Dutton Associates Announces Investment Opinion: LogicVision Rating Maintained at Strong Speculative Buy in Update Coverage by Dutton Associates

ROSEVILLE, Calif.—(BUSINESS WIRE)—August 27, 2008— Dutton Associates updates its coverage of LogicVision (Nasdaq: LGVN) maintaining its rating at Strong Speculative Buy and a $2.20 price target. The 12-page report by Dutton senior analyst Wayne T. Lottinville, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg Professional, FactSet, Capital IQ, Zacks, Reuters, Knobias, and other leading financial portals.

LogicVision makes a semiconductor-testing technology 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. BIST helps designers better evaluate the functionality and performance of their devices throughout each stage of a complex semiconductors life cycle. BIST is particularly useful in the newer state-of-the-art, system-on-a-chip (SoC) designs. Its BIST technology is a perfect fit for these advanced chips. Digital consumer devices, including automotive devices, account for 95 percent of its business. The most important recent developments and drivers for the Company are the renewals of existing contracts, such as that with Broadcom, and the signing of new contracts, such as the one with Qualcomm. We find the Company to be a compelling, if speculative, investment opportunity. We believe LogicVision has never had a better opportunity to see its technology experience fast and widespread adoption. Our target price is based on an average price-to-sales multiple of 1.5x, which we extracted from a list of companies in LogicVisions industry. This target price reduction largely reflects the Companys revised sales expectations and pushing expected profitability into 2009.

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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