Dutton Associates Announces Investment Opinion: LogicVision Rated Speculative Buy In Initiating Coverage By Dutton Associates

EL DORADO HILLS, Calif.—(BUSINESS WIRE)—March 10, 2008— Dutton Associates initiates its coverage of LogicVision (Nasdaq: LGVN) with a Speculative Buy rating and a $2.50 price target (post 3/12 split). The 17-page report by Dutton senior analyst Wayne T. Lottinville, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals.

LogicVision makes better semiconductor tests. LogicVision's technology is called built-in self-test, or BIST. This is a technique of designing additional hardware and software features into integrated circuits (ICs) to allow them to perform self-tests using their own circuits, as opposed to the older method that employs external automated test equipment (ATE). The main driver for the widespread development and use of BIST techniques is the growing complexity of ICs. LogicVision's BIST helps designers better evaluate the functionality and performance of their devices throughout each stage of a complex semiconductor's life cycle. LGVN's products reduce manufacturing and test costs, accelerate silicon bring-up times, provide for yield learning, improve time-to-yield, and cut field returns. LogicVision's technology is particularly useful in newer state-of-the-art, system-on-a-chip (SoC) designs, with its ever-decreasing feature widths. Digital consumer devices, including automotive devices, account for 95% of LogicVision's business, management says, and that segment of the market is projected to grab an increasing share of the overall semiconductor market. Given the growing complexity that comes with today's SoCs, LogicVision has never had a better opportunity to see its technology experience fast and widespread adoption. For 2008, Dutton Associates projects that the Company could increase sales 21% to $14 million. Although management expects to move into the black by 4Q, our projections suggest that this is more likely to happen in 2009. Our price target of $2.50 is post the upcoming March 12 reverse stock split.

About Dutton Associates

Dutton Associates is one of the largest independent investment research firms in the U.S. Its 30 senior analysts are primarily CFAs and have expertise in many industries. Dutton & Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.

The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $35,000 from the Company for 4 Research Reports with coverage commencing on 3/10/2008. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.


Dutton Associates
John M. Dutton, President, 916-960-0623

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