American Access Technologies Completes Conversion of $5 Million PFD Issue; Strengthens common shares technically by removing threat of excessive dilution.

Business Editors

LAKE MARY, Fla.--(BUSINESS WIRE)--Jan. 31, 2000

Telecommunications equipment manufacturer American Access Technologies, Inc. (NASDAQ SmallCap: AATK) today reported completing conversion of all the outstanding shares of its $5 million Series A 10% Senior Convertible Preferred issue and thereby strengthening the technical position of its common shares. The company said that all the underlying common shares have already been sold into the market.

&uot;It's not too dramatic to say that finally converting the last of our preferred shares has removed a Damocles sword that has been hanging over American Access since 1998,&uot; said CFO Bobby Story. He noted that the $5 million convertible preferred issue had enabled the company to bring to market its leading edge Zone Cabling technology, acquire key building block Omega Metals and qualify for Nasdaq SmallCap listing.

&uot;We certainly put the funds to good use, but never foresaw that preferred shareholders, possibly acting in concert with professional short sellers, would create a downward spiral in the common shares to give themselves more shares at artificially low prices. We are delighted that the last of the preferred shareholders has converted. Our common shares now have an unimpeded opportunity to better reflect the growth immediately ahead for American Access,&uot; Story said.

American Access manufactures zone cabling units that mount in ceilings, raised floors, and in custom furniture. The Company's concept of &uot;zone cabling&uot; reduces costs of installation and maintenance by as much as 70%, while providing versatility for voice and data infrastructures.

Publicly-held companies that are customers of American Access include: Sun Microsystems (Nasdaq:SUNW); Lucent Technologies (NYSE:LU); IONA (Nasdaq:IONA); SGI (NYSE:SGI); Baan Company N.V. (Nasdaq:BAANF); Qwest Communications International Inc. (Nasdaq:QWST); Fina, Inc. (NYSE:FIN); First Data Corporation (NYSE:FDC); Gateway 2000 Inc. (NYSE:GTW): Harris Corporation (NYSE:HRS); Household International Inc. (NYSE:HI); Iomega Corporation (NYSE:IOM); Mobil Corporation (NYSE:MOB); Cisco Systems, Inc. (Nasdaq:CSCO) and Level 3 Communications, Inc. (Nasdaq:LVLT).

Several private companies, school districts and other government entities also are American Access customers.

News and product/service information are available at www.aatk.com.

Note: This press release for American Access Technologies, Inc. may contain forward-looking statements as defined in Section 27A of the Securities Exchange Act of 1934, regarding events, conditions and financial trends that may affect the Company's operating results and financial position. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual events or results may differ from the Company's expectations, which are subject to various risks and uncertainties listed in the Company's SEC filings.