[April 16, 2012]

Photronics Receives Supplier Excellence Award from Analog Devices, Inc.

Photronics, Inc. (NASDAQ:PLAB), a worldwide leader in supplying innovative imaging technology solutions for the global electronics industry, today announced that Analog Devices, Inc. (NASDAQ: ADI) awarded Photronics (News - Alert) with its Supplier Excellence Award in the Special Achievement category for support throughout 2011. This is the third supplier excellence award that Photronics has received from Analog Devices (News - Alert).

The Analog Devices Supplier Excellence awards are based on an exacting supplier rating program and recognizes those companies that differentiate themselves through consistently outstanding performance, continuous improvement, strategic contribution to Analog Devices' technology and market leadership, anticipation and delivery of cost reduction initiatives, and exemplary commitment to manufacturing and quality. Analog Devices is a leading manufacturer of precision high-performance integrated circuits used in analog and digital signal processing applications.

Dr. Peter S. Kirlin, Photronics' senior vice president of the U.S. and Europe, commented, "It is an honor to be recognized once again for our comprehensive work on behalf of Analog Devices. Photronics strives to maintain outstanding value, quality and customer service and we appreciate the fine working relationship we have with the Analog Devices team across many levels and continents. We received our first Supplier Excellence Award in 2003, our second in 2007, and this year's award affirms that our work together continues to develop and strengthen every year. We appreciate Analog Devices' vote of confidence in awarding Photronics the coveted 2011 Supplier Excellence Award and look forward to continuing our highly productive partnership."

"Analog Devices presents this special achievement award to Photronics Inc. in recognition of the outstanding support provided to Analog Devies Inc. throughout fiscal year 2011," commented Vincent Simonelli, director of global purchasing for Analog Devices, Inc. "Their ongoing commitment to excellence in customer service on a 24/7 basis and the support provided by the entire team at Photronics enabled ADI to achieve our cycle time targets for the release of new products to production in our wafer fabs. Photronics Inc. also provided excellent technical support to ADI and interface on a regular basis with both our technical and procurement organizations. In recognition of the customer service and support provided in 2011 and the long standing business relationship between our two companies, we are delighted to present this award to Photronics, Inc."

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.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" 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' web site involve risks and uncertainties that may affect the Company'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. Accordingly, there is no assurance that the Company'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.

About Analog Devices

Innovation, performance, and excellence are the cultural pillars on which Analog Devices has built one of the longest standing, highest growth companies within the technology sector. Acknowledged industry-wide as the world leader in data conversion and signal conditioning technology, Analog Devices serves over 60,000 customers, representing virtually all types of electronic equipment. Analog Devices is headquartered in Norwood, Massachusetts, with design and manufacturing facilities throughout the world. Analog Devices is included in the S&P 500 Index.

07-2012

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