Tegal Corporation Adopts Shareholder Rights Plan (TGAL)

Tegal Corporation, TGAL today announced that its Board of Directors has adopted a Shareholder Rights Plan. The Plan was not adopted in response to any attempt to acquire Tegal Corporation. Thomas R. Mika, Tegal's Chairman, President and Chief Executive Officer, stated “The Plan, which is similar to plans adopted by many other publicly traded companies, is designed to enhance the Board's ability to protect shareholder interests and to ensure that shareholders receive fair treatment in the event any coercive takeover attempt of Tegal Corporation is made in the future. The Plan is intended to provide the Board with sufficient time to consider any and all alternatives to such an action.”