Ibis Technology Files Articles of Dissolution; Announces Record Date and Amount for Liquidating Distribution

In connection with this filing, effective as of February 23, 2009, Ibis
will close its stock transfer books and discontinue recording transfers
of shares of its common stock, except for transfers by will, intestate
succession or operation of law.

Ibis also announced today that its Board of Directors has declared a
liquidating distribution of $0.07 per share on each outstanding share of
the Company's common stock. This distribution is expected to be made on
or about February 25, 2009 to all stockholders of record of the
Company's common stock as of the close of business on February 23, 2009.

At a special meeting of the stockholders held on January 30, 2009, the
stockholders approved a Plan of Complete Liquidation and Dissolution of
the Company. The liquidating distribution announced today represents a
partial distribution to Ibis' stockholders of funds remaining at the
Company.

Pursuant to Massachusetts law, the Company has established a reserve to
pay wind down costs and other anticipated and unanticipated expenses.
Although no assurances can be given, the Company hopes to make at least
one additional liquidating distribution out of any remaining funds to
the holders of record of its common stock as of February 23, 2009.
Though the timing and amount of any future liquidating distribution or
distributions are not yet known, the Company does not presently
anticipate making a final liquidating distribution prior to February
2012.

Statement under the Private Securities Litigation Reform Act

This press release may contain forward-looking statements within the
meaning of the federal securities laws, including statements regarding
the timing and amount of potential future liquidating distribution
payments and amounts available for distribution to holders of common
stock. These statements reflect the Company's current expectations with
respect to future events and are based on its management's current
assumptions and information currently available. Actual results may
differ materially. There can be no assurance that the Company's
expectations will be achieved. Please refer to the risk factors detailed
in the Company's periodic reports and registration statements as filed
with the Securities and Exchange Commission, as well as in the Company's
definitive proxy statement filed on November 25, 2008. These
forward-looking statements are neither promises nor guarantees.
Investors are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof. Ibis
undertakes no responsibility to revise or update any such
forward-looking information.

SOURCE: Ibis Technology Corporation

Ibis Technology Corporation
William J. Schmidt, 978-777-4247
CFO & Treasurer

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