Chunghwa Picture Tubes, Ltd. selects Orbotech AOI

ORBOTECH LTD. (NASDAQ/NM SYMBOL: ORBK) announced the receipt of a major order from CHUNGHWA PICTURE TUBES, LTD. (CPT) (TAIEX: 2475), totaling $19 million in value, for multiple automated optical inspection (AOI) systems for use in the production of LCD-TV displays at the manufacturer's new sixth generation fab currently under construction in Long Tan, Taiwan R.O.C. Initial deliveries are expected to commence towards the end of 2004.

Commenting on the order, Mr. C.H. Lin, President of CPT, said: "We have determined that Orbotech AOI systems will provide the best performance for successful ramp-up and full production of our new Gen 6 products for LCD-TVs.

Mr. Nobuhiro Higashiiriki, President of Orbotech's Display Asia Pacific Division, commented: "We are very pleased to have been awarded this important order from CPT after its thorough evaluation of currently available inspection solutions. We look forward to working closely with CPT and, in its spirit of 'Creation, Perfection, Teamwork', to assisting it in achieving successful mass production of its Gen 6 displays."

Mr. Assaf Eyal, Co-President of the Display Division at Orbotech Ltd. added: "This is the second 6G fab in Taiwan to have selected Orbotech, over its competitors, as the AOI vendor of choice, making us the leading in-line and off-line provider to the Taiwanese industry for latest generation production. This substantial order from CPT is indicative of the significantly increased AOI equipment investment levels that we are witnessing recently, as manufacturers look to open new fabs during 2004 and 2005."

Incorporated in 1971, CPT is headquartered in Taipei, Taiwan R.O.C. with multiple production facilities located throughout Taiwan, China and Malaysia. The company's main products include: TFT-LCD, CRT, LCD projector and plasma display panels. For more information, visit www.cptt.com.tw.