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Michael G. Hannon Joins American Ecology As Vice President of Corporate Development

Posted on: Monday, 5 June 2006, 09:01 CDT

American Ecology Corporation (NASDAQ: ECOL) today announced the appointment of Michael G. Hannon, age 51, as Vice President of Corporate Development. Hannon is responsible for strategic planning, analysis of internal and external growth opportunities, and management and integration of potential merger and acquisition processes. He will also support the Company's investor relations activities. Hannon reports to American Ecology President and Chief Executive Officer Stephen Romano.

"Mike Hannon is a waste industry veteran who brings a wealth of experience to American Ecology's senior management team," stated Romano. "His financial, operational and merger and acquisition background make him uniquely suited to fill this newly created position," Romano added. "We look forward to Mike's contributions in building shareholder value through continued growth of American Ecology's nationally unique mix of hazardous, PCB and low-level radioactive waste treatment and disposal services," Romano concluded.

Since 2002, Hannon has been President of Valuation Insight, Inc., a firm specializing in merger and acquisition consulting. From 1994 to 2002, Hannon was Vice President of Development / Mergers & Acquisitions at Allied Waste Industries, Inc. In that position, Hannon led a team that acquired more than 300 waste service businesses. Allied also acquired several publicly held companies during Hannon's tenure including Laidlaw Waste Systems, Inc. (1996) and Browning-Ferris Industries, Inc. (1999). Hannon previously served as Midwest Regional Vice President with Laidlaw, and before that as a Regional Controller with Laidlaw and SCA Services. His background includes more than 30 years of waste industry experience.

With the hiring of Hannon, the Company has no current plans to name a new Chief Financial Officer. Vice President and Controller Michael Gilberg continues to serve as American Ecology's Chief Accounting Officer and as Secretary and Treasurer to the Company's Board of Directors.

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, American Ecology 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 and its subsidiaries operate. Actual results may differ materially from what is expressed herein. No assurance can be given that the Company will increase shareholder value, meet its growth objectives or expand the business through internal business initiatives or through mergers or acquisitions. 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.

Source: Business Wire

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