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AMERICAN FILM POSTS STRONG TURNAROUND FOR FOURTH QUARTER AND FISCAL YEAR

 AMERICAN FILM POSTS STRONG TURNAROUND
 FOR FOURTH QUARTER AND FISCAL YEAR
 NORTH HOLLYWOOD, Calif., Sept. 15 /PRNewswire/ -- American Film Technologies Inc. (NASDAQ: AFTI) achieved higher revenues and a sharp turnaround in its earnings in the fourth quarter and fiscal 1992 as a whole, reflecting strength in both its animation and film coloring operations.
 For the fiscal year ended June 30, 1992, revenues increased to $14,089,000 from $9,835,000 in fiscal 1991. Net income was $902,000, equal to 8 cents per share, as against a net loss of $6,461,000, or 61 cents per share, in the prior year.
 For the fourth quarter, revenues advanced to $4,053,000 from $3,124,000 in the year-ago quarter. Net income was $189,000, equal to 2 cents per share, compared to a net loss of $1,983,000, or 20 cents per share, in the same quarter last year.
 Joseph Taritero, chairman and chief executive officer, commented: "American Film Technologies' four profitable quarters this year resulted from the combination of our growing success in computer- assisted animation work and our position as the largest, lowest-cost provider of quality film coloring services to the worldwide market.
 "As pleased as we are by the improvement over last year, we are convinced that fiscal 1992 is only the beginning of further, significant growth for our company.
 "In fiscal 1992 we completed our first animated short for theatrical release, Gahan Wilson's 'Diner' for Marvel Productions and Fox Film Corp. In addition, in March of this year, we were awarded a contract to provide digital ink, paint and special effect services for Steven Spielberg's next animated feature film, 'We're Back,' produced by Amblin Entertainment in association with Universal Pictures, which will be released in 1993.
 "American Film Technologies has also entered into a partnership with Tokyo-based Tsuburaya Productions Co. Ltd. for joint operation of an animation studio in China. The studio will be using our proprietary computer animation system in the production of non- theatrical and television animation projects for both the U.S. and Japanese markets.
 "We see a bright future for our animation services, not only due to the growth of this market, both domestically and internationally, but also because AFT's technology offers producers better quality control, shorter turnaround time, and competitive pricing.
 "In fiscal 1991, AFT moved a portion of our film coloring operations to Mexico, which significantly lowered our costs this past year. This change is helping us maintain our 70 to 80 percent of the market, and lower cost coloring is now allowing us to expand our client base to owners of black-and-white television series.
 "This expanded client base is demonstrated by the recently completed colorizing of 78 half-hour episodes of the 1957-59 black- and-white television series "Zorro" for the Disney Channel."
 Taritero concluded: "American Film Technologies has entered the new year with the brightest prospects in the company's history. We have the dedicated people, cutting-edge technology and expanding facilities not only to continue AFT's growth, but to accelerate it. The important steps we've taken in the last year to build our business on an international scale will pay increasing dividends in the years ahead."
 American Film Technologies Inc. provides animation production services, special effects and computer-assisted digital ink and paint services for original television and theatrical film producers. The company also creates color versions of black-and-white motion pictures and television productions.
 AMERICAN FILM TECHNOLOGIES INC.
 Statement of Earnings
 Three Months Ended June 30,
 1992 1991
 Revenues $4,053,000 $3,124,000
 Net income (loss) $189,000 ($1,983,000)
 Net income (loss) per
 common share $.02 ($.20)
 Weighted average shares
 outstanding 10,773,302 10,663,600
 Fiscal Year Ended June 30,
 1992 1991
 Revenues $14,089,000 $9,835,000
 Net income (loss) $902,000 ($6,461,000)
 Net income (loss) per
 common share $.08 ($.61)
 Weighted average shares
 outstanding 10,773,302 10,663,000
 -0- 9/15/92
 /CONTACT: Joseph TariteroN: ENT SU: ERN


KJ-JB -- LA002 -- 9480 09/15/92 09:04 EDT
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Date:Sep 15, 1992
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