Nova Continues Transition to Direct Sales Model With Two Additional Memory Manufacturers

REHOVOT, Israel, March 11, 2010 /PRNewswire-FirstCall/ -- Nova Measuring Instruments Ltd. (NASDAQ: NVMI) provider of leading edge stand-alone metrology and the market leader of integrated metrology solutions to the semiconductor process control market, today announced that it will directly supply several NovaScan Integrated Metrology (IM) units to two leading memory manufacturers. The move to a direct sales model signifies the deepening strategic relationships with the Company's OEM partners as well as end customers' reliance on Nova as a key metrology supplier.

"During the last two quarters we have seen a high demand for our metrology solutions from top tier memory customers as they migrate to advanced technology nodes and ramp up capacity," said Avi Magid, Executive VP at Nova. "We are proud that two of the world's leading memory manufacturers have come to rely on our ability to seamlessly integrate our tools with process equipment at their facility, relying on our strong local support capabilities during a steep ramp up period. We believe that in the long run, the continuation of this transition will allow our customers to realize the full potential of our technology."

About Nova: Nova Measuring Instruments Ltd. develops, produces and markets advanced integrated and stand alone metrology solutions for the semiconductor manufacturing industry. Nova is traded on the NASDAQ & TASE under the symbol NVMI. The Company's website is http://www.nova.co.il.

This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding trends, demand for our products, expected deliveries, transaction, expected revenues, operating results, earnings and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward looking statements. These risks and other factors include but are not limited to: unanticipated consequences of the global economic crisis, our dependency on a single integrated process control product line; the highly cyclical nature of the markets we target; our inability to reduce spending during a slowdown in the semiconductor industry; our ability to respond effectively on a timely basis to rapid technological changes; risks associated with our dependence on a single manufacturing facility; our ability to expand our manufacturing capacity or marketing efforts to support our future growth; our dependency on a small number of large customers and small number of suppliers; risks related to our intellectual property; changes in customer demands for our products; new product offerings from our competitors; changes in or an inability to execute our business strategy; unanticipated manufacturing or supply problems; changes in tax requirements; changes in customer demand for our products; risks related to currency fluctuations; and risks related to our operations in Israel. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading "Risk Factors" in Nova's Annual Report on Form 20-F for the year ended December 31, 2008 filed with the Securities and Exchange Commission on March 30, 2009. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. Nova Measuring Instruments Ltd. does not assume any obligation to update the forward-looking information contained in this press release.

    Company Contact:
    Dror David, Chief Financial Officer
    Nova Measuring Instruments Ltd.
    Tel: 972-8-938-7505
    E-mail: [email protected]
    URL: http://www.nova.co.il

    Investor Relations Contacts:
    Ehud Helft / Kenny Green
    CCG Investor Relations Israel
    Tel: +1-646-201-9246
    [email protected]

SOURCE Nova Measuring Instruments Ltd

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