Fremont, CA, October 21, 1999-Asyst Technologies, Inc. (Nasdaq NM: ASYT), the leading provider of minienvironment and manufacturing automation systems that enable semiconductor manufacturers to increase their manufacturing productivity and protect their investment in wafers, today announced that it has filed a registration statement in connection with a proposed underwritten public offering of 2,000,000 shares of its Common Stock, plus an over-allotment option of 300,000 shares. Merrill Lynch and Lehman Brothers, Inc. will be acting as co-lead managers, and Adams, Harkness & Hill, Inc. and Needham & Company, Inc. will be acting as co-managers of the underwriting syndicate which will offer the shares to the public.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.

A prospectus for the offering may be obtained once available by contacting the Prospectus Department of Merrill Lynch Capital Markets, World Financial Center, North Tower, Fifth Floor, New York, NY 10281, (212) 449-4600 or Lehman Brothers, Inc., Equity Syndicate, Three World Financial Center, 200 Vesey Street, New York, NY 10285, (212) 526-9420.

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.