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                                                                    EXHIBIT 99.1

[VEECO LOGO]                            NEWS

Veeco Instruments Inc., 100 Sunnyside Boulevard, Woodbury, NY 11797
Tel. 516-677-0200 Fax 516-677-0380

FOR IMMEDIATE  RELEASE

CONTACT: DEBRA WASSER, VICE PRESIDENT OF INVESTOR RELATIONS, 516-677-0200, X1472

             VEECO INSTRUMENTS ANNOUNCES OFFERING OF $150 MILLION OF
                         CONVERTIBLE SUBORDINATED NOTES

Woodbury, NY, December 17, 2001 - Veeco Instruments Inc. (NASDAQ: VECO) today
announced its intention, subject to market and other conditions, to raise
approximately $150 million through a private offering of convertible
subordinated notes due 2008. The notes will have a term of seven years and will
be convertible at the option of the holder into the Company's common stock at a
price to be determined. The Company may also issue up to an additional $22.5
million of notes to cover overallotments in connection with the offering.

The Company intends to use the net proceeds from the offering for general
corporate purposes, including capital expenditures and possible future
acquisitions.

This announcement is neither an offer to sell nor a solicitation of an offer to
buy any of these securities. This press release is being issued pursuant to and
in accordance with Rule 135c under the Securities Act of 1933. The notes and the
common stock issuable upon conversion of the notes to be offered have not been
registered under the Securities Act of 1933, as amended, or applicable state
securities laws, and are being offered only to qualified institutional buyers in
reliance on Rule 144A under the Securities Act. Unless so registered, the notes
and common stock issued upon conversion of the notes may not be offered or sold
in the United States except pursuant to an applicable exemption from the
registration requirements of the Securities Act and applicable state securities
laws.

Veeco Instruments Inc. is a worldwide leader in process equipment and metrology
tools for the optical telecommunications/wireless, data storage, semiconductor
and research markets. Manufacturing and engineering facilities are located in
New York, California, Colorado, Arizona and Minnesota. Global sales and service
offices are located throughout the United States, Europe, Japan and Asia
Pacific. Additional information on Veeco can be found at http://www.veeco.com.

TO THE EXTENT THAT THIS NEWS RELEASE DISCUSSES EXPECTATIONS ABOUT MARKET
CONDITIONS OR ABOUT MARKET ACCEPTANCE AND FUTURE SALES OF VEECO'S PRODUCTS, OR
OTHERWISE MAKES STATEMENTS ABOUT THE FUTURE, SUCH STATEMENTS ARE FORWARD-LOOKING
AND ARE SUBJECT TO A NUMBER OF RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL
RESULTS TO DIFFER MATERIALLY FROM THE STATEMENTS MADE. THESE FACTORS INCLUDE THE
CYCLICAL NATURE OF THE OPTICAL TELECOMMUNICATIONS, DATA STORAGE AND
SEMICONDUCTOR INDUSTRIES, RISKS ASSOCIATED WITH THE ACCEPTANCE OF NEW PRODUCTS
BY INDIVIDUAL CUSTOMERS AND BY THE MARKETPLACE, AND OTHER FACTORS DISCUSSED IN
THE BUSINESS DESCRIPTION AND MANAGEMENT'S DISCUSSION AND ANALYSIS SECTIONS OF
VEECO'S REPORT ON FORM 10-K AND ANNUAL REPORT TO SHAREHOLDERS.

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