American Superconductor Names Eric Snitgen General Manager of Its HTS Technologies Business Unit.

Business/Technology Editors

WESTBOROUGH, Mass.--(BUSINESS WIRE)--Nov. 15, 2000

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American Superconductor Corporation (Nasdaq:AMSC) announced today that Eric Snitgen, an accomplished wire and cable industry executive, has been named general manager of the company's High Temperature Superconductor (HTS) Technologies business unit. The company is a world leader in the development and commercialization of HTS wires, which are core to the company's product development efforts focused on improving the capacity, quality and reliability of the power grid.

Mr. Snitgen will manage and lead all aspects of American Superconductor's HTS Technologies business unit, including product development, manufacturing, marketing and distribution of the company's HTS wires.

One of Mr. Snitgen's key responsibilities will be to oversee the ramp-up in production of HTS wire. In August 2000, American Superconductor broke ground for the world's first commercial HTS wire manufacturing plant in Devens, Massachusetts. The company plans to commence production from this new plant in 2002 at a rate of 10,000 kilometers per year, a factor of 20 times the current annual rate of production.

"Eric Snitgen's extensive experience and demonstrated business successes add tremendous leadership and management strength to our team of highly talented, industry veterans," said Greg Yurek, American Superconductor's chief executive officer. "We anticipate rapid growth in demand for our HTS products over the next several years - Eric and his team will be at the heart of American Superconductor's efforts to meet this demand."

For the past eight years, Mr. Snitgen worked for Hendrix Wire and Cable, Inc., where he was most recently Vice President and General Manager for overhead power transmission and distribution products. In that role, he dramatically increased sales and net income, introduced new products, added new customers and expanded the business geographically in the U.S. and internationally. Prior to becoming a general manager, Mr. Snitgen was Hendrix's Vice President of Sales and Marketing. Before joining Hendrix, he spent 10 years with Cooper Power Systems where he served in key sales, marketing and product management roles.

A native of Michigan, Mr. Snitgen holds a bachelor's degree in Environmental Science from Grand Valley State College and an MBA from the University of Wisconsin.

American Superconductor (AMSC)

AMSC, with headquarters in Westborough, Mass., was founded in 1987 and is a world leader in developing and manufacturing products utilizing superconducting materials and solid-state power electronic devices for the power infrastructure. The company's products, and products sold by electrical equipment manufacturers that incorporate its products, can dramatically increase the capacity and reliability of power delivery networks, significantly reduce the manufacturing costs of electrical equipment such as motors and generators, lower electrical operating costs and conserve resources that are used to produce electric power. AMSC's web site is http://www.amsuper.com.

Certain statements in this release, including statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions, constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are a number of important factors that could cause actual results to differ materially from those indicated by such forward-looking statements. Such factors include the uncertainties that the company will be able to obtain the anticipated funding from corporate and government contracts; the company will be able to successfully develop and manufacture additional commercial products; a robust market will develop for the company's products; and the company will secure anticipated orders. Additionally such factors include: the risk that strategic alliances and other contracts may be terminated; the risk that certain technologies utilized by the company will infringe intellectual property rights of others; the competition encountered by the company; the amount and timing of the company's future cash requirements and the availability of satisfactory financing sources. Reference is made to these and other factors discussed in the "Management's Discussion and Analysis of Financial Condition and Results of Operation" section of the company's periodic reports filed with the Securities and Exchange Commission