Asyst is First Semiconductor Equipment Company to Make Strong Commitment to Region by Transitioning Entire North American Production to Singapore

SINGAPORE, March 17, 2003 – Asyst Technologies, Inc. (Nasdaq NM: ASYT) and Solectron Corporation (NYSE: SLR) today unveiled a new, state-of-the-art clean room that represents the largest commitment ever to the production of semiconductor manufacturing equipment in Singapore. With 2002 sales in excess of (USD) $200 million, Asyst is expected to generate more than (USD) $100 million worth of production in the facility’s first year of operation. Shinei International, a Singapore-based subsidiary of Solectron, established the 16,000-square-foot, class-10,000 and class-1,000 clean-room facility on an existing site at 31 Joo Koon Circle, Jurong Town, Singapore.

Steve Schwartz, chairman and CEO of Asyst Technologies, said, “This is an important step toward our goal of making Asyst a $1 billion company that delights its customers through technology and operational excellence. This new operational model combines the superior business environment in Singapore, the Singapore-based engineering and manufacturing expertise provided by our partners Solectron and Shinei, and the advantages of manufacturing our products close to our many chip manufacturing customers in Asia. We are grateful for the efforts of Solectron, Shinei, and the Singapore Economic Development Board that have made this moment possible.”

Fred Tiso, senior vice president, manufacturing operations for Asyst, said, “By entrusting the production and factory service of our products to a proven quality manufacturer such as Solectron, we believe that Asyst now possesses the most efficient, highest quality, and most scaleable supply chain capability in the semiconductor manufacturing automation industry. This includes new product introduction capability that will ensure superior manufacturability and time-to-volume of newly developed products, which leverages Asyst’s core strengths in product innovation. We are delighted to be shipping volume out of Singapore within four months of beginning our transition to Solectron, and within 8 months of beginning the evaluation and selection process that led us to this partnership.”

“We are pleased to work with Asyst in Singapore,” said Chester Lin, executive vice president and president Solectron Asia/Pacific. “Asyst takes advantage of our complete product life-cycle solutions for robotics and automated equipment, and allows us to expand our reach in a very important sector. The clean room we are opening today will enable us to provide the quality that our customers have come to expect from Solectron.”

On this new partnership, Teo Ming Kian, chairman, Singapore Economic Development Board said, “We welcome Asyst in setting up its global manufacturing location in Singapore, in partnership with Solectron. Both are well known global companies. This investment will help not only Asyst and Solectron in competing in the world market, it will help enhance Singapore as a location for leading-edge equipment companies. This will further entrench Singapore as a hub for manufacturing.”

Press Invited to Attend Grand Opening
Beginning at 11:30 am on Monday, March 17, there will be a grand opening event to recognize the establishment of this new facility. The event will include a facility tour, unveiling ceremony and speeches by Mr. Steve Schwartz, Mr. Chester Lin, and Mr. Teo Ming Kian. The event will be held at the Shinei facility at 31 Joo Koon Circle, Jurong Town, Singapore.

About Asyst
Asyst Technologies, Inc. is a leading provider of integrated automation systems for the semiconductor manufacturing industry, which enable semiconductor manufacturers to increase their manufacturing productivity and protect their investment in silicon wafers during the manufacture of integrated circuits, or ICs. Encompassing isolation systems, work-in-process materials management, substrate-handling robotics, automated transport and loading systems, and connectivity automation software, Asyst’s modular, interoperable solutions allow chipmakers and original equipment manufacturers, or OEMs, to select and employ the value-assured, hands-off manufacturing capabilities that best suit their needs. Asyst’s homepage is http://www.asyst.com

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995
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: the volatility of semiconductor industry cycles, inability to manage cash flows, failure to respond to rapid demand shifts, dependence on a few significant customers, the transition of the industry from 200mm wafers to 300mm wafers, risks associated with the acceptance of new products and product capabilities, competition in the semiconductor equipment industry, failure to efficiently integrate acquired companies, failure to retain employees, and other factors more fully detailed in the company’s annual report on Form 10-K for the year ended March 31, 2002, and Form 10-Q for the period ended Sept. 30, 2002, filed with the Securities and Exchange Commission.

CONTACT:

Investor Contact
John Swenson
Asyst Technologies, Inc.
(510) 661-5000
(510) 661-5166 (fax)
jswenson@asyst.com