Exhibit 99.1

ASML REFINES GUIDANCE FOR SECOND HALF 2002 RESULTS AND DISCLOSES FURTHER
MEASURES TO CUT COSTS


VELDHOVEN, The Netherlands, December 18, 2002 - ASML Holding NV (ASML) today
reiterated its previously disclosed expectation that it will ship approximately
100 lithography systems during second half 2002. Despite market share gains in
2002, ASML has continued to suffer from the extended semiconductor industry
downturn. Consequently, the company plans to implement further measures to
contain costs, which will result in its recording provisions and other charges
totaling approximately EUR 125 million in second half 2002. After giving effect
to these measures, ASML is targeting to be cash flow neutral in second half
2002.

The further cost-saving measures to be taken by the company are in response to
the semiconductor industry entering year three of the worst downturn in its
history. The measures include a reduction in work force, divestment of Thermal
operations and termination of Track operations.

The company's Track and Thermal segment accounted for approximately six percent
of total net sales during the first half of 2002 but also for over 60 percent of
the company's operating losses in that period.

"The global market for semiconductor capital equipment has slumped by more than
70 percent in the last two years," said Doug Dunn, president and CEO, ASML.
"Consequently, we are doing all the things that good companies do in extreme
downturns. We have been cutting costs, managing down our working capital and
gaining market share. Our regrettable but real requirement is to continuously
calibrate our work force to global market conditions."


Lithography Segment

In its global lithography segment, which accounted for approximately 94 percent
of total net sales in first half 2002, ASML plans to lower the break-even point
by adjusting labor capacity and increasing operating flexibility. ASML intends
to reduce its lithography-related work force by approximately 700 positions
worldwide, which includes approximately 350 positions in the Netherlands. The
company is notifying employees, works councils and labor unions in accordance
with local labor law and employment practices and will commence consultation as
required.

Total costs worldwide for lithography-related employee termination are estimated
not to exceed an amount of EUR 10 million, which will be largely recorded in
2003. Due to the prolonged downturn and the effects on anticipated sales, ASML
also has taken provisions that will not exceed EUR 80 million in second half
2002 for slow-moving lithography inventory.


Track and Thermal Segment

ASML's Track operations, based in San Jose, California, will be discontinued as
of December 2002, with a related charge (including employee termination costs)
of EUR 45 million comprising EUR 12 million in cash and EUR 33 million of
non-cash charges. ASML is taking steps, however, to continue the servicing of
customers in the discontinued Track operations. "We have concluded that
integrating our track systems with our lithography platform would take too long
and would require too much investment," said Doug Dunn. "We still believe in the
integration of track and lithography. Moving forward, we will look for possible
partners to accomplish this goal." As of December 2002, the company employs
approximately 300 people in the discontinued Track operations.

ASML also is actively pursuing the divestiture of its Thermal operations, based
in Scotts Valley, California. "We have decided that divestment will unlock
Thermal's inherent value. ASML's focus is imaging solutions. Thermal will be
better outside ASML," said Doug Dunn. "We want to create the conditions to
secure Thermal's future success." As of December 2002, the company employs
approximately 450 people in Thermal operations.


Work Force

The intended size of the company's total work force will be approximately 5,200
positions by July 2003, a reduction of approximately 1,450 positions or
approximately 22 percent, compared with approximately 6,650 employees as of
December 2002. Approximately 750 of these positions reflect the anticipated
combined effect of the discontinuance of the company's Track operations and the
divestiture of Thermal.

"ASML is making difficult but crucial decisions. However, with our range of new
products and new customers, ASML is well positioned to expand rapidly when the
market recovers," concluded Doug Dunn. "Offering customers the right
technologies at the right time creates value for them and helps secure the
future success of ASML."


About ASML

ASML is one of the world's leading providers of advanced technology systems for
the semiconductor industry, mainly for manufacturing complex integrated
circuits. Headquartered in Veldhoven, the Netherlands, ASML is traded on
Euronext Amsterdam and NASDAQ under the symbol ASML. In the first half of 2002,
the company reported net sales of EUR 823 million. ASML is present in 50
locations throughout the world. For more information, visit: www.asml.com.

"Safe Harbor" Statement under the U.S. Private Securities Litigation Reform Act
of 1995: the matters discussed in this document include forward-looking
statements that are subject to risks and uncertainties including, but not
limited to, economic conditions, product demand and industry capacity,
competitive products and pricing, manufacturing efficiencies, new product
development, ability to enforce patents, availability of raw materials and
critical manufacturing equipment, trade environment, and other risks indicated
in filings with the U.S. Securities and Exchange Commission.

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Media Contacts
Tom McGuire - Corporate Communications - +31.40.268.5758 - Veldhoven,
The Netherlands
Beth Kitchener - Corporate Communications - +31.40.268.2602 - Veldhoven, The
Netherlands

Investor Relations Contacts
Doug Marsh - U.S. Institutional Investor Relations +1.480.383.4006 - Tempe,
Arizona, USA
Craig DeYoung - Investor Relations +31.40.268.3938 - Veldhoven, The Netherlands