Photronics Appoints Dr. Sang Soo Choi to the Position of Chief Technology Officer-Asia

In this newly created position, Dr. Choi will be directlyresponsible for all regional development activities designed tosupport Asian semiconductor photomask customers. As Photronics'recently announced Asian NanoFab comes on line, his technologydevelopment responsibilities will be extended to include day-to-daysite director level management of the NanoFab's advanced technologymanufacturing operations. As defined within Photronics' NanoFabstrategy, NanoFab sites will report in a dual capacity to ChiefOperating Officer Dr. SH Jeong with respect to volume productionactivities and to Dr. Christopher Progler in all matters related totechnology development and transfer. As Dr. Choi's role expands toinclude advanced technology volume manufacturing, he will transitionto the "two in a box" management structure where in addition toreporting to Dr. Progler, he will also report to Dr. Jeong.

"As our newly appointed CTO-Asia, SS brings essential managementdepth and technical expertise to a position that is enablingPhotronics to more effectively service the needs of our rapidlyevolving customers in Asia," commented Dr. Progler. "He will beplaying a crucial role in how the Company is focusing on alignment andcoordination between the Photronics' technology development and volumemanufacturing deployment on a global basis, thus insuring that alldevelopment activities in which we are engaged are complimentary andsupportive in achieving our primary goal - profitable technologyleadership."

Over the course of his a 17-year career, Dr. Choi has heldpositions of increasing responsibility with the Electronic andTelecommunications Research Institute of Korea and PKL Co., Ltd. Heholds B.S., M.S. and Ph.D. degrees from Kyungpook National Universityin Daegu. Prior to being appointed to his current position, Dr. Choiserved Photronics as Executive Vice President of R&D for PKL Co., Ltd.His impressive record of achievements include his team's successfuldevelopment of a haze-free process crucial to the high fidelityimaging of advanced semiconductor circuit patterns in waferfabrication facilities utilizing advanced 193 nanometer lithographysystems.

Photronics is a leading worldwide manufacturer of photomasks.Photomasks are high precision quartz plates that contain microscopicimages of electronic circuits. A key element in the manufacture ofsemiconductors and flat panel displays, photomasks are used totransfer circuit patterns onto semiconductor wafers and flat panelsubstrates during the fabrication of integrated circuits, a variety offlat panel displays and, to a lesser extent, other types of electricaland optical components. They are produced in accordance with productdesigns provided by customers at strategically located manufacturingfacilities in Asia, Europe, and North America. Additional informationon the Company can be accessed at www.photronics.com.

"Safe Harbor" Statement under the Private Securities LitigationReform Act of 1995: Certain statements in this release are considered"forward looking statements" within the meaning of the PrivateSecurities Litigation Reform Act of 1995. All forward lookingstatements involve risks and uncertainties. In particular, anystatement contained in this release regarding the consummation andbenefits of future acquisitions, expectations with respect to the MPMask Technology Center LLC joint venture with Micron Technology, theplanned fabrication facilities, future sales, financial performance,operating efficiencies and product expansion, are subject to known andunknown risks, uncertainties and contingencies, many of which arebeyond the control of the Company. These factors may cause actualresults, performance or achievements to differ materially fromanticipated results, performances or achievements. Factors that mightaffect such forward looking statements include, but are not limitedto, overall economic and business conditions; the demand and receiptof orders for the Company's products; competitive factors in theindustries and geographic markets in which the Company competes;changes in federal, state and foreign tax requirements (including taxrate changes, new tax laws and revised tax law interpretations); theCompany's ability to place new equipment in service on a timely basis;interest rate fluctuations and other capital market conditions,including foreign currency rate fluctuations; economic and politicalconditions in international markets; the ability to obtain a new bankfacility or other financings; the ability to achieve anticipatedsynergies and other cost savings in connection with acquisitions andproductivity programs; uncertainties with respect to the integrationand management of a new joint venture, delays in the construction andequipping of the planned fabrication facilities, the ability totransfer licensed applications to other applications, the timing,impact and other uncertainties of future acquisitions and investments;the seasonal and cyclical nature of the semiconductor industry; theavailability of capital; management changes; damage or destruction toour facilities by natural disasters, labor strikes, political unrestor terrorist activity; the ability to fully utilize its tools; theability of the Company to receive desired yields, pricing, productmix, and market acceptance of its products; changes in technology; andother risks and uncertainties set forth in the Company's SEC filingsfrom time to time. Any forward-looking statements should be consideredin light of these factors. The Company assumes no obligation to updatethe information in this release.