TowerJazz CEO Russell Ellwanger Discusses Expanding Business and Presence in Japan at World Semiconductor Summit in Tokyo 2013

  TowerJazz CEO Russell Ellwanger Discusses Expanding Business and Presence in
  Japan at World Semiconductor Summit in Tokyo 2013

Business Wire

NISHIWAKI, Japan -- February 4, 2013

TowerJazz, the global specialty foundry leader, today announced its Chief
Executive Officer, Russell Ellwanger will present “Industry Trends Served
through Analog Technology” at the World Semiconductor Summit in Tokyo on
February 6, 2013, which is organized by Nikkei Electronics. Mr. Ellwanger will
be presenting for the first time at a conference in Japan as one of the top
executives in the semiconductor industry. Mr. Ellwanger’s speech will take
place at 3:20pm – 4:10pm at Kokuyo Hall in Shinagawa, Tokyo.

At the event, Mr. Ellwanger will discuss some of the industry megatrends and
the technical requirements relevant to the analog market as well as
TowerJazz’s advanced specialty process platform solutions. He will present the
business and technology strategies that are behind TowerJazz's growth and its
mantra and philosophy of “Pursuit of Excellence.” Mr. Ellwanger will also
introduce TowerJazz's initiatives aimed at establishing a strong and vast
presence in Japan and emphasize the growing role of the analog foundry in
Japan.

"TowerJazzhas been steadily increasing itspresence in Japan as a pure play
foundry,and is now in a solid positionmovinginto2013,topositively impact
the Japanese semiconductor landscape through our local capability and
activities,” said Mr. Ellwanger. “I am pleased to speak at the World
Semiconductor Summit in Tokyo. The Japanese market is an important focus
having been the world center of semiconductor activity. We
viewourNishiwakiplantas primedtobecomethe world’s highest volume
production 200mm fab andhave already qualified a number of technologies
atthisfabwhile introducing our world-class design enablement offerings to
theJapanese market. Wehavegaineda great deal oftraction and continueto
exploremanynew engagementsand customer partnerships in this region.”

For more details about this conference, please visit the following website:
http://techon.nikkeibp.co.jp/article/SEMINAR/20121207/255215/ (Japanese only).

About TowerJazz

Tower Semiconductor Ltd. (NASDAQ: TSEM)(TASE: TSEM), its fully owned U.S.
subsidiary Jazz Semiconductor Ltd., and its fully owned Japanese subsidiary
TowerJazz Japan, Ltd., operate collectively under the brand name TowerJazz,
the global specialty foundry leader. TowerJazz manufactures integrated
circuits with geometries ranging from 1.0 to 0.13-micron, offering a broad
range of customizable process technologies including: SiGe, BiCMOS,
Mixed-Signal and RFCMOS, CMOS Image Sensor, Power Management (BCD), and
Non-Volatile Memory (NVM) as well as CMOS and MEMS capabilities. TowerJazz
also offers a world-class design enablement platform that complements its
sophisticated technology and enables a quick and accurate design cycle. In
addition, TowerJazz provides (TOPS) Technology Optimization Process Services
to IDMs as well as fabless companies that need to expand capacity, or progress
from an R&D line to a production line. To provide multi-fab sourcing,
TowerJazz maintains two manufacturing facilities in Israel, one in the U.S.,
and one in Japan with additional capacity available in China through
manufacturing partnerships. For more information, please visit
www.towerjazz.com.

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 TowerJazz’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,
respectively. Tower and Jazz do not intend to update, and expressly disclaim
any obligation to update, the information contained in this release.

Contact:

TowerJazz
Company/Media Contact in Asia:
Shoko Saimiya, 81-795-23-6609
saimiya@towerjazz.com
or
Investor Relations Contact:
Noit Levi, +972-4-604-7066
noit.levi@towerjazz.com