AWR Expands Management Team to Position for Further Growth

EDA Company Adds Industry Veteran as Vice President of Marketing

EL SEGUNDO, Calif. -- March 17, 2003 -- Applied Wave Research, Inc. (AWR), a leading provider of high-frequency electronic design automation (EDA) tools, today announced the addition of Tom Quan to the company's executive staff. Quan, an EDA industry veteran, joined AWR as vice president of marketing and is situated in the company's Silicon Valley office.

"We are delighted to have Tom on board," said James Spoto, AWR president and CEO. "His expertise and leadership, along with his proven track record in EDA, will be instrumental in managing AWR's continued expansion and rapid growth. Tom and I worked together in the 1990s, to build the existing, highly successful, analog franchise at Cadence Design Systems, and we look forward to operating jointly again to take analog and RF EDA to the next level."

Quan has over 20 years of experience in technical and marketing roles in the semiconductor and EDA industries. He was vice president of marketing at Cadence since 2000 and, prior to that, held executive management positions at Monterey Design Systems, Duet Technologies, and High Level Design Systems. From 1989 to 1995 Quan was again at Cadence responsible for, among other things, launching and growing the complete "front-to-back" analog and mixed-signal IC EDA design solutions. Quan began his career at Intel Corporation as an IC designer and holds a BSEE from the University of California, Berkeley, and an MBA from Leavey School of Business at Santa Clara University.

Commenting on his appointment, Quan said, "I am excited to be joining a highly technical organization whose innovative product offering addresses the critical design needs of the high-growth wireless and wire-line communications industries. I am convinced AWR is poised to become the dominant provider of high-frequency EDA solutions."

About Applied Wave Research, Inc.
Applied Wave Research was founded in 1994 and is a leading supplier of high-frequency electronic design automation (EDA) products for the design of wireless telecommunications equipment, semiconductors, high-speed computers, networking systems, and a variety of other electronics-based products. AWR is a privately held company and has development offices, sales offices, training centers, and global distribution. AWR has over 400 customer companies worldwide, including virtually every major high-frequency electronic component and system supplier. The company is located at 1960 East Grand Avenue, Suite 430, El Segundo, California 90245.

AWR and the AWR logo are trademarks of Applied Wave Research, Inc. All other registered marks are the property of their respective holders.