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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Sandra who wrote (7453)	8/3/1998 8:10:00 AM
From: Redhead	Read Replies (1) \| Respond to of 29382

The amigas are the news bearers this morning....news on AIRM biz.yahoo.com Monday August 3, 7:40 am Eastern Time Company Press Release SOURCE: Air Methods Corporation Air Methods Awarded $3.3 Million In New Products Division Contracts - Revenue Recognition Begins in 3Q98 - DENVER, Aug. 3 /PRNewswire/ -- Air Methods Corporation's (Nasdaq: AIRM - news) Products Division has been awarded approximately $3.3 million in three new military and commercial contracts. The new contracts are part of the Company's strategic plan to build up and diversify the Products Division base of business by exploiting its growing line of patented multi-mission medical interior products and Air Methods' ability to function as a prime contractor to the military. George Belsey, Chairman and CEO, said work on the new contracts has already begun and is expected to continue through the commencement of the next phase of the Army's BlackHawk helicopter modernization program. The Army plan calls for retrofitting 447 UH-60Q BlackHawks over the next 10-20 years with a Multi-Mission Medevac Interior System designed and manufactured by Air Methods. Funds for the next seven units have been allocated within the Army, but work is not expected to be authorized until later this year. Michael G. Prieto, Vice President of the Products Division, said the largest of the new contracts is the result of Air Methods being selected as a prime contractor by a branch of the U.S. Department of Defense to develop and manufacture on a cost-plus basis a medical-related emergency transportation system. Details will be announced at a later date. The second contract is with Petroleum Helicopter, Inc. (Nasdaq: PHEL - news) for medical interior systems for two Bell 214ST helicopters that will be operated by Saudi Aramco to service oil platforms in the Persian Gulf. The interior will include Air Methods' patented Articulating Patient Loading System (APLS) and Modular Medical Cabinet (MMC). The third contract is an option award exercised by Police Aviation Services of the United Kingdom for Air Methods' patented Multi-Functional Floors (MMF) for two Boeing MD902 helicopters. This MMF enables operators to re-configure aircraft from medical evacuation to police surveillance within minutes. Air Methods Corporation is a leading provider in the estimated $1 billion market for aeromedical services. In addition to its Flight Services Division, Air Methods' Mercy Air subsidiary is one of the largest independent providers of air medical services. The Products Division specializes in the design and manufacture of multi-functional interior products and systems for commercial and government agencies, domestically and internationally. The Company's fleet of owned, leased or maintained aircraft features 38 helicopters and 5 fixed wing aircraft. Forward Looking Statements: This news release includes certain forward-looking statements, which are subject to various risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including but not limited to the size, structure and growth of the Company's flight services and products markets; the continuation and/or renewal of flight service contracts; the acquisition of new and profitable Products Division contracts and other flight service operations; the successful expansion of Mercy Air operations; continued royalty revenue from the Company's foreign franchise, and other matters. CONTACTS: Michael G. Prieto, Vice President of the Products Division, Air Methods, 303-792-7484; Gary Fishman and Kimberly Boshara, Investor Relations, Air Methods, 212-527-4808 SOURCE: Air Methods Corporation