EXHIBIT 99.1

FOR MORE INFORMATION, PLEASE CONTACT:

Adolph Hunter
Cadence Design Systems, Inc.
408.914.6016
publicrelations@cadence.com

Bonnie Mott
Verisity Ltd.
650.934.6800
bonnie@verisity.com

                   CADENCE AUGMENTS VERIFICATION SOLUTION AND
                    EXPERTISE THROUGH ACQUISITION OF VERISITY

      SAN JOSE, Calif. - Jan. 12, 2005 - Cadence Design Systems, Inc. (NYSE:
CDN) (Nasdaq: CDN), the world's leading supplier of electronic design solutions,
today announced that it has signed a definitive agreement to acquire Verisity
Ltd. (Nasdaq: VRST), a Mountain View, Calif.-based provider of verification
process automation (VPA) solutions. Upon completion of the acquisition, Moshe
Gavrielov, CEO of Verisity(R), will join the Cadence(R) executive management
team, and Yoav Hollander, founder and CTO, will play an integral role in setting
Cadence's verification technology direction.

      "The global electronics industry is under unprecedented pressure to
develop and bring to market innovative products as quickly as possible," said
Mike Fister, president and CEO, Cadence Design Systems. "Our acquisition of this
highly innovative team and successful business is consistent with Cadence's
focus on enabling the world's leading electronics companies to address the
demand for increasingly complex systems."

         "Customers are demanding solutions that automate the entire
verification process and make it more predictable from planning to closure,"
said Gavrielov. "This requires the integration of our VPA solution with a
unified verification infrastructure. The combination of the two companies will
greatly accelerate the delivery of these integrated solutions."



      Under the terms of the agreement, Cadence will acquire Verisity in an
all-cash transaction. Upon closing of the acquisition, which is subject to
customary shareholder and government approvals, Verisity stockholders will
receive $12 in cash in exchange for each outstanding share of Verisity stock.

      This press release contains forward-looking statements within the meaning
of the federal securities laws, including statements regarding the merger
agreement and the anticipated closing date of the merger. These statements
involve risks and uncertainties that could cause actual results and events to
differ materially, including the possibility that the closing of the merger may
be delayed, or that the merger may not close.

ABOUT CADENCE

      Cadence is the world's largest supplier of electronic design technologies
and engineering services. Cadence products and services are used to accelerate
and manage the design of semiconductors, computer systems, networking equipment,
telecommunications equipment, consumer electronics, and other electronics based
products. With approximately 4,850 employees and 2003 revenues of approximately
$1.1 billion, Cadence has sales offices, design centers, and research facilities
around the world. The company is headquartered in San Jose, Calif., and trades
on both the New York Stock Exchange and Nasdaq under the symbol CDN. More
information is available at www.cadence.com.

ABOUT VERISITY

      Verisity Ltd. (NASDAQ:VRST) is the leading supplier of process automation
solutions for the functional verification market. The company addresses
customers' critical business issues with its market-leading software and
intellectual property (IP) that effectively and efficiently verify the design of
electronic systems and complex integrated circuits for the communications,
computing, and consumer electronics global markets. Verisity's VPA solutions
enable projects to move from executable verification plans to module, unit, and
chip/system level 'total coverage' and verification closure, while maximizing
productivity, product quality, and predictability of schedules.



      The company's strong market presence is driven by its proven technology,
methodology and solid strategic partnerships and programs. Verisity's customer
list includes leading companies in all strategic technology sectors. Verisity is
a global organization with offices throughout Asia, Europe, and North America.
Verisity's principal executive offices are located in Mountain View, California,
with its principal research and development offices located in Rosh Ha'ain,
Israel. For more information, visit www.verisity.com.


Cadence and the Cadence logo are registered trademarks of Cadence Design
Systems, Inc. All other trademarks are the property of their respective owners.

Verisity and the Verisity logo are either registered trademarks or trademarks of
Verisity Design, Inc., in the United States and/or other jurisdictions. All
other trademarks are the property of their respective holders.