Tower Semiconductor Announces Unique Internship Program for High School Students...

Tower Semiconductor Announces Unique Internship Program for High School
Students in Israel
MIGDAL HA'EMEK, Israel, June 24 /PRNewswire-FirstCall/ --

- Fastest Growing Pure-Play Foundry Seeks Increased Diversity and
Untapped Talent From Population Underutilized in Israel's High Tech
Industry

- Program Endorsed by The Israel Corp., Israel's Largest Holding Company
and Tower's Largest Shareholder, and Driver of Various Community
Outreach Programs

Tower Semiconductor, Ltd. (Nasdaq: TSEM, TASE: TSEM), a leading global
specialty foundry, today announced a new internship program offered to
graduating High School students in Israel to increase the diversity of the
company's employee base and tap into underutilized human resources. The
internship program is part of its community outreach program aimed at the
Northern part of the country. Tower initiated outreach to the top Math and
Physics students at the Almutran High School in Nazareth, chosen due to its
academic excellence and the diversity among its students base. Several
graduating students will be selected each year for summer internships prior
to and while attending university. The high-tech industry is a key driver for
the economy in Israel, and youth education and involvement in this industry
makes a positive contribution to the community and future technological
developments.
"We believe that it is highly important to mentor these students and give
back to the community by offering a valuable hands-on experience at an early
stage in their career training," said Russell Ellwanger, CEO of Tower. "We
are committed to technical excellence and strive to be the best. As such, we
encourage diversity in our workplace and feel this internship program will be
advantageous for the students, the company and the community at large."
Tower, the fastest growing global specialty foundry has, in the past
three years, outgrown the semiconductor industry's median by a factor of
seven. To increase diversification in the company's personnel, the internship
program will focus on Arab students. The Arab population in Israel
constitutes 20% of the general population, and only 1-2% of the high tech
personnel. This internship program is meant to help bridge this gap and
constitutes a step toward more balanced demographics in this specific
marketplace.
The Israel Corporation Ltd., Israel's largest holding company and Tower's
largest shareholder with more than $200 million cumulative investments,
drives various community outreach programs and places special emphasis on the
Arab population in Israel. "We are pleased that Tower is offering this
extraordinary opportunity to a segment of our population that is not
sufficiently visible in the high-tech industry. I am confident that this
internship program will serve as an important source of practical training to
help both the students and the company attain their full potential," said
Idan Ofer, Israel Corp. Chairman. "This program falls well in line with our
other community outreach programs, to which we allocate significant financial
and human resources, such as support in various educational activities and
special education schools in addition to healthcare, scientific and cultural
projects."
Headmaster at Almutran High School, Father Shoufani, said, "We are
honored to take part in Tower's new internship program and the students are
excited for the chance to gain first hand experience working at such a noted
company. Tower has a strong reputation in northern Israel, being the largest
private employer in this region with solid reported growth over the past few
years. This program has created great enthusiasm among our students as it
gives them an amazing platform to acquire essential skills and practice. The
opportunity for exposure to real world circumstances is indispensable to
their progress and future career advancement and Tower is the best place for
them to get direct know how in this industry."
About Tower Semiconductor, Ltd. and Jazz Semiconductor, Inc.
Tower Semiconductor Ltd. (NASDAQ: TSEM, TASE: TSEM) is a pure-play
independent specialty wafer foundry and its fully owned U.S. subsidiary Jazz
Semiconductor, Inc., is a leader in Analog-Intensive Mixed-Signal (AIMS)
foundry solutions. Tower and Jazz manufacture integrated circuits with
geometries ranging from 1.0 to 0.13-micron and provide complementary
technical services and design support. In addition to digital CMOS process
technology, Tower offers advanced mixed-signal and RF CMOS, Power Management,
CMOS image-sensor, non-volatile memory technologies and Flash MTP and OTP
solutions. Jazz's comprehensive process portfolio of modular AIMS
technologies includes RFCMOS, Analog CMOS, Silicon and SiGe BiCMOS, SiGe
C-BiCMOS, MEMS, Power CMOS and High Voltage CMOS. To provide world-class
customer service, Tower maintains two manufacturing facilities in Israel;
Jazz maintains a fab in the U.S. and additional manufacturing capacity is
available in China through partnerships with ASMC and HHNEC. For more
information, please visit http://www.towersemi.com and
http://www.jazzsemi.com.
Safe Harbor Regarding Forward-Looking Statements
This press release includes forward-looking statements, which are subject
to risks and uncertainties. Actual results may vary from those projected or
implied by such forward-looking statements. A complete discussion of risks
and uncertainties that may affect the accuracy of forward-looking statements
included in this press release or which may otherwise affect Tower's and
Jazz's business is included under the heading "Risk Factors" in Tower's most
recent filings on Forms 20-F, F-3, F-4 and 6-K, as were filed with the
Securities and Exchange Commission (the "SEC") and the Israel Securities
Authority and Jazz's most recent filings on Forms 10-K and 10-Q, as were
filed with the SEC. Tower and Jazz do not intend to update, and expressly
disclaim any obligation to update, the information contained in this release.
Company Contact:
Noit Levi
+972-4-604-7066
noitle@towersemi.com

SOURCE Tower Semiconductor Ltd

Company Contact: Noit Levi, +972-4-604-7066, noitle@towersemi.com