Monolithic System Technology, Inc. CFO F.Judson Mitchell Retires

Company welcomes back MoSys veteran Mark Voll as new CFO

SUNNYVALE, CALIFORNIA (May 15, 2002) - Monolithic System Technology, Inc. ("MoSys") (NASDAQ:MOSY) announced today that F. Judson Mitchell, Chief Financial Officer and Secretary, is retiring from business in June 2002. Mr. Mitchell has been with MoSys since July 2000 and was instrumental in positioning the Company for its initial public offering, which was completed in July 2001.

MoSys also announced that Mark Voll will be named new CFO and will join MoSys in June 2002. Mr. Voll previously held the position of CFO with MoSys from March 1998 to June 2000. He returns to MoSys from Axis Systems where he has served as CFO since June 2000. Since 1984, he has held the top financial spot in a number of companies in the Santa Clara Valley, including Lextel, Mountain Network Solutions, Unisil Corporation, and Virtual Media. Mr. Voll holds an MBA from the University of Hartford and a BS in Business Administration from Providence College.

Dr. Fu-Chieh Hsu, MoSys CEO, noted that "Judson Mitchell made an excellent contribution to MoSys in preparing for our IPO last year, and he has provided us with the experienced guidance we needed as a new public company. He has been a great spokesman for the company with our investors. Judson's retirement concludes a distinguished career with high-technology companies in Silicon Valley, and we wish him the very best."

Dr. Hsu further stated, "We are fortunate and pleased that Mark Voll is rejoining our company. Mark played an important role in the development of our company and its transition to a licensing business model, and will quickly become effective again."

ABOUT MOSYS

MoSys develops, licenses and markets innovative memory technology for semiconductors. MoSys' patented 1T-SRAMÒ technology offers a combination of high density, low power consumption, high speed and low cost unmatched by other available memory technologies. The single transistor bit cell used in 1T-SRAM technology results in the technology achieving much higher density than traditional four or six transistor SRAMs while using the same standard logic manufacturing processes. 1T-SRAM technology also offers the familiar, refresh-free interface and high performance for random address access cycles associated with traditional SRAMs. In addition, this technology can reduce operating power consumption by a factor of four compared with traditional SRAM technology, contributing to making it an ideal technology for embedding large memories in System on Chip (SoC) designs. 1T-SRAM technology is in volume production both in SoC products at MoSys' licensees as well as in MoSys' standalone memories. MoSys is headquartered at 1020 Stewart Drive, Sunnyvale, California 94085. More information is available on MoSys' website at http://www.mosys.com.

Note for Editors:

1T-SRAM^® is a MoSys trademark registered in the U.S. Patent and Trademark Office. All other trademarks or registered trademarks are the property of their respective owners.