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Tower and Jazz Semiconductor Join Forces with SVTC to Expand MEMS Aerospace and Defense Customer Base

August 20, 2009

NEWPORT BEACH, California, August 20 /PRNewswire-FirstCall/ — Tower
Semiconductor, Ltd. (NASDAQ: TSEM, TASE: TSEM), and its fully owned U.S.
subsidiary Jazz Semiconductor, Inc., today announced they have signed a
Memorandum of Understanding (MOU) with SVTC Technologies that will expand
Tower and Jazz’s Aerospace and Defense (A&D) MEMS customer base while
providing SVTC’s A&D customers with access to select Jazz technology and U.S.
manufacturing facilities. The collaboration will make possible the
integration of advanced CMOS with existing RF and mixed-signal devices,
enabling multiple functions on a single piece of silicon in A&D applications
such as aircraft radar and communications devices, among others.

Under the agreement, elements of Jazz’s MEMS friendly CMOS baseline will
be made available to SVTC A&D customers to facilitate the insertion of new
modules into a proven CMOS flow. In addition, Jazz will make available
components of its design enablement infrastructure to facilitate SVTC
customers early design activity. In addition, the companies will implement a
fast transfer methodology to allow Jazz customers to perform R&D at SVTC and
provide SVTC customers a fast path to production at Jazz.

MEMS (Micro-electro-mechanical systems) devices are one of the fastest
growing technology areas, integrating mechanical elements, sensors,
actuators, and electronics on a common silicon substrate. They have proven to
be a key enabling technology in A&D applications in markets such as
transportation and telecommunications. According to a global forecast of the
overall MEMS market by the Electronics Industry Market Research and Knowledge
Network, the worldwide market for MEMS devices and production equipment was
worth an estimated $5 billion in 2005, and will increase to $12.5 billion
through 2010, an average annual growth rate (AAGR) of more than 20%.

“This partnership brings a strong synergy between the companies in
developing and expanding our MEMS capabilities,” said Joe Bronson, Chief
Executive Officer of SVTC. “Jazz already has a very strong footprint in the
Aerospace and Defense industry and this collaboration will enable us to bring
together their advanced CMOS with our combined MEMS expertise to develop
tools and processes to meet the needs of our customers’ next-generation
applications.”

“We are pleased to form this alliance with SVTC to enable their A&D
customers to gain access to our U.S. manufacturing capability for MEMS
technology while offering our customers a wider breadth of development
options through SVTC helping both companies gain even more traction in this
strong growth market. This is an important step in becoming a world leader in
full flow MEMS manufacturing,” said Russell Ellwanger, Tower’s Chief
Executive Officer. “I am additionally thrilled to again partner with Joe
Bronson
, a long time friend and mentor, and hence to grow our respective
companies to the benefit of our customers.”

Jazz was one of the first pure-play foundries with MEMS manufacturing
capability allowing for the industrial scaling of MEMS products in an
advanced CMOS foundry environment. Tower and Jazz continue to augment their
portfolio of specialty silicon technology including MEMS manufacturing along
with their suite of analog and RF CMOS, high speed SiGe, and high voltage
processes enhancing the ability of their customers to create and bring to
market more highly integrated analog products.

About SVTC Technologies

SVTC accelerates the development and commercialization of innovative
silicon-based technologies and products, cost-effectively and in an IP-secure
manner. Through facilities in San Jose, California, and Austin, Texas, SVTC
serves customers in rapidly growing markets such as novel memory, novel
transistors, logic, MEMS, biotechnology, image sensors and high-voltage
applications. SVTC offers a suite of leading-edge equipment and services,
including full-scale 8-inch and 12-inch process capabilities, advanced CMOS
equipment, analytical services, development support tools and
commercialization services. SVTC is co-owned by Oak Hill Capital Partners and
Tallwood Venture Capital along with management. SVTC Technologies is an Equal
Opportunity Employer. More information can be found at http://www.svtc.com.

About Tower Semiconductor, Ltd. and Jazz Semiconductor, Inc.

Tower Semiconductor Ltd. (NASDAQ: TSEM, TASE: TSEM) is a global specialty
foundry leader and its fully owned subsidiary Jazz Semiconductor, a Tower
Group Company is a leader in Analog-Intensive Mixed-Signal (AIMS) foundry
solutions. Tower and Jazz manufacture integrated circuits with geometries
ranging from 1.0 to 0.13-micron and provide industry leading design
enablement tools to allow complex designs to be achieved quickly and more
accurately. Tower and Jazz offer a broad range of process technologies
including Digital, Mixed-Signal and RFCMOS, HV CMOS, BCD, Non-Volatile Memory
(NVM), Embedded NVM, MEMS, and CMOS Image Sensors. To provide world-class
customer service, Tower and Jazz maintain two manufacturing facilities in
Israel and one in the U.S. with additional manufacturing capacity available
in China through partnerships with ASMC and HHNEC. For more information,
please visit http://www.towersemi.com and http://www.jazzsemi.com.

SVTC and the SVTC logo are trademarks of SVTC Technologies, LLC. All
other trademarks are the property of their respective owners.

Safe Harbor Regarding Forward-Looking Statements

This press release includes forward-looking statements, which are subject
to risks and uncertainties. Actual results may vary from those projected or
implied by such forward-looking statements. A complete discussion of risks
and uncertainties that may affect the accuracy of forward-looking statements
included in this press release or which may otherwise affect Tower’s and
Jazz’s business is included under the heading “Risk Factors” in Tower’s most
recent filings on Forms 20-F, F-3, F-4 and 6-K, as were filed with the
Securities and Exchange Commission (the “SEC”) and the Israel Securities
Authority and Jazz’s most recent filings on Forms 10-K and 10-Q, as were
filed with the SEC. Tower and Jazz do not intend to update, and expressly
disclaim any obligation to update, the information contained in this release.

    Jazz Company Contact:                Jazz Media Contact:
    Melinda Jarrell                      Lauri Julian
    +1-949-435-8181                      +1-949-715-3049
    melinda.jarrell@tower-usa.com        lauri.julian@jazzsemi.com

    Tower Investor Relations Contact:
    Noit Levi
    +972-4-604-7066
    noitle@towersemi.com

SOURCE Tower Semiconductor Ltd


Source: newswire



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