Virage Logic Key Participant in Inaugural Armenian Technology Congress

Virage Logic Corporation (NASDAQ:VIRL), the semiconductor industry’s trusted IP partner and pioneer in Silicon Aware IP™, today announced its participation in the inaugural Armenia Technology Congress (ArmTech Congress 2007) to be held July 4–7, 2007, at the Fairmont Hotel in San Francisco. The company boasts a significant presence in the Southwest Asian nation and has contributed the time and talents of key executives – including President and Chief Executive Officer (CEO) Dan McCranie, who will deliver a keynote address, and Vice President and Chief Scientist Dr. Yervant Zorian, who serves as Program Chair – to help define and execute the conference program. "Virage Logic’s extensive participation in ArmTech Congress 2007 reflects our deep commitment to Armenia as a center for world-class engineering talent and a region in which we expect continued expansion,” said Dan McCranie, president, CEO and director of Virage Logic. "We are proud to support this inaugural conference and I trust that anyone who attends will come away with a profound appreciation for the wealth of intellectual resources Armenia has to offer.” Virage Logic in Armenia Recognizing a vital source of technology engineering talent, Virage Logic established its research and development center in Armenia in 1999, three years after the company’s founding. Today the company’s more than 100 employees in Armenia account for nearly one-quarter of its worldwide workforce and contribute to several important product development initiatives. The Armenian research and development (R&D) organization is central to the company’s groundbreaking Self-Test and Repair (STAR) Memory System™, the semiconductor industry’s first integrated embedded test and repair memory system and the first of the company’s Silicon Aware IP solutions. In addition to development of the STAR Memory System, the Armenian engineering team is involved in the development of the company’s software, NOVeA® non-volatile embedded memory product, I/O products and overall memory design. "Our Armenia R&D center was largely responsible for the STAR Memory System, a significant product that has enabled customers to improve their semiconductor yield by up to 250 percent,” said Dr. Zorian. "Based on the consistent innovation and results our Armenian engineers have produced, we see our growing investment in the region as offering substantial dividends for our products and our customers.” About ArmTech Congress 2007 The inaugural ArmTech Congress 2007 is expected to draw several hundred attendees – from the United States, Armenia and around the world – from various disciplines including technology, investment, government and academia. The conference program will offer tracks on Education, Telecom, Software, Digital Media, Semiconductor Design and Test, Renewable and Alternative Energy, Research and Development, Investment, Bio Tech, and Fine Chemical Technologies to showcase the breadth of opportunities in Armenia. For more information or to register for the conference, please visit http://www.armtechcongress.com. Virage Logic at ArmTech Congress 2007 The following sessions include participants from Virage Logic’s U.S. and Armenia operations: Thursday, July 5 8:30 a.m. to 10:20 a.m. Keynote Address: "Program Introduction" Dr. Yervant Zorian, vice president and chief scientist, Virage Logic; ArmTech Congress 2007 Program Chair 10:50 a.m. to 12:10 p.m. Paper Presentation: "Digital Media Content: E-Learning" Dr. Yervant Zorian, vice president and chief scientist, Virage Logic; ArmTech Congress 2007 Program Chair 1:40 p.m. to 3:00 p.m. Paper Presentation: "Demand in High Tech Education" Varoujan Maserejian, general manager, Virage Logic Armenia, Samvel Shoukourian, research and development program director, Virage Logic Armenia, and Dr. Yervant Zorian, vice president and chief scientist, Virage Logic; ArmTech Congress 2007 Program Chair Friday, July 6 8:30 a.m. to 10:20 a.m. Keynote Address: "Semiconductor Industry: Opportunities and Challenges" Dan McCranie, president, CEO and director, Virage Logic 10:50 a.m. to 12:10 p.m. Track Organizer: "High Tech Research and Innovation in Armenia" Samvel Shoukourian, research and development program director, Virage Logic Armenia 1:40 p.m. to 3:00 p.m. Paper Presentation: "R&D Collaboration and Affiliate Programs" Valery Vardanian, manager embedded test & repair methodology team, Virage Logic Armenia, and Avetik Yessayan, senior manager system-on-chip interface team, Virage Logic Armenia Invited Presentation: "Semiconductor Manufacturability Challenges & Opportunities" Dr. Yervant Zorian, vice president and chief scientist, Virage Logic; ArmTech Congress 2007 program chair Saturday, July 7 10:50 a.m. to 12:10 p.m. Congress Report: "ArmTech 2007 Concluding Results" Dr. Yervant Zorian, vice president and chief scientist, Virage Logic; ArmTech Congress 2007 program chair Virage Logic Availability for the Media Dan McCranie and Dr. Yervant Zorian will be available for press interviews regarding Armenia and the company’s operations there during ArmTech Congress 2007, July 4–7. To arrange an interview, please contact James McIntyre at james@mcbru.com. Additionally, Dr. Zorian will be in Armenia July 14–19 and is available for interviews with local media. To arrange an interview, please contact Peter Maghdashyan at Peter.Maghdashyan@gmail.com. For more information about ArmTech Congress 2007, please visit http://www.armtechcongress.com/information/index.php. About Virage Logic Founded in 1996, Virage Logic Corporation (Nasdaq: VIRL) rapidly established itself as a technology and market leader in providing advanced embedded memory intellectual property (IP) for the design of complex integrated circuits. Today, as the semiconductor industry's trusted IP partner, the company is a leading provider of embedded memories, logic, and I/Os, and is pioneering the development of a new class of IP called Silicon Aware IP™. Silicon Aware IP tightly integrates Physical IP (memory, logic and I/Os) with the embedded test, diagnostic, and repair capabilities of Infrastructure IP to help ensure manufacturability and optimized yield at the advanced process nodes. Virage Logic's highly differentiated product portfolio provides higher performance, lower power, higher density and optimal yield to foundries, integrated device manufacturers (IDMs) and fabless customers who develop products for the consumer, communications and networking, hand-held and portable, and computer and graphics markets. The company uses its FirstPass-Silicon Characterization Lab™ for certain products to help ensure high quality, reliable IP across a wide range of foundries and process technologies. The company also prides itself on providing superior customer support and was named the 2006 Customer Service Leader of the Year in the Semiconductor IP Market by Frost & Sullivan. Headquartered in Fremont, California, Virage Logic has R&D, sales and support offices worldwide. For more information, visit www.viragelogic.com. SAFE HARBOR STATEMENT FOR VIRAGE LOGIC UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Statements made in this news release, other than statements of historical fact, are forward-looking statements, including, for example, statements relating to industry and company trends, business outlook and products. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, which might cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include Virage Logic's ability to improve its operations; its ability to forecast its business, including its revenue, income and order flow outlook; Virage Logic's ability to execute on its strategy to become a provider of semiconductor IP platforms; Virage Logic's ability to continue to develop new products and maintain and develop new relationships with third-party foundries and integrated device manufacturers; adoption of Virage Logic's technologies by semiconductor companies and increases or fluctuations in the demand for their products; the company's ability to overcome the challenges associated with establishing licensing relationships with semiconductor companies; the company's ability to obtain royalty revenues from customers in addition to license fees, to receive accurate information necessary for calculating royalty revenues and to collect royalty revenues from customers; business and economic conditions generally and in the semiconductor industry in particular; competition in the market for semiconductor IP platforms; and other risks including those described in the company's Annual Report on Form 10-K for the period ended September 30, 2006, and in Virage Logic's other periodic reports filed with the SEC, all of which are available from Virage Logic's website (www.viragelogic.com) or from the SEC's website (www.sec.gov), and in news releases and other communications. Virage Logic disclaims any intention or duty to update any forward-looking statements made in this news release. All trademarks are the property of their respective owners and are protected herein.