AXCELIS TECHNOLOGIES NAMES WALTER CLASS FELLOW

Eight other technologists recognized in Distinguished Technologists Program


BEVERLY, Mass. — October 16, 2002 — Axcelis Technologies, Inc. (NASDAQ: ACLS), this week recognized nine technologists for their contributions to the company in its 2002 Fellows and Distinguished Technologists program. The company named Walter Class an Axcelis Fellow, and selected Michael Ameen, Michael Graf, Peter Kellerman, Andy Ray, Leonard Rubin, Palanikumar Sakthivel, Aseem Srivastava and Carlo Waldfried as Distinguished Technologists.

"Axcelis' technologists deserve the highest praise. Because of their contributions, we are able to fulfill our promise as a technology leader. The Axcelis Fellows and Distinguished Technologist's program is one way we can recognize their outstanding efforts," said John Poate, Axcelis' chief technology officer. "We are especially proud to name Walter Class an Axcelis Fellow, the highest technical award and accolade in the company. He is internationally recognized for his work on semiconductor industry roadmaps, and his superb knowledge of IC processing and factory physics has been a significant factor in ensuring that Axcelis delivers the technology that keeps our customers ahead of the curve."

Class is the second technologist to be named an Axcelis Fellow. A 16 year veteran of the company, Class is the strategic marketing director for Axcelis. He holds a doctorate in materials science from Columbia University of New York, a master's degree in materials science from the University of Illinois and a bachelor's degree in metallurgical engineering from New York University.

The Axcelis Fellows and Distinguished Technologists program was initiated last year to applaud the contributions of exceptional technologists at Axcelis. All recipients must strive to promote innovation through mentorship, team leadership and customer service excellence. Nominees are selected by their peers and undergo a rigorous review process by members of Axcelis' Roadmap Council and executive management team.

About Axcelis Technologies, Inc.
Axcelis Technologies, Inc., headquartered in Beverly, Massachusetts, provides innovative, high-productivity solutions for the semiconductor industry. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation, rapid thermal processing, and cleaning and curing systems. Axcelis Technologies has key technology centers in Beverly, Massachusetts, and Rockville, Maryland as well as in Toyo, Japan through its joint venture, SEN. The company's Internet address is: www.axcelis.com.

Forward-Looking Statements
This press release includes certain statements, known as "forward-looking statements," which express the current expectations of Axcelis management. Certain risks and uncertainties could cause actual results to differ materially from those currently anticipated as expressed in this press release. Among other factors, such risks and uncertainties include the continuing demand for semiconductor equipment, relative market growth, continuity of business relationships with major customers, competitive pressure on sales and pricing, increases in material and other production costs that cannot be recouped in product pricing and global economic and financial conditions. These risks and other risk factors relating to Axcelis are described more fully in the most recent Form 10-K filed by Axcelis and in other filings from time to time with the Securities and Exchange Commission.

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Contacts

Company Contact:
Maureen Hart
Axcelis Technologies, Inc.
Tel: (978) 787-4266
Fax: (978) 787-4275
maureen.hart@axcelis.com

Investor Contact:
Mark Namaroff
Axcelis Technologies, Inc.
Tel: (978) 787-4000
Fax: (978) 787-4212
investor.relations@axcelis.com

Agency Contact:
Stacy Grisinger
The Loomis Group Inc.
Tel: (617) 638-0022
Fax: (617) 638-0033
grisingers@loomisgroup.com