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Aquest and Gores Confirm Proposal to Acquire Asyst Technologies

SUNNYVALE, Calif. and LOS ANGELES, July 17 PRNewswire — Aquest Systems Corp. today confirmed that on July 9th they submitted a proposal to Asyst Technologies, Inc. to acquire the company for $6.50 per share in cash and that Asyst and Aquest met on July 15th with respect to such proposal. In response to the July 15th follow-up letter to Aquest from Asyst, and Asyst's related July 16th press release, Aquest and The Gores Group, LLC are jointly releasing the following letter.

July 17, 2008 Dr. Stephen S. Schwartz President & Chief Executive Officer, Chairman of the Board Asyst Technologies, Inc. 46897 Bayside Parkway Fremont, CA 94538 Re: Proposal to Acquire Asyst Technologies, Inc. (\"Asyst\") Dear Steve:

Thank you for your July 15, 2008 letter. We are happy to hear that you and the Asyst board are prepared to move forward with discussions regarding our proposal. Each of us, together with Aquest Systems, Corp's ("Aquest") current investors, are enthusiastic about proceeding with due diligence and engaging in discussions with respect to Aquest's non-binding proposal to acquire Asyst for $6.50 per share in cash. We believe the market's reaction to your disclosure of Aquest's July 9, 2008 proposal supports the fact that your institutional and other market investors find our proposal attractive.

In your July 15, 2008 letter, you asked various questions regarding our proposed capital structure for the combined Asyst/Aquest entity. Based on our limited due diligence to date, neither we nor any additional partners we choose to include in this transaction, can provide definitive answers at this stage. However, each of us is pleased to confirm the following:

— Aquest hereby reiterates that it is highly confident in its ability to fund and close the proposed transaction. Funding sources would include Aquest's current investors (Menlo Ventures, Walden International and Global Catalyst Partners), The Gores Group, LLC and potentially other third parties who have expressed interest in participating in the proposed transaction;

— The Gores Group, LLC, a private equity firm managing committed equity capital of over $1.7 billion, hereby confirms its interest in participating in the proposed transaction along side Aquest and other investors;

— In connection with the proposed transaction, Asyst's debt, stock options and other equity equivalents would be treated in accordance with their terms.

We are excited about the prospect of moving forward on the proposed transaction. Of course, progress depends on Asyst's cooperation, including with respect to customary due diligence.

We look forward to meeting very soon to move forward expeditiously with our discussions.

Sincerely, AQUEST SYSTEMS CORP. By: __________________________ Name: Mihir Parikh Title: President and Chief Executive Officer THE GORES GROUP, LLC By: __________________________ Name: Scott M. Honour Title: Senior Managing Director cc: Jordan W. Katz, Managing Director, The Gores Group, LLC Aquest Board of Directors: H. Dubose Montgomery, Founder and MD, Menlo Ventures Lip-Bu Tan, Founder and Chairman, Walden International Koji Osawa, Co-founder and Managing Principal, Global Catalyst Partners Gidu Shroff, Former Corp. VP, Intel Corp.

About Aquest Systems

Founded in 2004, Aquest Systems is the pioneer of No-Wait-Manufacturing(SM) (NWM) automation technologies for the worldwide semiconductor industry. A truly global company, Aquest employs a worldwide organization to efficiently leverage talent and resources in the United States, Japan, Taiwan and India. The company is privately held and headquartered in Sunnyvale, Calif. More information can be found at www.aquestsystems.com.

About The Gores Group, LLC

Founded in 1987, The Gores Group, LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, LLC has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group, LLC maintains offices in Boulder, Colorado, and London. For more information, please visit www.gores.com.

SOURCE Aquest Systems Corp.

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