Microelectronics industry leaders routinely name mask cost and cycle time as top issues of concern. A survey was created with support from International SEMATECH (ISMT) and administered by SEMI North America to gather information about the mask industry as an objective assessment of its overall condition. The survey is designed with the input of mask technologists from semiconductor manufacturers, merchant mask suppliers, and makers of equipment for mask fabrication. This year's assessment is the third in the current series of annual reports and is intended to be used as a baseline for the mask industry and the microelectronics industry to gain a perspective on the technical and business status of the mask industry. This report will continue to serve as a valuable reference to identify the strengths and opportunities of the mask industry. The results may be used to guide future investments on critical path issues. This year's survey builds upon the 2003 survey to provide an ongoing database using the same questions as a baseline with only a few minor changes or additions. Questions are grouped into categories: general business profile information, data processing, yields and yield loss mechanisms, delivery times, returns and services. Within each category are a many questions that create a detailed profile of both the business and technical status of the mask industry. This assessment includes inputs from ten major global merchant and captive mask manufacturers whose revenue represents approximately 85% of the global mask market.