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Orbotech Receives Major Order from Leading Taiwanese LCD-TFT Manufacturer

Jul 03, 2003

YAVNE, ISRAEL - 2-Jul-2003

Orbotech Ltd. (NASDAQ/NM SYMBOL: ORBK) today announced the receipt of a major order for ten additional automated optical inspection ('AOI') systems from AU OPTRONICS, a leading Taiwanese manufacturer of thin film transistor liquid crystal displays. These systems, which are designated for installation in AU Optronics' newest, state-of-the-art 5th generation LCD fabrication facility, will bring to over thirty the total number of Orbotech systems currently utilized in AU Optronics' multi-fab operations.

Commenting on the order, Dr. Po-Yen Lu, Executive Vice President at AU Optronics, said: 'We value the contribution of Orbotech AOI equipment to the success of our first Gen 5 factory. Orbotech has proven its ability to support our needs, and we are therefore happy to continue our relationship by selecting their systems for our new factory as well.'

This additional order is comprised of a combination of Orbotech's industry-standard FPI-7598� AOI systems, and several new InVision-8050� in-line AOI systems which are installed within other process equipment in an in-line, or so-called `in-situ' configuration.

Mr.Assaf Eyal, Co-President of the Display Division at Orbotech Ltd., stated, 'We are proud to have earned the continuing trust of AU Optronics in our products, technologies and support. We look forward to working together closely on this multi-system installation, which will include the first in-line integration of our FPD-AOI systems.

He added: 'The `in-situ' concept is relatively new and presents some very challenging customer requirements, which we are confident our InVision systems can effectively address. We are fully committed to meeting evolving market needs such as those for in-line AOI and for the inspection of next generation technology. With our recent product introductions, we believe that Orbotech has the most comprehensive offering of AOI and related yield-enhancing solutions available in the market today.'

Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties which could cause the actual results to differ materially from those projected, including industry trends, the timing and strength of product and service offerings, changes in business or pricing strategies, changes in the prevailing political and regulatory framework in which the relevant parties operate or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a global, regional or national basis and other risks detailed from time to time in the Company's SEC reports. The Company assumes no obligation to update the information in this press release.

Orbotech is a world leader in providing yield-enhancing, production support solutions for specialized applications in the supply chain of the electronics industry, principally for printed circuit boards (PCBs) and flat panel displays (FPDs). The Company designs, develops, manufactures, markets and services automated optical inspection (AOI) systems for bare and assembled PCBs and for FPDs, and imaging solutions for PCB production. The Company's innovative AOI, imaging and computer-aided manufacturing (CAM) technologies enable customers to achieve the increased yields and throughput essential to remaining at the forefront of electronics production. Through its subsidiary, Orbograph Ltd., the Company also develops and markets automatic check reading software to banks and other check processing organizations. Of Orbotech's employees, more than one quarter are scientists and engineers, who integrate their multi-disciplinary knowledge, talents and skills to develop and provide advanced technologies and sophisticated solutions designed to meet customers' long-term needs. Orbotech maintains its headquarters and its primary research, development and manufacturing facilities in Israel, and more than 30 offices worldwide. The Company's extensive network of marketing, sales and customer support teams throughout North America, Europe, the Pacific Rim, China and Japan deliver its knowledge and expertise directly to customers the world over. For more information visit http://www.orbotech.com.

Contact:

Adrian Auman

Corporate Vice President, Investor Relations, Director of Finance

Orbotech Ltd.

972-8-942-3560

OR

Amichai Steinberg

CFO & Corporate VP Finance

Orbotech Ltd.

972-8-942-3524

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