| Southampton, PA May 28, 2002: ENVIRONMENTAL TECTONICS CORPORATION (AMEX:ETC) announced that it has been selected after a thorough technical evaluation by a Southeast Asian customer to provide a turnkey project valued at approximately $15,000,000 for the Company's High Performance Human Centrifuge. The project will include a fully equipped training facility with specially designed foundation, offices and classrooms. The G-FET™-II is the third generation human centrifuge produced by ETC, and is the most technologically advanced of its kind in the world. Because of its advanced design, the G-FET™-II will provide the highest degree of safety available today for G-force training of pilots and crew of high-performance aircraft. The Company maintains its world leadership in the production of G-force training facilities, having designed, built, installed and maintained human centrifuges for the U.S. Air Force and U.S. Navy, as well as the Air Forces of Korea, Singapore, Japan and Nigeria. ETC has been in the forefront of aircrew training equipment and facilities for over 30 years, with equipment installations in over 50 countries. Said William F. Mitchell, ETC's president and CEO, "We are all very pleased to add this major Centrifuge project to our backlog. The G-FET™-II is an exciting machine, with proven, advanced features that will enhance on-the-ground training to a degree that rivals actual flight, according to reports from many of the experienced fighter jet pilots that have ridden our G-LAB® and G-FET™ centrifuges." ETC also designs, develops, installs and maintains aircrew training systems, public entertainment systems, process simulation systems (sterilization and environmental), clinical hyperbaric systems, environmental testing and simulation systems, and related products for domestic and international customers. This report contains certain "forward-looking" statements including, without limitation, statements containing the words "believes", "anticipates", "intends", "expects", and words of similar import relating to the Company's operation. There are important factors that could cause actual results to differ materially from those indicated by such forward-looking statements including contract cancellations, political unrest in customer countries, general economic conditions and the risk factors detailed from time to time in Environmental Tectonics Corporation's periodic reports filed with the Securities and Exchange Commission including, without limitation, Environmental Tectonics Corporation's Annual Report on Form 10-K for the fiscal year ended February 23, 2002 |
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