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CADENCE ANNOUNCES EXECUTIVE MANAGEMENT TEAM FOR THE CADENCE/VALID MERGED ORGANIZATION

 CADENCE ANNOUNCES EXECUTIVE MANAGEMENT TEAM FOR
 THE CADENCE/VALID MERGED ORGANIZATION
 Appointments Conditional on Final Approval of Proposed Merger
 SAN JOSE, Calif., Nov. 25 /PRNewswire/ -- Cadence Design Systems Inc. (NYSE: CDN), a worldwide leader in electronic design automation (EDA) software, today announced the formation of a new executive management team. Although these appointments are conditional on the final approval of the Cadence/Valid merger by the shareholders of each company, the company has developed the new organization so that it will be well-positioned to quickly move forward in delivering an enhanced spectrum of EDA solutions to its worldwide customer base once the merger transaction is finalized. The new organization is structured to focus the company's resources on delivering a full range of leading-edge applications-driven solutions built on standards- driven framework technology and comprehensive support solutions.
 In the new organization, Joseph B. Costello will serve as president and chief executive officer of the new corporate entity and will have five direct reports. L. George Klaus, Valid's (NASDAQ: VLID) president and chief operating officer, will become executive vice president and chief operating officer of the company. Klaus will have responsibility for the company's product divisions, worldwide sales and customer support services. Leonard J. LeBlanc will continue in his current role as executive vice president and chief financial officer. Robert T. Jolls will serve as senior vice president of marketing and Scott W. Sherwood will remain vice president of human resources. Prabhu Goel, who previously served as president of the Computer-Aided Engineering Division at Cadence, will assume the role of chief technical officer for the company, providing ongoing technical counsel and driving the strategic direction for mixed-level top-down design.
 W. Douglas Hajjar, Valid's chief executive officer, will become vice chairman of the company, with Donald L. Lucas continuing in his role as chairman of the board.
 Klaus will have responsibility for the four product divisions within the new organization. James E. Solomon will continue as president of the Analog Division; Jeffrey A. Miller, who previously served as president of the Systems Division at Cadence, will be president of the Computer-Aided Engineering Division; Michael D. Lack will continue as the president of the Integrated Circuit Design Division; and Joseph Prang, Valid's vice president of marketing, will become president of the Systems Design Division. The four division presidents also share the designation of senior vice presidents within the new corporate organization.
 In his role of chief operating officer, George Klaus's direct reports will also include: Michael N. Schuh, who will serve as senior vice president of worldwide sales; Aki Fujimura, who will remain vice president of central engineering and information services; Manny Correia, who continues serving as vice president of customer service; and Frank White, Valid's vice president of operations, who takes on the that role for the company.
 "Between Cadence and Valid we have a tremendous amount of management talent," commented Costello. "By leveraging the management skills and technology expertise of both companies, the new combined organization will have a strong, experienced executive team that will take us well into the future."
 "As we begin to look at the wealth of solutions and services provided by each company, we're excited about the benefits we see for our customers," added Klaus. "By structuring the company the way we have, we will be able to continue to deliver leading-edge technologies to each of our market segments."
 The merger is targeted to be completed by the end of December. Combined revenue for the two companies in 1990 was approximately $390 million, with a combined employee base of approximately 2,600 worldwide.
 Valid (NASDAQ: VLID) is a leading supplier of electronic design automation (EDA) systems. The company designs, manufactures, markets and supports a full line of EDA solutions based on industry standard hardware, operating systems and networks. Valid products are used to develop electronic systems, integrated circuits (ICs), application specific ICs (ASICs) and printed-circuit boards (PCBs), as well as advanced packaging technologies such as multi-chip modules (MCBs) and hybrids. Valid has sales and support operations in more than 40 locations worldwide.
 Cadence Design Systems Inc. is a leader in the design, development and marketing of software solutions for the design of integrated circuits and electronic systems. Cadence, with offices throughout the United States, Europe and Asia, is headquartered in San Jose and is traded on the NYSE under the symbol CDN.
 -0- 11/25/91
 /CONTACT: Michael Busselen of Cadence Design Systems Inc., 408-944-7339; or Betty Skatoff of Valid, 408-944-8028/
 (CDN VILD) CO: Cadence Design Systems: Valid ST: California IN: CPR SU: TNM


RM -- SJ004 -- 7106 11/25/91 19:36 EST
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Publication:PR Newswire
Date:Nov 25, 1991
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