company, where he personally led the negotiation of patent licenses in Japan, Europe, and the US, with many peer companies and patent licensing companies. Previously, he was an intellectual property counsel at IBM for 25 years where, in his last assignment, he served as an executive manager at the Personal Computer Group.
Ted holds a Juris Doctor degree from George Washington University and a Bachelor of Electrical Engineering degree from Clarkson University. He is a member of the New York State Bar, the Arizona State Bar and the US Patent Office Bar and the former co-chair of the semiconductor committee of the Licensing Executives Society.
MOSAID Technologies Incorporated makes memory better through the development and licensing of intellectual property and the supply of memory test and analysis systems to semiconductor manufacturers, foundries and fabless semiconductor 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.