IVIS Icos Vision Systems Corp (MM)

ICOS Vision Systems Corporation NV (Nasdaq and Euronext: IVIS), a leading supplier of inspection solutions for the semiconductor industry, today announced that the board of directors has appointed Geert Noels as an advisor to the board and its committees, effectively immediately. The board will propose the addition of Mr. Noels to the board of directors at the next general assembly of shareholders, scheduled to be held in May 2007. Mr. Noels is Chief Economist and Partner of Petercam, a leading independent financial institution in the Benelux, who possesses in-depth knowledge of and extensive experience in the capital markets. He began his career at Coopers & Lybrand and worked for the Flemish Economic Association (VEV), before joining Petercam in 1994. Mr. Noels also serves as an advisor to several public institutions, key decision makers and business leaders, and is a well-respected author in the national and international press on the topics of asset and debt management, economics and finance. "In evaluating the size and composition of our board, our nominating committee recommended that we add an independent director with the stature of Mr. Noels," said Jos Verjans, Chairman of the Board. "Mr. Noels will serve in an advisory role until we propose his addition to the board at the first general assembly of shareholders. We look forward to benefiting from his expertise, guidance and contribution to ICOS's growth and welcome him to the board." Mr. Noels said, "For about 25 years, ICOS has consistently executed a growth strategy of sustaining market leadership, increasing penetration of established market segments and expanding addressable market. Sustained investment in new product development, supported by a flexible operating model, has enabled ICOS to strengthen its competitive position throughout semiconductor industry cycles. It is both an honor and a privilege for me to join the board of this esteemed and successful company." About ICOS Vision Systems ICOS designs and manufactures inspection equipment for the semiconductor packaging industry. It is a world-leading supplier of equipment for the final visual control of chips before they are used in various applications, such as PC's, cars or portable phones. ICOS' systems perform two- and three-dimensional (2D and 3D) metrology and inspection as part of the final visual quality control step in the manufacturing of chips, wafers, flexible tapes for flat panel displays, sockets, substrates and solar cells. Aside from its complete systems, ICOS also offers inspection modules for integration in other equipment. ICOS is headquartered in Heverlee, Belgium and has R&D centers in Belgium, Germany and Hong Kong and sales and support offices in Japan, the USA, Singapore, Hong Kong and Korea and production facilities in Belgium, Hong Kong and China. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Certain matters discussed in this press release, such as statements about ICOS' plans, objectives, expectations and intentions, are forward-looking statements. These statements include, without limitation, statements regarding the anticipated contributions of Mr. Noels to ICOS, and ICOS' growth and growth strategy. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, without limitation: risks related to ICOS' dependence on the cyclical semiconductor and electronic assembly industries; risks relating to the conduct of the business worldwide; uncertainties inherent in the development of new products and the enhancement of existing products, including technical risks and cost overruns and delays; the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated; ICOS' ability to predict accurately the demand for its products, and products under development, and to develop strategies to address its markets successfully; risks relating to intellectual property including the inherent uncertainty of law suits alleging patent infringement that have been filed against ICOS; technical innovations that could render products marketed or under development by ICOS obsolete; competition; and other risks referred to in our most recent annual report on form 20-F and other filings with the Securities and Exchange Commission. ICOS cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. ICOS expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in ICOS' expectations or any change in events, conditions or circumstances on which any such statement is based. Further discussion of risk factors is also available in ICOS' SEC filings. ICOS Vision Systems Corporation N.V. can be found on the World Wide Web at www.ICOS.be