American Technology Appoints New Chairman; Chief Executive Steps Down.SAN DIEGO--(BUSINESS WIRE)--June 22, 1998--American Technology Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :ATCO ATCO Air Traffic Control Officer ATCO Association of Transport Coordinating Officers (UK) ATCO Air Tanker/Fixed Wing Coordinator ATCO Aviation Transportation Coordination Office ATCO Air Taxi and Commercial Operator ) today announced that Cornelius J. Brosnan has been appointed as chairman of the Company and that Dale W. Williams has resigned as chairman, chief executive officer and president of the company for personal reasons. Williams, who joined the company in September 1997, will return to his strategic and turnaround consulting practice and will remain available to the company on a consulting basis. "We have initiated a search for Dale's successor and I am confident that with the strength of our technology and growing customer relationships we can fill this position in the short term," said Brosnan. During the pendency Pend´en`cy n. 1. The quality or state of being pendent or suspended. 2. The quality or state of being undecided, or in continuance; suspense; as, the pendency of a suit s>. of the search, Williams' responsibilities will be assumed by Brosnan and other members of management. The company's new chairman, currently vice president of Strategic Planning for Sprint PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. , has served on the board of directors since October 1997. He has championed the company's technologies since serving as vice president of Product Planning for Samsung North America. "ATC ATC Air Traffic Control ATC Average Total Cost ATC Certified Athletic Trainer ATC At the Center (Hartford, Maine retreat center) ATC Applied Technology Council ATC All Things Considered has a talented team in place and I will be available to support the commercialization of HSS HSS Humanities and Social Sciences HSS High Speed Steel HSS Home Subscriber Server (3GPP) HSS Hospital for Special Surgery (New York, NY, USA) HSS Hospital for Special Surgery HSS History of Science Society and SFT technologies," said Williams. "The Company has made tremendous progress in bringing its technologies from the lab to market, greatly expanding its patent portfolio and focusing marketing efforts on the leading consumer electronics producers." American Technology Corp. is a San Diego-based electronics company specializing in the development, marketing and licensing of leading-edge proprietary acoustical technologies and electronic products. For more information on the company and its products visit www.atcsd.com. Safe Harbor statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements in this news release looking-forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the electronic products markets, variations in the Company's cash flow, market acceptance risks, technical development risks, seasonality and other risk factors detailed in the Company's Securities and Exchange Commission filings.
CONTACT: American Technology
Robert Putnam, 619/679-3168
http://www.atcsd.com
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