YAVNE, Israel, Apr 16, 2004 (BUSINESS WIRE) -- ORBOTECH LTD. (NASDAQ/NM SYMBOL: ORBK) today announced that it has been advised by Clal Industries and Investments Ltd.("Clal") that the other shareholders of Negevtech Ltd., a privately held Israeli company, are exercising their pre-emptive rights to acquire all the shares of Negevtech Ltd. which were the subject of Orbotech's previously announced agreement with Clal. Accordingly, Orbotech will not be purchasing these shares from Clal. 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 sophisticated solutions and technologies 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 www.orbotech.com.

SOURCE: Orbotech Ltd.