X0101 4 2003-07-08 0 0001121936 VERISITY LTD VRST 0001165792 ALVAREZ CHARLIE 0 1 0 0 VP Finance & Admin and CFO Ordinary Shares 2003-07-08 4 M 0 1500 0.6 A 4304 D Ordinary Shares 2003-07-08 4 S 0 1500 14 D 2804 D Incentive Stock Option (right to buy) 0.6 2003-07-08 4 M 0 1500 14 D 1999-06-22 2008-06-22 Ordinary Shares 1500 4011 D This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Alvarez, Verisity and our brokers. Mr. Alvarez also has other derivative securities directly beneficially owned as reported on his Form 4 statement dated May 30, 2003. ISO and NQ options granted on the same day will vest collectively. Options granted the same day are exercisable as follows: 25% on the exercisable date and 1/48th monthly thereafter. Charles Gerry Alvarez 2003-07-09