Measurement Specialties Appoints New Chief Financial Officer

Jul 26, 2002, 01:00 ET from Measurement Specialties

    FAIRFIELD, N.J., July 26 /PRNewswire-FirstCall/ --
 Measurement Specialties (Amex:   MSS) announced today the appointment of John P.
 Hopkins as Chief Financial Officer.
     Mr. Hopkins has twenty years of experience in finance, accounting and
 auditing.  Most recently he was Vice President, Finance at Cambrex
 Corporation, a NYSE listed company.  Previously, he held various senior
 financial positions at ARCO Chemical and was an Audit Manager at
 PricewaterhouseCoopers.  Mr. Hopkins holds a B.S. in Accounting from West
 Chester University, and an MBA from Villanova University.
     Frank Guidone, Chief Executive Officer of Measurement Specialties,
 commented, "We chose our new CFO carefully.  John has the right combination of
 experience and talent to be a key contributor to our current restructuring, as
 well as creating a strengthened financial infrastructure for the future.
     John Hopkins added "I come to Measurement Specialties ready for
 challenges, but, I am joining because of the opportunity I see here to help
 return the Company to profitability."
     Measurement Specialties is a designer and manufacturer of sensors, and
 sensor-based consumer products.  Measurement Specialties produces a wide
 variety of sensors that use advanced technologies to measure precise ranges of
 physical characteristics, including pressure, motion, force, displacement,
 angle, flow, and distance.  Measurement Specialties uses multiple advanced
 technologies, including piezoresistive, application specific integrated
 circuits (ASICs), micro-electromechanical systems (MEMS), piezopolymers, and
 strain gages to allow their sensors to operate precisely and cost effectively.
     This 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 and Exchange Act of 1934, as amended, including but not limited to,
 statements regarding expected losses, estimated sales, possible restatement of
 financial statements, expected noncompliance with bank covenants, causes for
 losses, success of measures to reduce debt, and ability to return to
 profitability.  Forward looking statements may be identified by such words or
 phases as "will likely result," "are expected to," "will continue," "is
 anticipated," "estimated," "projected," "may," or similar expressions. The
 forward-looking statements above involve a number of risks and uncertainties.
 Factors that might cause actual results, valuation of inventory, integration
 and expected cost reductions, profitability and cashflow to differ materially
 include: conditions in the general economy and in the markets served by the
 Company; competitive factors, such as price pressures and the potential
 emergence of rival technologies; interruptions of suppliers' operations
 affecting availability of component materials at reasonable prices; timely
 development and market acceptance, and warranty performance of new products;
 success in identifying, financing and integrating acquisition candidates;
 changes in product mix, costs and yields, fluctuations in foreign currency
 exchange rates; uncertainties related to doing business in Hong Kong and
 China; and the risk factors listed from time to time in the Company's SEC
 reports.  The Company is involved in an announced active acquisition program.
 Forward looking statements do not include the impact of acquisitions, which
 could affect results in the near term.  Actual results may differ materially.
 The Company assumes no obligation to update the information in this issue.
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SOURCE Measurement Specialties