SOURCE: CADENCE DESIGN SYSTEMS, INC.

May 03, 2007 18:56 ET

Media Advisory: Cadence Hosts Annual Stars & Strikes Bowling Fundraiser for $1 Million to Bring Women's Initiative to Silicon Valley

SAN JOSE, CA -- (MARKET WIRE) -- May 3, 2007 --

WHO:    Cadence Design Systems (NASDAQ: CDNS) along with a who's who of
        local Bay Area companies, the San Francisco 49ers, Team Owner John
        York and Head Coach Mike Nolan

WHAT:   14th Annual Cadence Stars & Strikes Bowling Tournament Fundraiser
        Benefiting Women's Initiative for Self Employment

WHEN:   Saturday, May 12, 2007
        11:30 a.m. - 4:30 p.m. PDT

WHERE:  300 San Jose Bowling Center
        5420 Thornwood Drive
        San Jose, CA 95123
        (Behind Westfield Shoppingtown Oakridge)
The Stars & Strikes event is not open to the public. Only sponsors, their guests and other VIPs are invited to attend.

Interview opportunities available on Saturday, May 12: Mike Fister, president and chief executive officer of Cadence Design Systems; Julie Castro Abrams, chief executive officer of Women's Initiative; Mayor of San Jose Chuck Reed; selected former and current San Francisco 49ers; John York, owner of San Francisco 49ers; Coach Mike Nolan of San Francisco 49ers; representatives of sponsoring Silicon Valley companies.

Cadence, a Leading Silicon Valley Company, Steps up to Help Women's Initiative: Since 1991, Cadence Design Systems, an enabler of global electronic-design innovation, its partners and the community have raised more than $9 million for worthy charities and community programs through the Stars & Strikes fundraiser. Cadence selected Women's Initiative for Self Employment as its 2007 beneficiary because as a high-tech company with strong roots in Silicon Valley, the company realizes the importance and value in helping low-income women start successful businesses and share in the entrepreneurial spirit of Silicon Valley.

Bowling to Raise $1 Million: On Saturday, May 12, Cadence employees along with the San Francisco 49ers and local companies including Advanced Micro Devices, NVIDIA, Network Appliance, KPMG, KLA Tencor, Sun Microsystems, and others will come together for Cadence's 14th Annual Stars & Strikes Bowling Tournament in an effort to raise money for Women's Initiative for Self Employment. Funds raised will be used to help Women's Initiative build a first-class facility in the South Bay to accommodate their successful training and micro-lending program that will further help underprivileged women get ahead and start their own businesses. (a full list of sponsors can be found at http://register.cadence.com/register.nsf/stars07.sponsors)

Women's Initiative for Self Employment: A dynamic group launching the careers of women entrepreneurs in San Francisco and the East Bay, provides high-potential, low-income women with the training, managerial tools and financial support needed to lift themselves out of poverty, create jobs and to become full-fledged participants in the economy. Since its inception 19 years ago, the program has shown great success:

--  Creating 1,555 new businesses in the Bay Area with 70 percent of
    Women's Initiative graduates are in business within one year of training
--  Raising annual household income for participants from an average of
    $14,000 to $37,000 two years after training
    
Women's Initiative is Coming to Silicon Valley: The organization currently serves over 2,000 clients in Northern California and is looking to meet the growing demand for their business training and support services in Silicon Valley. Women's Initiative has identified some 40,000 women in the South Bay who fit the profile of those they typically serve with 100 percent being low-income women at the program entry; 78 percent being women of color; 46 percent speaking Spanish as their first or only language; and 29 percent being single parents.

Quotes:

"We are thrilled to be selected by Cadence for the Stars & Strikes fundraiser," said Julie Castro-Abrams, chief executive officer of Women's Initiative. "We've been planning with the city of San Jose and community leaders for well over a year to move forward with extending our program into the South Bay. With the Stars & Strikes pledge, Cadence has provided us with the significant financial commitment to kick off the capital campaign."

"Women's Initiative provides women with the managerial tools and support to lift themselves out of poverty, create jobs and to become full-fledged participants in the economy," said Mike Fister, president and chief executive officer of Cadence Design Systems, Inc. "I am impressed by the innovative programs and success in San Francisco and the East Bay. We are pleased that Cadence can play an integral part in bringing this important organization to San Jose to help low-income women start successful businesses and share in the entrepreneurial spirit of Silicon Valley."

"We have a long standing relationship with Cadence that started many years ago," said John York, Owner of the San Francisco 49ers. "The 49ers have supported the Stars & Strikes event to assist in raising money for a variety non-profit organizations throughout the Bay Area. Women's Initiative is an impressive organization that supports lower-income women on their path to financial freedom. The 49ers are more than happy to lend a hand to raise awareness and support for the establishment of a Women's Initiative in the South Bay."

About Cadence

Cadence enables global electronic-design innovation and plays an essential role in the creation of today's integrated circuits and electronics. Customers use Cadence software and hardware, methodologies, and services to design and verify advanced semiconductors, consumer electronics, networking and telecommunications equipment, and computer systems. Cadence reported 2006 revenues of approximately $1.5 billion, and has approximately 5,200 employees. The company is headquartered in San Jose, Calif., with sales offices, design centers, and research facilities around the world to serve the global electronics industry. More information about the company, its products, and services is available at www.cadence.com.

About the Women's Initiative

Women's Initiative for Self Employment provides a safe, supportive environment where high-potential, lower-income women can receive the help they need to start and grow their own businesses. In 2007 the agency has expanded services to Santa Clara, Marin and Contra Costa Counties. Women's Initiative offers a 20-session business training course, individual coaching and financing services in both English and Spanish. Women graduate with a business plan and the self-confidence to make it work. After graduation, clients can access much-needed capital through our matched savings program and our loan fund. For more information visit: www.womensinitiative.org.

Contact Information

  • Public Relations Contact:
    Nancy Szymanski
    Cadence Design Systems
    Direct: 408-473-8382
    Cell: 415-420-5008
    nancy@cadence.com

    Community Relations Contact:
    Cadence Design Systems, Inc.
    Kathy Wheeler
    Direct: 408-428-5993
    Cell: 408-910-3836
    kwheeler@cadence.com