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MKS Announces Preliminary Second Quarter Results for Fiscal 2004

Waterloo ON - November 3, 2003: MKS Inc. (MKS) (TSX:MKX), today announced that it expects to report second quarter 2004 revenues in the range of $7.4 to $7.6 million, approximately equal to the $7.5 million reported in the second quarter of fiscal 2003. MKS expects to report operating costs in the range of $8.1 to $8.5 million for the second quarter.

Waterloo ON - November 3, 2003: MKS Inc. (MKS) (TSX:MKX), today announced that it expects to report second quarter 2004 revenues in the range of $7.4 to $7.6 million, approximately equal to the $7.5 million reported in the second quarter of fiscal 2003. MKS expects to report operating costs in the range of $8.1 to $8.5 million for the second quarter.

The expected revenues for the second quarter are attributable to lower than expected licensing revenue across both divisions and all geographic areas as a number of significant new license transactions were delayed. Costs will be lower than expected in spite of the sharply increased price levels of the Canadian dollar and Euro (in which a majority of costs are incurred) relative to the US dollar.

"Our lack of year over year revenue growth is at odds with our established trend and is not indicative of the significant improvements made in the state of our business, particularly as reflected in our continued strong pipeline growth," said Philip C. Deck, chairman and chief executive officer of MKS. "We remain fully committed to the enterprise SCM strategy that has produced considerable gains to date."

MKS re-affirmed its expectation for full fiscal year profitability and will give additional details at its earnings conference call scheduled for November 26, 2003.

MKS will report final results for the second quarter fiscal 2004 after close of market on November 26, 2003. The Company will hold a conference call at 5:00 p.m. EDT on that date to discuss its second quarter performance for fiscal 2004.

About MKS
MKS Inc. (MKS) (TSX:MKX) provides award-winning enterprise software configuration management (SCM) and interoperability software solutions enabling Global 1000 companies to better manage and control the complete process of software development. The Company's family of SCM products offers advanced technology with robust workflow, version control, and impact analysis capabilities. Under its widely known MKS Toolkit brand, MKS provides UNIX-Windows co-existence, and system administration that significantly cut development and administrative costs and reduce time to market while enabling enhanced performance. Founded in 1984 with over 10,000 customers worldwide, MKS has built its brand on the foundation of advanced technology, superior quality and extraordinary customer service. More information about MKS can be found at http://www.mks.com, or by calling 1-800-265-2797 (US & Canada), +49-711-351775-0 (Germany), and +44-1483-733900 (United Kingdom).

MKS, MKS Source Integrity, MKS Integrity Manager, MKS Integrity Solution, MKS Federated Server and MKS Toolkit are trademarks or registered trademarks of MKS Inc. All other trademarks mentioned in this release are the property of their respective owners.

This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made including those factors detailed from time to time in filings made by the Company with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. The Company does not intend and does not assume any obligation to update these forward-looking statements.

Investor Contact:

Douglas Sawatzky, CFO

519-883-3252

Email: dsawatzky@mks.com

 

 

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