Cadence Design Systems Gives $1.25 Million to Santa Clara University for New Business School; Donation Also to Help Sponsor Faculty Post for Multicultural Leadership

Business Wire, Jan 30, 2003

Business Editors/Education Writers & High-Tech Writers

SANTA CLARA, Calif.--(BUSINESS WIRE)--Jan. 30, 2003

Santa Clara University today announced that Cadence Design Systems Inc. will give $1.1 million to help build the new home for the University's Leavey School of Business. In addition, Cadence will donate $150,000 to help sponsor a new multicultural leadership faculty position.

"This support from a leading Silicon Valley innovator sustains the momentum for our new building," said business school Dean Barry Z. Posner. "With this gift, we are already close to the halfway point in our $40-million fund-raising campaign."

Posner said that with the Cadence gift, the University has raised $19.4 million raised towards the $40 million goal for the new business school, more than $2.7 million over the last six months.

Santa Clara University last fall announced a campaign to raise $350 million by 2006 for scholarships; faculty; technology; and new buildings, including the new home for the business school and a new library. The business school's cafeteria will be named "Cadence Cafe."

"While we are facing the challenges of a very tough economy, we are continuing to make investments that will guarantee both our future success and that of our community," said Cadence President and CEO Ray Bingham, who sits on the Leavey School of Business Advisory Board. "Cadence is proud to have this opportunity to support Santa Clara University. The Leavey School of Business plays a critical role in this community, providing a first-rate education to future business leaders here and throughout the world. I'm hopeful the new school and Cadence Cafe will serve as a place where these great minds come to meet and chart their paths to meaningful and fulfilling careers."

Plans for a new three-story, 82,000-square foot business school building at the northeast corner of the Santa Clara campus were unveiled a year ago, when Donald L. Lucas, one of Silicon Valley's pioneer venture capitalists, pledged $15 million for the project. Lucas is chairman of the Cadence board of directors.

Initial plans for the new business school building call for a consolidation of all business school classrooms and offices into a single structure, with a high-tech interior that includes MBA and executive classrooms, conference rooms and services on Franklin Street in Santa Clara. It also will be the new home for the University's Center for Science, Technology and Society, and the business school's Center for Innovation and Entrepreneurship, Retail Management Institute and Executive Development Center.

SCU already has raised more than $164 million of its goal for the Campaign for Santa Clara. In the last three years, in addition to the Lucas gift, the University has announced a $20 million gift from Lorry Lokey for scholarships and a new library, a $15 million gift from the Leavey Foundation to rebuild the Leavey Center athletic facility, and a $12 million gift from the Jesuit Community of Santa Clara for scholarships and community education.

Architect's drawings of the new business school are available. For more information or to schedule interviews, call Barry Holtzclaw, media relations, at 408-396-4491.

About Cadence

Cadence is the largest supplier of electronic design technologies, methodology services, and design services. Cadence solutions are used to accelerate and manage the design of semiconductors, computer systems, networking and telecommunications equipment, consumer electronics, and a variety of other electronics-based products. With approximately 5,200 employees and 2002 revenues of approximately $1.3 billion, Cadence has sales offices, design centers, and research facilities around the world. The company is headquartered in San Jose, Calif., and traded on the New York Stock Exchange under the symbol CDN. More information about the company, its products and services are available at www.cadence.com.

About the Leavey School of Business

The Leavey School of Business at Santa Clara University began in 1926, and offers a professional education emphasizing humanistic and moral development as well as technical proficiency. Approximately 1100 students are enrolled in the MBA program, rated one of the top 20 part-time programs in the U.S., attracting working professionals in Silicon Valley. Its undergraduate business programs are ranked third in California by U.S. News and World Report.

For more information, see www.scu.edu/business; to see sketches of the new building, see http://business.scu.edu/building/artist_conceptions.htm.> About Santa Clara University:

Santa Clara University is a private Jesuit, Catholic university with 4,643 undergraduate and 3,417 graduate students, offering a rigorous undergraduate curriculum and nationally recognized business, engineering and law schools, plus interdisciplinary centers that promote ethics and social justice, and explore the impact of technology. See www.scu.edu.