Exhibit 99.1

  Ibis Technology Announces Receipt of Order From a Leading Silicon
            Wafer Supplier for an i2000 Oxygen Implanter;
        Agreement Includes Option to Purchase Second Implanter

    DANVERS, Mass.--(BUSINESS WIRE)--Feb. 5, 2004--Ibis Technology
Corporation (Nasdaq NM: IBIS), a leading provider of SIMOX-SOI
implantation equipment and SIMOX-SOI wafers to the worldwide
semiconductor industry, today announced the receipt of an order for
one Ibis i2000 SIMOX implanter, with an option to purchase a second
i2000, from a leading international silicon wafer manufacturer.
    Martin J. Reid, president and chief executive officer of Ibis
Technology Corporation, said, "We are very pleased to have received
this order from a large silicon wafer manufacturer--an organization
known for its pioneering leadership in silicon wafer technology. Prior
to this order, a majority of oxygen implanter sales have been made to
a semiconductor chipmaker where the systems were to be used primarily
for research, process development and small-scale wafer production. We
believe this order from a wafer manufacturer indicates that our
SIMOX-SOI technology has taken another step forward in the
marketplace," said Reid. "We have long believed that when producing
large volumes of SOI wafers with thinner layers--top silicon and
buried oxide--SIMOX-SOI technology is a lower cost solution, and that
the world's wafer manufacturers would come to recognize the cost
efficiencies afforded by these implanters when producing the SOI
wafers needed by the chipmakers." Based on the receipt of this
purchase order, Ibis is in the process of finalizing arrangements with
a new service organization that will be located near the new i2000
installation. Ibis has also agreed to supply spare parts at this
location for both the Ibis 1000 and i2000 tools.
    The Ibis i2000 oxygen implanter was introduced in March 2002. This
third-generation implanter is a high-throughput, high-volume
production tool for manufacturing 200- and 300-millimeter SIMOX-SOI
wafers. The i2000 implanter's flexibility, automation and
operator-friendly controls allow this tool to produce a wide span of
SIMOX-SOI wafer products, including the company's Advantox(R) MLD and
Advantox MLD-UT wafers.
    Although no assurances can be given, the Company expects to ship
this system in the second quarter of 2004 depending on completion of
the tool and customer acceptance of the tool at Ibis' facility.
Revenue recognition for this implanter order will be based on final
customer acceptance at their facility, the timing of which may vary
depending on a number of factors, which include the customer's site
being properly facilitized (power, water, air) and performance of the
tool. As a result, Ibis cannot provide any guarantees with respect to
when or whether it will recognize revenue on this transaction or if
the option for a second implanter will be exercised.

    About SIMOX-SOI

    Silicon-on-Insulator (SOI) is a manufacturing technology where an
insulating layer is created within a silicon wafer, isolating the top
layer of silicon where the active transistors will be manufactured
from the rest of the bulk silicon wafer. The buried oxide layer acts
as a barrier that reduces electrical leakage from the transistors,
resulting in semiconductor devices that are faster and more power
efficient. These benefits make SOI a valuable technology for
chipmakers producing IC's for high performance applications such as
servers and workstations, portable and desktop computers, wireless
communication devices, integrated optical components and automotive
electronics.
    Separation-by-IMplantation-of-OXygen (SIMOX) refers to a technique
used by Ibis for manufacturing SOI wafers where an oxygen implanter
creates a very thin insulating layer within the wafer, just below a
thin layer of silicon on the top of the wafer. Compared to competing
technologies, the SIMOX process offers high quality SOI wafers at
competitive costs in production quantities.

    About Ibis Technology

    Ibis Technology Corporation is a leading provider of SIMOX-SOI
implantation equipment and SIMOX-SOI wafers to the worldwide
semiconductor industry. Headquartered in Danvers, Massachusetts, the
company also 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.

    "Safe Harbor" Statement

    This release contains forward-looking statements, including
statements regarding (i) customer interest in and demand for, and
market acceptance of, the Company's SIMOX-SOI technology (ii) the cost
efficiencies of producing large volumes of SOI wafers with thinner
layers (top silicon and buried oxide) using SIMOX-SOI technology,
(iii) the throughput and production capacity of the i2000 implanter
for manufacturing 200- and 300-millimeter SIMOX-SOI wafers and (iv)
the Company's current expectations that the tool will be shipped in
the second quarter of 2004, and concerning the timing and likelihood
of revenue recognition. Such statements are neither promises nor
guarantees, but are based upon management's current expectations and
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, including, but not limited to, customer
acceptance of the Company's implanter products upon delivery to the
customer and adequate customer facilitization, product demand and
market acceptance risks, general economic conditions, the impact of
competitive products, technologies and pricing, the impact of rapidly
changing technology, equipment capacity and supply constraints or
difficulties, limitations on the ability to protect the Company's
patents and proprietary technology, the Company's limited history with
regard to sales of implanters, the cyclical nature of the
semiconductor industry, and other risks and risk factors described in
the Company's Securities and Exchange Commission filings from time to
time, including but not limited to, the Company's Annual Report on
Form 10-K for the year ended December 31, 2002. All information set
forth in this press release is as of February 5, 2004 only, and Ibis
undertakes no duty to update this information unless required by law.

    Note: Ibis is a trademark and Advantox is a registered trademark
of Ibis Technology Corporation. All other trademarks are the property
of their respective owners.

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