Electroglas Names Dan Fields Vice President of Asia-Pacific Operations, Opens New Office in Kaohsiung, Taiwan.

Business Editors and High Tech Writers

SAN JOSE, Calif.--(BUSINESS WIRE)--Sept. 17, 2001

Company reaffirms commitment to Asia-Pacific with addition of key

personnel and expands presence in the region's rapidly growing

semiconductor capital equipment market

Electroglas, Inc. (Nasdaq: EGLS), a leading supplier of process management tools for the semiconductor industry, has named Dan Fields to the position of vice president of Asia-Pacific operations, and announces the opening of a new field office in Kaohsiung, Taiwan and expanded quarters in Hsinchu, Taiwan. Fields has been serving as vice president of Electroglas' North American customer operations organization since January 1999. In his new role, Fields will manage the distribution channel for all company product lines in China, Taiwan, Singapore, Malaysia, Indonesia, Thailand and the Philippines.

"Dan's vast experience in Asia, coupled with his significant track record for visionary and responsive leadership make him the right choice to direct Electroglas' efforts to meet increasing customer demand in the Asia-Pacific region," said Conor O'Mahony, vice president of global customer operations at Electroglas. "His transfer to Asia-Pacific acknowledges the importance of customers in this area to Electroglas, and follows the industry trend that increasingly finds wafer test and production moving to Asian foundries and test houses."

The Asia Pacific region is currently the largest market for semiconductor capital equipment. According to Converge, Inc., the region has had the highest compound average growth rate over the past five years and will continue to experience the fastest growth through 2005. The new facility in Kaohsiung, Taiwan, will allow Electroglas to better support their customers in the southern region of Taiwan, an area of growing importance to the Taiwanese semiconductor industry.

"Electroglas' research and development expenditures over the past few years are resulting in technology that is particularly significant to the Asia-Pacific region," said Fields. "New products like our 4090f, EG4|200e and EG5|300e have gotten a strong reception in the region. In addition, as more semiconductor manufacturers outsource their fabrication and test operations to foundries and subcontractors in the area demand for our products in the Asia-Pacific region has grown. I look forward to helping Electroglas meet the needs of our customers in this region."

Prior to joining Electroglas in 1995, Fields spent more than nine years at Ultracision, Inc., most recently as executive vice president. He began his career at Siltec Corporation where he served in a variety of marketing roles. Fields holds a bachelor's of science degree in business administration from the University of Maryland and a master's of science degree in strategic marketing from the National University of Ireland.

For more information on Electroglas, call [phone] or visit www.electroglas.com.

About Electroglas, Inc.

Electroglas delivers essential tools for process management to enhance the profitability of semiconductor manufacturers. The company's wafer probers, inspection systems and software solutions serve as data collection, management and analysis tools that semiconductor manufacturers depend upon to improve their productivity and process control by optimizing sort-floor efficiency. Electroglas has been a leading supplier of wafer probers for over 40 years and has an installed base of more than 15,000 systems. The company's stock trades on the Nasdaq National Market under the symbol "EGLS". The company's World Wide Web site is located at www.electroglas.com.

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