American Science and Engineering, Inc.; AS&E Announces Arrival of New Chief Financial Officer.

Business/Technology Editors

BILLERICA, Mass.--(BUSINESS WIRE)--June 27, 2001

American Science & Engineering, Inc. (AMEX:ASE) announced today that Andrew R. Morrison has joined the company as Chief Financial Officer. Mr. Morrison will be responsible for all control, treasury, finance, financial planning, as well as tax and information technology functions. In addition, he will function as the principal IR contact for investors and the broader financial community.

Ralph Sheridan, AS&E's President and CEO, commented, "Andrew brings a wealth of international treasury finance experience that will be invaluable in accelerating the development of the global market for trade fraud. In addition, his experience with international operations and financial and risk management tools are important as we broaden the global reach of our field operations."

Mr. Morrison comes to AS&E after serving as Chief Financial Officer for Digital Goods, an internet company marketing digital content on the Web. This followed his successful tenure as CFO at AAF-McQuay, Inc., a billion dollar HVAC and filtration company with diverse international marketing, distribution and manufacturing. While at AAF-McQuay, he played a key business development role in leading strategic alliances, as well as a number of acquisition and divestiture initiatives. Prior to this, Mr. Morrison held positions with both BP Oil Company and Gulf Oil Company. Mr. Morrison holds a BA in Political Science and Psychology from the University of Rochester and an MBA from the University of Chicago.

AS&E develops and manufactures sophisticated X-ray inspection products for critical detection and security applications. AS&E's patented Z(R)Backscatter technology detects plastic explosives, illegal drugs, and other contraband, even when artfully concealed in complex backgrounds by terrorists and smugglers. For more information on AS&E products and technologies, please visit the Company's web site at http://www.as-e.com.

Safe Harbor Statement

The foregoing press release contains statements concerning the Company's financial performance and business operations which may be considered "forward-looking" under applicable securities laws. The Company wishes to caution readers of this press release that actual results might differ materially from those projected in any forward-looking statements.Factors which might cause actual results to differ materially from those projected in the forward-looking statement contained herein include the following: significant reductions or delays in procurements of the Company's systems by the United States and other governments; disruption in the supply of any sole-source component incorporated into the Company's products (of which there are several); litigation seeking to restrict the use of intellectual property used by the Company; potential product liability claims against the Company; global political trends and events which affect public perception of the threat presented by drugs, explosives and other contraband; global economic developments and the ability of governments and private organizations to fund purchases of the Company's products to address such threats; and the potential insufficiency of Company resources, including human resources, capital, plant and equipment and management systems, to accommodate any future growth. These and certain other factors which might cause actual results to differ materially from those projected are more fully set forth under the caption "Risk Factors" in the Company's Registration Statement on Form S-3 (SEC File No. 333-9151).