Press Release

 

Contact: Adrienne Binenstock
Park Electrochemical Corp.
(516) 354-4100

PARK ELECTROCHEMICAL CORP. ANNOUNCES RESIGNATION OF CFO AND ELECTION OF NEW CORPORATE OFFICERS

LAKE SUCCESS, New York, March 16, 2001…Park Electrochemical Corp. (NYSE-PKE) announced today that F. Gordon Bitter resigned as Chief Financial Officer of the company to pursue other interests.

The company also announced the election of three new corporate officers.

The company announced the election of Stephen E. Gilhuley, as Senior Vice President, as well as Secretary and General Counsel. Mr. Gilhuley has been employed by the company since 1994 and has served as General Counsel since 1994 and Secretary since July 1996. Prior to joining the company, Mr. Gilhuley was General Counsel, Secretary and Vice President of Allen Telecom, Inc. (formerly The Allen Group, Inc.), where he was employed for fifteen years, after having been an associate lawyer with the law firm of Shearman & Sterling in New York City. Mr. Gilhuley received a B.A. degree from Yale University in 1966 and a J.D. degree from Vanderbilt University School of Law in 1969.

The company announced the election of Murray O. Stamer as Senior Vice President, Finance. Mr. Stamer joined the company in 1989 and served as Assistant Corporate Controller and Corporate Controller prior to his election as Treasurer of the company in May 1999. Before 1989, Mr. Stamer was corporate controller of Tadiran Electronic Industries Inc., where he was employed for six years after having been in public accounting with Laventhol & Horwath. Mr. Stamer received a B.S. degree in accounting from Brooklyn College in 1979 and received an MBA degree in finance from Baruch College, City University of New York in 1988. Mr. Stamer is a Certified Public Accountant.

The company also announced the election of James W. Kelly as Vice President, Taxes and Planning. Mr. Kelly joined the company in May 1997 as Corporate Director of Taxes. He served as Manager, Tax Analysis of PepsiCo, Inc. from August 1995 to May 1997, and he served in various tax and accounting positions with Arthur Andersen & Co. from 1989 to August 1995. Mr. Kelly received a Bachelor of Science degree in accounting from St. John’s University in 1989. Mr. Kelly is a Certified Public Accountant.

Brian Shore, Park’s President and CEO, said, “We at Park have the highest regard for Gordon Bitter and will miss him. We all wish him well.”

Brian Shore added, “I am delighted to announce the election of Steve, Murray and Jim to these new positions. I have worked closely with Steve, Murray and Jim over the years, and I am very confident in their ability to help execute our strategic mission and enhance our business over the coming years. In addition, their dedication and commitment to our company and our culture is simply amazing. We are lucky to have them, and I am sure they will do very well in their new positions and with their new responsibilities.”

Park Electrochemical Corp. is a leading global designer and producer of electronic materials used to fabricate complex multilayer printed circuit boards and interconnection systems. Park specializes in advanced materials for high layer count circuit boards and high speed digital broadband telecommunications, internet and networking applications. Park’s electronic materials business operates through fully integrated business units in Asia, Europe and North America. The Company’s major manufacturing facilities are located in Singapore, England, France, Germany, New York, Arizona and California. Park’s electronic materials business operates under the “Nelco” name.

Additional corporate information is available on the World Wide Web at http://www.parkelectro.com.

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Park Electrochemical Corporation48 So. Service Road, Suite 300MelvilleNY11747

(631) 465-3600Fax: 465-3100

Copyright 2001 (c) All Rights Reserved. Park Electrochemical Corp.