Tower Semiconductor Ltd. Pre-Announces Q4 and 2003 Expected Results Jan 27, 2004

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Integrated circuits maker and foundry Tower Semiconductor Ltd., headquartered in Migdal Haemek, Israel, has announced expected results for the fourth-quarter and year ended Dec. 31, 2003.

Sales for the fourth quarter of 2003 are expected to be approximately in the range of U.S. $19.5 million and $20 million. Fourth-quarter loss is expected to be approximately in the range of $45 million and $47 million.

Sales for the year ended Dec. 31, 2003 are expected to be approximately in the range of $61.1 million and $61.6 million. Loss for the year ended Dec. 31, 2003 is expected to be approximately in the range of $113 million and $115 million.

Tower expects to release its fourth-quarter and year-end results on Monday, Feb. 2, 2004.

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