OTTAWA, Ontario, Canada – June 1, 2006 - MOSAID Technologies Incorporated (TSX:MSD) today reiterated that it is in ongoing settlement negotiations with Infineon Technologies. As a result of the status of the negotiations, the District Court for the Eastern District of Texas, Tyler Division, has filed a pro forma notice providing that the case will be dismissed within 30 days. While the parties are encouraged by the current status of the negotiations, should a settlement not be achieved, the case will be reinstated and will continue under the normal course.
MOSAID Technologies Incorporated makes semiconductors better through the development and licensing of intellectual property and the supply of memory test and analysis systems. MOSAID counts many of the world's largest semiconductor companies among its customers. Founded in 1975, MOSAID is based in Ottawa, Ontario, with offices in Sunnyvale and Santa Clara, California; Newcastle upon Tyne, U.K; and Tokyo, Japan. For more information, visit www.mosaid.com.