PASTEL is a parameterized memory characterization system which extracts the characteristics of ASIC on-chip-memories such as delay, timing and power consumption which are important in LSI logic design. PASTEL is a fully-automated process from exact wire-RC extraction through circuit reduction, input vector generation, waveform measurement, data-sheet and library creation. The circuit reduction scheme can reduce the circuit simulation time by 2 order of magnitude while maintaining delay error within 100pSec of exact simulation.