Photronics Nominates Mitchell G. Tyson to
Board of Directors

BROOKFIELD, Connecticut    March 9, 2004 -- Photronics, Inc. (Nasdaq:PLAB), the world's leading sub-wavelength reticle solutions supplier, today announced that Mitchell G. Tyson was nominated to serve on the Company’s Board of Directors.  Mr. Tyson, who was the Chief Executive Officer of PRI Automation until 2002 and is currently serving as the Chairman of the Board of AmberWave Systems, will have his nomination voted on at Photronics’ Annual Shareholder Meeting.  The meeting will take place at the Hotel InterContinental in New York and is scheduled for Wednesday, March 24, 2004.

 Constantine “Deno” Macricostas, Chairman and Chief Executive Officer of Photronics stated, “Mitch brings excellent credentials to Photronics.  He is a distinguished leader within the semiconductor industry and a proven executive with a deep understanding of the investment community and the needs of the semiconductor industry as they implement advanced technologies.”  Mr. Tyson commented, “This is truly an exciting time to join the Photronics organization.  Photronics has a tremendous global presence, highly efficient and profitable manufacturing network, and is continually strengthening its materials and process technology.  Increasingly, the semiconductor industry is critically dependent upon advancements in lithography plane integration so that they can effectively fabricate high performance integrated circuits.  Photronics, with its presence and vision, is playing a key role in supplying the advanced reticle technology and services that enable device designers and wafer fabs realize the full potential of these advancements.”

Between 1987 and 2002 Mr. Tyson held positions of increasing management responsibility at PRI Automation and served as the company’s CEO between 1998 and 2002.  Under his leadership PRI grew  from a  small robot manufacturer  to become the world’s leading supplier of automation hardware, software, and services to the semiconductor industry until Brooks Automation acquired it in 2002.  Mr. Tyson joined the Board of AmberWave Systems in 2002 and served as interim CEO until being named Chairman of the Board in September of 2003. Mr. Tyson repositioned the company with a new commercialization strategy for its strained silicon technology, which reduces the power and improves the speed of advanced semiconductor chips.   Prior to joining PRI, Mr. Tyson was the Director of Product Management at GCA Corporation and Science Advisor to Senator Paul Tsongas in Washington DC.  He holds a BS in Physics, an MS in Nuclear Engineering, and a MS in Political Science from MIT.  In addition to his corporate positions, Mr. Tyson currently serves or has served on a number of business, industry, and community-based boards, including Semiconductor Equipment and Materials International (SEMI) North American Advisory Board and the Mass High Technology Council.

 Photronics will convene its regular Annual Shareholder’s Meeting on Wednesday, March 24, 2004 at 12:00 p.m. EST to address the agenda items as outlined in a proxy statement filed on February 27, 2004.

For more information or to register for the meeting, contact Michael McCarthy, Vice President-Investor Relations and Corporate Communications via email at mmccarthy@brk.photronics.com or visit the Company’s website at www.photronics.com

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, photomasks are used to transfer circuit patterns onto semiconductor wafers during the fabrication of integrated circuits. They are produced in accordance with circuit 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.

““Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Certain statements in this release are considered "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve risks and uncertainties. In particular, any statement contained in this release regarding the consummation and benefits of future acquisitions, expectations with respect to future sales, financial performance, operating efficiencies and product expansion, are subject to known and unknown risks, uncertainties and contingencies, many of which are beyond the control of the Company. These factors may cause actual results, performance or achievements to differ materially from anticipated results, performances or achievements. Factors that might affect such forward looking statements include, but are not limited to, overall economic and business conditions; the demand and receipt of orders for the Company's products; competitive factors in the industries and geographic markets in which the Company competes; changes in federal, state and foreign tax requirements (including tax rate changes, new tax laws and revised tax law interpretations); the Company'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 political conditions in international markets; the ability to obtain a new bank facility or other financings; the ability to achieve anticipated synergies and other cost savings in connection with acquisitions and productivity programs; the timing, impact and other uncertainties of future acquisitions and investments; the seasonal and cyclical nature of the semiconductor industry; the availability of capital; management changes; damage or destruction to our facilities by natural disasters, labor strikes, political unrest or terrorist activity; the ability to fully utilize its tools; the ability of the Company to receive desired yields, pricing, product mix, and market acceptance of its products; changes in technology; and other risks and uncertainties set forth in the Company’s SEC filings from time to time. Any forward-looking statements should be considered in light of these factors. The Company assumes no obligation to update the information in this release.