Dr. Soo Hong Jeong Appointed Chief Operating Officer of Photronics, Inc.

Prior to being appointed Chief Operating Officer, Dr. Jeong servedthe Company as President of Asian Operations, a position he has servedin since 2004 and which he will continue to hold. He originally joinedPhotronics in 2000 when the Company acquired PK, Ltd. in Korea, acompany he founded in 1995 as a spin-off from Anam Semiconductor. Dr.Jeong has assumed roles of increasing responsibility in recognition ofhis success in expanding Photronics' advanced technology capabilitiesto service customers in both the integrated circuit and flat paneldisplay industries. In this new role, he will be focused onfacilitating the smooth transfer of technology between the newNanoFabs coming on line toward the end of calendar 2007; the rampingup of the Company's new operations in Taichung, Taiwan for flat paneldisplay masks and in Shanghai, China for semiconductor masks; and onoptimizing high-end and mainstream technology manufacturing yields ateach manufacturing site in Asia, Europe and North America.

In commenting on Dr. Jeong's appointment, Michael J. Luttati,Photronics' Chief Executive Officer noted, "S.H. has been a catalystfor positive change since coming to Photronics. He has consistentlydemonstrated a talent for identifying opportunities and thenpositioning Photronics as a leader in these active markets, which nowinclude advanced semiconductor technologies and flat panel displays."He added, "S.H. will be working very closely with Dr. Chris Progler,our Chief Technology Officer as part of a coordinated 'two in a box'structure designed to insure that our advanced technology developmentand manufacturing processes are globally integrated in a seamlessfashion. I expect that in his new role, S.H.'s contributions will bethe source of great momentum in Photronics' being able to achieveprofitable technology leadership and deliver the benefits associatedwith tighter global integration."

"Our semiconductor and flat panel display customers arecontinually racing forward with new technologies that differentiatethem in an increasingly competitive global market," added Dr. Jeong."At Photronics, we must move even more quickly. Increasingefficiencies and tighter coordination across all aspects of ourtechnology deployment, manufacturing and service, will furtherdifferentiate the valuable innovations Photronics brings to itsrelationships with customers. With responsibility for globalmanufacturing, I will be working closely with Sales and R&D to insurethat our global operations exceed the expectations that our customersdemand from their primary supplier of photomask technology andservices."

Dr. Jeong lives in Seoul, South Korea with his family. He holds aPhD in Electronic Engineering from Kyung Book University.

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.