Exhibit 99.1


Ibis Technology Names William J. Schmidt Chief Financial Officer

    DANVERS, Mass.--(BUSINESS WIRE)--May 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 appointment of William J.
Schmidt, 49, as chief financial officer, treasurer and clerk,
effective May 10, 2004. He joins Ibis Technology with over 25 years
experience in financial management with several multi-national,
publicly held companies in technology based industries.
    Martin J. Reid, president and chief executive officer of Ibis
Technology Corporation, said, "We are pleased to have Bill Schmidt
join us as CFO. He brings a strong background in financial management
with technology based firms, which will be a great asset to the
company as we drive to grow our equipment business. We welcome Bill to
Ibis and look forward to his contributions."
    Prior to joining Ibis, Schmidt was vice president of finance and
corporate controller at High Voltage Engineering Corporation, where he
was responsible for the overall financial management of this $300
million capital equipment manufacturer. Prior to joining High Voltage,
Schmidt served in senior level financial positions including vice
president of finance and CFO roles at the operations of several
leading technology companies including PRI Automation (Brooks),
PerkinElmer and Philips Electronics Corporation where he led major
initiatives focused on growth and improved earnings through strategic
acquisition, financial restructuring, operational and working capital
efficiencies, and cost reduction programs. Mr. Schmidt holds a
master's degree in business from Fairleigh Dickinson University and a
bachelor's degree in finance from West Virginia University.

    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.

    CONTACT: Ibis Technology Corporation
             Martin J. Reid, 978-777-4247
             or
             IR Agency Contact:
             Bill Monigle Associates
             Bill Monigle, 603-424-1184