See accompanying Notes to the Condensed Consolidated Financial Statements

MOSAID TECHNOLOGIES INCORPORATED                                            
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS                             
(In thousands of Canadian Dollars)                                          
(unaudited)                                                                 
                                                                            
                                                       July 31,    July 31, 
Period Ended                                               2011        2010 
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Operating                                                                   
Net income                                               $2,576      $5,083 
Items not affecting cash                                                    
  Amortization                                            4,051       3,411 
  Stock-based compensation                                  560         486 
  Unrealized foreign exchange loss on other long-                           
   term liabilities                                         197         618 
  Deferred income taxes and investment tax credits          310         215 
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                                                          7,694       9,813 
Change in non-cash working capital items (Note 11)        3,503      (4,837)
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                                                         11,197       4,976 
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Investing                                                                   
Acquisition of property and equipment and acquired                          
 intangibles                                             (1,107)        (74)
Acquisition of marketable securities                     (5,698)     (9,909)
Proceeds on disposal and maturity of marketable                             
 securities                                              11,282      10,492 
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                                                          4,477         509 
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Financing                                                                                                                                      
Increase  in  other  long-term  liabilities                                          457                  747  
Dividends  paid                                                                                      (2,623)          (2,943)
Issuance  of  common  shares                                                                      139                    78  
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                                                                                                                  (2,027)          (2,118)
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Net  cash  inflow                                                                                    13,647              3,367  
Cash  and  cash  equivalents,  beginning  of  period                      97,809            70,732  
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Cash  and  cash  equivalents,  end  of  period                              $111,456          $74,099  
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Supplementary  Information:                                                                                                    
                                                                                                                                                        
Cash  on  hand  and  bank  balances                                                  $111,456          $74,099  
Short-term  investments                                                                                -                      -  
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Total  cash  and  cash  equivalents                                                $111,456          $74,099  
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