<SEC-DOCUMENT>0001206774-13-004178.txt : 20131125
<SEC-HEADER>0001206774-13-004178.hdr.sgml : 20131125
<ACCEPTANCE-DATETIME>20131122193843
ACCESSION NUMBER:		0001206774-13-004178
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20131120
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20131125
DATE AS OF CHANGE:		20131122

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHOTRONICS INC
		CENTRAL INDEX KEY:			0000810136
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				060854886
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15451
		FILM NUMBER:		131239397

	BUSINESS ADDRESS:	
		STREET 1:		15 SECOR ROAD
		STREET 2:		PO BOX 5226
		CITY:			BROOKFIELD
		STATE:			CT
		ZIP:			06804
		BUSINESS PHONE:		2037759000

	MAIL ADDRESS:	
		STREET 1:		15 SECOR ROAD
		STREET 2:		P O BOX 5226
		CITY:			BROOKFIELD
		STATE:			CT
		ZIP:			06804

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHOTRONIC LABS INC
		DATE OF NAME CHANGE:	19900514
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>photronics_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>

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<DIV align=center><B><FONT face="Times New Roman" size=4>UNITED
STATES<BR></FONT></B><B><FONT face="Times New Roman" size=4>SECURITIES AND EXCHANGE
COMMISSION<BR></FONT></B><B><FONT face="Times New Roman">Washington, D.C. 20549
</FONT></B></DIV>
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<P></P>
<P align=center><B><FONT face="Times New Roman" size=5>FORM 8-K </FONT></B><FONT face="Times New Roman"></FONT></P>
<P align=center><B><FONT face="Times New Roman">CURRENT REPORT <BR></FONT></B><B><FONT face="Times New Roman">Pursuant To Section 13 or 15(d) Of The Securities Exchange Act Of
1934 </FONT></B><FONT face="Times New Roman"></FONT></P>
<DIV align=center>
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    <TD noWrap align=left width="83%"><FONT face="Times New Roman" size=2>Date of report
      (Date of earliest event reported)</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=right width="15%"><B><FONT face="Times New Roman" size=2>November 20,
      2013</FONT></B></TD></TR></TABLE></DIV><BR>
<DIV align=center>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="98%"><B><FONT face="Times New Roman">PHOTRONICS, INC.</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="98%"><FONT face="Times New Roman" size=2>(Exact name of
      registrant as specified in its charter)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;</TD></TR></TABLE></DIV><BR>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="32%"><B><FONT face="Times New Roman" size=2>Connecticut</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="33%"><B><FONT face="Times New Roman" size=2>000-15451</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="33%"><B><FONT face="Times New Roman" size=2>06-0854886</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="32%"><FONT face="Times New Roman" size=2>(State or
      other jurisdiction</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;</TD>
    <TD noWrap style="text-align: center" width="33%"><FONT face="Times New Roman" size=2>(Commission</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;</TD>
    <TD noWrap style="text-align: center" width="33%"><FONT face="Times New Roman" size=2>(IRS
      Employer</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="32%"><FONT face="Times New Roman" size=2>of
      incorporation)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="33%"><FONT face="Times New Roman" size=2>File
      Number)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="33%"><FONT face="Times New Roman" size=2>Identification
      Number)</FONT>&nbsp; </TD></TR></TABLE><BR>
<DIV align=center>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="74%"><B><FONT face="Times New Roman" size=2>15 Secor Road, Brookfield,
      CT</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="25%"><B><FONT face="Times New Roman" size=2>06804</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="74%"><FONT face="Times New Roman" size=2>(Address of
      Principal Executive Offices)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;</TD>
    <TD noWrap style="text-align: center" width="25%"><FONT face="Times New Roman" size=2>(Zip
      Code)</FONT></TD></TR></TABLE></DIV><BR>
<DIV align=center>
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  <TR vAlign=bottom>
    <TD noWrap align=left width="73%"><FONT face="Times New Roman" size=2>Registrant&#146;s
      Telephone Number, including area code</FONT></TD>
    <TD noWrap align=right width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=right width="25%"><B><FONT face="Times New Roman" size=2>(203)
      775-9000</FONT></B></TD></TR></TABLE></DIV><BR>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="100%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>(Former name
      or former address, if changed since last report)</FONT></TD></TR>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="100%">&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT face="Times New Roman" size=2>Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:</FONT></P>
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  <TR>
    <TD vAlign=top width="1%"><FONT face=Wingdings>&#168;</FONT></TD>
    <TD vAlign=top noWrap width="1%">&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top width="97%">
      <P><FONT face="Times New Roman" size=2>Written communications pursuant to Rule 425
      under the Securities Act (17 CFR 230.425)</FONT> </P></TD></TR>
  <TR>
    <TD vAlign=top width="1%"><FONT face=Wingdings>&#168;</FONT></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD vAlign=top width="97%">Soliciting material pursuant to Rule 14a-12
      under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
  <TR>
    <TD vAlign=top width="1%"><FONT face=Wingdings>&#168;</FONT></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD vAlign=top width="97%">
      <P><FONT face="Times New Roman" size=2>Pre-commencement communications pursuant to
      Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="1%"><FONT face=Wingdings>&#168;</FONT></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD vAlign=top width="97%">
      <P><FONT face="Times New Roman" size=2>Pre-commencement communications pursuant to
      Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c))</FONT></P></TD></TR></TABLE><BR>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=justify><B><FONT face="Times New Roman" size=2>Item 1.01 Entry into a Material
Definitive Agreement. </FONT></B></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2><FONT face="Times New Roman" size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>On November 20, 2013, Photronics, Inc.
(the &#147;Company&#148;) entered an agreement (the &#147;Framework Agreement&#148;) with Dai Nippon
Printing Co., Ltd. (&#147;DNP&#148;) to establish the terms and conditions under which
Photronics Semiconductor Mask Corporation (&#147;PSMC&#148;), a majority owned subsidiary
of the Company, will merge with DNP Photomask Technology Taiwan Co., Ltd.
(&#147;DPTT&#148;), a wholly owned subsidiary of DNP, to form a joint venture focused on
serving semiconductor manufacturers in Taiwan. </FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2><FONT face="Times New Roman" size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Framework Agreement binds each of
the parties to use reasonable efforts, acting in good faith, to carry out the
actions necessary to consummate the transactions thereby. The Framework
Agreement also establishes the proposed timetable for the transaction and the
form and substance of the agreements that will be entered into among the parties
to effect the joint venture, including, without limitation, a merger agreement,
a joint venture operating agreement, an outsourcing agreement and license
agreements (collectively, the &#147;Transaction Agreements&#148;). Each of the Transaction
Agreements have an effective date as of the closing of the business combination.
</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2><FONT face="Times New Roman" size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Under the Framework Agreement, each of
parties agree to conduct the business in substantially the same manner as
conducted prior to the date of the Framework Agreement, and undertake not to
transfer any of their shares in the relevant entities, except as contemplated by
the Transaction Agreements. The Framework Agreement may be terminated upon the
earliest to occur of: the written consent of the parties; material breach of the
Framework Agreement or any Transaction Agreement, subject to a 30 day cure
period; failure to close the transaction by September 30, 2014; failure to
receive regulatory approval; or termination of the merger agreement.
</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2><FONT face="Times New Roman" size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company and DNP will own 50.01% and
49.99% of the joint venture, respectively, and its financial statements will be
included in the consolidated financial statements of the Company.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2><FONT face="Times New Roman" size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>A copy of the Company&#146;s press release
announcing the transaction is attached to this report as Exhibit 99.1, and is
incorporated herein by reference. </FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Item 9.01. Financial Statements and
Exhibits. </FONT></B></P>
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  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>(d)</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="97%" colSpan=2><FONT face="Times New Roman" size=2>Exhibits.</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="96%">&nbsp;</TD></TR>
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    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=left width="96%"><FONT size=2 face="Times New Roman">Press Release dated November 20,
2013.</FONT></TD></TR></TABLE><BR>
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<P align=center><B><FONT face="Times New Roman" size=2>SIGNATURES </FONT></B><FONT face="Times New Roman"></FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Pursuant to the requirements of the
Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="100%"><B><FONT face="Times New Roman">PHOTRONICS, INC.</FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>(Registrant)</FONT></TD></TR></TABLE></DIV><BR>
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    <TD noWrap align=left width="1%"><B><FONT face="Times New Roman" size=2>DATE&nbsp;&nbsp; </FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="13%"><B><FONT face="Times New Roman" size=2>November 22, 2013</FONT></B></TD>
    <TD noWrap align=left width="35%"></TD>
    <TD noWrap align=left width="1%"><B><FONT face="Times New Roman" size=2>BY&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><FONT face="Times New Roman" size=2>/s/ Richelle E. Burr</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="13%"></TD>
    <TD noWrap align=left width="35%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Richelle E.
      Burr</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="13%"></TD>
    <TD noWrap align=left width="35%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Vice President,
      General Counsel</FONT>&nbsp; </TD></TR></TABLE><BR>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="100%"><FONT face="Times New Roman" size=2>INDEX TO
EXHIBITS</FONT></TD></TR></TABLE><BR>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="3%"><FONT face="Times New Roman" size=2>Exhibit</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp; &nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="95%"><FONT face="Times New Roman" size=2>Description</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>99.1</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Press Release dated November 20,
2013.</FONT></TD></TR></TABLE><BR>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>PRESS RELEASE DATED NOVEMBER 20, 2013
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    <TD noWrap align=left width="41%"><IMG src="exhibit99-1x1x1.jpg" border=0></TD>
    <TD style="PADDING-BOTTOM: 2pt; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: right" noWrap width="58%" rowSpan=2>
      <P><B><FONT face="Times New Roman" size=2>F</FONT></B><B><FONT face="Times New Roman" size=1>OR </FONT></B><B><FONT face="Times New Roman" size=2>F</FONT></B><B><FONT face="Times New Roman" size=1>URTHER </FONT></B><B><FONT face="Times New Roman" size=2>I</FONT></B><B><FONT face="Times New Roman" size=1>NFORMATION</FONT></B><B><FONT face="Times New Roman" size=2>:<BR></FONT></B><FONT face="Times New Roman" size=2>Pete
      Broadbent<BR>Vice President, Investor Relations<BR>&amp;
      Marketing<BR>(203) 775-9000<BR></FONT><FONT face="Times New Roman" size=2>pbroadbent@photronics.com</FONT><FONT face="Times New Roman" size=2> </FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="41%"><I><FONT face="Times New Roman" size=5><B>Press
    Release</B></FONT></I></TD></TR></TABLE>
<P align=center><B><FONT face="Times New Roman" size=5>PHOTRONICS ANNOUNCES JOINT VENTURE IN
TAIWAN<BR></FONT></B><B><FONT face="Times New Roman" size=5>WITH DAI NIPPON
PRINTING</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=4>Creates Largest Domestic Merchant
Supplier of Leading-Edge Photomasks in Taiwan </FONT></B></P>
<P align=center><FONT face="Times New Roman" size=4>&#147;Photronics DNP Mask Corporation&#148;
Combines DNP&#146;s Logic Photomask Technology and PSMC&#146;s Memory Photomask Technology
and Operating Scale</FONT></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman" size=2>BROOKFIELD, Connecticut November 20, 2013
&#151; Photronics, Inc. (NASDAQ:PLAB), a worldwide leader in supplying innovative imaging
technology solutions for the global electronics industry, today announced an
agreement with Dai Nippon Printing Co., Ltd. (DNP) (7912:Tokyo Stock Exchange)
to merge Photronics Semiconductor Mask Corporation (PSMC), a majority owned
subsidiary of Photronics, with DNP Photomask Technology Taiwan Co., Ltd. (DPTT),
a wholly owned subsidiary of DNP, to form a joint venture focused on serving
semiconductor manufacturers in Taiwan. Photronics and DNP will own 50.01% and
49.99% of the joint venture, respectively, and its financial statements will be
included in the consolidated financial statements of Photronics, Inc. The joint
venture is subject to regulatory approvals and customary closing conditions and
the non-cash transaction is expected to be finalized during the first half of
Photronics&#146; Fiscal Year 2014.</FONT></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The joint venture will leverage
DNP&#146;s leading technology processes in logic photomasks and PSMC&#146;s advanced
technology processes in memory photomask manufacturing and operating scale. It
will operate under the name Photronics DNP Mask Corporation (PDMC) and current
PSMC President, Dr. Frank Lee, is expected to be named General Manager of the
joint venture. </FONT></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Constantine (&#147;Deno&#148;) Macricostas,
Photronics' chairman and chief executive officer commented, &#147;This combination of
strengths in logic and memory photomask technology, leveraged by our highly
efficient operating model and investment strategy, will provide a superior
long-term capability for our customers in the region. In fact, this combination
of resources and capability creates the largest domestic supplier of leading
edge photomasks in Taiwan with the scale to address 14 nm and beyond
technology.&#148; </FONT></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Peter Kirlin, Photronics&#146; President
remarked, &#147;We are excited to partner with DNP in bringing high-end technology
and equipment with scale and efficiency to Taiwan. This is a milestone
achievement for Photronics given that Taiwan is a major hub of semiconductor
manufacturing and an integral part of our worldwide growth strategy.&#148;
</FONT></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Koichi Takanami, Executive Vice
President, Dai Nippon Printing Co., Ltd. stated, &#147;Both DNP and Photronics are
global top players in the outsourcing market of photomasks, key devices for
manufacturing semiconductors. Considering the strategic importance of the
Taiwanese market for both companies, we have made a decision to work in
partnership with Photronics, the most suitable partner for the synergy creation
by combining the complementary strength of both companies, and will enhance our
competitive advantages and deliver high-quality products and services to our
customers."</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>1</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P STYLE="text-align: justify"><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>A conference call with investors and
the media to discuss the joint venture is scheduled for 8:30 a.m. Eastern time
on Wednesday, November 20, 2013. The call can be accessed by logging onto
Photronics' web site at www.photronics.com. The live dial-in number is
408-774-4601.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2># # #</FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>About Photronics </FONT></B></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Photronics is a leading worldwide
manufacturer of photomasks. Photomasks are high precision quartz plates that
contain microscopic images of electronic circuits. A key element in the
manufacture of semiconductors and flat panel displays, photomasks are used to
transfer circuit patterns onto semiconductor wafers and flat panel substrates
during the fabrication of integrated circuits, a variety of flat panel displays
and, to a lesser extent, other types of electrical and optical components. They
are produced in accordance with product designs provided by customers at
strategically located manufacturing
facilities in Asia, Europe, and North
America. Additional information on the Company can be accessed at www.photronics.com.</FONT></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman" size=2>The Private Securities Litigation Reform
Act of 1995 provides a &#147;safe harbor&#148; for forward-looking statements made by or
on behalf of Photronics, Inc. and its subsidiaries (the Company). The
forward-looking statements contained in this press release and other parts of
Photronics&#146; web site involve risks and uncertainties that may affect the
Company&#146;s operations, markets, products, services, prices, and other factors.
These risks and uncertainties include, but are not limited to, economic,
competitive, legal, governmental, and technological factors as well as decisions
we may make in the future regarding our business, capital structure and other
matters. Accordingly, there is no assurance that the Company&#146;s expectations will
be realized. For a fuller discussion of the factors that may affect the
Company's operations, see "Forward Looking Statements" in the Company's
Quarterly and Annual Reports to the Securities and Exchange Commission on Forms
10-Q and 10-K. The Company assumes no obligation to provide revisions to any
forward-looking statements.</FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>About Dai Nippon Printing
</FONT></B></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman" size=2>DNP [Dai Nippon Printing Co.,
Ltd.] is a world-class comprehensive printing
company with 1.446 trillion yen in annual revenues and approximately 40,000
employees. Based in Tokyo, Japan, DNP offers a broad range of products and
services for publishing, commercial printing, smart cards, networking, and
electronics components, among others. Its products in the electronics field
include color filters and other components for LCDs, photomasks, and
semiconductor-related components. In the photomask market DNP is a world leader,
utilizing its time-honored printing techniques and know-how in the fabrication
of cutting- edge photomasks. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Source PLAB-G </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>16-2013 </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>2</FONT></P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
