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InnVision Selected as Cadence Design Systems Stars & Strikes Beneficiary

Immediate Release

InnVision Contact Information
Name: Carol Shultz, Manager Community Relations
Phone: 408-292-4286
Email: [email protected]
www.innvision.org

San Jose, CA – September 17, 2002; InnVision today announced that they will be this year’s beneficiary of Cadence Design Systems annual Stars & Strikes™ fund-raiser. This year’s Stars & Strikes is the 10th since Cadence started the bowling fund-raising event in 1990. The goal this year is to raise $500,000, for InnVision and as in past years, Cadence will underwrite the cost of staging the event. The event will take place November 10, 2002 at the Oakridge Lanes in South San Jose, across from the Oakridge Mall, and will feature several San Jose Sharks players.

“We are very grateful Cadence selected InnVision as beneficiary, and the money raised will have an immediate impact on the people we help,” said Christine Burroughs, Chief Executive Officer at InnVision. “We have outgrown our Georgia Travis Center facility, and the funds form Stars & Strikes will enable us to renovate a recently acquired property that will better meet the special needs of the 100-plus women and children who rely on the center each day.”

Cadence President and CEO Ray Bingham said, “InnVision provides a critical service and is truly one of the standout organizations in this community. We are pleased to have an opportunity to help, especially at a time when we’re hearing so much about the decrease in corporate giving in this tough financial climate. We’re hopeful that companies throughout this community will see this year’s Stars & Strikes as an opportunity to contribute to a great cause and, through their sponsorships, ensure we reach our goal.”

For the third year, Cadence is teaming with The Sharks Foundation on Stars & Strikes. This non-profit arm of the San Jose hockey team will bring team players to participate in the event.

“The Sharks Foundation is pleased to be teaming up with Cadence once again at such a worthwhile fund-raising event,” Said Rob Javnes, Director of The Sharks Foundation. “The Sharks Foundation is committed to making a difference in our community. Participating in the Stars and Strikes event provides Sharks players and other participants with a great opportunity to have some fun while giving back to the community.”

$1.6 million total raised last year was a record, attributable in large part to Cadence’s pledge to match the total raised for 9/11 funds.

Companies interested in sponsorships or having a team compete in the tournament should call Kathy Wheeler, 408-428-5993.

About InnVision

InnVision has been serving the poor and homeless since 1973, recently completed a merger with Urban Ministry of Palo Alto and now serves more than 14,000 individuals annually at 17 sites throughout the South Bay. The agency addresses the needs of homeless men, women, children and mentally ill by providing programs and services through emergency shelter, transitional/supportive housing, childcare, adult education, tutoring, food, abuse and drug counseling, case management, clothing, showers, laundry, healthcare, job and life skills training and access to telephones and computers. Its shelters, called “Inns,” enforce a drug and alcohol-free environment and focus on self-help activities. For more information, visit the InnVision website www.innvision.org.

About The Sharks Foundation

The Sharks Foundation was established to help meet the educational, social, and cultural needs of the San Jose community. The Foundation offers unique resources and financial support to organizations working on a variety of community programs. The Sharks Foundation’s primary focus is on our youth, as they are the key to the long-term well being of our community. For more information, visit The Sharks Foundation website www.sjsharks.com/sharks/community.

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 electronic-based products. IEEE, the world’s largest technical professional society, honored Cadence with its 2002 Corporate Innovation Recognition award. With approximately 5,500 employees and 2001 revenues of approximately $1.4 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 is available at www.cadence.com.