Fourth Quarter Sales in Line with Strong Bookings Momentum

Fremont, CA, May 11, 1999 - Asyst Technologies, Inc. (Nasdaq:ASYT), the leading supplier of Standard Mechanical InterFace (SMIF) isolation and manufacturing automation solutions to the semiconductor industry, today reported financial results for its fourth quarter and fiscal year ended March 31, 1999.

Net sales for fiscal year 1999 were $84.2 million, compared to net sales of $165.5 million posted for fiscal year 1998. Net loss from continuing operations for fiscal 1999 was $21 million, or ($1.80) per share. This compares to fiscal 1998 net income from continuing operations of $18.2 million, or $1.51 per share.

Fourth quarter 1999 net sales were $17.2 million, as compared to fourth quarter fiscal year 1998 net sales of $45.2 million. Net loss from continuing operations for fourth quarter 1999 was $5.4 million, or ($0.47) per share, compared to fourth quarter 1998 income from continuing operations of $5.3 million, or $0.42 per share. Included in these fourth quarter results is a charge of $2.6 million (pretax) principally related to the restructuring of certain overseas operations. Excluding the restructuring charge, the net loss from continuing operations for fourth quarter fiscal year 1999 was $3.7 million, or ($0.32) per share.

Doug McCutcheon, senior vice president and chief financial officer, commented on the Company's financial performance, "With revenue levels of $17.2 million, the quarter's reported sales were in line with expectations. We saw a sharp rise in production marked by heavy turns in the March timeframe and were quickly able to apply resources to meet those needs. Although Asyst's gross margins declined to 33 percent in the past quarter due in part to one-time items, we believe that the Company will have an improved gross margin trend over the next several quarters."

"It is our belief that Asyst Technologies is well positioned for the growth opportunities that new fabs, fab expansions and fab upgrades provide," noted Asyst's Chairman and Chief Executive Officer Dr. Mihir Parikh. "As an indication that our business strategies are well focused, the Company continues to preserve its market-share leadership position. The breadth of our business continues to show strength, as indicated by the recently announced major upgrade of a Texas Instruments fab. While the 150-200 mm upgrade market represents a substantial growth arena for Asyst, the Company believes that it will further strengthen its position in the 300 mm market with its previously announced intent to acquire Progressive Systems Technologies, Inc., an Austin-based automation company."

Parikh continued, "The Company's strong bookings momentum has resulted in a book-to-bill ratio that is in alignment with the improving industry average. We are also pleased to see significant results from the programs Asyst has initiated for long-term growth. By maintaining our strategic focus during the industry's downturn, we were well positioned to address varying types of customer needs, new market requirements and securing of orders. We remain confident in the continuing acceptance of SMIF-based automation technologies."

Asyst President and Chief Operating Officer Terry Moshier, commented, "One of Asyst's key strategies is to capitalize on emerging market opportunities. The Company's acquisitions in the areas of robotics, auto-ID and wafer management systems further position Asyst to address these opportunities. Additionally, we made key recruiting efforts and strengthened our commitment to maintaining customer relationships. Our ongoing focus on asset and cost management continues. We are confident that our efforts will position Asyst to realize significant improvements in business levels as the semiconductor market improves."

Except for statements of historical fact, the statements in this press release are forward-looking. Such statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include, but are not limited to, general economic conditions, semiconductor industry cycles, risks associated with the acceptance of new products and product capabilities, and other factors more fully detailed in the Company's most recent Forms 10-K and 10-Q, and annual report to shareholders.

About Asyst:
The pioneer of the Standard Mechanical InterFace (SMIF), Asyst Technologies, Inc. is the leading provider of automated material handling systems and software critical to seamless factory automation in the most advanced fabs worldwide. Asyst's comprehensive solutions, which include industry-leading loadport, auto ID, environmental control, robotic, and automation software products for 200 mm and 300 mm applications, result in greater fab profitability and productivity.

Condensed Consolidated Statements of Operations
Condensed Consolidated Balance Sheets

	March 31, 1999	March 31, 1998
ASSETS
Current assets: Cash and cash equivalents Short-term investments Accounts receivable, net Inventories Prepaid expenses and other current assets Deferred tax asset Net current assets of discontinued operations	$   6,116 29,380 13,875 17,341 3,412 19,142 ---	$ 12,288 70,487 26,534 18,851 4,241 7,697 1,438
Total current assets	89,266	141,536
Property and equipment, net Other assets, net	11,648 18,852 $ 119,766	11,133 1,802 $ 154,471
Liabilities and Shareholders' equity
Current liabilities: Accounts payable Accrued liabilities and other current liabilities Customer deposits Income taxes payable       Total current liabilities	$4,403 9,079 1,806 676 15, 964	$ 8,671 13,124 1,267 606 23,668
Shareholders' equity: Common stock Retained earnings (deficit)	111,927 (8,125)	116,347 14,456
Total shareholders' equity	103,802 $ 119,766	130,803 $ 154,471