Nova Announces Full Recovery Of Its US$3M Auction Rate Securities Investments

Rehovot, Israel - Nova Measuring Instruments Ltd. provider of leading edge stand-alone metrology and the market leader of integrated metrology solutions to the semiconductor process control market, recently announced full recovery of its US$3M Auction Rate Securities investments.

The Company reported that during the month of October 2008, its Auction Rate Securities were repurchased at their full US$3M par value, by the custodian of these investments, as part of a repurchase arrangement with that custodian. The company does not expect to incur any costs in connection with this repurchase arrangement, as it was based on a settlement arrangement between the custodian and the US authorities. The company expects to report one-time income of $1.4M as a result of this arrangement in its financial reports for the fourth quarter of 2008.

The Company also reported that overall cash reserves at the end of the third quarter of 2008, including the recovery of these investments, were approximately $21M. The Company will provide more details in its third quarter 2008 results release and conference call scheduled for November 5, 2008.

For more information http://www.nova.co.il.

SOURCE: Nova Measuring Instruments Ltd.