Carl Albert Appointed Chairman of the Board of Aura Systems Inc.Business Editors EL SEGUNDO, Calif.--(BUSINESS WIRE)--Feb. 14, 2002 AURA SYSTEMS, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: AURA) announced that the Board of Directors unanimously elected Carl Albert as Chairman of the Board. Carl Albert will assume an active role in the business affairs of the Company, in his capacity as Chairman, beginning March 1, 2002. Mr. Albert was the Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Fairchild Aerospace Corporation, now known as Fairchild Dornier Corporation, and currently serves on the Fairchild Board of Directors. Prior to the acquisition of Fairchild he was the Chairman, CEO and controlling shareholder of Wings West Airlines, a franchisee of American Airlines operating as American Eagle Airlines American Eagle Airlines is a regional airline based in Fort Worth, Texas[1]. It is a airline partner of American Airlines[2] (both wholly owned by the AMR Corporation holding company), operating over 1,800 flights a day, serving 159 cities across the USA, which was acquired by AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. Corporation, parent of American Airlines, in 1988. Mr. Albert acquired the assets of Fairchild in 1990. In 1996, Fairchild acquired Dornier Luftfahrt GmbH from Daimler Benz. In April of 2000, the majority interest in Fairchild Dornier was sold in a $1.2 billion re-capitalization. Mr. Albert has served on the Board of Directors of other public and private companies and practiced business law in Los Angeles, California for 18 years from 1967. He holds a Bachelor degree from the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). at Los Angeles and an LLB LLB abbr. Latin Legum Baccalaureus (Bachelor of Laws) LLB Bachelor of Laws [Latin Legum Baccalaureus] Noun 1. from the University of California at Los Angeles School The Los Angeles School of Urbanism is an academic movement emerged during the mid-1980s, loosely based at the University of Southern California and UCLA, that poses a challenge to the dominant Chicago School of Urbanism. of Law. Mr. Albert has served as a Member of the Board of Directors of Aura since July 2001. Upon his election by the Board to the position of Chairman, Mr. Albert said, "Aura has invested a substantial amount of capital in research and development over the past ten years. Today Aura is in position to deliver a family of mobile power generators which are smaller, deliver better quality power and more value than any other product available." Harry Kurtzman, outgoing Chairman and CEO said, "We are now ready to move to the next level. The leaving management members and I are looking forward to working closely with Mr. Albert and the Aura team to ensure the success of the Company. In particular, we will all work together to ensure a smooth transition to a new management team. On behalf of the outgoing team and in our new role as shareholders, I would like to thank all of our employees for their hard and diligent work, sometimes under difficult conditions, to our suppliers for a job well done and unbelievable support during trying times, and to our shareholders for their patience and support over a very long period." For more information about the AuraGen see the company's website, http://www.aurasystems.com/. Aura Systems, Inc., a leader in electromagnetic systems, is located in El Segundo, CA. "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: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks are described in the Company's Securities and Exchange Commission filings. |
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