"We are excited to bring this technology to volume production in Q4 this year and in so doing to be the first foundry with MRAM capability. At two billion program/erase cycles with one billion read at less than 35nsec on a 4Mb product, this technology outperforms any other available MRAM solution in the market,” said Russell Ellwanger, CEO TowerJazz. “We have a long history and much expertise with NVM at TowerJazz having co-developed the initial Saifun NROM technology as well as organically holding strong NVM IP blocks such as Y-flash, a zero mask adder mid-size NVM. The Y-Flash is a powerful enabler that is in volume production with many of our customers and has been licensed to the largest in our industry. With this background, our team is qualified and realistic to state that the MRAM activity and the achievements with Bertrand and his Crocus team are revolutionary and offer innovative solutions to a number of our respective customers.”Crocus’ proprietary MRAM technology solves all the known problems encountered in earlier MRAM developments. The company’s technology has demonstrated its stability, reliability, data retention, endurance, and scalability, while exhibiting high speed, low power dissipation, and excellent resistance to external perturbation. About Magnetic Random Access Memory (MRAM)MRAM’s unique characteristics make it particularly suitable to a wide variety of telecommunication, networking, computing and handheld applications currently using SRAM and/or flash memory technology. It is the only proven new memory technology providing non-volatility, unlimited-write-endurance, high-density, and symmetrical high-speed read & write. It is particularly well-suited to applications requiring high data reliability and high performance, and has the unique potential of becoming the universal embedded memory technology for systems-on-chip devices. About Crocus TechnologyCrocus Technology is a leading developer of a magnetically enhanced semiconductor technology for mobile security, embedded microcontrollers and applications requiring extreme operating conditions. Crocus’ breakthrough proprietary Magnetic Logic Unit™ (MLU™) technology offers many advantages for applications demanding high speed, secure and robust performance at lower cost. In embedded security, Crocus’ tamper-resistant MLUs read and write faster than flash memory and fit in a smaller footprint. Available in SIM and other embedded form factors, MLUs bring unprecedented levels of secure authentication for mobile payments, access control and other critical data transactions needing high-level security. In the embedded space Crocus' MLUs are effective in replacing most existing memory blocks with the added ability of operating in rugged environments, notably in high temperature electronics (400°C). Founded in 2004, Crocus is led by a senior management team with high-level industry experience from Motorola, AMD, Intel and Gemalto. It has US operations in Santa Clara, California and offices in Grenoble and Gardanne, France. For more information, please visit: http://www.crocus-technology.com/. About TowerJazzTower Semiconductor Ltd. (NASDAQ: TSEM)(TASE: TSEM), its fully owned U.S. subsidiary Jazz Semiconductor Ltd., and its fully owned Japanese subsidiary TowerJazz Japan, Ltd., operate collectively under the brand name TowerJazz, the global specialty foundry leader. TowerJazz manufactures integrated circuits, offering a broad range of customizable process technologies including: SiGe, BiCMOS, Mixed-Signal/CMOS, RFCMOS, CMOS Image Sensor, Power Management (BCD), and MEMS capabilities. TowerJazz also provides a world-class design enablement platform that enables a quick and accurate design cycle. In addition, TowerJazz provides (TOPS) Technology Optimization Process Services to IDMs and fabless companies that need to expand capacity. TowerJazz offers multi-fab sourcing with two manufacturing facilities in Israel, one in the U.S., and one in Japan. For more information, please visit www.towerjazz.com. Safe Harbor Regarding Forward-Looking StatementsThis 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 TowerJazz’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, respectively. Tower and Jazz do not intend to update, and expressly disclaim any obligation to update, the information contained in this release.