Performance Technologies, Incorporated Board of Directors Approves Three-For-Two Stock Split

Business Wire, August 16, 1999

ROCHESTER, N.Y.--(BUSINESS WIRE)--August 16, 1999--

The Board of Directors of Performance Technologies, Incorporated (NASDAQ:PTIX) today declared a three-for-two split of the Company's common stock. PTI stockholders will receive one additional share of PTI common stock for each two shares owned as of the record date, August 26, 1999. The split will result in approximately 11 million common shares outstanding. The stock split will be paid as a 50-percent stock dividend on September 1, 1999.

"During 1999 the value of PTIX has shown consistent improvement. We believe this is directly tied to the Company's continuing revenues and earnings growth," said Charles E. Maginness, Chairman of the Board of Directors. "We are highly appreciative of those investors who have placed their confidence in our future. We believe that increasing the number of shares available in the financial market is supportive of our active programs to increase our stockholder base and is in the best interest of PTIX value."

Performance Technologies, Inc., headquartered in Rochester, New York, designs, manufactures and markets high performance, high availability and high reliability network switching and data communications solutions. The Company's products are targeted towards mission-critical networking and communications applications typically used in the telecommunications, financial services, information processing, and defense industries. For current financial and Company information, visit our home page at http://www.pt.com.