Axcelis Provides Updated Information and Conference Call Timing for Third Quarter 2007

Axcelis Technologies, Inc. (Nasdaq: ACLS) today revised its previously announced guidance for the third quarter ended September 30, 2007. Axcelis expects revenues to be slightly below the $110 million to $120 million range previously provided. Gross margins are also forecasted to be lower than anticipated due to timing of shipments and product mix. Additionally, Axcelis has decided to cease future product development in rapid thermal processing (RTP) and curing to focus on profitable growth within the company’s core ion implant and dry strip businesses. Net loss per share for the quarter is expected at $0.08, of which $0.05 is attributable to a charge for impairment of goodwill relating to these products. The company anticipates that continuing market softness is likely to put pressure on its base business into the fourth quarter of 2007. Despite unfavorable market conditions, Axcelis is making progress with its Optima program. The company continues to receive positive feedback from customers on Optima HD tool performance and expects that volume orders will follow as industry conditions improve. A conference call to discuss third quarter results for 2007 and to provide guidance for the fourth quarter of 2007 is scheduled for Thursday November 1, 2007, beginning at 5:00 pm ET. The call will be available to interested listeners via an audio webcast that can be accessed through Axcelis’ home page at www.axcelis.com, or by dialing 1-800-479-1628 (1-719-457-2729 outside North America). Participants calling into the conference call will be requested to provide the company name: Axcelis Technologies, the conference leader: Stephen Bassett, and pass code: #3354400. A webcast replay will be available from 8:00 pm ET on November 1, 2007 until 5:00 pm ET December 1, 2007. Safe Harbor Statement This document contains forward-looking statements under the SEC safe harbor provisions. These statements, which include our guidance for future financial performance, are based on management’s current expectations and should be viewed with caution. They are subject to various risks and uncertainties, many of which are outside the control of the Company, including the timing of orders and shipments, the conversion of orders to revenue in any particular quarter, or at all, our ability to implement successfully our profit plans, the continuing demand for semiconductor equipment, relative market growth, continuity of business relationships with and purchases by 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, political 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 documents filed from time to time with the Securities and Exchange Commission. 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 and cleaning systems. Axcelis also licenses its 50% owned joint venture, SEN Corporation, an SHI and Axcelis Company, to manufacture and sell certain implant products in Japan. The company's Internet address is: www.axcelis.com.