Photronics Appoints Vijay Persaud Vice President of Strategic Technology Manufacturing

Photronics, Inc. (Nasdaq:PLAB), a worldwide leader insupplying innovative imaging technology solutions for the globalelectronics industry, today announced an addition to its managementteam designed to further enhance the global integration of theCompany's advanced technology development and high end manufacturing.The appointment of Vijay Persaud to the newly created position of VicePresident of Strategic Technology Manufacturing is expected to supportrecently announced strategic initiatives, including the formation ofthe MP Mask Technology Center, LLC (MP Mask), a joint venture withMicron Technology and Photronics' plan to build an advanced photomasktechnology NanoFab in North America.

In his new position, Mr. Persaud will have initial responsibilityfor the North American NanoFab startup and advanced technologyintegration activities coordinated through MP Mask. He will report toPhotronics' Chief Technology Officer, Dr. Christopher Progler on allmatters relating to activities at MP Mask, as well as on alltechnology development and transfer activities into the North AmericanNanoFab. Mr. Persaud's extensive experiences within the semiconductorindustry include positions of increasing responsibility with AdvancedMicro Devices, Sematech, and DuPont Photomask. Most recently, heserved as Advanced Technology & Business Development Director for KLATencor, where he managed a variety of development programs with MicronTechnology.

Within Photronics' NanoFab strategy, the NanoFab sites will reportin a dual capacity to the newly named Chief Operating Officer Dr. S.H.Jeong and to Dr. Christopher Progler. Through Dr. Progler's expandedresponsibilities in driving global research, development and advancedproduct integration, his role in a 'two in a box' structure willinsure alignment and coordination between the Photronics' technologydevelopment and volume manufacturing deployment on a global basis.Consistent with this 'two in a box' approach, directors at existingPhotronics sites with advanced technology capability will now reportto Dr. Progler with regard to technology development and technologytransfers, and to Dr. Jeong with regard to operational execution. Dr.Progler will continue to serve as Photronics' primary executiverepresentative in all matters pertaining to the MP Mask joint venturewith Micron Technology and will report directly to Michael J. Luttati,Chief Executive Officer.

"Achieving our goals - profitable technology leadership and thetighter global integration - are a focal point inside every departmentwithin Photronics. Toward that end, MP Mask has greatly acceleratedour progress on securing technological capability. Our NanoFabstrategy will be key to bringing the full benefits of advancedphotomask technology to our global customers," noted Dr. Progler. "Asour Company builds and leverages these technology and advancedproduction assets, a continuous strengthening of our organizationalteam becomes critical. I believe Vijay will be a strong contributorwho adds critical depth to our global team, and who ultimately, willcontribute to positioning Photronics as the leading advanced photomasktechnology supplier to semiconductor companies all around the world."

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.