Fremont, CA, October 23, 1996 - Asyst Technologies, Inc. (Nasdaq: ASYT) today reported financial results for its 1997 fiscal second quarter ended September 30, 1996.

The Company said that revenues for the quarter were $40.6 million, an increase of 45 percent compared to revenues of $27.9 million for the same quarter last year. The Company had net income of $2.4 million or $0.47 per share, compared to net income of $2.7 million and $0.50 per share for the same period last year.

For the first six months of fiscal 1997, Asyst reported that revenues increased 75 percent to $82.9 million compared to $47.2 million in revenues for the same six-month period a year ago. Fiscal 1997 first half net income was $5.6 million or $1.07 per share, compared to net income of $4.8 million or $0.90 per share for the same six-month period in fiscal 1996.

Mihir Parikh, Asyst's chairman and chief executive officer, said that management was not able to achieve its objectives for the quarter due to customer order re-scheduling and product mix issues. "We are juggling our customers' changing demands while at the same time making strategic investments in Asyst products and infrastructure. While we feel very good about our long-term opportunities, near-term market turbulence has made it difficult to reach some of our short-term financial goals."

"Major semiconductor companies worldwide continue to choose our Asyst minienvironment/SMIF and Automation material management solutions. During the second quarter we expanded our global market penetration, receiving large contracts from leading U.S., European and Asian manufacturers. We are broadening our market opportunity with new products such as the SMIF-LPT 2200TM, which optimizes ergonomics during wafer loading and unloading, and the recently announced SMIF-LPO 2200TM which provides SMIF integration for platform-type tools and extends our capabilities to now address fully 100 percent of the wafer processing tools provided by OEMs (original equipment manufacturers). These equipment suppliers are vocal in their support for Asyst SMIF solutions and have been a factor in our ability to secure major customer orders. We are complementing our hardware solutions with extended software capability from Asyst Software, Inc., our new software subsidiary. Additionally, through acquisitions such as Radiance Systems, Inc., we are bringing into Asyst experienced managers for key positions to help shape and influence the Company's growth. We believe these combined actions will allow us to position Asyst to more effectively meet the needs of our customers and shareholders alike in the future," Parikh concluded.

This document may contain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to: the timing of significant customer orders; the timing of product shipments; variations in the mix of products sold; new product introductions by the Company; changes in customer buying patterns; fluctuations in the semiconductor equipment market; customers' acceptance of new products; and general industry conditions. These factors are more fully discussed in the Company's most recent Form 10-K for the fiscal year ended March 31, 1996.

About Asyst
Asyst Technologies, Inc. is the leading provider of material control and automation systems that help semiconductor manufacturers improve their integrated circuit (IC) manufacturing productivity. The company's Asyst-SMIFTM System combines state-of-the-art minienvironments with advanced robotics to create ultra-clean processing environments that are both comprehensive and flexible. The SMART-TravelerTM System (STS) works in tandem with SMIF to eliminate mis-processing. Both Asyst-SMIF and its companion STS products are integral to seamless factory automation. Asyst's subsidiary, Asyst Automation, Inc., focuses on material handling control software and inter-bay/intra-bay automation systems. The company's newest subsidiary, Asyst Software, Inc., is dedicated to the development of software products for equipment communications and automated material handling, identifications and tracking. Founded in 1984, Asyst Technologies, Inc. is headquartered in Fremont, CA, with facilities in Europe and the Far East. Asyst Automation, Inc. is located outside Boston, Mass., and Asyst Software is located in San Jose, CA The company's common stock trades on the Nasdaq Stock Market under the symbol ASYT.

About SMIF
SMIF stands for Standard Mechanical InterFace, the material handling approach that enables wafer transfer to and from the sealed SMIF environments without exposure to cleanroom ambient conditions. SEMI standards exist for 150- and 200-mm wafer sizes and are now being defined for 300mm.

A full-text copy of this announcement, recent stock price information, and other recent news announcements can be downloaded from the Web by visiting Asyst's "News on the Net" page at http://www.businesswire.com/cnn -- search on "Asyst Technologies".