SAN DIEGO, July 12 /PRNewswire/ -- Cymer, Inc. (Nasdaq: CYMI), the world's leading supplier of excimer light sources used in semiconductor manufacturing, today announced that William A. Angus, III, will step down as the company's chief financial officer effective December 31, 2001. His position will be filled by Nancy J. Baker, 39, who currently serves as Cymer's vice president of finance and treasurer. Angus will continue to serve as Cymer's corporate secretary until his retirement at the end of 2002.

Commenting on the announcement, Bob Akins, Cymer chairman and chief executive officer, noted, "We believe in leveraging the high caliber of management talent available to us internally whenever possible, to ensure the orderly succession of key senior management. This planned transition will allow the smooth transfer of duties from Bill to Nancy over a six-month period."

Akins continued, "Bill has been an integral member of Cymer's executive team for the past 11 years. During this time, he has been instrumental in helping Cymer grow from a small, entrepreneurial company to a global leader in the semiconductor capital equipment industry. During his tenure here, Bill has provided the company with strong financial leadership and strategic guidance. Working closely with Nancy Baker, he has built a solid finance department and Cymer is fortunate to have had a CFO of Bill's caliber during these important growth years. We are also extremely pleased that he will remain with Cymer in the capacity of corporate secretary through 2002."

Akins added, "Nancy has worked closely with Bill and I over the last nine years, and is uniquely qualified to take on the duties of CFO. She has outstanding leadership and motivational skills, and a deep understanding of Cymer's business. She has the experience to enable her to develop in-depth financial strategies to support Cymer's drive to achieve its corporate goals. We look forward to working with Nancy in the coming years to help Cymer continue to grow, and deliver the best products and service to our customers, while enhancing shareholder value."

Angus led Cymer through its initial public offering and two subsequent public financings while serving as senior vice president and chief financial officer since February 1996. He joined the company in 1990 as vice president of finance and administration.

Baker has served as vice president, finance and treasurer since June 1998. During 2000, she headed the company's successful effort to implement a new ERP system, which was implemented in San Diego in only six months, and globally in only nine months. She served as director, corporate finance and treasurer from October 1996 to June 1998. She joined Cymer as corporate controller for worldwide operations in August 1992. Baker received a bachelor's degree in accounting from the University of Texas at Austin in 1985 and completed the Executive MBA Program at Harvard Business School in 1999.

Cymer, Inc. is the world's leading supplier of excimer laser illumination sources, the essential light source for deep ultraviolet (DUV) photolithography systems. DUV lithography is a key enabling technology, which has allowed the semiconductor industry to meet the exact specifications and manufacturing requirements for volume production of today's advanced semiconductor chips. Further information on Cymer may be obtained from the Company's SEC filings, the Internet at http://www.cymer.com or by contacting the company directly.

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SOURCE Cymer, Inc.

CONTACT: investors, Terry Slavin, Director, Corp. Communications & IR, of Cymer, Inc., 858-385-5232, or fax, 858-385-6090; or agency, Marie Labrie of MCA, 650-968-8900, or fax, 650-968-8990, for Cymer, Inc./