SOLON, Ohio, Oct. 6, 2003 (PRIMEZONE) -- Advanced Lighting Technologies, Inc. ("ADLT") (OTCBB:ADLTQ) announced today that it has filed an amended joint plan of reorganization and related disclosure statement with the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division. The Bankruptcy Court has approved the amended Disclosure Statement. The amended plan is subject to review and approval by the Bankruptcy Court. The Debtors can give no assurance that the amended plan will be approved by the Bankruptcy Court, that the plan will receive the required approvals of the creditors and, if necessary, equity securityholders of the Debtors, or that the Debtors will be able to implement the plan.
This release is not, and should not be construed as, a solicitation of support for the amended plan of reorganization proposed by the Debtors. Creditors and shareholders are advised to review the Debtors' Disclosure Statement carefully. Information regarding the filings in this case is available on the court's web site. ADLT's case is jointly administered under case No. 03-05255.
About Advanced Lighting Technologies:
ADLT is an innovation-driven designer, manufacturer and marketer of metal halide lighting products, including materials, system components, systems and equipment. ADLT and certain of its United States subsidiaries, including APL Engineered Materials, Inc., are currently operating as debtors-in-possession while the companies reorganize under Chapter 11 of the United States Bankruptcy Code. ADLT also develops, manufactures and markets passive optical telecommunications devices, components and equipment based on the optical coating technology of its wholly owned subsidiary, Deposition Sciences, Inc., which is not operating under protection of the Bankruptcy Code.
Forward-Looking Statements:
Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including uncertainties associated with the restructuring process, the ability of ADLT to successfully emerge from bankruptcy, the ability of ADLT to operate successfully during the reorganization proceeding, and disruptions to ADLT's business relationships during the restructuring process. Other risks and uncertainties include the strength of the recovery of the U.S. economy, timely development and market acceptance of new products, including production equipment, the ability to provide adequate incentives to retain and attract key employees, the impact of competitive products and pricing, and other risks detailed from time-to-time in ADLT's EDGAR filings with the Securities and Exchange Commission. In particular, see "Risk Factors" in ADLT's Form 10-K for the fiscal year ended June 30, 2002. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects" and similar expressions are intended to identify forward-looking statements. ADLT's actual results could differ materially from those anticipated in these forward-looking statements.