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TowerJazz Announces Appointment of Keiichi Kawabata as Representative Director and President of TowerJazz Japan, Ltd. and

  TowerJazz Announces Appointment of Keiichi Kawabata as Representative
  Director and President of TowerJazz Japan, Ltd. and Michael Song as Vice
  President of Sales and President of TowerJazz Korea

   Mr. Kawabata, industry veteran, brings proven leadership experience and
   extensive background in sales and marketing to address growing needs of
                              customers in Japan

Mr. Song, who leads the TowerJazz Korea Office, will further expand sales and
                    technical support for Korean customers

Business Wire

NISHIWAKI, Japan -- February 18, 2013

TowerJazz, the global specialty foundry leader, today announced the
appointment of Keiichi Kawabata as Representative Director and President of
TowerJazz Japan, Ltd. and the nomination of Michael Song as Vice President of
Sales and President of TowerJazz Korea. TowerJazz is strengthening its sales
organization to focus on Japan business and providing increased business and
technical support to address the growing customer needs in Japan and the APAC
region. TowerJazz is extending its offering in its Nishiwaki fab to address
the RF market as well as power management, CMOS image sensors (CIS), MEMS,
TOPS and other applications. Furthermore, to better support its local
customers and expand business in Japan, TowerJazz has launched a Japanese
language website: http://www.towerjazz.com/jp/.

In his role, Kawabata will be responsible for leading the Business Development
and Sales group. He has nearly 30 years of managerial experience in creating
global sales and marketing strategies through strong leadership and focused
efforts (especially sales penetration and technical engineering/marketing) and
building robust customer relationships through many years of experience
working with people from diverse backgrounds. Kawabata’s strength in
leadership is based on scientific analytical thought, strategic marketing
ability and project management skills, as well as devotion to developing
newer, unique approaches to business processes. His experience includes roles
at Novellus Japan Corporation as President; Miyoshi Kasei Inc. as President;
Avnet Japan, Inc. as Representative Director and COO; and various executive
positions for 20 years at Tokyo Electron Limited.

Michael Song joined TowerJazz in 2009 as Korea Country Manager, and to date
has attained a number of significant achievements such as increasing the
number of Korean customers from zero to more than 50 and growing revenue by
about 400%. He also played a critical role in defining long-term market and
technical trends, especially in the power management area. His insight and
aggressive push to develop differentiated platforms for Korean customers has
led TowerJazz to become the fastest growing foundry in Korea.

“Keiichi’s extensive knowledge and impressive track record will help us better
serve our Japanese customers and increase our market share in Japan,” said
Russell Ellwanger, TowerJazz Chief Executive Officer. “Furthermore, this newly
created role evidences the importance TowerJazz is placing on the Japanese
market and in supporting the foundry needs of the APAC region at our Nishiwaki
facility. Keiichi’s expertise in leadership strategies, sales and customer
relationships will be of enormous benefit to us.”

“In addition, the appointment of Michael Song to Vice President of Sales and
President of TowerJazz Korea recognizes the increased business and expanded
relationships we have realized in Korea in the past few years since he joined
TowerJazz as Country Manager. We look forward to Michael continuing to lead
his team’s growing success in the region,” added Ellwanger.

"This is an extraordinary opportunity that I have accepted with great
excitement and determination,” said Kawabata. “The IDM and fabless business in
Japan is growing rapidly and I am pleased to lead the Nishiwaki plant in
becoming the highest volume 200mm fab in the world. I strongly believe that
TowerJazz Japan’s growth will continue to accelerate significantly and I am
pleased with the quality of this facility and the excellence of the team. I
look forward to the continued qualification of our core process technologies
to serve the substantial growth demand from our Japanese customers and those
in the APAC region.”

Commenting on the appointment of his new role, Song said, “Since I joined
TowerJazz in 2009, we have achieved much in the way of growing our business in
this region, especially in the power management market. I was excited to join
the TowerJazz team then, and I am even more excited now about the momentum we
have built and will continue to build as we move forward in providing more
specialty process offerings and technical support for Korea’s next-generation
products.”

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
 
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