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July July 05, 2001 | July 09, 2001| July 30, 2001 July
5, 2001 AMERICAN ECOLOGY SUBSIDIARY AWARDED $1.5 MILLION CONTRACT Field
Services Group to Decommission Closed Waste Processing Plant in Tennessee
The Tennessee Department of Environment and Conservation awarded the competitively bid contract to US Ecology's Oak Ridge-based Field Services Division to decommission the M4 radioactive and hazardous waste processing facility. US Ecology and teaming partner D.F. Shoffner, Inc. will identify, remove, transport and dispose of radiological and chemical contaminants from the M4 site and coordinate with the state on post- cleanup activities. "This award continues the successful expansion of our Field Services business," Barbara Trenary, President of American Ecology's Nuclear Division commented. "We are particularly pleased to serve the State of Tennessee on this important environmental remediation effort," Trenary added. American Ecology Corporation, through its subsidiaries, provides radioactive, PCB, hazardous and solid waste services to commercial and government customers throughout the United States, such as nuclear power plants, medical and academic institutions, agricultural companies, steel mills and petro-chemical facilities. The company provides scientific solutions that protect people and the environment. Headquartered in Boise, Idaho, the Company is the oldest radioactive and hazardous waste services company in the United States. This press release contains certain forward-looking information and statements. Actual results and future contract awards may differ materially from what is expressed in these forward-looking statements and there can be no assurance given that the Company will secure additional field services contracts. For additional information, please refer to American Ecology Corporation's most recent quarterly and annual reports filed with the Securities and Exchange Commission. July 9, 2001 Contact: Stephen Romano 208.331.8400 info@americanecology.com AMERICAN ECOLOGY COMPLETES STOCK TRANSACTION Transaction Reduces Large Number
of Odd-Lot Shareholders On March 27, 2001 the company issued a definitive proxy statement requesting that shareholders vote in favor of the reverse and forward stock split proposal. At the May 24th, 2001, annual shareholders meeting 12,798,986 votes were cast in favor of the proposal, 71,293 against, and 49,399 abstained. Consistent with the rules and regulations of the NASDAQ National Market, the company's stock symbol, "ECOL," has been temporarily denoted for twenty days of market trading with a suffix "D". The company's symbol will return to the standard "ECOL" by July 31, 2001. "It is important that the investing public understand that this is an administrative housekeeping matter and was not financially-motivated," Baumgardner stated, concluding "the transaction has no substantive impact on registered shareholders with more than 100 shares of stock." American Ecology Corporation, through its subsidiaries, provides a variety of radioactive, PCB, hazardous and non-hazardous waste services to commercial and government customers throughout the United States, such as nuclear power plants, medical and academic institutions, steel mills and petro-chemical facilities. The company provides scientific solutions that protect people and the environment. Headquartered in Boise, Idaho, the Company is the oldest radioactive and hazardous waste services company in the United States. This press release may contain 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 and expected savings may differ materially from what is expressed herein. For information regarding the reverse and forward stock split and on factors that could cause actual results to differ from expectations, please refer to American Ecology Corporation's Annual Proxy Statement and Reports on Form 10-K and 10-Q filed with the Securities and Exchange Commission. July
30, 2001 AMERICAN ECOLOGY POSTS 34% REVENUE INCREASE YEAR TO DATE Seventh
Consecutive Profitable Quarter For the 3 months ending June 30, 2001, revenue reached $13.7 million or a 31% increase over the second quarter of 2000. Net income for the quarter ended June 30, 2001 was $326,000 compared to net income of $764,000 for the same period in 2000. Basic earnings per share declined to $.02, from $.05 for the same period last year. Operating losses incurred by the company's Oak Ridge facility during the first six months of the year were responsible for the decline in earnings. "The quarterly and year-to-date revenue growth reflects the strength of our core disposal business and the continued contribution from the Grand View, Idaho hazardous disposal facility acquired in February 2001," Baumgardner stated. Also contributing significantly to the second quarter financial results were the company's low-level radioactive waste repository in Richland, Washington and the Beatty, Nevada hazardous waste disposal facility. "We are particularly pleased with the Beatty results," Baumgardner noted, explaining "the company's successful marketing of thermal treatment and recovery technology boosted Beatty earnings in the quarter just ended." In Texas, the company's El Centro municipal solid waste landfill posted another record quarter. However, changing market conditions in the south Texas solid waste disposal market could negatively impact future revenue and earnings. While the company's radioactive waste processing operation at Oak Ridge, Tennessee eliminated a longstanding backlog of aged waste during the quarter, the significant commitment of resources applied to this effort and related operational inefficiencies resulted in a net operating loss for the facility in the first and second quarters. "With the aged waste removed, a significant impediment to Oak Ridge profitability has been eliminated," Baumgardner stated, adding "We are cautiously optimistic that Oak Ridge's financial performance will improve in the second half of year. The improved Oak Ridge outlook, combined with newly implemented cost controls and continued thermal treatment marketing at Beatty, is expected to generate improved earnings the remainder of the year." The Company will hold its quarterly investor conference call on Monday, July 30, 2001 at 10:00 am MDT. Interested parties are invited to submit questions in advance to info@americanecology.com, or by facsimile to 208.331.7900. To join the call, investors and other interested parties may dial 1.877.679.9055. American Ecology Corporation, through its subsidiaries, provides a variety of radioactive, PCB, hazardous and non-hazardous waste services to commercial and government customers throughout the United States, such as nuclear power plants, medical and academic institutions, steel mills and petro-chemical facilities. The company provides scientific solutions that protect people and the environment. Headquartered in Boise, Idaho, the Company is the oldest radioactive and hazardous waste services company in the United States. This press release contains forward-looking statements that are based on our current expectations, beliefs, and assumptions about the 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 can successfully implement its growth strategy, generate future earnings, overcome its operating difficulties at its Oak Ridge facility, or prevail in pending litigation. For information on factors that could cause actual results to differ from expectations, please refer to American Ecology Corporation's Report on Form 10-K and 10-Q filed with the Securities and Exchange Commission.
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