Amtech Systems Inc. Releases President's Report to Shareholders.

Business Editors

TEMPE, Ariz.--(BUSINESS WIRE)--Feb. 19, 2002

Amtech Systems Inc. (Nasdaq:ASYS) released its president's report to shareholders:

To Our Shareholders:

While the semiconductor industry declined for the fourth consecutive quarter, your Company achieved record revenue for the second consecutive year. On a pro forma basis, your Company also produced record earnings. The revenue of $22.9 million and earnings of $1.2 million for fiscal 2001 are a continuation of the Company's conservative but rapid growth. The accompanying ten-year table of revenue provides strong evidence of the success of our growth strategy, as it shows the remarkable achievement of a 28% compounded annual average rate of growth in fiscal 1993 through fiscal 2001.

FISCAL 2001 HIGHLIGHTS

During fiscal 2001, we...

-- Ship systems to the photovoltaic industry and continue to develop this and
other emerging markets.

-- Develop and ship our first 300mm horizontal diffusion furnace with the S-300
automation.

-- Complete development of cassette-to-cassette functionality for the S-300, in
order to further expand the market for our automation products.

-- Make a determination whether to develop a prototype 300mm UV asher based
upon the Company's technology.

-- Acquire at least one company or product line, among the ones currently under
evaluation.

OUR GROWTH STRATEGY

Our growth strategy is to...

-- Ship systems to the photovoltaic industry and continue to develop this and
other emerging markets.

-- Develop and ship our first 300mm horizontal diffusion furnace with the S-300
automation.

-- Complete development of cassette-to-cassette functionality for the S-300, in
order to further expand the market for our automation products.

-- Make a determination whether to develop a prototype 300mm UV asher based
upon the Company's technology.

-- Acquire at least one company or product line, among the ones currently under
evaluation.

PLANS FOR FISCAL 2002

During fiscal 2002, we are going to...

-- Ship systems to the photovoltaic industry and continue to develop this and
other emerging markets.

-- Develop and ship our first 300mm horizontal diffusion furnace with the S-300
automation.

-- Complete development of cassette-to-cassette functionality for the S-300, in
order to further expand the market for our automation products.

-- Make a determination whether to develop a prototype 300mm UV asher based
upon the Company's technology.

-- Acquire at least one company or product line, among the ones currently under
evaluation.

We do not know with any certainty when the industry will pick-up or whether fiscal 2002 will show continued growth in earnings and revenue. However, if we look beyond the global market we serve to the markets served by our customers, one truth is apparent: the demand for semiconductors continues to grow. Each new generation of products consumes an increasing number of semiconductor chips than the last. This is true for consumer electronics, as well as many other products, including everything from automobiles to televisions. These and thousands of other products are continually being improved, often through the addition of information or communication technologies, leading to an ever-increasing consumption of chips.

We intend to continue serving the companies that supply these chips to the global economy. Because we are the strongest we have ever been, we are positioned to capitalize on this tremendous opportunity.

We wish to thank our employees worldwide for their extraordinary efforts during this past year in driving our continued expansion. Their incredible energy, commitment and expertise provide the competitive edge that is responsible for this year's record revenue and earnings and the foundation for our future success. With support from our customers, our stockholders and our suppliers, we are confident that Amtech Systems can continue its rapid and profitable growth.

Sincerely,

J.S. Whang

President and Chief Executive Officer

Amtech Systems Inc. manufactures capital equipment and related consumables used in the manufacture of various thin-wafer materials, primarily silicon wafers for the semiconductor industry, and in automation and certain thermal process equipment used in fabricating semiconductor devices, optical components of high speed telecom switches and solar cells.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Amtech Systems Inc.) contains statements that are forward-looking.

Such forward-looking information involves a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by management.

Potential risks and uncertainties include, among other factors, industry specific and general business conditions, competitive market conditions, success of Amtech's growth and sales strategies, the possibility of customer changes in delivery schedules, cancellation of orders, potential delays in product shipments, delays in obtaining inventory parts from suppliers, failure to satisfy customer acceptance requirements and the effects of adopting Staff Accounting Bulletin No. 101, "Revenue Recognition in Financial Statements," issued by the Securities and Exchange Commission.

This earnings release should be read in conjunction with the company's Annual Report on Form 10-K for the fiscal year ended Sept. 30, 2001 and its Quarterly Report on Form 10-Q for the quarter ended Dec. 31, 2001.