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TowerJazz to Service High Volume, Commercial Infrared Markets



  TowerJazz to Service High Volume, Commercial Infrared Markets

       Markets predicted by Maxtech International to reach >$5B by 2015

Business Wire

NEWPORT BEACH, Calif. -- June 19, 2013

TowerJazz, the global specialty foundry leader, today announced it will be the
wafer manufacturer for infrared sensing and camera devices using its proven
specialty process technologies. In addition to traditional infrared
applications, TowerJazz will facilitate expansion into other consumer markets
such as gaming, personal security, and application driven platforms, market
segments which are already well served by the company.

The advanced CMOS-based process at TowerJazz’s US location is a viable,
commercially sustainable foundry offering to support its commercial as well as
its aerospace and defense customers.

“This development is a natural fit for TowerJazz. Our leading edge CMOS for
custom imaging products and our expertise in bringing specialty processing and
MEMS to volume manufacturing fits extremely well with the proven capabilities
of our customer,” said David Howard, Executive Director and Fellow, TowerJazz.

“Combined external and internal investments will expand our existing
fabrication as well as facilitize an annex which will be used for certain
unique processes. This will be the first and only large scale pure play
foundry capable of producing fully integrated sensors. The application space
is expected to grow substantially, enabling a new and additional significant
revenue stream to the company,” said Russell Ellwanger, Chief Executive
Office, TowerJazz.

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, offering a broad range of customizable process technologies
including: SiGe, BiCMOS, Mixed-Signal/CMOS, RFCMOS, CMOS Image Sensor, Power
Management (BCD), and MEMS capabilities. TowerJazz also provides a world-class
design enablement platform that enables a quick and accurate design cycle. In
addition, TowerJazz provides (TOPS) Technology Optimization and development
Process Services to IDMs and fabless companies that need to expand capacity.
TowerJazz offers multi-fab sourcing with two manufacturing facilities in
Israel, one in the U.S., and one in Japan. 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 US Company/Media Contact:
Lauri Julian, +1-949-715-3049
lauri.julian@towerjazz.com
or
TowerJazz Investor Relations Contact:
Noit Levi, +972-4-604-7066
noit.levi@towerjazz.com
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