Macricostas family scholarship foundation honors 2011 scholarship recipients

Brookfield, conn.--(business wire)--the macricostas family scholarship foundation (the “foundation”), a not-for-profit organization, awarded a total of $40,250 to 34 deserving college students whose parents are employed by photronics, inc. (nasdaq: plab) for the 2011 - 2012 academic year. the foundation, established in 1997 with an initial endowment of $500,000 by the family of photronics chairman and founder constantine (“deno”) macricostas has awarded over $658,000 in scholarship awards since its inception. the foundation’s mission is to provide financial assistance to children of photronics’ employees who have demonstrated outstanding academic achievement and personal character. a reception to honor the connecticut scholarship recipients was held thursday, june 23, 2011, at photronics’ brookfield campus. nine recipients and their families were in attendance: melissa hannequin, a junior at fairfield university; susan kazlauskas a senior at iona college; lana nawa, a sophomore at university of connecticut; shavonna person, a senior at western connecticut state university; alison pierre, a senior at western connecticut state university; karly rust, a freshman at roger williams; rosemary shakro, a senior at liberty university; noorpreet sidhu, a junior at pace university; and joshua squires, a sophomore at gordon college. "the macricostas family scholarship foundation has been awarding deserving students for the past fourteen years. this is the first year, however, that we have held an awards ceremony,” stated mr. macricostas. “the foundation felt it was important to host a reception for the students, as well as their parents. an opportunity was created that allowed the students’ academic achievement, along with their parents’ support and guidance, to be formally recognized. an awards ceremony just seemed like the right thing to do,” concluded macricostas. the macricostas family scholarship foundation was created to recognize and encourage deserving students whose parents are employed at photronics, a leading worldwide manufacturer of photomasks. the foundation was created to help defray the cost of higher education. scholarships are awarded on the basis of academic performance, participation in school-sponsored and other community-related extra-curricular activities, and essay submissions. scholarship awards are determined by an independent committee and administered by the photronics human resources department. 13-2011
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