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International Finance Veteran Martin M. Ellen Joins Cabot Microelectronics as Vice President and Chief Financial Officer

AURORA, IL, March 6, 2001 - Cabot Microelectronics Corporation (Nasdaq: CCMP), the leading supplier of chemical mechanical planarization (CMP) slurries, today announced the appointment of Martin M. Ellen to the position of Vice President and Chief Financial Officer.

Mr. Ellen joins Cabot Microelectronics after serving as Senior Vice President and Chief Financial Officer of Whitman Corporation (NYSE: WH) through the closing of its recent merger with PepsiAmericas. Whitman, formerly PepsiAmericas, is a $3 billion international manufacturer, marketer and distributor of Pepsi Cola and other beverages. During Ellen's tenure as Chief Financial Officer, Whitman nearly doubled its size through a series of strategic U.S. and European territory and product line expansions.

"Marty brings to Cabot Microelectronics a wealth of finance and operations experience in rapidly-growing publicly-traded companies that will serve him well in his new role," stated Cabot Microelectronics' President and Chief Executive Officer Dr. Matthew Neville. "He is an exceptional leader with demonstrated success in all aspects of finance on an international scale, including strategy development and execution, mergers and acquisitions, and capital markets transactions."

Mr. Ellen will be responsible for leading Cabot Microelectronics' financial agenda and aligning it with the company's overall business goals, and will be a major contributor in defining short-term and long-term corporate strategy. He will report directly to Dr. Neville.

"I'm very excited about joining the team at Cabot Microelectronics," stated Ellen. "The company's experience, leading edge technology and industry partnerships offer enormous opportunities for growth and value creation for all of Cabot Microelectronics' stakeholders."

Mr. Ellen has previously worked in a number of diverse industries, including computer-related automotive technology, fast moving consumer goods, as well as health care and financial services. He received a Bachelor of Science degree in accountancy from the University of Illinois in 1975, is a certified public accountant, and received a Masters of Management degree from Northwestern University in 1987.

About Cabot Microelectronics Corporation

Cabot Microelectronics, headquartered in Aurora, Illinois, USA, is the world leader in the development and supply of high-performance polishing slurries used for chemical mechanical planarization (CMP), a process that enables the manufacture of the most advanced integrated circuit (IC) devices and hard disk drive components. Cabot Microelectronics' global network of facilities encompasses corporate headquarters, a state-of-the-art research and technology center, and manufacturing plants in Aurora; manufacturing plants in the United Kingdom, Japan and the United States; and regional sales, technical applications and support offices strategically located throughout the world. The Company reported fiscal 2000 revenues of $180 million.

Safe Harbor Statement

The statements contained in this news release may contain "forward-looking statements." Actual results may differ materially from those anticipated in such forward-looking statements. All of these statements are expressly qualified in their entirety by the risk factors and other cautionary statements included in Cabot Microelectronics' filings with the Securities and Exchange Commission.

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