Nova Announces the Establishment of a Local Branch in South Korea

Local Facility Will Provide Closer Support to Growing Installed Base of Well Over 200 Systems

Mar 21, 2011, 08:12 ET from Nova Measuring Instruments Ltd

REHOVOT, Israel, March 21, 2011 /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, announced today the opening of its new branch office in South Korea. In light of the growing installed base and the strong partnership with its Korean customers, the new entity will provide close sales support, local customers support as well as development of tailored application solutions. The Company will continue its long standing and successful collaboration with Misan Corporation which played a key role in establishing and growing Nova's business in South Korea in the past decade.

"With this new facility we are elevating our presence in South Korea and announcing our strong commitment to our local customers", said Eitan Oppenheim, Executive Vice President, Global Business Group. "During the past years we invested heavily in providing our South Korean customers with state of the art metrology solutions tailored for their production needs. I am confident that the close cooperation that led to our current success and the new product portfolio that we introduced lately will continue to drive Nova's growth in this region".

For additional details of the new office please visit http://www.nova.co.il .

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: our dependency on two process control product lines; 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; our dependency on OEM suppliers; 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, 2009 filed with the Securities and Exchange Commission on March 26, 2010. 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: info@nova.co.il
    http://www.nova.co.il

    Investor Relations Contacts:
    Ehud Helft / Kenny Green
    CCG Investor Relations
    Tel: +1-646-201-9246
    E-mail: nova@ccgisrael.com

SOURCE Nova Measuring Instruments Ltd