AML Communications Announces Equity Investment; Co-Founders to be Appointed to the Board of Directors.

Business Editors

CAMARILLO, Calif.--(BUSINESS WIRE)--March 15, 2001

AML Communications Inc. (Nasdaq:AMLJ) today announced that an agreement in principle has been reached with Jacob Inbar, president and chief executive officer, who represents a group of investors that will provide $500,000 in the form of an equity investment in common stock of AML Communications Inc.

The investor group includes, among others, Dr. Tiberiu Mazilu and Edwin McAvoy, both co-founders of AML Communications Inc. Under the terms of the agreement, the common stock, to be issued in a private placement, will be priced at $0.812 per share, which represents a discount of 25 percent of the average closing share price for the previous three days.

In consideration for receiving unregistered shares of common stock, the non-management members of the investor group will receive warrants for 40,000 shares priced at $1.125, the closing price on March 13, 2001.

The company also announced that, upon the closing of this transaction, Mazilu and McAvoy will be appointed to its board of directors and will assume the positions of vice president of Engineering and vice president of Marketing, respectively.

Mazilu held the position of vice president, Custom Products and as director from January 1987 to February 1999, and as vice president of Engineering from February 1999 to March 2000. McAvoy served as vice president, Sales & Marketing, and as a director from January 1987 to February 1999.

Inbar said: "I am excited to have the founders team back to address the needs of the company. The experience that Tiberiu and Ed bring will focus our new product development group and manage our resources with regards to our existing backlog."

AML Communications Inc. is a designer, manufacturer and marketer of amplifiers and related products for the global wireless industry. The company currently focuses on the following sectors of the wireless market: cellular telephony, broadband wireless access, personal communications services, wireless messaging, low-earth orbit satellite networks, and hybrid microwave circuit applications. Its Web site is at http://www.amlj.com.

The information contained in this news release contains certain forward-looking statements that involve risks and uncertainties, such as the statements of the company's plans, objectives, expectations and intentions. The company's actual results could differ materially from those indicated by such statements as a result of various factors including the ability to attract and retain qualified, knowledgeable employees, as well as those factors discussed in the company's Form 10-KSB and Form 10-QSB on file with the Securities and Exchange Commission (SEC).