Allied Motion Technologies, Inc. Hires New Marketing Executive.

Business Editors

DENVER--(BUSINESS WIRE)--Feb. 5, 2003

Allied Motion Technologies, Inc. (NASDAQ: AMOT)(formerly Hathaway Corporation) announced today that Kenneth R. Wyman has joined the company as Vice President of Marketing. Ken Wyman has over 30 years of experience in the motion control industry. His most recent position was as Vice President of Marketing for the Motion Components Division of the Danaher Corporation. Mr. Wyman held that same position with API Motion for five years before its merger with Danaher. Mr. Wyman's prior positions were in marketing, product management, sales, and engineering positions with several firms, all of which are in the motion control business.

"Ken Wyman brings to the Company a wealth of experience and knowledge of the motion control industry," commented Mr. Richard Smith, CEO of Allied Motion. "He has been involved in the successful growth of several motion companies through both internal growth and acquisition. Ken is an important addition to our team. He brings the technical expertise and marketing savvy the Company needs as we continue to build Allied Motion into a major force in the motion control business."

Headquartered in Denver, Colorado, Allied Motion designs, manufactures and sells motion control products into applications that serve many industry sectors in North America and certain European markets. With subsidiaries in the United States and United Kingdom, Allied Motion is a leading supplier of precision and specialty motion control components and systems.

The statements in this press release that relate to future plans, events or performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statements that may predict, forecast, indicate, or imply future results, performance, or achievements. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results of the Company to differ materially from the forward-looking statements. The risks and uncertainties include international, national and local general business and economic conditions in the Company's motion control markets, introduction of new technologies, success in making acquisition of motion control businesses, products and competitors, the ability to protect the Company's intellectual property, the ability of the Company to sustain, manage or forecast its growth and product acceptance, the continued success of the Company's customers to allow the Company to realize revenues from its order backlog and to support the Company's expected delivery schedules, the ability of the Company to meet the technical specifications of its Motion Control customers, the continued availability of parts and components, increased competition and changes in competitor responses to the Company's products and services, changes in government regulations and the ability to attract and retain qualified personnel. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements as a prediction of actual results. The Company has no obligation or intent to release publicly any revisions to any forward looking statements, whether as a result of new information, future events, or otherwise.