2006 News Releases

"FOR IMMEDIATE RELEASE"

MOSAID Licenses its Patent Portfolio for Use in Portable Media Players

OTTAWA, Ontario, Canada – March 15, 2006 - MOSAID Technologies Incorporated (TSX: MSD) today announced that it has licensed its patent portfolio for a five-year term for use in Application Specific Integrated Circuits (ASICs) employed in portable media players, such as MP3 players.

Under the terms of the agreement, MOSAID has granted the licensee a license, with the exclusive right to sublicense, solely for ASICs used in portable media applications. The licensee will pay MOSAID a license fee and also share all revenues generated through any such sublicenses. In addition, the licensee has purchased 25 MOSAID issued patents. Further details regarding this licensing agreement will be provided in a subsequent news release, on or before MOSAID's fiscal year-end conference call in June.

It is expected that the license and patent sale will result in increased revenues and profits in Q1 of MOSAID's next fiscal year. Therefore, MOSAID is resetting guidance for fiscal 2007. Revenues for fiscal 2007 are now expected to range between $77 to $82 million with net earnings between $19.5 to $21.5 million.

About MOSAID
MOSAID Technologies Incorporated makes semiconductors better through the development and licensing of intellectual property and the supply of memory test and analysis systems. MOSAID counts many of the world's largest semiconductor companies among its customers. Founded in 1975, MOSAID is based in Ottawa, Ontario, with offices in Sunnyvale and Santa Clara, California; Newcastle upon Tyne, U.K; and Tokyo, Japan. For more information, visit 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, Communications & Investor Relations 613-599-9539 x1205 vincent@mosaid.com

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