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Gold/Mining/Energy : MOSAID Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Stang who wrote (100)	10/27/1998 12:32:00 PM
From: Stang	Read Replies (1) \| Respond to of 219

NEWS FOR IMMEDIATE RELEASE MOSAID Technologies seizes new opportunity with encryption chip Ottawa, Ontario, Canada - October 27, 1998 – MOSAID Technologies Inc. (TSE: MSD) announced today that it has signed an agreement with a customer to design and supply a high-performance, multi-processor cryptographic accelerator for public and private key encryption and virtual private network applications. The agreement calls for MOSAID to be paid $4-million as a non-recurring engineering fee for developing the chip. In addition, under the terms of the agreement, MOSAID becomes the exclusive supplier of finished, tested chips to the customer. This development and supply contract is the next logical step towards the Company becoming a fabless semiconductor company. "Security of corporate data over Internet and extranet connections is becoming increasingly important," said Dan Mathers, Senior Vice President and General Manager of MOSAID's Semiconductor Division. "Today's agreement will allow MOSAID to expand into a strong growth market by developing a true system-on-a-chip (SOC), merging memory, logic and microprocessors together on a single die. The chip will overcome current technological barriers by having a highly flexible, fully programmable architecture capable of accelerating both current and future encryption algorithms." "We're pleased to be able to collaborate with this partner on a very exciting product," said George Cwynar, President and CEO of MOSAID Technologies Inc. "Not only do we benefit from applying our engineering talent in the design phase, but we also profit from future chip sales. For the first time, we're involved in all stages of the development and supply of a sophisticated integrated circuit." MOSAID Technologies Incorporated is a leading supplier of engineering memory test systems and a leading independent memory chip design company. MOSAID designs, manufactures and markets engineering test systems for memory chips, and also designs advanced chips, including both standard memory and integrated solutions such as Application Specific Memory (ASM) and system-on-a-chip. MOSAID is traded on the Toronto Stock Exchange under the symbol MSD. For a list of recent news releases and financial information, visit our web site at www.mosaid.com. ------------------- mosaid.com./news/press/index.html ------------------------- Stang