Tower Semiconductor Regains Compliance With $1.00 Nasdaq Minimum Closing Bid Price

Tower Semiconductor Regains Compliance With $1.00 Nasdaq Minimum Closing Bid
Price
Completed the Requirement on August 25, 2009, and Received a Letter From
Nasdaq Confirming it Regained Compliance

MIGDAL HA'EMEK, Israel, August 27 /PRNewswire-FirstCall/ -- Tower
Semiconductor, Ltd. (Nasdaq: TSEM, TASE: TSEM), a leading global specialty
foundry, today announced that it has received a letter dated August 26, 2009
from the Listing Qualifications Department of the NASDAQ Stock Market
(Nasdaq), according to which Nasdaq confirmed that the Company has regained
compliance with the $1.00 minimum closing bid price requirement for continued
listing on The NASDAQ Global Market under Listing Rule 5450(a)(1) (formerly
Marketplace Rule 4450(a)(5)). Pursuant to Nasdaq's rules, the Company was
required to evidence a closing bid price of at least $1.00 per share for 10
consecutive trading days. Tower completed the requirement on August 25, 2009,
and the Company believes it currently meets all requirements for continued
listing on the Nasdaq Global Market.
The Company's ordinary shares continue to be listed on The NASDAQ Global
Market and its ticker symbol of TSEM remains unchanged.
About Tower Semiconductor, Ltd. and Jazz Semiconductor, Inc.
Tower Semiconductor Ltd. (NASDAQ: TSEM, TASE: TSEM) is a global specialty
foundry leader and its fully owned subsidiary Jazz Semiconductor, a Tower
Group Company 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 industry leading design
enablement tools to allow complex designs to be achieved quickly and more
accurately. Tower and Jazz offer a broad range of process technologies
including Digital, Mixed-Signal and RFCMOS, HV CMOS, Power Management,
Non-Volatile Memory (NVM), Embedded NVM, MEMS, and CMOS Image Sensors. 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.
Contact:

Tower Semiconductor
Noit Levi, +972-4-604-7066
noitle@towersemi.com

or:

GK Investor Relations
Kenny Green, +1-646-201-9246
info@gkir.com

SOURCE Tower Semiconductor Ltd

Contact: Tower Semiconductor, Noit Levi, +972-4-604-7066, noitle@towersemi.com
or: GK Investor Relations, Kenny Green, +1-646-201-9246, info@gkir.com