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AMERICAN FILM REPORTS HIGHER SALES AND EARNINGS; JOSEPH TARITERO NAMED CHAIRMAN OF THE BOARD

 AMERICAN FILM REPORTS HIGHER SALES AND EARNINGS;
 JOSEPH TARITERO NAMED CHAIRMAN OF THE BOARD
 NORTH HOLLYWOOD, Calif., May 12 /PRNewswire/ -- American Film Technologies Inc. (NASDAQ: AFTI) announced today that it posted significant gains in sales and earnings for the third quarter and first nine months of fiscal 1992. This constitutes the third consecutive profitable quarter for American Film.
 The company also announced that Joseph Taritero, president and chief executive officer, has been elected to the additional post of chairman of the board of directors. George Jensen, the founder of the company and chairman since its inception in 1985, has resigned as an officer of the company and from the board of directors to pursue entrepreneurial business opportunities.
 For the three months ended March 31, 1992, revenues increased to $3,129,000 from $1,678,000 in the same quarter a year earlier. Net income for the quarter was $156,000, equal to 1 cent per share, compared to a loss of $2,894,000, or 27 cents per share, in last year's third quarter.
 Nine months' revenues climbed to $10,036,000 from $6,711,000 in the like period a year ago. Net income was $713,000, equal to 6 cents per share, as against a loss of $4,478,000, or 41 cents per share, in the first nine months of last year.
 Taritero commented: "The sharp turnaround in American Film Technologies' results this year reflects both the steady profits from our well-established film coloring business and the growing success of our animation technology.
 "Production of computer-assisted animation for domestic television proceeded during the third quarter in our Southern California studio and is continuing to build momentum. At the same time, we expanded both our production capacity and our customer base. In a contract just completed for Fox Film Corp. and Marvel Productions, we delivered the first animated theatrical short, Gahan Wilson's 'Diner,' completely produced on our animation system. The project was delivered on time and on budget.
 "Two announcements made earlier in the quarter point both to the growing interest in, and enormous potential of, our animation system: First, we announced that we will be providing digital ink and paint services to Amblin Entertainment in association with Universal Pictures for its next feature-length animated film, 'We're Back'; second, our animation technology will be at the heart of Tsuburaya Productions' Shanghai studio. AFT/Tsuburaya Partners will jointly operate the facility in exchange for the exclusive use of our proprietary animation system, producing non-theatrical and television animation for both the U.S. and Japanese markets, the two largest in the world.
 "We believe the partnership will give us a powerful combination of state-of-the-art technology and low labor costs which will enable AFT to grow dramatically in the years ahead."
 Taritero added: "AFT has this potential thanks to the enthusiasm and drive of George Jensen. We wish him the best in his new endeavors."
 Jensen said: "I am sincerely grateful to everyone who worked so hard with me over the years to guide AFT from the development stage into an industry leader. The future of the company is now in the capable hands of Joe Taritero, and I believe we will be as successful in the animation industry as we are in the film colorization business."
 Jensen will function as a consultant to the company for the balance of 1992.
 American Film Technologies Inc. provides animation production services, special effects for original television and theatrical film production, as well as computer-assisted paint services for traditionally drawn animation. The company also creates color versions of black and white motion pictures and television productions.
 AMERICAN FILM TECHNOLOGIES INC.
 Unaudited Results of Operations
 Three months ended
 March 31,
 1992 1991
 Revenues $3,129,000 $1,678,000
 Net income (loss) $156,000 ($2,894,000)
 Net income (loss) per
 common share $.01 ($.27)
 Weighted average shares
 outstanding 10,796,000 10,851,000
 Nine months ended
 March 31,
 1992 1991
 Revenues $10,036,000 $6,711,000
 Net income (loss) $713,000 ($4,478,000)
 Net income (loss) per
 common share $.06 $.41
 Weighted average shares
 outstanding 10,781,000 10,961,000
 -0- 5/12/92
 /CONTACT: Joseph Taritero, president and CEO of American Film Technologies, 818-763-7100; Craig Long (financial) of The Foristall Company, 213-626-4524, for American Film Technologies; or Peter Bylsma (general and product information), 310-552-6922, for American Film Technologies/
 (AFTI) CO: American Film Technologies Inc. ST: California IN: ENT SU: ERN


EH-JL -- LA004 -- 8943 05/12/92 08:34 EDT
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Date:May 12, 1992
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