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AXT, Inc. to Close the NASDAQ Stock Market on Aug. 9, 2006

FREMONT, Calif., Aug. 7 /PRNewswire-FirstCall/ -- AXT, Inc. (Nasdaq: AXTI), a leading manufacturer of compound semiconductor substrates, today announced that Phil Yin, chief executive officer, will preside over The NASDAQ Stock Market Closing Bell on Aug. 9, 2006 to commemorate AXT's 20-year corporate anniversary.

"We are very pleased to be able to celebrate our 20-year corporate anniversary, and eighth anniversary as a public company, by taking part in NASDAQ's closing bell festivities," said Yin. "In the past year, AXT has executed a significant business turnaround with a focus on quality, efficiency and customer care that is resulting in improving revenues and financial results. These changes have allowed us to strengthen our standing in the marketplace and to renew the tradition of innovation that has been a hallmark of our company for the past 20 years. Today, with increasing demand in the wireless, LED and photovoltaic applications, coupled with industry-wide capacity constraint in key strategic areas, we are regaining our market share and driving continued growth. This is a very exciting and rewarding time for our company and we wish to thank NASDAQ for allowing us to mark this anniversary in such a memorable way."

The closing bell is available from 3:50 p.m. to 4:05 p.m. on uplink IA-6 C-band/transponder 17. The downlink frequency is 4040 Vertical; Audio 6.2-6.8. The feed can also be found on Waterfront fiber 1623. AXT will also showcase the event on its website at shortly after the ceremony.

About AXT, Inc.

AXT designs, develops, manufactures and distributes high-performance compound and single element semiconductor substrates comprising gallium arsenide (GaAs), indium phosphide (InP) and germanium (Ge). The company's substrate products are used primarily in lighting display applications, wireless communications, and fiber optic communications. Its vertical gradient freeze (VGF) technique for manufacturing semiconductor substrates provides significant benefits over other methods and enabled AXT to become a leading manufacturer of such substrates, particularly in optoelectronics applications. AXT has manufacturing facilities in China and invests in five joint ventures producing raw materials. For more information, see AXT's website at . The company can also be reached at 4281 Technology Drive, Fremont, California 94538 or by calling (510) 683-5900. AXT is traded on the NASDAQ Global Market under the symbol AXTI.

CONTACT: John J. Cerilli, Vice President, Global Sales and Marketing, of AXT, Inc., +1-510-683-5900; or Leslie Green of Green Communications Consulting, LLC, +1-650-312-9060, for AXT, Inc.
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08/07/2006 09:00 EDT