Axion International Holdings, Inc. – ‘10-Q’ for 3/31/01 – EX-99

On:  Tuesday, 5/15/01, at 4:18pm ET   ·   For:  3/31/01   ·   Accession #:  950137-1-501592   ·   File #:  0-13111

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                      18     89K 
 2: EX-10.25    Waiver Agreement and Amendment #10                    18     70K 
 3: EX-99       Press Release                                          2     10K 

EX-99   —   Press Release

EX-99
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                                                                      EXHIBIT 99

April 5, 2001                                                                   

             Analytical Surveys, Inc.       Pfeiffer High Public Relations, Inc.
Michael Renninger              Geoff High             
Chief Financial Officer        303/393-7044           
mrenninger@anlt.com            geoff@pfeifferhigh.com 

 ANALYTICAL SURVEYS REACHES AGREEMENT IN PRINCIPLE TO SETTLE
SHAREHOLDER LAWSUIT 

INDIANAPOLIS, Indiana - Analytical Surveys, Inc., (ASI) (Nasdaq National        
Market-ANLT), a provider of customized data conversion and digital mapping      
services for the geographic information systems (GIS) market, today announced   
that it has entered into an agreement in principle to settle a consolidated,    
class action lawsuit against the Company and certain of its former officers. The
proposed settlement provides for the dismissal of the consolidated action in its
entirety against all defendants and the establishment of a settlement fund of $4
million, of which the Company is contributing $100,000, and approximately       
1,250,000 shares of the Company's common stock for the class of open market     
purchasers of the Company's shares between January 25, 1999, and March 7, 2000, 
inclusive. The agreement in principle with the plaintiffs is subject to various 
conditions, including execution of a Memorandum of Understanding and Stipulation
of Settlement, preliminary approval by the Court, notice to the class and final 
approval by the Court after a hearing.                                          

"This agreement in principle to settle represents a significant milestone in the
turn-around efforts of ASI," said Norm Rokosh, ASI's President and CEO. "I am   
very pleased that this agreement has been reached and has minimal impact on the 
Company's financial resources. We are fully prepared to finalize all details so 
that we can move forward and focus our management efforts on the core task of   
running our business. We anticipate that this outcome, coupled with the         
anticipated completion of the sale of our Colorado Springs office to Sanborn Map
Company, Inc. announced in our press release dated February 2, 2001, will       
energize all of our staff, customers and other business partners."              

Analytical Surveys provides customized data conversion, digital mapping and     
consulting services for the spatial data markets. Geospatial data is used for a 
variety of applications, including the creation of geographic information       
systems (GIS). A GIS is a high-resolution, large-scale, richly detailed         
"intelligent map" that allows users to input, update, query, analyze and display
detailed information about a geographic area. Geographic information systems are
widely used by utilities, state and local governments, federal agencies and     
commercial businesses to manage massive infrastructures effectively, to improve 
operating efficiencies and to analyze future demand for facilities. The         
Company's traditional markets have been utilities and state and local           
governments.                                                                    

Certain statements made in this news release are forward-looking statements     
within the meaning of the Private Securities Litigation Act of 1995. Results may
differ materially from the Company's expectations. A number of uncertainties and
other factors could cause actual results to differ                              

EX-99
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materially from such forward-looking statements, including, but not limited to, 
the possibility that the Company will not be awarded contracts in the numbers,  
for the amounts, or at the time that the Company currently expects, and         
therefore, that overall contract volume does not increase. The forward-looking  
statements are also based on assumptions related to the growth of the Company's 
consulting services, as to which there can be no assurance. A more detailed     
description of factors that could affect the Company's financial results are    
included in the Company's Annual Report on Form 10-K and other filings with the 
Securities and Exchange Commission.                                             
### 

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘10-Q’ Filing		Date		First		Last			Other Filings
Filed on:		5/15/01
		4/5/01		1
For Period End:		3/31/01
		2/2/01		1
		3/7/00		1					10-K405/A,  10-Q
		1/25/99		1
									List all Filings