BOSTON--(BUSINESS WIRE)--May 20, 2002--Teradyne (NYSE:TER) today announced the creation of an Open Architecture Initiative for its newly introduced FLEX test system. This initiative enables third parties to both co-operatively and independently develop and market instrumentation options for the FLEX system. Teradyne introduced the FLEX in March of this year as the next innovation in high-volume, high-mix IC test.

"This initiative will provide our customers with access to a wider range of instrumentation on the FLEX platform with an accelerated time to market," said Mark Jagiela, Vice President and General Manager of Teradyne's Semiconductor Test Group. "The unique elements of the FLEX architecture have set the stage for this initiative. The FLEX's Universal Slot and Microsoft Windows based operating system are two specific features that will allow third parties to develop products quickly. With FLEX already in the marketplace, opening its architecture gives us a leading position in the industry. We welcome third party participation in our market."

"Teradyne's leading market share position in SOC test provides third parties with access to an attractive market," continued Jagiela. "In addition, several of our customers have expressed interest in developing options for FLEX that serve their specific needs. For FLEX customers, this initiative further enhances the value of the investment they are making in the platform."

About FLEX

FLEX combines several test technology advancements to meet the demands of increasing device complexity and testing an increasing range of devices, while reducing the cost of test. A Universal Slot architecture and the Windows based IG-XL5 software redefine test system configuration flexibility on the production floor. The FLEX's precise Time Tracks(TM) timing system and Background DSP introduce an unparalleled level of throughput efficiency. IG-XL5 software will reduce development-to-market time for an array of devices from standard analog to SOC. The system's new technical developments are united with power analog, baseband, and microwave instrumentation along with second-generation CMOS digital. To learn more about FLEX, visit www.teradyne.com/integraflex.

About Teradyne

Teradyne (NYSE: TER) is the world's largest supplier of automatic test equipment and is also a leading supplier of high performance interconnection systems. Teradyne's test products are used by manufacturers of semiconductors, circuit assemblies, voice and broadband telephone networks. Teradyne's backplane assemblies and high-density connectors are used by manufacturers of communications and computing systems central to building networking infrastructure. The company had sales of $1.4 billion in 2001 and currently employs about 8000 people worldwide. For more information visit www.teradyne.com.

Time Tracks is a trademark of Teradyne, Inc.