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Mentor Graphics Concludes Annual Meeting of Shareholders

WILSONVILLE, Ore., May 12, 2011 — Mentor Graphics Corp. (NASDAQ: MENT) today announced that, based on preliminary estimates provided by its proxy solicitor, shareholders have elected five management director nominees and three of Carl Icahn’s nominees. In addition, shareholders approved all five of Mentor Graphics’ proposals on the agenda at the Annual Meeting.

The company expects to announce the final results of the election following the official tabulation of voting at the meeting from the Inspector of Elections, IVS Associates, Inc. The Inspector of Elections has indicated that it will take approximately one week to complete the tabulation. Assuming that final results confirm the preliminary estimates, Mentor Graphics’ five continuing directors, Walden C. Rhines, Gregory K. Hinckley, Sir Peter L. Bonfield, Patrick B. McManus and Kevin C. McDonough, will be joined by Jose Maria Alapont, Gary Meyers and David Schechter.

Commenting on today’s Annual Meeting, Mentor Graphics issued the following statement:

“Our Board and the management team will do our utmost to work cooperatively with the new directors to continue to create value for Mentor Graphics shareholders.

We want to thank Marsha Congdon, Fontaine Richardson and Jim Fiebiger for their outstanding service to Mentor Graphics and our shareholders over many years. We also appreciate the consideration and support of our shareholders.

Finally, we want to thank all of Mentor Graphics’ employees around the world for all that they do—day in and day out—to make Mentor Graphics the leading EDA company that we are. Mentor Graphics’ employees are the reason for the excellent results we have produced and the reason for the strong outlook we have for the coming year.”

About Mentor Graphics
Mentor Graphics Corporation (NASDAQ: MENT) is a world leader in electronic hardware and software design solutions, providing products, consulting services and award-winning support for the world’s most successful electronic, semiconductor and systems companies. Established in 1981, the company reported revenues over the last 12 months of about $915 million. Corporate headquarters are located at 8005 S.W. Boeckman Road, Wilsonville, Oregon 97070-7777. World Wide Web site: http://www.mentor.com/.

For more information, please contact:
Ry Schwark
Media Contact
503.685.1660
ry_schwark@mentor.com

Joe Reinhart
Investor Contact
503.685.1462
joe_reinhart@mentor.com