NEWS RELEASE

Contact:  Beverly L. Couturier
(508) 337-5111

HELIX TECHNOLOGY CORPORATION REPORTS
FOURTH QUARTER AND FULL YEAR 2004 RESULTS

MANSFIELD, MASSACHUSETTS, January 28, 2005... Helix Technology Corporation (Nasdaq: HELX) today announced financial results for both the fourth quarter and the full year 2004. Net income for the fourth quarter ended December 31, 2004, was $6.2 million, or $0.24 per diluted share, which includes a non-cash adjustment of $3.7 million to reverse a previously established valuation allowance against our net deferred taxes. Excluding this adjustment, net income for the fourth quarter was $2.5 million, or $0.10 per diluted share, compared with $0.8 million, or $0.03 per diluted share, for the fourth quarter of 2003. Sales for the fourth quarter of 2004 were $34.9 million, versus $31.7 million a year ago.

Net income for the twelve months ended December 31, 2004, was $23.0 million, or $0.88 per diluted share, compared with a net loss of $11.1 million, or $(0.43) per diluted share reported for 2003. Excluding the impact of the discrete non-cash deferred tax valuation adjustment for each of the respective years, net income was $19.3 million, or $0.74 per diluted share, for 2004, compared with a net loss of $2.5 million, or $(0.10) per diluted share, for 2003. Sales for 2004 were $159.7 million, compared with $105.9 million in 2003.

Helix President, James Gentilcore, said, "Our full year performance reflects the hard work of an organization committed to operational excellence and strong asset management throughout the business cycle. While the fourth quarter brought clearer evidence of an industry-wide slowdown, the Polycold Systems Inc. acquisition, on schedule to close on February 15, will have an immediate and positive impact on our revenue and earnings performance."

Helix Technology Corporation is a global leader in the development and application of innovative solutions in the field of vacuum technology. Our CTI-Cryogenics and Granville-Phillips product offerings provide a broad range of components and subsystems that are key to the manufacture of semiconductors, flat panel displays and data storage devices. In addition, our highly regarded Global Support activity provides critical ongoing operational support services to semiconductor device producers throughout the world.

This press release contains forward-looking statements, including statements regarding the future performance of the Company's business and the semiconductor capital equipment industry, which are subject to a number of important factors that may cause actual results to differ materially from those indicated. These factors include, among others; the successful integration of Polycold into the operations of Helix, market acceptance of and demand for the Company's products, the success of the Company's strategic initiatives, including its global support operations, the health of the global semiconductor capital equipment market and the timing and scope of any change in industry conditions, the Company's success in sustaining order bookings, and other risks contained in Exhibit 99.1 to the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information in this press release.

HELIX REPORTS RESULTS

CONSOLIDATED STATEMENTS OF OPERATIONS
	Fourth Quarter					Twelve Months
	(unaudited)					(unaudited)
(in thousands except per share amounts)	2004			2003			2004			2003
Net sales	$	34,921		$	31,732	$	159,674		$	105,883
Costs and expenses:
Cost of sales		21,177			19,870		95,849			69,836
Research and development		2,984			2,519		10,826			10,082
Selling, general, and administrative		9,539			8,338		35,623			31,280
		33,700			30,727		142,298			111,198
Operating income (loss)		1,221			1,005		17,376			(5,315	)
Joint venture income		1,279			421		3,508			1,181
Interest and other income		373			217		1,065			913
Income (loss) before taxes		2,873			1,643		21,949			(3,221	)
Income tax provision (benefit)		(3,317	)		850		(1,028	)		7,915
Net income (loss)	$	6,190		$	793	$	22,977		$	(11,136	)
Net income (loss) per weighted average share:
Basic	$	0.24		$	0.03	$	0.88		$	(0.43	)
Diluted	$	0.24		$	0.03	$	0.88		$	(0.43	)
Weighted average shares:
Basic		26,114			26,099		26,110			26,099
Diluted		26,167			26,181		26,187			26,099

SUMMARY BALANCE SHEETS
		(unaudited)	(audited)
(in thousands)		12/31/04	12/31/03
Assets
Cash, cash equivalents, and investments	$	76,336	$	67,387
Accounts receivable		24,100		21,033
Inventories		21,595		22,032
Other current assets		9,465		1,934
Fixed and other assets		35,489		33,604
Total Assets	$	166,985	$	145,990
Liabilities and Stockholders' Equity
Total liabilities	$	27,378	$	27,184
Stockholders' equity		139,607		118,806
Total Liabilities and Stockholders' Equity	$	166,985	$	145,990

The Company's annual report on Form 10-K
is available to any stockholder upon request.