1969 - Photronic Labs, Inc. is founded in Danbury, Connecticut

1978 - Responding to rapid growth, the Company relocates from Danbury to a larger facility in neighboring Brookfield, Connecticut.

1982 - The first electron beam lithography system, a MEBES I, is installed.

1984 - Connecticut Development Bonds are issued to fund expansion of Connecticut manufacturing facilities.

1985 - A new 20,000 square foot building is added to the Brookfield campus to accommodate continuing expansion.

A second electron beam lithography system, a MEBES III, is installed.

1987 - An initial public offering is completed. The Company is listed on the NASDAQ under the symbol PLAB.

Production begins at its second manufacturing facility in Milpitas, California, making the Company the only photomask manufacturer with operations on both the East and West coast.

1988 - The photomask manufacturing operations of Microfab Systems Corporation are acquired.

1989 - The Company takes a 50% equity interest in Beta Squared, a systems maintenance service provider to the semiconductor industry.

The captive photomask manufacturing operations of Martin Marietta Corporation are acquired and integrated into the Brookfield, Connecticut facility.

1990 - Photronic Labs, Inc. is renamed Photronics, Inc.

The first laser lithography system, a CORE 2000, is installed in Milpitas, California.

The MEBES I in Brookfield, Connecticut is replaced with a MEBES III.

A second public equity offering is completed.

1991 - The captive photomask manufacturing operations of Analog Devices are acquired.

A third public equity offering is completed.

1992 - A CORE 2564 laser lithography system is installed in the Milpitas, California facility.

The captive photomask manufacturing operations and assets of Unisys Corporation are acquired.

1993 - Photronics is recognized as a "National Blue Chip Enterprise" by the United States Chamber of Commerce.

Photronics acquires the independent photomask manufacturing operations of Toppan Printonics (formerly the Texas Instruments captive photomask shop), thereby establishing a major operating presence in the strategically important Southwestern U.S. market. The manufacturing network is expanded to three facilities.

The captive photomask manufacturing assets of Raytheon Corporation are acquired.

1994 - Ground is broken in Allen, Texas, a Dallas suburb, as construction begins on the Company's flagship facility. Existing Dallas operations that had been recently acquired from Toppan Printonics are to be relocated upon completion. The transition from Dallas to Allen is expected to be complete by the end of fiscal 1996.

Independent photomask manufacturer Hoya Micro Mask in Sunnyvale, California is acquired. This acquisition firmly establishes Photronics as North America's largest independent photomask manufacturer with four manufacturing sites.

1995 - A three-for-two stock split, the Company's first, is approved by the Board of Directors.

Plans to begin manufacturing operations in Singapore are announced. This facility will position Photronics as the only independent photomask manufacturer in Southeast Asia. Production is scheduled to begin during the second half of fiscal 1996.

A major technology and capacity expansion program is implemented covering all aspects of the photomask manufacturing process.

A new research & development lab is built and equipped in the Milpitas, California facility.

A fourth public equity offering is completed.

A MEBES 4000 electron beam lithography system is installed in the Milpitas, California facility. An upgrade to a MEBES 4500 is planned.

ISO 9002 Certification is achieved at both the Dallas, Texas and Brookfield, Connecticut facilities.

Strategic alliances with MRS Technology and UltraTech Stepper are signed. Both companies manufacture steppers used in the production of integrated circuits and related products requiring a photolithographic process.

Microphase Laboratories in Colorado Springs, Colorado is acquired. This operation expands the Company's North American manufacturing network to five facilities and enhances its large area photomask capability.

Cirrus Logic enters into a dedicated photomask capacity agreement. Under the terms of the accord, the company agreed to provide Photronics with leading-edge lithography and inspection equipment in return for dedicated capacity and rapid delivery of photomasks.

Photronics enters the European photomask market with the acquisition of GEC Plessey Semiconductors' captive photomask operations. This facility represents the Company's first wholly-owned manufacturing site outside of North America and expands the global manufacturing network to six locations.

1996 - Photronics makes minority equity investment in P.K. Ltd, formerly ANAM S&T Photomask - a leading independent photomask manufacturer in Korea.

The MEBES 4000 electron beam lithography system is upgraded to a MEBES 4500.

Integrated Device Technology enters into a dedicated photomask capacity agreement. Under the terms of the accord, the company agreed to provide Photronics with leading-edge lithography and inspection equipment in return for dedicated capacity and rapid delivery of photomasks.

The photomask manufacturing operations of CSEM Litomask in Neuchatel, Switzerland are acquired, expanding the Company's European manufacturing network onto the continent. The Neuchatel site brings the total number of operating facilities in the global manufacturing network to seven.

Ground is broken in Manchester, England, the site of the Company's new state-of-the-art manufacturing facility and European headquarters. Operations will be relocated from their current location on the GEC Plessey Semiconductor campus in Oldham.

Plans are announced to construct a second manufacturing facility in Texas. The new facility will be located in the greater Austin area.

The move into the new Allen, Texas facility is completed.

National Semiconductor signs guaranteed manufacturing capacity agreement with Photronics.

The Company's facility in Singapore, the only photomask manufacturing operation in Southeast Asia, begins production.

Photronics is named in Fortune Magazine's List of "100 Fastest Growing Companies."

1997 - Photronics opens newly constructed photomask manufacturing facility in Manchester, UK - the first new facility constructed in Europe this decade.

Photronics acquires captive photomask manufacturing operations of Motorola in Mesa, Arizona.

Photronics - UK expands capacity with additional CORE 2564 laser lithography tool.

Photronics partners with MicroUnity on the production of advanced optical proximity corrected photomasks.

Photronics collaborates with AISS GMbH in Switzerland on optical proximity corrected photomask research to be conducted at the Company's facility in Neuch?tel.

Photronics receives research grant from U.S. Display Consortium for large-area photomask development.

Photronics signs reticle technology agreement with ASM Lithography guaranteeing ASML's access to advanced photomask manufacturing technology.

Photronics agrees to beta test Etec Systems' ALTA 3500 next generation 0.25 micron production laser lithography tool in its newly-constructed facility in Austin, Texas.

Photronics issues $103.5 million in convertible subordinated notes.

MZD, an independent photomask manufacturer in Dresden, Germany is acquired. This is the Company's third facility in Europe.

The United Kingdom facility receives ISO 9002 certification.

Lucent Technologies and Photronics agree to explore photomask manufacturing issues for use in Bell Labs' SCALPEL(r) electron beam wafer lithography program.

Michael J. Yomazzo is named Chief Executive Officer.

Photronics announces a two-for-one stock split.

1998 - Photronics forms Office of the Chief Executive. Its members include Deno Macricostas, Chairman; Michael Yomazzo, Vice Chairman; James Northup, President; and Jeffrey Moonan, Executive Vice President.

Photronics announces a 3 million share stock repurchase program.

Photronics becomes the first photomask supplier to join IMEC, a European-based, not-for-profit research consortium.

Photronics provides reticles to Cypress Semiconductor for their first 0.25 micron device.

Photronics collaborates with SEMATECH's Delphi team, supplying them with 4x deep ultraviolet reticles that combine aggressive optical proximity correction and phase shift enhancements to resolve 100 nanometer features using a 248 nanometer light source.

The Austin, Texas facility is officially opened. Newly constructed and state-of-the-art, it adds to Photronics' dominant manufacturing position in the Southwest region of the United States. Austin also serves as the beta test site for Etec System's ALTA 3500. This 0.25? production system is the first to be installed anywhere in the world.

Photronics installs first vectorscan electron beam lithography systems produced by Ultratech Stepper and Leica MicroSystems.

1999 - Photronics and IBM form the NGL Mask Center of Competency (MCOC).

Moody's confirms B2 rating on Photronics convertible note issue.

Photronics establishes D2W, a Design-to-Wafer Services business unit to provide strategic solutions to semiconductor manufacturers faced with the widening technology gap between integrated circuit design and the fabrication of that design on the wafer.

2000 - Photronics restructures its global photomask manufacturing network by consolidating facilities in Sunnyvale, CA and Neuch?tel, Switzerland.

Photronics acquires a majority share of Precision Semiconductor Mask Corporate (PSMC), Taiwan's photomask technology leader. PSMC becomes a subsidiary of Photronics.

Photronics and Align-Rite International complete merger, creating one of the world's largest and fastest growing strategic photomask suppliers.

2001-The Company signs a multi system purchase agreement with Toshiba Machine Co., Ltd. for their EBM-3500 vector scanning electron beam photomask lithography system.

The Company's Sub-Wavelength Reticle Solutions^TM phase shift photomasks are employed as part of a joint development effort MIT Lincoln Laboratory under DARPA sponsorship that successfully demonstrated the ability to produce sub-100nm features using KrF(248nm) exposure technology.

Photronics enters into a multi-year supplier agreement with JENOPTIK Laser, Optik, Systeme GmbH for the production of special photomasks required to produce advanced binary optic products.

The Company becomes one of the founding members of the Advanced Reticle Center (ARC), a European research consortium formed to accelerate the development of advanced reticle manufacturing technologies.

Photronics finalizes its merger with Align-Rite by realigning its global photomask manufacturing network by consolidating facilities in California, Florida and Germany.

Photronics acquires a controlling equity interest in PKL, bringing its total ownership in the company to approximately 51%.

Photronics and Conexant Systems Inc. announce a strategic technology alliance and multi-year supply agreement under which Photronics became the primary supplier of photomasks to Conexant, providing the company with access to advanced photomask process technologies and services.

Photronics acquires Conexant's captive photomask shop.

Photronics raises more than $70,000 in donations resulting from employee and customer fund-raising activities to provide financial assistance for those affected by the tragic events of September 11, 2001. All employee and customer donations are matched with funds contributed by Photronics and are presented to the American Red Cross Disaster Relief Fund.

Photronics introduces a new proprietary phase mask technology for the passive optical components industry.

In a private offering, Photronics sells $175 million of Convertible Subordinated Notes due in 2006.

Senior Vice President of Operations Paul J.Fego is named Executive Vice President and Chief Operating Officer with full responsibility for all aspects of Photronics global operations, including manufacturing, sales, research & development, and information technology.

2002-As part of the Company's increased commitment to technology investment, Dr. Christopher Progler is hired by Photronics for the newly created position of Chief Scientist. 

Photronics introduces CyberMask™, a proprietary software suite that facilitates a seamless interface with semiconductor manufacturers to receive and prepare integrated circuit design data for reticle manufacturing.

Photronics outlines its strategy for expansion into China during a land grant signing ceremony with officials from the Zhangjiang Hi-Tech Park Development Corp. The Company established Photronics International Trading (Shanghai) Co., Ltd. in Waigaoqiao Free Trade Zone last year and has been operating an office in Pudong. 

Photronics celebrates 15 years as a public company traded on The Nasdaq Stock Market during an open ceremony at the Nasdaq Market site in New York City's Times Square. The Company, which went public on March 10, 1987 has seen its market capitalization grow from less than $10 million to over $1 billion. Revenue growth in this 15 year period has been equally strong, having grown from $8 million to $378 million in fiscal 2001, its most recently reported fiscal year.

Photronics acquires an additional 859,730 shares, or 28% interest in PKL Co., Ltd. in Korea (Kosdaq:PKL). As a result of this transaction, the Company now owns 78.8% of PKL.

Photronics announces a continued expansion in its ability to locally supply phase shift and optical proximity correction photomask technologies to an increasing number of customers in Europe from its advanced manufacturing facility in the United Kingdom.

The Company finalizes a new $100 million multi-currency, worldwide credit facility.

The Company streamlines its operating cost structure through a reduction in its North American work force and by ceasing the manufacture of photomasks at its Milpitas, California facility.

Photronics Repurchases $33.2 Million of 6% convertible subordinated notes due 2004 at a discounted total of $30.8 Million.

Photronics is named one of "Connecticut's Fastest Growing Technology Companies" in Deloitte & Touche "Fast 50" program.

Photronics is awarded best paper at BACUS Symposium. Paper titled "Application of Chromeless Phase Lithography (CPL) masks in ArF lithography" written by members of Photronics, Motorola and ASML Mask Tools.

2003- Photronics appoints PJ Shurick Vice President, Human Resources. PJ is the first woman to join executive team.
Photronics appoints Joseph Roche Vice President, Supply Chain Management and promotes John Smith to Senior Vice President, Europe.

Photronics focused on returning to profitability by July 2003 site closure in Phoenix, Arizona. The Company streamlines North American operating network global work force by 10% to 12%.

Photronics completes the private placement of $150 Million Convertible Subordinated Notes due 2008.

John Chin named Vice President, Asia

Photronics reports third quarter results; revenues and earnings exceed Company's guidance and marks a return to profitability.