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Walt Disney World Co. and Environmental Tectonics Corporation Announce the Settlement of All Litigation Relating to Mission: Space

Posted on: Tuesday, 6 January 2009, 06:30 CST

SOUTHAMPTON, Pa., Jan. 6 /PRNewswire-FirstCall/ -- Walt Disney World Co. ("Disney") and Environmental Tectonics Corporation (Amex: ETC) ("ETC" or the "Company") today jointly announce a confidential final settlement of all litigation relating to the design and development of the Mission: Space attraction at EPCOT.

Although the terms of the settlement are confidential, Peter E. Steinman, Senior Vice President and General Counsel of Walt Disney Imagineering, stated that "Disney very much appreciates the role that ETC played in the design and development of Mission: Space. The centrifuge technology expertise and experience that ETC brought to the project was very important." William F. Mitchell, Sr., President and CEO of ETC, stated that "we are pleased that we have resolved our differences with Disney on an amicable basis. ETC was proud to work on Disney's spectacular Mission: Space attraction."

ETC designs, develops, installs and maintains aircrew training systems (aeromedical, tactical combat and general), disaster management training systems and services, entertainment products, sterilizers (steam and gas), environmental testing products, hyperbaric chambers and related products for domestic and international customers.

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on ETC's current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC's and its subsidiaries that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

These forward-looking statements include statements with respect to the Company's vision, mission, strategies, goals, beliefs, plans, objectives, expectations, anticipations, estimates, intentions, financial condition, results of operations, future performance and business of the company, including but not limited to, (i) potential additional funding by Lenfest, (ii) the potential delisting of the Company's common stock from the American Stock Exchange as a result of the Company's failure to comply with the AMEX listing standards, (iii) projections of revenues, costs of materials, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, capital structure, other financial items and the effects of currency fluctuations, (iv) statements of our plans and objectives of the Company or its management or Board of Directors, including the introduction of new products, or estimates or predictions of actions of customers, suppliers, competitors or regulatory authorities, (v) statements of future economic performance, (vi) statements of assumptions and other statements about the Company or its business, (vii) statements made about the possible outcomes of litigation involving the Company; (viii) statements regarding the Company's ability to obtain financing to support its operations and other expenses, and (ix) statements preceded by, followed by or that include the words, "may," "could," "should," "looking forward," "would," "believe," "expect," "anticipate," "estimate," "intend," "plan," or the negative of such terms or similar expressions. These forward-looking statements involve risks and uncertainties which are subject to change based on various important factors. Some of these risks and uncertainties, in whole or in part, are beyond the Company's control. Factors that might cause or contribute to such a material difference include, but are not limited to, those discussed in the Company's Annual Report on Form 10K for the fiscal year ended February 29, 2008, in the section entitled "Risks Particular to Our Business." Shareholders are urged to review these risks carefully prior to making an investment in the Company's common stock.

The Company cautions that the foregoing list of important factors is not exclusive. Except as required by federal securities law, the Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.

Duane D. Deaner, CFO

Tel: 215-355-9100 (ext. 1203)

Fax: 215-357-4000

ETC - Internet Home Page: http://www.etcusa.com

SOURCE Environmental Tectonics Corporation

Source: PR Newswire

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