The Macricostas Family Scholarship Foundation, a not-for-profit organization, announced today that it has awarded a total of $43,500 to 37 deserving college students whose parents are employed by Photronics, Inc. (Nasdaq: PLAB) for the 2009 - 2010 academic year. The Foundation, established in 1997 with an initial endowment of $500,000 by the family of Photronics chairman and founder Constantine (“Deno”) Macricostas, has awarded over $574,250 in scholarship awards since its inception. The Foundation’s mission is to provide financial assistance to children of Photronics’ employees who have demonstrated outstanding academic achievement and personal character.

"Investing in education is one of the best ways to improve an individual's opportunities in life. The higher education system is vitally important to the well-being of American society and is essential to the continued economic growth and progress of the United States," stated Mr. Macricostas. "By offering financial assistance to all qualified and motivated students of Photronics' U.S.-based employees, the Foundation is proud to assist these young adults achieve their personal, civic and global goals," concluded Mr. Macricostas.

The Macricostas Family Scholarship Foundation was created to recognize and encourage deserving students whose parents are employed at Photronics. The Foundation was created to help defray the cost of higher education. Scholarships are awarded on the basis of academic performance, participation in school, community-related extra-curricular activities, and essay submissions. Scholarship awards are determined by an independent committee and administered by the Photronics Human Resources Department.

09-2009

Photronics, Inc.
Priscilla Shurick
Vice President, Human Resources
203-775-9000
pshurick@photronics.com
www.photronics.com