RagingWire CEO joins Photronics' Board of Directors

SACRAMENTO, California
May 20, 2002

RagingWire Telecommunications, Inc., a leading provider of premium managed service solutions and information technology (IT) infrastructure, today announced that its CEO and founder, George Macricostas, has joined the board of directors at Photronics, Inc. (Nasdaq: PLAB), the world's largest and fastest growing sub-wavelength reticle solutions supplier.

“I am honored and pleased to be appointed to Photronics’ board of directors,” said Macricostas. “I am excited to play a strategic role in the company’s future growth and market position. With a successful and proven track record, Photronics has emerged from humble beginnings to the largest supplier of photomasks in the world. Historically, the company’s seasoned and dynamic management team has thrived even in the most adverse market conditions. I am confident that Photronics will maintain its momentum as it continues to outpace the competition in performance and market share.”

Macricostas has 15 years of technical and business management experience in business operations and information technology. During RagingWire’s first year of operations, Macricostas and his team successfully contracted with FORTUNE 1000 clients such as Hitachi Data Systems, Flextronics International, and Photronics. Along with making key business decisions, his day-to-day management responsibilities at RagingWire include overseeing the company’s finance, human resources, and administration functions. Macricostas graduated from Western Connecticut State University with a bachelor's degree in business administration and industrial management.

About RagingWire
RagingWire Enterprise Solutions (RES) provides highly custom and flexible IT solutions that accommodate the business needs of large, data-intensive enterprise companies. RES operates a reliable and secure Enterprise Data CenterSM facility engineered to provide "five nines" (99.999%) availability and highly scalable power and cooling in conjunction with managed IT solutions that maintain Fortune 1000 and Fortune 500 companies mission-critical back-office IT systems. RES enables its clients to reduce their operating costs, speed time to market, and focus on their core competencies. For more information about RES, access www.ragingwire.com.

About Photronics
Photronics is the world's leading and fastest growing manufacturer of photomasks. Photomasks are high precision quartz plates that contain microscopic images of electronic circuits. A key element and enabling technology in the manufacture of semiconductors, photomasks are used to transfer circuit patterns onto semiconductor wafers during the fabrication of integrated circuits. They are produced in accordance with circuit designs provided by customers at strategically located manufacturing facilities in North America, Europe and Asia.