Toppan Printing Successfully Completes Acquisition of DuPont Photomask

    Business Editors/Technology Writers

    TOKYO & ROUND ROCK, Texas--(BUSINESS WIRE)--April 22, 2005--Toppan Printing Co., Ltd. ("Toppan") (TSE:7911) today announced it has successfully completed the acquisition of DuPont Photomasks, Inc. ("DuPont Photomasks") (Nasdaq:DPMI).
    Under the terms of the definitive agreement previously announced on Oct. 5, 2004, DuPont Photomasks shareholders will receive US$27.00 in cash per share. The equity value of the transaction is approximately US$650 million (approximately 68 Yen billion) on a diluted basis. The acquisition was approved by shareholders of DuPont Photomasks on March 28, 2005.
    Effective immediately, DuPont Photomasks becomes a wholly owned subsidiary of Toppan, named Toppan Photomasks, Inc. The company will continue to be incorporated in Delaware and remain headquartered in Round Rock.
    Toppan will combine its existing photomask business with that of Toppan Photomasks. Together, the combined businesses will form the world's largest and premier manufacturer of photomasks, a critical component in the manufacture of semiconductors.
    Akihiro Nagata, a senior managing director of Toppan and head of Toppan's Electronics Division, has become chairman of the Toppan Photomasks board of directors. Marshall Turner continues as chief executive officer.
    Akihiro Nagata, chairman of Toppan Photomasks, said, "Toppan has positioned its photomask business as a key engine for future growth. Through this acquisition, Toppan has moved to meet an evolving need among semiconductor manufacturers for comprehensive photomask product supply based on an advanced technology development capability, through a global network. The combination of Toppan Photomasks with Toppan's existing photomask business will create the world's premier photomask manufacturer, and will bring about significant synergies, providing enhanced access to customer business and increased cost efficiencies. We believe this transaction will not only benefit customers but will also contribute to the overall development of the semiconductor industry."
    Marshall Turner, president and chief executive officer of Toppan Photomasks, said, "The combination of Toppan and DuPont Photomasks creates the world's first truly global photomask supplier. We are excited to offer customers access to the most advanced and geographically distributed network of photomask manufacturing locations across North America, Europe, Japan and Asia. We will not take our leadership position lightly. Together, we will continue to innovate, providing the semiconductor industry with unique and comprehensive solutions to the challenges of today, and for many years to come."

    About Toppan Photomasks

    Toppan Photomasks was formed in 2005, when Toppan Printing Co., Ltd. acquired DuPont Photomasks, Inc. The combination of Toppan Photomasks with the photomask business of Toppan Printing forms the world's premier photomask provider. Based in Round Rock, Texas, Toppan Photomasks offers a comprehensive range of photomask technologies, and research and development capabilities, as well as the most advanced and largest network of manufacturing facilities in the industry. Strategically located manufacturing facilities are operated in Japan, China, Korea, Singapore, Taiwan, United States, Germany and France. Toppan Photomasks is a wholly owned subsidiary of Toppan Printing. For more information visit www.photomask.com.

    About Toppan Printing

    Founded in 1900, Toppan Printing has branched into eight diverse business fields including security cards, commercial printing, publications printing, e-business, packaging, decorative materials, electronics and optronics. In the fiscal year ended March 31, 2004, Toppan posted revenues of 1,297.4 Yen billion (approximately US$11.8 billion) and ended the year with approximately 32,000 employees. For more information visit www.toppan.co.jp.

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CONTACT: Toppan Public Relations Department: +813 (3835) 5630 kouhou@toppan.co.jp or Toppan Photomasks, Round Rock Tom Blake, 512-310-6562 tom.blake@photomask.com

KEYWORD: DELAWARE TEXAS TAIWAN JAPAN SOUTH KOREA CHINA SINGAPORE GERMANY FRANCE INTERNATIONAL ASIA PACIFIC EUROPE INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS PUBLISHING COMPUTERS/ELECTRONICS MERGERS/ACQ SOURCE: DuPont Photomasks, Inc.

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