Photronics acquires additional shares of PKL Ltd. in Korea

January 24, 2005 – Photronics Inc., a supplier of imaging technology solutions for the global electronics industry, on Friday reported that it has acquired an additional 6.5% interest in PKL Co. Ltd. in Korea. As a result of this transaction, Photronics now owns approximately 87% of PKL.

Photronics acquired the additional equity in PKL, an independent photomask manufacturer, from existing PKL shareholders in exchange for cash consideration of approximately $18.0 million. Additional financial terms of the transaction were not disclosed.

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