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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (64074)	5/29/2002 1:50:35 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Tower Semiconductor Raises Its Second Quarter Sequential Revenue Growth Forecast to At Least 35% -- Business Wire, 5/28/2002 e-insite.net Tower Semiconductor Ltd. (NASDAQ: TSEM, TASE: TOWER) announced today that orders throughout the current quarter are higher than previously expected, and therefore it currently expects sales in the second quarter to increase by at least 35% over the first quarter of 2002. In addition, the Company indicated that it expects a moderate growth rate also throughout the second half of 2002. Dr. Yoav Nissan-Cohen, Tower Co-CEO noted, "In line with the current improvement in the semiconductor market, Fab 1 utilization rates continue to rise. In addition, our Fab 2 proceeds on schedule, enabling Tower to take full advantage of the coming upturn in the market." About Tower Semiconductor Ltd. Tower Semiconductor Ltd. is an independent wafer manufacturer strategically focused on advanced Flash memory and CMOS image-sensor technologies. Tower provides manufacturing and turnkey services for integrated circuits (ICs) on silicon wafers in geometries from 1.0 to 0.35 microns, using its leading-edge technological capabilities and the proprietary designs of its customers. Tower is now prototyping 0.18-micron products in its new fabrication facility, Fab 2. When complete, Fab 2 will offer 0.18-micron and below process technologies, produce up to 33,000 200mm wafers per month and employ approximately 1,100 people. Fab 2 features advanced CMOS technology licensed from Toshiba Corporation (NIKKEI: TSE), as well as foundry standard technology, which is applicable to digital, mixed signal, CMOS image-sensor and Flash memory processes. Tower maintains a Web site at www.towersemi.com.