2002 News Releases

"FOR IMMEDIATE RELEASE"

MOSAID Announces Intention to Make Normal Course Issuer Bid

OTTAWA, Ontario, Canada – October 8, 2002 – MOSAID Technologies Incorporated (TSE:MSD) today announced its intention to make a normal course issuer bid through the facilities of The Toronto Stock Exchange. MOSAID intends to purchase up to 300,000 common shares, representing 2.9 percent of the 10,258,926 common shares issued and outstanding as of October 1, 2002. The issuer bid will commence on October 9, 2002 and will not extend beyond October 8, 2003. In no event will MOSAID purchase in any given 30-day period during the course of the bid more than 2 percent of the common shares issued and outstanding as at the commencement of this bid.

Any MOSAID share purchases will be made on the Toronto Stock Exchange at market prices and the purchased shares will be cancelled. MOSAID believes that its strong cash position supports such share repurchases and that any purchases made will be in the best interests of the shareholders. To MOSAID's knowledge, after reasonable inquiry, none of the directors, officers or other insiders of MOSAID or any associate of any such persons, or any associate or affiliate of MOSAID currently intends to sell common shares to MOSAID during the course of the issuer bid.

MOSAID has purchased 100,800 Common Shares under a Normal Course Issuer Bid within the past twelve months.

About MOSAID
MOSAID Technologies Incorporated is an independent semiconductor company operating through three divisions:

• Semiconductor – a fabless provider of networking chips
• Intellectual Property – a licensor of intellectual property to semiconductor manufacturers worldwide
• Systems – the leading supplier of engineering memory test and analysis systems to memory manufacturers, foundries and fabless chip companies.

Founded in 1975, MOSAID is based in Ottawa, Ontario, Canada, with offices in Santa Clara, California; Newcastle upon Tyne, U.K; and Tokyo, Japan. For more information, visit the Company’s web site at www.mosaid.com.

Forward Looking Information
This document may contain forward-looking statements relating to the Company’s operations or to the environment in which the Company operates. Such statements are based on current expectations that are subject to a variety of risks and uncertainties that are difficult to predict and/or beyond MOSAID’s control. Actual results may differ materially from those expressed in any forward-looking statements, due to factors such as customer demand and timing of purchasing decisions, product and business mix, competitive products, pricing pressures as well as general economic and industry conditions. MOSAID assumes no obligation to update these forward-looking statements, or to update the reasons why actual results could differ from those reflected in any forward-looking statements. Additional information identifying risks and uncertainties is contained in other public filings with the Ontario Securities Commission.

For more information, please contact:

Investor Inquiries Heidi Vincent Director, Investor Relations & Communications 613-599-9539 x1205 vincent@mosaid.com

Media Inquiries Sara Haskill Communications Specialist 613-599-9539 x1228 haskill@mosaid.com