EXHIBIT 99.1



                              [INTEVAC LETTERHEAD]


FOR IMMEDIATE RELEASE                       CONTACT:      Charley Eddy, CFO
                                                          (408) 496-2259
                                                          ceddy@intevac.com


INTEVAC COMPLETES SALE OF ITS RAPID THERMAL PROCESSING BUSINESS TO PHOTON
DYNAMICS

Santa Clara, California, November 4, 2002 - Intevac, Inc. (Nasdaq: IVAC), today
completed the sale of its rapid thermal processing capital equipment ("RTP")
business to Photon Dynamics, Inc. of San Jose, California. (Nasdaq: PHTN).
Photon Dynamics paid $20 million in cash and assumed certain liabilities. $2
million of the cash payment will be held in escrow for one year. Release of the
escrow is subject to a number of conditions. Additionally, Photon Dynamics will
hire 23 personnel from Intevac and relocate them to Photon Dynamics' San Jose,
California facility.


ABOUT INTEVAC

Intevac is developing revolutionary intensified imaging products that address
potentially large commercial and military markets. The Company also produces
sophisticated manufacturing equipment used in the manufacture of high technology
products and is leveraging its equipment expertise to enable cost-effective
production of new intensified imaging products. Intevac's intensified imaging
products are high-speed electro-optical devices that detect light with
extraordinary sensitivity. The Company's proprietary technology makes possible
products such as LIVAR(R), a long-range target identification system, and video
cameras with night vision capability. Intevac's equipment products are designed
to deposit or modify highly engineered thin-films of material on a variety of
substrates. These systems are designed for continuous high volume manufacturing
of precision thin-film products such as flat panel displays, magnetic media for
hard drives and extreme-low-light-level cameras. For more information call
408-986-9888 or visit the Company's website at www.intevac.com.


LIVAR(R) is a registered trademark of Intevac.