ALLIED MOTION TECHNOLOGIES, INC. , FORMERLY HATHAWAY CORPORATION, BEGINS TRADING UNDER THE SYMBOL ‘AMOT'

DENVER, COLORADO -- ALLIED MOTION TECHNOLOGIES, INC. (NASDAQ: AMOT), formerly Hathaway Corporation (NASDAQ: HATH), will begin trading under the NASDAQ Symbol AMOT today.

The Company's name and symbol change were necessary in connection with the sale of the Company's power and process business, which was effective July 29, 2002. Following the sale, the Company is now engaged exclusively in the Motion Control Business and the new name, Allied Motion Technologies, Inc., reflects the change in the Company's business. The Company's individual operations will continue to do business under the existing brand names and the names that are recognized by our employees, customers and suppliers: Computer Optical Products, Emoteq, Motors & Instruments, and Motor Products.

Headquartered in Denver, Colorado, Allied Motion, formerly Hathaway, designs, manufactures and sells motion control products into applications that serve many industry sectors. With subsidiaries in the United States and United Kingdom, Allied Motion is a leading supplier of precision and specialty motion control components and systems to a broad spectrum of customers throughout the world.

The statements in this press release that relate to future plans, events or performance are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statements that may predict, forecast, indicate, or imply future results, performance, or achievements. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results of the Company to differ materially from the forward-looking statements. The risks and uncertainties include international, national and local general business and economic conditions in the Company's motion control business, introduction of new technologies, products and competitors, the ability to protect the Company's intellectual property, the ability of the Company to sustain, manage or forecast its growth and product acceptance, the continued success of the Company's customers to allow the Company to realize revenues from its order backlog and to support the Company's expected delivery schedules, the continued viability of the Company's customers and their ability to adapt to changing technology and product demand, the ability of the Company to meet the technical specifications of its customers, the continued availability of parts and components, increased competition and changes in competitor responses to the Company's products and services, changes in government regulations, availability of financing, the ability of the Company's lenders and financial institutions to provide additional funds if needed for operations or for making future acquisitions and the ability to attract and retain qualified personnel who can design new applications and products for the motion control industry. The Company's ability to compete in this market depends upon its capacity to anticipate the need for new products, and to continue to design and market those products to meet customers' needs in a competitive world. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements as a prediction of actual results. The Company has no obligation or intent to release publicly any revisions to any forward looking statements, whether as a result of new information, future events, or otherwise.