EXHIBIT 11

DUPONT PHOTOMASKS, INC.  EARNINGS (LOSS) PER SHARE COMPUTATION  (Dollars in thousands, except per share amounts)  (unaudited)

|                                    |  | Quarter Ended June 30, 2003 |           
|----------------------------------- |  | --------------------------- | ----------
|
|Weighted average shares outstanding |  |                             | 18,063,601
|Net loss                            |  | $                           | (59,144   
|Loss per share                      |  | $                           | (3.27     

|                                           |  | Quarter Ended June 30, 2002
|------------------------------------------ |  | ---------------------------
|
|Weighted average shares outstanding        |  |                            
|Dilutive effect of stock performance plans |  |                            
|                                           |  |                            
|                                           |  |                            
|                                           |  |                            
|Net income                                 |  | $                          
|Earnings per share                         |  | $                          

|                                    |  | Year Ended June 30, 2003 |           
|----------------------------------- |  | ------------------------ | ----------
|
|Weighted average shares outstanding |  |                          | 18,016,103
|Net loss                            |  | $                        | (113,510  
|Loss per share                      |  | $                        | (6.30     

|                                           |  | Year Ended June 30, 2002
|------------------------------------------ |  | ------------------------
|
|Weighted average shares outstanding        |  |                         
|Dilutive effect of stock performance plans |  |                         
|                                           |  |                         
|                                           |  |                         
|                                           |  |                         
|Net income                                 |  | $                       
|Earnings per share                         |  | $                       

|                                           |  | Year Ended June 30, 2001
|------------------------------------------ |  | ------------------------
|
|Weighted average shares outstanding        |  |                         
|Dilutive effect of stock performance plans |  |                         
|Dilutive effect of convertible notes       |  |                         
|                                           |  |                         
|                                           |  |                         
|                                           |  |                         
|Net income                                 |  | $                       
|Dilutive effect of convertible notes       |  |                         
|                                           |  |                         
|                                           |  | $                       
|                                           |  |                         
|Earnings per share                         |  | $                       

We
had outstanding anti-dilutive commitments under our stock performance plans covering 1,189,243, 2,128,690, and 4,121,925 shares for 2001, 2002 and 2003,
respectively. For 2002 and 2003, respectively the effect of the convertible notes were not included in the computations of diluted EPS because the effect of including the convertible notes would have
been anti-dilutive.

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