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American Superconductor Selected by United Defense For U.S. Army's Electro-Thermal Chemical Gun Project AMSC To Develop High Voltage Charger For Advanced Weapon's Firing System Using Its PM1000 PowerModule(TM) Power Electronic Converters WESTBOROUGH, Mass., Nov. 24 /PRNewswire-FirstCall/ -- American Superconductor Corporation , a leading electricity solutions company, today announced that it has been selected by United Defense Industries, Inc. , as a subcontractor for the Electro-Thermal Ignition Pulsed Power System (ETIPPS) that United Defense is developing for the U.S. Army Armament Research, Development and Engineering Center (ARDEC). ETIPPS is a firing system that is being designed for use with electro-thermal chemical (ETC) guns, an advanced weapon technology for future artillery, battle tank and infantry fighting vehicles. AMSC is using its PM1000 PowerModule power electronic converters to develop a high voltage charger (HV charger) for ETIPPS. The HV charger will convert the 600 volts supplied by the military vehicle's battery system to the 7,000 volts of charging power needed to arm ETIPPS prior to firing the weapon. This PM1000 application follows one announced by AMSC in May 2003, in which the PM1000 was selected for use in a shipboard generator application for the British Royal Navy (see http://www.amsuper.com/html/newsEvents/news/105309461641.html). (Logo: http://www.newscom.com/cgi-bin/prnh/20020702/AMSCLOGO ) "American Superconductor's proven ability to design and deliver state-of- the-art high voltage solutions quickly makes them an ideal technology partner for the ETIPPS project," said Juleigh Herbig, leader of the ETIPPS Project at United Defense. "Their PM1000 power converters have a flexible, modular design, are extremely compact and offer very high power density - all critical attributes for ETIPPS. We look forward to working closely with AMSC on this important new gun technology for the U.S. Army." ETC guns use pulsed power, in which large amounts of stored electrical energy are released over a matter of milliseconds, to augment and control the release of chemical energy from conventional and advanced projectile propellants. ETIPPS is a gun firing system that uses pulsed power to ignite the propellant used by an ETC gun. ETC guns can fire smart munitions, insensitive munitions, and conventional rounds and are more accurate than conventional guns. "Our selection by United Defense for this important project is a tribute to the extraordinary capability of our PM1000 PowerModule power electronic converters," said Chuck Stankiewicz, vice president and general manager of the Power Electronic Systems business unit at American Superconductor. "This is the second defense industry order for our PM1000 converters this fiscal year. We are seeing increasing interest from defense sector companies who are learning what our electric power grid customers know - our PowerModule-based systems are robust and reliable and they are also particularly well-suited to rapid prototyping, which helps keep challenging projects such as ETIPPS on track." About PM1000 PowerModule(TM) Power Electronic Converters AMSC's family of PowerModule power converters has been proven in the field with hundreds integrated into numerous power electronic solutions. The PM1000 is the latest AMSC power electronic converter and operates with high efficiency in a very small package. PM1000 power converters are based on AMSC's Power Electronic Building Block (PEBB) technology, a highly flexible, programmable and scalable design architecture that enables them to be employed in a variety of applications. The PM1000 is an intelligent and fully integrated, compact power converter that yields a very high power density. For a given power conversion application, the volume of a PowerModule-based solution is typically one-third the volume of other converter solutions on the market. For more information on AMSC's PowerModule product line, please see http://www.amsuper.com/html/products/powerConversion/index.html. About United Defense United Defense designs, develops and produces combat vehicles, artillery, naval guns, missile launchers and precision munitions used by the U.S. Department of Defense and allies worldwide, and provides non-nuclear ship repair, modernization and conversion to the U.S. Navy and other U.S. Government agencies. To learn more about United Defense, visit http://www.uniteddefense.com/. About American Superconductor Corporation (NASDAQ:AMSC) AMSC is a world-leading supplier of dynamic reactive power grid stabilization products and the world's principal vendor of high temperature superconductor (HTS) wire and large rotating superconductor machinery. AMSC's power electronic converters and HTS wire are at the core of a broad range of new electricity transmission and distribution, transportation, medical and industrial processing applications, including dynamic reactive power grid stabilization solutions, large ship propulsion motors and generators, smart, controllable, superconductor power cables and advanced defense systems. The company's products are supported by hundreds of patents and licenses covering technologies fundamental to Revolutionizing the Way the World Uses Electricity(TM). More information is available at www.amsuper.com. American Superconductor, PM1000, PM1000 PowerModule, PowerModule and Revolutionizing the Way the World Uses Electricity are trademarks of American Superconductor Corporation. All other trademarks are the property of their respective owners. Any statements in this release about future expectations, plans and prospects for the Company, 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: uncertainties regarding the Company's ability to obtain anticipated funding from corporate and government contracts, to successfully develop, manufacture and market commercial products, and to secure anticipated orders; the risk that a robust market may not develop for the Company's products; 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, including several large Japanese companies. 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 most recent quarterly or annual report filed with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this release. While the Company anticipates that subsequent events and developments may cause the Company's views to change, the Company specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date this press release is issued. AMSC Media Contacts: Adam Banker +508-621-4375 AMSC Investor Contact: Mary Ryan +508-621-4432 http://www.newscom.com/cgi-bin/prnh/20020702/AMSCLOGO http://photoarchive.ap.org/ DATASOURCE: American Superconductor Corporation CONTACT: Media, Adam Banker, +508-621-4375, , or Investor, Mary Ryan, +508-621-4432, , both of American Superconductor Corporation Web site: http://www.amsuper.com/

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