Employees Commemorate Fourth "Fast 50" Award by Taking Spin in '92 Ferrari

ISSAQUAH, WASH. - Oct. 15, 1999 - When employees arrive at Applied Precision Inc. Friday morning, they might wonder if Chief Executive Officer John Stewart has squandered revenues from his company's fast growth.

The employees at Applied Precision, a high-technology company recently named to the Deloitte & Touche Washington State Technology Fast 50, will see a Ferrari 348TS parked at the entrance to their Seattle-area facility. The red sports car isn't the CEO's new I-90 ride, it's a one-day "thank you" to API's employees for making possible the company's fast growth - 159 percent since 1994 - and earning a spot on the Fast 50 four years in a row.

"We have some of the best and brightest experts in semiconductors, biotechnology and micropositioning, and I wanted to thank them for making our Fast 50 'four-peat' rewarding - and fun," Stewart said. "Our goal is to give all 100 employees a test spin, as a way of kicking off another year of fast growth."

To earn a spot on the list, API's revenues for the past five years (1994-1998) were reviewed by Deloitte & Touche's accounting experts and compared to the growth of all the companies in the region. Only seven Washington high-tech companies have been able to achieve Fast 50 ranking four years in a row.

"Today, there are more than 22,000 high technology companies in the United States, many of which are competing for the same markets here in the states and worldwide. The Fast 50 winners for Washington state have proven that they can compete successfully by consistently delivering technological wonders," said Larry Hile, partner of Deloitte & Touche. "We at Deloitte & Touche commend API for having the vision and determination to become one of the 50 fastest-growing technology companies in Washington state - fours years in a row."

To qualify for the Washington Fast 50, companies must have had revenues of at least $50,000 in 1994 and at least $1million in 1998; must be public or private companies headquartered in Washington state; and must be technology companies.

Winners of the Washington Fast 50 - as well as 18 other regional Fast 50 programs in the United States - are automatically entered in the Deloitte & Touche Technology Fast 500 program, which ranks the nation's top 500 fastest-growing technology companies.

About API

Founded in 1986, Applied Precision Inc. leverages unique expertise in electronics, software and precision engineering to provide product solutions in semiconductor metrology test and process improvement, biotechnology, photonics, digital flow control and micropositioning. With 100 employees, API reported worldwide sales of approximately $22 million in the last fiscal year (1998/99). For more information, contact API at 425-557-1000 or visit www.api.com.

About Deloitte & Touche

Deloitte & Touche, one of the nation's leading professional services firms, provides accounting and auditing, tax, and management consulting services through 28,000 people in more than 100 U.S. cities. Deloitte & Touche is part of Deloitte Touche Tohmatsu, a global leader in professional services with more than 82,000 people in over 133 countries. Deloitte & Touche refers to Deloitte & Touche LLP, Deloitte & Touche Consulting Group LLC, and related entities.

F A C T S H E E T Oct. 15, 1999

* Car: Ferrari 348TS
* Year: 1992
* Horsepower: 295
* Top Speed: 173 mph
* Acceleration: 0 to 60 in 4.8 seconds