Ultratech, Inc.
Feb 24, 2004

Olympus Corp. Places Order with Ultratech for NanoTech 160 Lithography System For Japan's First MEMS Foundry

SAN JOSE, Calif., Feb. 24 /PRNewswire-FirstCall/ -- Ultratech, Inc. (Nasdaq: UTEK), a leading supplier of photolithography systems used to manufacture semiconductors and nanotechnology devices, today announced that it has received an order from Olympus Corp. (JP: 7733) of Tokyo, Japan, for its NanoTech 160 lithography stepper. Olympus, a leading worldwide manufacturer of optical-digital product solutions for healthcare and consumer industries, will utilize Ultratech's tool for microelectromechanical systems (MEMS) applications in its MEMS foundry in Tokyo -- the first MEMS foundry in Japan.

Ryo Ota, Olympus laboratory manager, corporate R&D center, commented, "As the first MEMS foundry in Japan, we want to equip our fab with today's most flexible, reliable and advanced technology to facilitate our customers' most critical requirements. We chose Ultratech's NanoTech 160 stepper as our primary lithography tool because it provides back- to front-alignment capabilities as well as the flexibility to process multiple wafer sizes. We are very excited about this new relationship, and are confident that Ultratech's industry experience, advanced technology expertise and outstanding customer service will support our MEMS manufacturing goals."

Joe Iwasaki, Ultratech president, Asia-Pacific, noted, "The Olympus order validates the success of our strategy to develop application-specific production tools to meet customers' unique needs in the MEMS/microsystems arena. The NanoTech 160's projection lithography technology was specifically designed to handle a wide range of substrates and materials and deliver superior dual-side alignment capabilities in thick-resist, high-topography conditions. The tool is designed to produce diverse precision products ranging from sensors to sophisticated optical devices."

The NanoTech 160, which offers excellent process flexibility, a large depth of focus, customized substrate handling, and custom hardware and software for thick resist processing, was designed to meet the needs of the growing MEMS/microsystems market. It also features Ultratech's proprietary Machine Vision System (MVS), which offers a highly flexible alignment capability. All of these features are supported by the company's worldwide service and support network.

Certain of the statements contained herein may be considered forward- looking statements under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties, such as integration and development of the laser processing operation, the cyclicality in the semiconductor and nanotechnology industries, delays, deferrals and cancellations of orders by customers, pricing pressures, competition, lengthy sales cycles for the company's systems, ability to volume produce systems and meet customer requirements, the mix of products sold, dependence on new product introductions and commercial success of any new products, sole or limited sources of supply, international sales, customer concentration, manufacturing inefficiencies and absorption levels, risks associated with introducing new technologies, inventory obsolescence, economic and political conditions in Asia, delays in collecting accounts receivable, extended payment terms, changes in technologies, any adverse effects of terrorist attacks or military actions in the United States or elsewhere on the economy in general or our business in particular. Such risks and uncertainties are described in the company's SEC reports including the company's Annual Report on Form 10-K filed for the year ended December 31, 2002 and its Quarterly Report on Form 10-Q filed for the quarter ended September 27, 2003.

About Olympus Corporation: Olympus Corporation, with its wholly owned subsidiaries, is a global leader in designing, manufacturing and sales of equipment and devices for medical and healthcare, imaging and information and industrial applications. The company leverages R&D investment in technology and manufacturing processes across diverse business lines that include: film cameras, digital cameras, IC recorders, binoculars, medical fiberscopes, endotherapy instruments, ultrasound endoscopes and accessories, biological microscopes, clinical analyzers, genome analysis system, information processing equipment, industrial fiberscopes, industrial microscopes. For more information, visit http://www.olympus.com

Olympus Partnership Development Group (PDG): San Jose, CA, was formed in October 2001 and is part of the R&D division of Olympus Corporation, Tokyo, Japan. It was established to accelerate the success of partner companies through technology and business alliances. PDG provides access to Olympus resources in R&D, engineering, precision manufacturing from prototyping to ramp-up, sales, marketing, distribution, and financial investment including Olympus of MEMS foundry and MEMS chip products. For more information, visit www.olympuspartnership.com

About Ultratech: Founded in 1979, Ultratech, Inc. designs, manufactures and markets photolithography equipment used worldwide in the fabrication of semiconductor and nanotechnology devices. The company produces products designed to substantially reduce the cost of ownership for manufacturers in the electronics industry. Ultratech is a market leader in gold and solder bump lithography. The company's home page on the World Wide Web is located at www.ultratech.com

SOURCE  Ultratech, Inc.
    -0-                             02/24/2004
    /NOTE TO EDITORS:  Olympus Optical Co., Ltd. announced that on October 1,
2003, the corporate name of its Tokyo headquarters became Olympus Corp./
    /CONTACT:  Bruce R. Wright, Senior Vice President & CFO, or Laura
Rebouche, Vice President, Investor Relations and Corporate Communications,
lrebouche@ultratech.com, both of Ultratech, Inc., +1-408-321-8835, or fax,
+1-408-577-3379; or Angie Kellen, Account Manager of MCA, +1-650-968-8900, or
fax, +1-650-968-8990, or akellen@mcapr.com, for Ultratech, Inc./
    /Web site:  http://www.olympus.com /
    /Web site:  http://www.olympuspartnership.com /
    /Web site:  http://www.ultratech.com /

CO: Ultratech, Inc.; Olympus Corp. ST: California, Japan IN: CPR HRD SEM ECP SU: CON

ND-JO -- SFTU142 -- 6659 02/24/2004 16:15 EST http://www.prnewswire.com