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Orbotech Introduces Next Generation Direct Imaging Solution

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Orbotech Ltd (NASDAQ:ORBK) announced today that it will be launching its newest Direct Imaging (DI) system, the cutting-edge NuvogoTM 800, for digital imaging of fine-line HDI, MLB, Flex and Rigid-Flex applications for mass production, at the TPCA Show, booth: NO.I1021, October 22-24.

The next generation of Orbotech’s DI family, the Nuvogo 800 makes DI more economically viable for producers by lowering overall operational costs while improving quality and throughput. For the last decade Orbotech has promoted its vision of gradually replacing conventional exposure machines with DI, thereby digitizing the production processes. With Nuvogo 800 this can now be realized across multiple applications and market segments.

“As the demand for high-end electronic devices increases, so too has the need for a faster and more efficient imaging solution increased. For many years Orbotech has applied its expertise to developing and refining Direct Imaging solutions – the Nuvogo 800 DI system turns our vision of replacing today’s traditional exposure machines into a conceivable reality”, stated Mr. Arik Gordon, PCB Division President at Orbotech. He added, “Nuvogo 800 features our highly advanced MultiWave Laser TechnologyTM, offering additional flexibility in production, by enabling PCB producers to image on a broad range of resists while significantly reducing total cost of ownership. The Nuvogo 800 will provide the industry with a powerful and cost-effective solution while setting a new standard in direct imaging for high-end mass production.”

About Nuvogo 800:

Equipped with the industry’s most advanced optics and electronics, Nuvogo 800 is designed to achieve fine-line structures at unmatched speeds. Powered by MultiWave Laser TechnologyTM, Nuvogo 800 generates a multi wavelength laser beam for optimal precision of line structure on a vast range of resist types. This provides manufacturers of PCB with the flexibility to choose lower-cost resist types whenever possible in order to further reduce total operating costs.

The dual table transport mechanism allows the system to achieve maximum use of system time for panel imaging. Smooth job changes are facilitated by the system’s fast setup capabilities and automatic acquisition of targets. Applying Orbotech’s field-proven Large Scan Optics (LSO) TechnologyTM for the most advanced HDI production, the system achieves throughput of up to 7,000 panels per day, and high depth-of-focus on panel topography changes (thin layers, Flex and Rigid-Flex) for superior results.

About Orbotech Ltd.

Orbotech Ltd. (NASDAQ:ORBK) has been at the cutting edge of the electronics industry supply chain, as an innovator of enabling technologies used in the manufacture of the world’s most sophisticated consumer and industrial products, for over 30 years. The Company is a leading provider of yield-enhancing and production solutions, primarily for manufacturers of printed circuit boards, flat panel displays and other electronic components. Today, virtually every electronic device is produced using Orbotech technology. The Company also applies its core expertise and resources in other advanced technology areas, including character recognition for check and forms processing and solar photovoltaic manufacturing. Headquartered in Israel and operating from multiple locations internationally, Orbotech’s highly talented and inter-disciplinary professionals design, manufacture, sell and service the Company’s end-to-end portfolio of solutions for the benefit of customers the world over. For more information please see the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC“) at www.sec.gov. and visit the Company’s corporate website at www.orbotech.com. The corporate website is not incorporated herein by reference and is included as an inactive textual reference only.

Cautionary Statement Regarding Forward-Looking Statements

Except for historical information, the matters discussed in this press release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, future prospects, developments and business strategies and involve certain risks and uncertainties. The words “anticipate,” “believe,” “could,” “will,” “plan,” “expect” and “would” and similar terms and phrases, including references to assumptions, have been used in this press release to identify forward-looking statements. These forward-looking statements are made based on management’s expectations and beliefs concerning future events affecting Orbotech and SPTS and are subject to uncertainties and factors relating to Orbotech’s and SPTS’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control. Many factors could cause the actual results to differ materially from those projected including, without limitation, the completion, timing, terms and anticipated benefits of the acquisition of SPTS and the related financing transactions; the timing and impact of conversion of SPTS’s financial statements from U.K. GAAP to U.S. GAAP and the Company’s ability to switch SPTS to a U.S. GAAP reporting regime; Orbotech’s ability to effectively integrate and operate SPTS’s business following the acquisition, the timing, terms and success of any other strategic or other transaction, cyclicality in the industries in which the Company or SPTS operates, the Company’s and SPTS’s production capacity, timing and occurrence of product acceptance (the Company defines ‘bookings’ as purchase arrangements with customers that are based on mutually agreed terms which, in some cases, may still be subject to completion of written documentation and may be changed or cancelled by the customer, often without penalty), fluctuations in product mix, worldwide economic conditions generally, especially in the industries in which the Company or SPTS operate, the timing and strength of product and service offerings by the Company, SPTS and each of their competitors, 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, the level of consumer demand for sophisticated devices such as smartphones, tablets and other electronic devices, the final outcome and impact of the criminal matter and ongoing investigation in Korea, including its impact on existing or future business opportunities in Korea and elsewhere, any civil actions related to the Korean matter brought by third parties, including the Company’s customers, which may result in monetary judgments or settlements, expenses associated with the Korean matter, ongoing or increased hostilities in Israel and other risks detailed in the Company’s SEC reports, including the Company’s Annual Report on Form 20-F for the year ended December 31, 2013, and subsequent SEC filings. The Company assumes no obligation to update the information in this press release to reflect new information, future events or otherwise, except as required by law. SPTS’s financial statements have been prepared in accordance with U.K. GAAP. U.K. GAAP differs in certain important respects from U.S. GAAP, the basis for Orbotech’s financial reporting. Neither SPTS nor Orbotech has begun a reconciliation of SPTS’s financial statements from U.K. to U.S. GAAP and therefore cannot quantify the differences, which may be material. Orbotech will account for the acquisition of SPTS under the purchase method of accounting, which will result in a new valuation for the assets and liabilities of SPTS. The new basis of accounting will be based on the estimated value of the assets and liabilities on the closing date of the acquisition. Orbotech will not be preparing any pro forma information for the acquisition and financing until the reconciliation and valuation estimates have been prepared.

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