American Superconductor Announces Filing of Amendment to Public Offering

American Superconductor Corporation announced has filed an amendment to the registration statement it filed with the Securities and Exchange Commission on August 29, 2003 for its proposed public offering of 4,000,000 shares of its common stock. The offering will include an option for the underwriters to purchase up to an additional 600,000 shares to cover over-allotments, if any. The lead underwriter for the offering will be Needham & Company, Inc., and William Blair & Company and RBC Capital Markets will serve as co-managing underwriters. The company expects to price the public offering in early October. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state. A copy of the prospectus may be obtained, when available, from Needham & Company, Inc., 445 Park Avenue, New York, New York 10022; William Blair & Company, 222 West Adams Street, Chicago, Illinois 60606; and RBC Capital Markets, One Liberty Plaza, 165 Broadway, New York, New York 10006.