NVMI Nova Ltd

Dror David to Take Over as CFO, Chai Toren Resigns as CFO After 10 Years With Nova REHOVOT, Israel, August 29 /PRNewswire-FirstCall/ -- Nova Measuring Instruments Ltd. (NASDAQ:NVMI), the market leader in integrated measurement and process control for the semiconductor industry, today announced Dror David is to assume the position of Chief Financial Officer in November 2005. This follows the resignation of Chai Toren in order to pursue other opportunities. Mr. Toren has agreed to remain with the company during a transition period. Mr. Toren has been with Nova Measuring Instruments' for ten years, serving as its Finance Manager, Operations Manager and after its initial public offering, as its Chief Financial Officer. He successfully helped steer the company from its early days as a start-up company to a successful publicly listed company. Through his time at Nova, Mr. Toren also played a major role in the success of Nova's IPO, was responsible for maintaining relations with the investing community, and most recently he was leading the company's efforts into compliance with the Sarbanes-Oxley requirements. Dror David will serve in the position of Chief Financial Officer after a 4-month transition period. Mr. David has been with Nova Measuring Instruments' since 1998, in the positions of Controller, Operations Manager and currently serves as Finance Manager & Corporate Secretary. Before joining the company, Mr. David worked as an Audit Manager for Deloitte & Touche, one of the top-4 accounting firms. Chai Toren commented, "I have thoroughly enjoyed my time with Nova and I believe that I am leaving behind a strong company, that is well positioned with the right strategy, right technology and right people for great business success. After ten years, I am very much looking forward to pursuing new challenges and opportunities. I have worked closely with Dror for many years and wish him every success in his new position as CFO." Dr. Giora Dishon, Chief Executive Officer, thanked Chai for his great contribution to the company over the years and said, "Chai has been an exceptional CFO and we will miss him. We are very pleased that he has chosen to stay to ensure a smooth transition to his replacement, Dror David, also a long-time veteran of Nova. Dror's strong accounting background and experience both prior to and within Nova, makes him the ideal candidate for the job." Mr. Dishon concluded, "We wish Chai every success in the future and thank him for his long service to Nova's success." About Nova: Nova Measuring Instruments Ltd. develops, designs and produces integrated process control systems in the semiconductor manufacturing industry. Nova provides a broad range of integrated process control solutions that link different semiconductor processes and process equipment. The Company's website is http://www.nova.co.il/ Company Contact: Investor relations Contacts: Dror David, VP Finance Ehud Helft / Kenny Green Nova Measuring Instruments Ltd. Gelbart Kahana Tel: +972-8-938-7505 Tel: +1-866-704-6710 E-mail: E-mail : http://www.nova.co.il/ Kenny Green, Gelbart Kahana, Tel: +1-866-704-6710 E-mail : Ehud@gk-biz.com Kenny@gk-biz.com DATASOURCE: Nova Measuring Instruments, Ltd CONTACT: Company Contact: Dror David, VP Finance, Nova Measuring Instruments Ltd. Tel: +972-8-938-7505 E-mail: http://www.nova.co.il/ Investor relations Contacts: Ehud Helft x

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