Photronics Chief Operating Officer Soo Hong Jeong Honored by Korean Government

Photronics, Inc. (Nasdaq: PLAB), a worldwide leader in supplying innovative imaging technology solutions for the global electronics industry, announced that Dr. Soo Hong ("SH") Jeong, the Company’s chief operating officer and president of Asia Operations, received the Tin Tower Order of Industrial Service Merit by the Korean government. The award presentation was made at the commemoration of the Third Semiconductor Day held by the Korea Semiconductor Industry Association ("KSIA”) in recognition of Dr. Jeong’s distinguished contribution to the development of Korea's semiconductor industry.

Dr. Jeong was appointed chief operating officer of Photronics in 2006, and has also served as president of Asia operations since 2004. He originally joined Photronics in 2000 when the Company acquired PK, Ltd. ("PKL") in Korea, a company he founded in 1995 as a spin-off from Anam Semiconductor. Dr. Jeong continues to serve as chairman of PKL. He has assumed roles of increasing responsibility in recognition of his success in expanding Photronics’ advanced technology capabilities to service customers in both the integrated circuit and flat panel display industries.

"SH has consistently demonstrated a talent for identifying growth markets and then positioning Photronics to capitalize on these opportunities," said Constantine Macricostas, chairman and chief executive officer of Photronics, Inc. "He has been instrumental in Photronics’ success in developing leading-edge capabilities and taking an increasing share of the photomask market for advanced semiconductor technologies and flat panel displays. SH’s colleagues at Photronics recognize his drive for excellence in the semiconductor industry and we congratulate him on this well-deserved honor."

Two Industrial Service Merit Awards were bestowed by the President of Korea at the commemoration of KSIA this year. Along with Dr. Jeong, Nam Sung Woo, vice president of Samsung Semiconductor, Inc., has also received this award. The event was held at the Tower 63 in Seoul, Korea. More than 1,000 people attended the ceremony, including the Minister of the Ministry of Knowledge Economy, congressmen, and the chairman of KSIA.

"I am humbled to receive this recognition," said Dr. Jeong. "To be acknowledged alongside a key member of Samsung, the leading-edge semiconductor business, both in Asia and worldwide, is a great honor. We will continue to strive for excellence to reflect the high standards of this prestigious award.”

About Photronics

Photronics is a leading worldwide manufacturer of photomasks. Photomasks are high precision quartz plates that contain microscopic images of electronic circuits. A key element in the manufacture of semiconductors and flat panel displays, photomasks are used to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits, a variety of flat panel displays and, to a lesser extent, other types of electrical and optical components. They are produced in accordance with product designs provided by customers at strategically located manufacturing facilities in Asia, Europe, and North America. Additional information on the Company can be accessed at www.photronics.com.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements made by or on behalf of Photronics, Inc. and its subsidiaries (the Company). The forward-looking statements contained in this press release and other parts of Photronics’ web site involve risks and uncertainties that may affect the Company’s operations, markets, products, services, prices, and other factors as discussed in filings with the United States Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental, and technological factors. Accordingly, there is no assurance that the Company’s expectations will be realized. The Company assumes no obligation to provide revisions to any forward-looking statements.

About PKL

PK Ltd. ("PKL") is a majority-owned subsidiary of Photronics, Inc. located in Korea.

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