ISCO International Announces Court Approval of $15 Million Settlement

Apr 02, 2001, 01:00 ET from ISCO International

    MT. PROSPECT, Ill., April 2 /PRNewswire/ -- ISCO International
 (Illinois Superconductor Corporation) (OTC Bulletin Board:   ISCO), a leading
 supplier of interference-management solutions for the wireless
 telecommunications industry, announced today that a previously disclosed
 settlement of shareholder litigation was approved by the court on March 30,
 2001, which will result in the Company receiving $15 million, less legal fees.
 The court awarded interim attorney fees of $3 million and, pending further
 review by the court, set aside an additional $1.5 million in escrow for legal
 fees.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010321/CGW036LOGO )
     Approval regarding another previously disclosed proposed settlement of
 $5 million with another party is scheduled for a court ruling on April 27,
 2001.
 
     Because the Company wants to provide investors with meaningful and useful
 information, this news release contains, and incorporates by reference,
 certain "forward-looking statements" that reflect the Company's current
 expectations regarding the future results of operations, performance and
 achievements of the Company.  The Company has tried, wherever possible, to
 identify these forward-looking statements by using words such as
 "anticipates," "believes," "estimates," "expects," "plans," "intends" and
 similar expressions.  These statements reflect the Company's current beliefs
 and are based on information currently available to it. Accordingly, these
 statements are subject to certain risks, uncertainties and contingencies,
 which could cause the Company's actual results, performance or achievements to
 differ materially from those expressed in, or implied by, such statements.
 These factors include, among others, the following: market acceptance of the
 Company's technology; the spending patterns of wireless network operators in
 connection with the build out of 3G wireless systems; the Company's ability to
 obtain additional financing in the future; the Company's history of net losses
 and the lack of assurance that the Company's earnings will be sufficient to
 cover fixed charges in the future; uncertainty about the Company's ability to
 compete effectively against better capitalized competitors and to withstand
 downturns in its business or the economy generally; the adverse effects on
 liquidity of the Company's common stock because of its de-listing from the
 NASDAQ National Market in June 1999; continued downward pressure on the prices
 charged for the Company's products due to the competition of rival
 manufacturers of front-end systems for the wireless telecommunications market;
 the timing and receipt of customer orders; the Company's ability to attract
 and retain key personnel; and the effects of legal proceedings.  A more
 complete description of these risks, uncertainties and assumptions is included
 in the Company's filings with the Securities and Exchange Commission,
 including those described under the heading "Risk Factors" in the Company's
 Annual Report on Form 10-K.  You should not place undue reliance on any
 forward-looking statements.  The Company undertakes no obligation to release
 publicly the results of any revisions to any such forward-looking statements
 that may be made to reflect events or circumstances after the date of this
 Report or to reflect the occurrence of unanticipated events.
 
 

SOURCE ISCO International
    MT. PROSPECT, Ill., April 2 /PRNewswire/ -- ISCO International
 (Illinois Superconductor Corporation) (OTC Bulletin Board:   ISCO), a leading
 supplier of interference-management solutions for the wireless
 telecommunications industry, announced today that a previously disclosed
 settlement of shareholder litigation was approved by the court on March 30,
 2001, which will result in the Company receiving $15 million, less legal fees.
 The court awarded interim attorney fees of $3 million and, pending further
 review by the court, set aside an additional $1.5 million in escrow for legal
 fees.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010321/CGW036LOGO )
     Approval regarding another previously disclosed proposed settlement of
 $5 million with another party is scheduled for a court ruling on April 27,
 2001.
 
     Because the Company wants to provide investors with meaningful and useful
 information, this news release contains, and incorporates by reference,
 certain "forward-looking statements" that reflect the Company's current
 expectations regarding the future results of operations, performance and
 achievements of the Company.  The Company has tried, wherever possible, to
 identify these forward-looking statements by using words such as
 "anticipates," "believes," "estimates," "expects," "plans," "intends" and
 similar expressions.  These statements reflect the Company's current beliefs
 and are based on information currently available to it. Accordingly, these
 statements are subject to certain risks, uncertainties and contingencies,
 which could cause the Company's actual results, performance or achievements to
 differ materially from those expressed in, or implied by, such statements.
 These factors include, among others, the following: market acceptance of the
 Company's technology; the spending patterns of wireless network operators in
 connection with the build out of 3G wireless systems; the Company's ability to
 obtain additional financing in the future; the Company's history of net losses
 and the lack of assurance that the Company's earnings will be sufficient to
 cover fixed charges in the future; uncertainty about the Company's ability to
 compete effectively against better capitalized competitors and to withstand
 downturns in its business or the economy generally; the adverse effects on
 liquidity of the Company's common stock because of its de-listing from the
 NASDAQ National Market in June 1999; continued downward pressure on the prices
 charged for the Company's products due to the competition of rival
 manufacturers of front-end systems for the wireless telecommunications market;
 the timing and receipt of customer orders; the Company's ability to attract
 and retain key personnel; and the effects of legal proceedings.  A more
 complete description of these risks, uncertainties and assumptions is included
 in the Company's filings with the Securities and Exchange Commission,
 including those described under the heading "Risk Factors" in the Company's
 Annual Report on Form 10-K.  You should not place undue reliance on any
 forward-looking statements.  The Company undertakes no obligation to release
 publicly the results of any revisions to any such forward-looking statements
 that may be made to reflect events or circumstances after the date of this
 Report or to reflect the occurrence of unanticipated events.
 
 SOURCE  ISCO International