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New
Release -- Superconductor Week does not edit or endorse the following
news release:
American Superconductor Bolsters Corporate
Governance Practices
Westborough, MA, June 27: American
Superconductor Corporation (NASDAQ:
AMSC), a leading energy technologies company, announced today that its Board
of Directors has undertaken a number of steps to enhance the company's corporate
governance practices. The Board of Directors reconstituted the Nominating
Committee as the Nominating and Corporate Governance Committee and adopted a
Nominating and Corporate Governance Committee charter. The Board also adopted a
new set of corporate governance guidelines.
In addition to these actions, American Superconductor's Board of Directors voted
on June 20, 2006 to terminate the company's shareholder rights plan (also known
as a poison pill) effective as of June 30, 2006.
"Our Board of Directors has always acted in the best interest of AMSC
shareholders," said Greg Yurek, chairman and chief executive officer. "These
latest proactive changes create an even stronger Board and committee structure
and further align our corporate governance with today's best practices."
Copies of AMSC's code of business conduct and ethics, corporate governance
guidelines and charters for its Audit, Compensation and Nominating and Corporate
Governance committees are available on the company's website at http://www.amsuper.com/investors/governance.cfm.
American Superconductor's Annual Meeting of Stockholders will be held at the
company's corporate headquarters -- located at Two Technology Drive,
Westborough, Massachusetts -- on Thursday, July 27, 2006 at 9:00 a.m. The
company's proxy was filed with the Securities and Exchange Commission on June
23, 2006. A copy of this filing can be accessed by visiting
http://www.amsuper.com/investors/filings.cfm.
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