SAN JOSE, Calif., Dec. 16 /PRNewswire/ -- SAN JOSE, Calif., Dec. 16 /PRNewswire-FirstCall/ -- LogicVision, Inc. (NASDAQ: LGVN), a leading provider of semiconductor built-in-self-test (BIST) and diagnostic solutions, today announced that its Board of Directors has reviewed and carefully considered the December 2, 2008, unsolicited proposal from Virage Logic Corporation (NASDAQ: VIRL) with the assistance of its financial advisor, Needham & Company, LLC, and its legal advisor, Pillsbury Winthrop Shaw Pittman LLP, and unanimously determined that the proposal of $1.05 per share of common stock is inadequate and is not in the best interests of LogicVision's stockholders.

Jim Healy, LogicVision's President and Chief Executive Officer, commented, "LogicVision's Board and management are committed to enhancing shareholder value."

LogicVision's Board will continue to work with Needham & Company to consider strategic alternatives.

About LogicVision, Inc.

LogicVision provides proprietary technologies for embedded test and yield learning that enable more efficient manufacturing test of complex semiconductors. LogicVision's embedded test solutions allow integrated circuit designers to embed test functionality into a semiconductor design that is used during semiconductor production test and throughout the useful life of the chip. The company's advanced Design for Test (DFT) product line, ETCreate, works together with Silicon Insight applications and Yield Insight to improve profit margins by reducing device field returns and test costs, accelerating silicon bring-up times and shorten both time to market and time to yield. For more information on the company and its products, please visit the LogicVision website at www.logicvision.com.

LogicVision, Embedded Test and LogicVision logos are trademarks or registered trademarks of LogicVision, Inc. in the United States and other countries. All other trademarks and service marks are the property of their respective owners.

Web site: http://www.logicvision.com/