Exhibit 99.1

              Ibis Technology Announces Planned Departure of CFO;
        Debra Nelson, CFO, to Embark upon Entrepreneurial Retail Venture

    DANVERS, Mass.--(BUSINESS WIRE)--March 12, 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 that Debra Nelson, its chief
financial officer, has informed the Company that she intends to resign
as CFO, effective April 16, 2004. Nelson has been employed by Ibis
Technology for 13 years and has served as its chief financial officer
for the past six years.
    "I have enjoyed my time at Ibis and believe we have set a strong
foundation for the anticipated growth of SIMOX-SOI technology and
Ibis' implanter business," said Nelson. "At this juncture in my life,
I have decided to make a lifestyle change and embark upon a new
entrepreneurial retail venture, which led to my informing the company
very recently of my decision to leave. I will miss the Ibis team and
wish them the best."
    Martin J. Reid, president and chief executive officer of Ibis
Technology Corporation, said, "Debra Nelson's contributions to Ibis
have been numerous. Her dedication and financial leadership have
helped the company position itself for continued growth. She has been
a valuable and respected member of our senior management team and we
regret her departure. Debra is excited to begin the next phase of her
life as an owner of a consumer goods retail business, and we wish her
great success as she makes this lifestyle change."
    Nelson will continue to serve as CFO through April 16, 2004 and
has agreed to be available to Ibis on a consulting basis for a period
after that. Ibis has begun a search for Ms. Nelson's successor. Thomas
Lacey, Ibis' controller, will serve as acting CFO upon Ms. Nelson's
departure until Ibis completes its search.

    About Ibis Technology

    Ibis Technology Corporation is a leading provider of oxygen
implanters for the production of SIMOX-SOI
(Separation-by-Implantation-of-Oxygen Silicon-On-Insulator) wafers for
the worldwide semiconductor industry. The company is also a leading
producer of SIMOX-SOI wafers. Headquartered in Danvers, Massachusetts,
the company maintains an additional 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' web site at www.ibis.com.

    "Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995

    This release contains express or implied forward-looking
statements regarding, among other things, the anticipated growth of
SIMOX-SOI technology and Ibis' implanter business, the belief that
the company is positioned for continued growth and Ibis' future plans
for the position of chief financial officer. Such statements are
neither promises nor guarantees but rather are subject to risks and
uncertainties which could cause actual results to differ materially
from those described in the forward-looking statements. Such factors
and uncertainties include, but are not limited to continued migration
to SOI technology, continued market acceptance of SIMOX, product
demand, the company's intent to pursue, and its ability to maintain,
further strategic relationships, partnerships and alliances with third
parties, the company's ability to protect its proprietary technology,
the potential trends in the semiconductor industry generally, the ease
with which the i2000 can be installed and qualified in fabrication
facilities, the likelihood that implanters, if ordered, will be
qualified and accepted by customers, the likelihood and timing of
revenue recognition on such transactions, the impact of competitive
products, technologies and pricing, the impact of rapidly changing
technology, the possibility of further asset impairment and resulting
charges, equipment capacity and supply constraints or difficulties,
the company's limited history with regard to sales of implanters,
general economic conditions, 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, 2003. All
information set forth in this press release is as of March 12, 2004,
and Ibis undertakes no duty to update this information unless required
by law.

    CONTACT: Company Contact:
             Ibis Technology Corporation
             Debra Nelson, 978-777-4247
             Chief Financial Officer
             or
             Agency Contact:
             IR/PR Counsel
             For Ibis Technology
             Bill Monigle, 603-424-1184