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SOUTHAMPTON, Pa.: July 29, 2004 - Environmental Tectonics Corporation (Amex: ETC) today announced with regret the passing of Cliff Russell, its Vice-President and General Counsel since August, 1993. Cliff was a prolific and tireless attorney who was comfortable with all aspects of corporate and contract law. Over the years he was a pivotal component of ETC's business. Cliff did not shy away from arguing against any position he believed was inequitable, no matter whether it was with ETC management or opposing counsel. Through it all, he managed to maintain a wry sense of humour which helped him cope with those who didn't see "his" view of the law. Cliff was a 1966 graduate (with honours) of Northwestern University with a degree in philosophy, and a 1969 graduate (Juris Doctor, cum laude) from Harvard Law School. He had extensive experience in government contract law, including serving for four years as Assistant to the General Counsel, U.S. Department of the Army, for Procurement Law, at the Pentagon. As a private practitioner, Cliff represented numerous contractors on procurement issues, including bid protests and claims involving many U.S. Government agencies. He was a member of the American Bar Association and various business and trade associations. Concerning Cliff's passing, William F. Mitchell, ETC's president and Chairman, stated, "I considered Cliff to be both an integral member of our executive management team and a personal friend. We had many pitched battles about various issues over the years, Cliff arguing his legal position and I taking the business side, but we always "fought" fair and managed to reach a viable compromise for the corporate good. He always operated at the highest level of moral integrity, and had one of the sharpest legal minds I have ever encountered. He was intensely devoted to his work - even locking the doors on a weekend or holiday would not keep him from finding a way to put in a few hours. Cliff never refused assistance to his co-workers and friends, whether it be for business or personal related advice. Cliff always maintained that ETC was his "second family". He certainly was highly respected, well liked, a friend to all at ETC, and we consider his passing as one of our own. He will always be remembered. Rest in peace, Cliff." ETC 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 press release may include report contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about the Company that may cause our actual results, levels of activity, performance or achievements to be materially different from any other future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "could", "would", "expect", "plan", "anticipate", "believe", "estimate", "continue", or the negative of such terms or similar expressions. Factors that may cause or contribute to such a discrepancy include, but are not limited to, contract cancellations, failure to obtain new contracts, political unrest in customer countries, unfavourable results in litigation, general economic conditions, and those issues identified from time to time in our Securities and Exchange Commission filings and other public documents, including, without limitation, our Annual Report on Form 10-K for the fiscal year ended February 27, 2004. |
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