Exhibit 99.1

[Mentor Graphics Logo]

FOR IMMEDIATE RELEASE

MENTOR GRAPHICS CORPORATION ANNOUNCES PRICING OF PRIVATE OFFERING OF 6-7/8%
CONVERTIBLE SUBORDINATED NOTES DUE 2007

WILSONVILLE, OR - May 29, 2002 - Mentor Graphics Corporation (Nasdaq: MENT)
today announced the pricing of a private offering of $150 million aggregate
principal amount of its 6-7/8% Convertible Subordinated Notes Due 2007 to be
issued pursuant to Rule 144A. The company has granted to the initial purchasers
of the Notes an option to purchase up to an additional $22.5 million principal
amount of Notes for a period of 30 days from the execution of the purchase
agreement. Mentor Graphics intends to use the net proceeds generated from the
offering to fund its acquisition of Innoveda, Inc. Any remaining proceeds are
expected to be used for general corporate purposes.

The Notes will bear interest at a rate of 6-7/8% per annum, payable
semi-annually on June 15 and December 15 of each year commencing December 15,
2002. The Notes will be convertible into the company's common stock initially at
a conversion price of $23.27 per share. At the initial conversion price, each
$1,000 principal amount of Notes will be convertible into approximately 42.97
shares of the company's common stock.

The Notes will be redeemable at specified prices declining to 100% of the
principal amount plus accrued and unpaid interest at the company's option
beginning on June 20, 2005, upon at least 20 days but not more than 60 days
notice by mail to holders of Notes.

The holders of the Notes will have the ability to require the company to
repurchase the Notes in the event that the company undergoes a change of
control. In such

case, the repurchase price would be 100% of the principal amount of the Notes
plus accrued and unpaid interest.

The Notes and common stock issuable upon conversion have not been registered
under the Securities Act of 1933, as amended, or any state securities laws, and
may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.

This release contains forward-looking statements, which are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that forward-looking statements in this release involve
risks and uncertainty that could cause actual results to differ materially from
current expectations.

CONTACTS

For Mentor Graphics Corporation
Ryerson Schwark
503/685-1660

or

The Abernathy MacGregor Group
Chuck Burgess
Jason Thompson
(212) 371-5999