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EXHIBIT 99.2
FOR IMMEDIATE RELEASE (Draft)
News Release
CREDENCE CONTACT: CREDENCE PUBLIC RELATIONS CONTACT:
----------------- ----------------------------------
Dennis Wolf Connie Graybeal
Executive Vice President and CFO Credence Systems Corporation
Credence Systems Corporation 510.623.4774 or 510.623.2524 fax
510.623-4747 or 510.623-2591 fax E-mail: [email protected]
E-mail: [email protected]
CREDENCE ANNOUNCES PLANNED REDEMPTION OF 5-1/4% CONVERTIBLE
SUBORDINATED NOTES DUE 2002.
FREMONT, Calif., August 10, 2000--Credence Systems Corporation (Nasdaq: CMOS), a
leading manufacturer of automatic test equipment (ATE) for the worldwide
semiconductor industry, today announced that its Board of Directors has approved
the redemption, on September 20, 2000, of all of its outstanding 5-1/4%
Convertible Subordinated Notes due 2002. On that date, the notes will be
redeemed at a redemption price equal to 102.10% of their principal amount plus
accrued interest from September 15, 2000 to September 20, 2000. The notes are
convertible into shares of common stock until 5:00 p.m. Eastern Standard Time on
September 18, 2000 at a conversion price of $34.575 per share. On August 9,
2000, $96,021,000 principal amount of notes was outstanding. The closing price
of Credence Systems Corporation's common stock on August 9, 2000 was $40.3125
($40 5/16) per share.
About Credence Systems Corporation
Credence Systems Corporation is a leader in the manufacture of automatic test
equipment (ATE) for the global semiconductor industry. Credence offers a wide
range of products with test capabilities for digital, mixed-signal and memory
semiconductors.
Utilizing its patented CMOS technologies, Credence products are designed to meet
the strict time-to-market and cost-of-ownership requirements of its customers.
Headquartered in Fremont, Calif., the company maintains advanced production and
design facilities in Hillsboro, Oregon. Credence, an ISO 9001 certified
manufacturer, is listed on the Nasdaq National Market under the symbol CMOS.
More information is available at http://www.credence.com.
Note to Editors: Credence and Credence Systems are trademarks of Credence
Systems Corporation. Other trademarks that may be mentioned in this release are
the intellectual property of their respective owners.
