ORBK Orbotech Ltd. - Ordinary Shares

ORBOTECH LTD. (NASDAQ/NM SYMBOL: ORBK) today released details of the previously announced, largest frame agreement ever with a single electronics manufacturer, for the purchase of multiple automated optical inspection (AOI) systems for use in bare printed circuit board (PCB) manufacturing. This agreement, with a leading PCB maker in the Pacific region, is for more than 80 Discovery(TM) AOI systems and other related equipment scheduled for delivery throughout 2006, and totals approximately $18 million dollars in value. We are honored to have been selected as the vendor of choice for this record-breaking deal", said Mr. Asher Levy, Executive Vice President for Business and Strategy at Orbotech Ltd. "Our Discovery AOI systems have drawn extremely favorable responses from customers worldwide, making them the best-selling AOI solution in the PCB industry and reflecting their proven and unparalleled AOI results in the critical areas of operational efficiency, throughput and labor cost reduction, in a wide range of applications and at an affordable price." Prismark Partners LLC, a leading research and consulting firm in the bare printed circuit board industry, said: "The PCB industry in the Pacific region is expanding rapidly. We are seeing positive market conditions with strong capacity utilization and continued strategic investments in capital equipment at many companies. It is a very competitive market and new equipment can often provide distinct and immediate advantages for advancing technological capabilities, improving operational efficiencies and increasing margins. Orbotech has demonstrated leadership in its markets and is very well positioned to address manufacturers' requirements for AOI, imaging and CAM/Engineering." Featuring a breakthrough approach to AOI, combined with a totally new user experience, the Discovery AOI series with SIP Technology(TM) delivers Simple, Intelligent and Powerful AOI performance that achieves exceptional AOI throughput and has a major impact on manufacturers' bottom line results. With the system's innovative Push-to-Scan(R) operation even the most complicated AOI tasks are made easy. Built-in Visual Intelligence(TM), now offered for the first time in AOI, means that PCB manufacturers need no longer compromise between detection and false calls, or waste time reviewing non-critical defects. This next-generation system offers high speed, minimized false calls and maximum up-time. The Discovery series is available in a number of configurations and is the ideal solution for all production applications, including high-volume at over 200 sides per hour at 100 um and advanced High Density Interconnect and Ball Grid Array production with inspection capabilities down to 35 um line/space. About Orbotech Ltd. 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 financial institutions. 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 35 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. 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.