Photon Dynamics Inc.

Photon Dynamics Inc. is listed on NASDAQ (PHTN). Photon Dynamics, Inc. (Photon Dynamics) is a California corporation incorporated on May 12, 1986. We are a leading global provider of yield management solutions to the flat panel display industry. Our portfolio of products, services and expertise is designed to deliver the yield-management solutions our customers need to effectively address their most pressing thin-film transistor liquid-crystal display manufacturing challenges. Our unique portfolio of test, repair and inspection systems drive process control improvements throughout the manufacturing process - from early identification and characterization of defects, to back-end cell and module inspection. Manufacturers in the flat panel display industry use our solutions to collect data, analyze product quality and identify and repair product defects at critical steps in their manufacturing processes.

Photronics Inc.

Photronics Inc. is listed on NASDAQ (PLAB). Photronics, Inc. is one of the worlds leading manufacturers of photomasks, which are high precision photographic quartz plates containing microscopic images of electronic circuits. Photomasks are a key element in the manufacture of semiconductors and flat panel displays (FPD), and are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits (IC) and a variety of FPDs and, to a lesser extent, other types of electrical and optical components. The Company operates principally from nine manufacturing facilities, three of which are located in the United States, three in Europe, and one each in Korea, Singapore and Taiwan. The Company is also constructing two manufacturing facilities which are scheduled to be completed in 2006; a FPD facility in Taichung, Taiwan, and an IC facility in Shanghai, China. Photronics, Inc. is a Connecticut corporation, organized in 1969.

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