Axcelis Completes Acquisition of Tritek's Semiconductor Equipment Business in China; Increases Direct Presence of Sales and Service in Asia Pacific's Fastest Growing Market.

Business/Technology Editors

BEVERLY, Mass.--(BUSINESS WIRE)--Sept. 4, 2002

Axcelis Technologies, Inc. (NASDAQ: ACLS), has completed its acquisition of Tritek International's semiconductor equipment division in China. The deal expands Axcelis' direct presence in China's key chipmaking hubs and sets the stage for the next phase of the company's growth in the country, currently one of fastest growing chip markets worldwide.

Under terms of the acquisition, first announced in July, Tritek's semiconductor equipment division will become part of Axcelis Technologies China, expanding the company's sales, service and applications support operations in Tianjin, Beijing and Shanghai and bringing the total workforce to 40 people. Andrew Lee, managing director of Axcelis Technologies China, will lead operations.

"The timing of this acquisition is not coincidental: China's chipmakers are poised for dramatic growth in the coming years. Now more than ever, they need flawless support from semiconductor technology leaders like Axcelis," Lee said. "Having a direct presence in the region is the best way to provide this support, and Axcelis' acquisition of Tritek clearly brings us closer to our Chinese customers. More importantly, we believe our planned investments in local training and technology support will contribute to the long-term success of our customers."

The Chinese government expects China will capture 16 percent of the worldwide IC market this year, more than doubling its 7 percent market share in 2000. China's chipmakers continue to increase capital spending at a phenomenal rate, with the country's total semiconductor capital expenditures rising to $2.1 billion in 2003, a 145 percent increase from 2001. Market researcher Gartner Dataquest also sees strong growth in the region, and expects semiconductor demand in China to represent a $36.1 billion market in 2005, making it the fastest growing chip market worldwide.

Tritek is one of China's leading semiconductor equipment distribution and support firms. Prior to the acquisition, the two companies maintained a partnership for over 20 years, helping Axcelis achieve its leadership position in the region.

About Axcelis Technologies, Inc.

Axcelis Technologies, Inc., headquartered in Beverly, Massachusetts, provides innovative, high-productivity solutions for the semiconductor industry. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation, rapid thermal processing, and cleaning and curing systems. Axcelis Technologies has key technology centers in Beverly, Massachusetts, and Rockville, Maryland as well as in Toyo, Japan through its joint venture, SEN. The company's Internet address is: www.axcelis.com.

Forward-Looking Statements

This press release includes certain statements, known as "forward-looking statements," which express the current expectations of Axcelis management. Certain risks and uncertainties could cause actual results to differ materially from those currently anticipated as expressed in this press release. Among other factors, such risks and uncertainties include the continuing demand for semiconductor equipment, relative market growth, continuity of business relationships with major customers, competitive pressure on sales and pricing, increases in material and other production costs that cannot be recouped in product pricing and global economic and financial conditions. These risks and other risk factors relating to Axcelis are described more fully in the most recent Form 10-K filed by Axcelis and in other filings from time to time with the Securities and Exchange Commission.