May
May 25, 2006
Contact: Alison Ziegler, Cameron Associates 212.554.5469
alison@cameronassoc.com
JOHN W. POLING JOINS AMERICAN ECOLOGY BOARD OF DIRECTORS
BOISE, Idaho – May 25, 2006 – American Ecology Corporation [NASDAQ: ECOL] today announced the appointment of John W. Poling, age 60, to the Company’s Board of Directors. Poling joins newly elected Chairman Kenneth C. Leung and fellow Directors Roy C. Eliff, Edward F. Heil, Richard Riazzi, Jimmy D. Ross, Richard T. Swope, and President and Chief Executive Officer Stephen A. Romano on the Board. Poling will serve on the Board’s audit and compensation committees.
“John Poling’s extensive experience as a senior financial officer in the environmental industry will be a great asset to American Ecology as we continue to execute our growth strategy,” stated Stephen Romano. “John is also a qualified financial expert who chairs the audit committees of two other public companies, and we look forward to his future contributions to American Ecology,” Romano added.
Poling’s background includes more than 25 years of diverse environmental industry experience as a financial executive with experience developing operational reporting and control systems, raising capital through both debt and equity offerings, preparing financial reports and executing mergers and acquisitions.
Since 2004, Poling has been Chief Financial Officer, Executive Vice President and a director at The Tube Media Corporation, a music television network. From 2002 to 2004, Poling was a partner at financial consulting and information technology firm Tatum Partners. Prior to 2002, he served as Chief Financial Officer and in other executive positions with U.S. Plastic Lumber Corporation, Roy F. Weston, and Envirosource Technologies (previous owner of the Grand View, Idaho waste disposal facility purchased by American Ecology in February 2001). Poling presently chairs the audit committees for Kreisler Manufacturing Company and System One Technologies, Inc.
American Ecology Corporation, through its subsidiaries, provides radioactive, PCB, hazardous and non-hazardous waste services to commercial and government customers throughout the United States, such as nuclear power plants, steel mills, medical and academic institutions, refineries and chemical manufacturing facilities. Headquartered in Boise, Idaho, the Company is the nation’s oldest radioactive and hazardous waste services provider, having operated for more than fifty years.
This press release contains forward-looking statements that are based on our current expectations, beliefs and assumptions about the industry and markets in which American Ecology Corporation and its subsidiaries operate. Actual results may differ materially from what is expressed herein and no assurance can be given that the company will successfully execute its growth strategy. For information on other factors that could cause actual results to differ from expectations please refer to American Ecology Corporation’s 2005 Annual Report on Form 10-K and quarterly report on Form 10-Q filed with the Securities and Exchange Commission on May 2, 2006.
May 1, 2006
Contact: Alison Ziegler, Cameron Associates 212.554.5469
alison@cameronassoc.com
AMERICAN ECOLOGY ADDRESSES NASDAQ STAFF DEFICIENCY LETTER
Director Kenneth Leung to Leave Compensation Committee at May Board Meeting
BOISE, Idaho May 1, 2006 – On April 26, 2006 American Ecology Corporation [NASDAQ: ECOL] received a Nasdaq staff deficiency letter indicating that it does not meet the requirements for independent director approval of executive compensation for continued listing set forth in Marketplace Rule 4350(c)(3). Kenneth Leung, chairman of the Company’s compensation committee, ceased being an independent director on March 29, 2006, when Sanders Morris Harris (where Mr. Leung serves as a Managing Director) entered an agreement with the Company for financial advisory services. The Company will address the Rule 4350(c)(3) deficiency, pursuant to a prior agreement with Mr. Leung, whereby he will decline reappointment to the compensation committee when the newly elected Board of Directors meets and sets committee membership following the Company’s May 25, 2006 annual shareholders meeting. The Compensation Committee has not met since March 29, 2006 and will not meet prior to May 25, 2006.
American Ecology Corporation, through its subsidiaries, provides radioactive, PCB, hazardous and non-hazardous waste services to commercial and government customers throughout the United States, such as nuclear power plants, steel mills, medical and academic institutions, refineries and chemical manufacturing facilities. Headquartered in Boise, Idaho, the Company is the nation’s oldest radioactive and hazardous waste services provider, having operated for more than fifty years.
This press release contains forward-looking statements that are based on our current expectations, beliefs and assumptions about the industry and markets in which American Ecology Corporation and its subsidiaries operate. Actual results may differ materially from what is expressed herein and no assurance can be given that the company’s response will fully address the Nasdaq staff deficiency letter. For information on other factors that could cause actual results to differ from expectations please refer to American Ecology Corporation’s 2005 Annual Report on Form 10-K and quarterly report on Form 10-Q filed with the Securities and Exchange Commission on May 1, 2006.