American Superconductor appoints Kevin Bisson CFO

WESTBOROUGH, Mass., May 13, 2003 — American Superconductor Corp., an electricity solutions company, has appointed Kevin Bisson as senior vice president and chief financial officer.

Bisson, 42, has two decades of experience in corporate finance and strategic financial planning and analysis. Most recently he was vice president, controller and treasurer for Axcelis Technologies, Inc., a semiconductor capital equipment manufacturer with $310 million in revenues and overseas joint ventures.

During his three-year tenure at Axcelis, Bisson oversaw a 60-person finance department, served as acting CFO for the company’s initial public offering and restructured its financial management and reporting systems.

From 1989 to 2000, Bisson held several senior financial positions with Hamilton Sundstrand, Hamilton Standard and Carrier Corporation, all units of Connecticut-based United Technologies Corporation (NYSE: UTX), a $28 billion multi-national conglomerate. At United Technologies, Bisson managed acquisitions, divestitures, and restructurings for domestic and international operations.

From 1983 to 1987, Bisson was a senior accountant with Arthur Andersen & Company’s Boston office. Bisson has an MBA degree from the University of Virginia and a bachelor’s degree in accounting from Boston College and is a certified public accountant.

“During the last year we have reshaped AMSC’s senior management team to be aligned with the accelerating market momentum we are now experiencing,” said Greg Yurek, chief executive of American Superconductor. “Kevin has a strong background in manufacturing and financial operations at large, global companies. He joins us at an exciting time and becomes part of a core team of executives that has the expertise, experience and commitment to drive AMSC to the next level of success. We are delighted to have him on board.”

“The opportunity to join AMSC at this stage of its growth is extremely appealing,” Bisson said. “I look forward to working with the AMSC executive team and the board of directors to help this company achieve its enormous potential.”

About American Superconductor Corp.

American Superconductor develops solutions and manufactures products to dramatically improve the cost, efficiency and reliability of systems that generate, deliver and use electric power. The company has a vertically integrated portfolio of products supported by more than 500 patents, patent applications, and licenses covering technologies fundamental to Revolutionizing the Way the World Uses Electricityà¢â€ž-.

Products from AMSC include High Temperature Superconductor wire for electric power, transportation, medical and industrial processing applications; HTS motors and generators for ship propulsion; and advanced power electronic systems that ensure the quality and reliability of electricity for residential, commercial and industrial customers. More information is available at www.amsuper.com.

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