Toppan completes acquisition of DuPont Photomasks

April 25, 2005 – Toppan Printing Co. Ltd. has announced the successful completion of the acquisition of DuPont Photomasks Inc. Under the terms of the definitive agreement previously announced on Oct. 5, 2004, DuPont Photomasks shareholders will receive US$27 in cash/share. The equity value of the transaction is approximately US$650 million (approximately 68 billion yen) on a diluted basis. The acquisition was approved by shareholders of DuPont Photomasks on March 28, 2005.

Effective immediately, DuPont Photomasks becomes a wholly owned subsidiary of Toppan, named Toppan Photomasks Inc. The company will continue to be incorporated in Delaware and remain headquartered in Round Rock, TX.

Toppan will combine its existing photomask business with that of Toppan Photomasks. Akihiro Nagata, a senior managing director of Toppan and head of Toppan’s Electronics Division, has become chairman of the Toppan Photomasks board of directors. Marshall Turner continues as chief executive officer.


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