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AMERICAN EDUCATIONAL PRODUCTS ANNOUNCES MANAGEMENT APPOINTMENTS; NEW CFO AND NEW LEADERSHIP FOR KEY MANUFACTURING DIVISIONS

 BOULDER, Colo., Jan. 17 /PRNewswire/ -- American Educational Products, Inc. (NASDAQ: AMEP) today announced two promotions within its key management group. John E. Panasewicz, formerly the company's vice president and chief financial officer, has been named to the new position of general manager, Scott Resources and Hubbard Scientific. Monty Jennings, formerly controller of the company, will replace Panasewicz as chief financial officer.
 The appointments are the result of the realignment of the company's management group to reflect AEP's two distinct areas of business: catalog mail-order marketing and distribution of educational products (Summit Learning); and educational product manufacturing and marketing (Scott Resources and Hubbard Scientific). Last summer, AEP named a veteran catalog marketer to lead Summit Learning, and to develop its test marketing of a new catalog of educational/play products for the consumer market. At about the same time, the company organized Scott Resources and Hubbard Scientific within a single structure, and named a vice president of sales and marketing for those two divisions. Paul Whittle, president and CEO of American Educational Products, had been the interim chief for Scott and Hubbard.
 Panasewicz had been vice president, finance and chief financial officer of AEP since 1991. Prior to joining the company, he was a co- founder and director of Productivity Point International, a Colorado- based software training firm. From 1980 to 1984, he was chief financial officer of PureCycle Corporation, a publicly held high-technology company. He also served on the corporate finance staffs of Amoco Oil and FMC Corporation. Panasewicz holds an M.B.A. in finance from the Wharton School of the University of Pennsylvania and a bachelor's degree in electrical engineering from Carnegie-Mellon University.
 Monty Jennings joined AEP as controller in 1993. He was previously assistant controller and internal audit director for Maxtor Corporation, Longmont, Colo. Prior to that, he was manager, East Coast management audit for The Walt Disney Company in Orlando, Fla. He is a CPA and spent 11 years at Coopers & Lybrand in Houston. He received an M.B.A. in finance from Indiana University and a bachelor's degree in economics from Austin College.
 American Educational Products, Inc., headquartered in Boulder, is comprised of three wholly owned subsidiaries: Summit Learning, Hubbard Scientific and Scott Resources. AEP's subsidiaries develop, manufacture and distribute hands-on educational products for the pre-K-12 school market and for parents interested in helping their children learn at home.
 -0- 01/17/94
 /CONTACT: John Swenson of Swenson/Falker Associates, 612-371-0000; or Paul Whittle of American Educational Products, 303-443-0020/
 (AMEP)


CO: American Educational Products ST: Colorado IN: PUB SU: PER

CP-DB -- MN007 -- 1286 01/17/94 11:23 EST
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Publication:PR Newswire
Date:Jan 17, 1994
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