Photronics Receives Best Partner Award from UMC BR

BROOKFIELD, CT --(Marketwired - November 28, 2016) - Photronics, Inc. ( NASDAQ : PLAB ), a worldwide leader in supplying innovative imaging technology solutions for the global electronics industry, today announced that its majority owned subsidiary Photronics DNP Mask Corporation (PDMC) received the Best Partner Award from United Microelectronics Corporation (UMC) for the second consecutive year in recognition of excellent performance and support as a photomask partner.

"This award from UMC recognizes the dedication and hard work by the team at PDMC to provide excellent customer service while establishing Photronics as a photomask technology leader," stated Peter Kirlin, chief executive officer. "UMC is an important partner to us and I am extremely proud of our team for this achievement. We look forward to building upon this mutually beneficial relationship as we each expand our manufacturing technology into 28 and 14 nanometers, and build our manufacturing presence in China."

"We are pleased to recognize PDMC for their outstanding support and providing high-quality photomasks to our operations," stated P. W. Yen, chief executive officer of UMC. "UMC has always been committed to establishing win-win partnerships with our suppliers. This annual award recognizes a select few suppliers for their commitment to this vision. We would like to congratulate the entire team at PDMC, and thank them for their care and support as we work together to solidify our relationship into the future."

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. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental, and technological factors as well as decisions we may make in the future regarding our business, capital structure and other matters. These forward-looking statements generally can be identified by phrases such as "believes", "expects", "anticipates", "plans", "projects", and similar expressions. Accordingly, there is no assurance that the Company's expectations will be realized. For a fuller discussion of the factors that may affect the Company's operations, see "Forward Looking Statements" in the Company's Quarterly and Annual Reports to the Securities and Exchange Commission on Forms 10-Q and 10-K. The Company assumes no obligation to provide revisions to any forward-looking statements.