Exhibit 99

Ibis Technology Announces Public Offering

    DANVERS, Mass.--(BUSINESS WIRE)--Oct. 17, 2003--Ibis Technology
Corporation (Nasdaq NM: IBIS), the leading provider of SIMOX-SOI
implantation equipment and SIMOX-SOI wafers to the worldwide
semiconductor industry, today announced the public offering of 870,000
shares of its common stock. The offering is being underwritten by CDC
Securities. Ibis has granted CDC Securities an option to purchase up
to an additional 130,000 shares of common stock to cover
over-allotments, if any. All of the shares are being offered by Ibis
through a prospectus supplement pursuant to Ibis' shelf registration
statement, which was declared effective by the Securities Exchange
Commission on October 3, 2003. The offering is expected to close
today.
    CDC Securities is a subsidiary of CDC IXIS Capital Markets North
America Inc. which is the U.S.-based capital markets arm of AAA-rated
French bank CDC IXIS.
    The Company intends to use the net proceeds from the offering of
the shares to fund research and development, capital expenditures,
working capital and general corporate purposes.
    Commenting on this public offering, Martin Reid, President and
Chief Executive Officer stated, "We are pleased that CDC Securities
has the capability to expand our institutional investor base with
quality investors here in the U.S., as well as in Europe."
    This press release does not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state. Offers and sales of the shares may
only be made by delivery of a prospectus for the offering. Copies of
the final prospectus relating to the offering may be obtained from CDC
Securities at 590 Madison Avenue, Suite 2500, New York, NY 10022 or by
calling (212) 891-5844.
    "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: Matters discussed in this press release, including
any discussion of or impact, expressed or implied, on the Company's
anticipated operating results are based upon management's current
expectations that are subject to risks and uncertainties that could
cause actual results to differ materially from those set forth in or
implied by forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended. The Company's operating
results may be affected by many factors, including but not limited to
product demand and market acceptance risks, the impact of competitive
products, technologies and pricing, general economic conditions,
future changes in export laws or regulations, the cyclical nature of
the semiconductor industry and other risks detailed from time to time
in the Company's filings with the Securities and Exchange Commission,
including but not limited to the Company's Form 10-K for the fiscal
year ended December 31, 2002.

    About Ibis Technology

    Ibis Technology Corporation is the leading provider of SIMOX-SOI
(Separation-by-IMplantation-of-OXygen Silicon-On-Insulator) equipment
and wafers for the worldwide semiconductor industry. The company is
headquartered in Danvers, Massachusetts and maintains an office in
Aptos, California. Ibis Technology is traded on the Nasdaq National
Market under the symbol IBIS. Information about Ibis Technology
Corporation and SIMOX-SOI is available on Ibis' World Wide Web site at
www.ibis.com.

    CONTACT: Ibis Technology Corporation
             Debra L. Nelson, 978-777-4247
             or
             For Ibis Technology
             IR/PR Counsel:
             Bill Monigle, 603-424-1184