TEXT-Tower Semi in compliance with Nasdaq minimum price

(The following was issued by Israel's Tower Semiconductor Ltd (TSEM.O) (TSEM.TA)):

Aug 27 - 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.