CoWare Names Joy E. Leo SVP & CFO and A.K. Kalekos VP of Marketing & Business Development as Demand for Company's ESL Solutions Intensifies

Artisan Components and Cadence Alums to Help Drive Growth of ESL Design Leader

San Jose, Calif., May 17, 2005 * * * CoWare (R) Inc., the leading supplier of electronic system-level (ESL) design software and services, announced the appointment of two new executive staff members. The company has named Joy E. Leo senior vice president and chief financial officer, and Athanasios "A.K." Kalekos vice president of marketing and business development. Leo was previously CFO of Artisan Components, Inc., and Kalekos joins CoWare from a position as general partner for Telos Ventures.

According to Alan Naumann, CoWare president and CEO, "This is an exciting time for CoWare. We are focused on developing deep partnerships with our customers to improve both their internal design process and how they take their products to market. CoWare's expanded offering continues to fuel rapid growth. With more than 40 years' combined experience in high technology, Joy and A.K. have been instrumental in growing several extremely successful electronics companies, including Artisan Components, Philips Components, and Cadence Design Systems. With this expertise, they will be invaluable in achieving the next level of success for CoWare." In her new position, Leo is responsible for management and strategic planning of all corporate financial, administration and investor relations functions. As vice president of marketing and business development, Kalekos is responsible for worldwide client and customer marketing as well as branding and strategic planning for CoWare's industry-leading ESL solutions. Both executives will report to Alan Naumann.

About Joy E. Leo

Joy E. Leo has more than twenty years of financial management experience with high technology companies. Prior to joining CoWare, she was vice president of finance and administration, chief financial officer and secretary for Artisan Components, Inc., now known as ARM Holdings PLC. Leo also served as vice president of finance and administration and chief financial officer for IMP, Inc.; vice president of finance, operations and administration at Innomedia Incorporated; and vice president and chief financial officer for Philips Components, a multi-billion dollar division of Royal Philips Electronics N.V.

About A.K. Kalekos

Athanasios "AK" Kalekos has more than twenty-five years of high tech business and marketing management experience. Prior to joining CoWare, Kalekos was a general partner with Telos Ventures. Previously, as a senior vice president at Cadence Design Systems, he was a key contributor to the company's strategic re-direction and expansion of its business model. Kalekos developed his business creation skills by working in high-growth companies and start-ups such as Computervision Corp. in the 1970s, and Versatec and Mentor Graphics in the 1980s. He has held senior management positions in engineering, marketing, and divisional general management in the United States and Europe.

About CoWare

CoWare is the leading supplier of electronic system-level (ESL) design software and services. CoWare offers a comprehensive set of electronic system-level (ESL) tools that enable SoC developers to "differentiate by design" through the creation of system-IP including embedded processors, on-chip buses, and DSP algorithms; the architecture of optimized SoC platforms; and hardware/software co-design. The company's solutions are based on open industry standards including SystemC. CoWare's customers are major systems, semiconductor, and IP companies in the market where consumer electronics, computing, and communications converge. CoWare's corporate investors include ARM Ltd. [(LSE:ARM); (Nasdaq: ARMHY)], Cadence Design Systems (NYSE:CDN), STMicroelectronics (NYSE:STM), and Sony Corporation (NYSE:SNE). CoWare is headquartered in San Jose, Calif., and has offices around the world. For more information about CoWare and its products and services, visit http://www.coware.com.

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