SOURCE: Open-Silicon

May 22, 2006 12:00 ET

Open-Silicon Selected as a Red Herring 100 Winner

Award Recognizes the 100 Private Technology Firms in North America Driving the Future of Technology

SUNNYVALE, CA -- (MARKET WIRE) -- May 22, 2006 -- Open-Silicon, Inc., a fabless ASIC company that provides a predictable, reliable and cost-effective alternative to traditional chip design and supply-chain models, today announced that it has been selected as a winner of the annual "Red Herring 100 North America" award by Red Herring magazine. This list of 100 privately held companies in North America recognizes those that play a leading role in innovating the technology business.

"The fact that Open-Silicon is on track to grow 3X this year shows that ASIC customers need the OpenModel solution we provide," said Naveed Sherwani, President and CEO of Open-Silicon. "Receiving recognition from Red Herring editors as a Top 100 Private Technology Company helps validate the new business model that Open-Silicon brings to the ASIC industry."

Red Herring's lists of top private companies are an important part of the renowned magazine's tradition of identifying new and innovative technology firms and entrepreneurs. Companies like Google and eBay were spotted in their early days by Red Herring editors as some that would change the way we live and work.

After receiving more than 1,000 submissions and nominations, Red Herring's editorial staff rigorously evaluated Open-Silicon and the other contenders through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development. The Red Herring 100 North America companies are at the forefront of the technologies that are changing our lives in profound ways.

"With venture capital flowing again, we're seeing a lot of innovative new companies taking on the established players with disruptive technologies and innovative business plans," said Joel Dreyfuss, Editor-in-Chief of Red Herring. "The Red Herring 100 North America companies, among them Open-Silicon, are pushing and breaking the boundaries of the technology business and we are excited to report on their success stories."

About Open-Silicon, Inc.

Open-Silicon, Inc. is a fabless ASIC company delivering the most cost-effective, predictable and reliable custom ASIC solution to electronics product customers worldwide. Open-Silicon's OpenMODEL™ is the semiconductor industry's first end-to-end custom ASIC solution based on a business model that provides a seamless, low-cost, low risk alternative to traditional models for complex ASIC design and development. For more information, visit Open-Silicon's website at www.open-silicon.com or call 408-523-1200.

About Red Herring Magazine

Red Herring magazine is a sophisticated insider's guide to the business of technology, featuring unparalleled insights on the emerging technologies driving the economy, from the Internet to wireless communications and digital entertainment. Red Herring's journalists report on how innovation and entrepreneurship are transforming business and how the business of technology is transforming the world, providing readers with a deep understanding of venture capital and capital markets. Recognized as an essential resource in today's fast-changing business world, Red Herring gets the right answers before anyone else even thinks to ask the questions. More information on Red Herring is available on the Internet at www.redherring.com.

Red Herring Spring contact: Michael Felber, mfelber@redherring.com

Media Relations contact: Xenia von Wedel, xenia@terpin.com

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