Forbes Magazine Ranks American Science and Engineering, Inc. as 10th Among America’s 200 Best Small Companies of 2009 List

American Science and Engineering, Inc. (AS&E^®) (NASDAQ: ASEI), a leading worldwide supplier of innovative X-ray detection solutions, announced today that Forbes Magazine has named the Company to its America’s 200 Best Small Companies of 2009 list, ranking AS&E 10^th among the 200 top organizations.

"We are very honored to be ranked so highly among top performing, publicly held small companies in America,” said Anthony Fabiano, AS&E’s President and CEO. "Team AS&E met its strategic initiatives in fiscal year 2009, and recorded our highest revenue in Company history. We significantly increased gross margins, introduced several new products and enhancements, invested in global marketing and sales, and continued diversification of our customer base — including military, law enforcement, critical infrastructure, and port and border security.”

Forbes Magazine’s list of the 200 Best Small Companies in America began with a search for companies that showed both sales and earnings growth. Candidates needed annual revenue between $5 million and $750 million, to be publicly traded for at least a year and have a stock price no lower than $5. Rankings are based on earnings growth, sales growth and return on equity in the past 12 months and over five years. Forbes Magazine also compared the stock performance of each company with that of its peers.

About AS&E^®

American Science and Engineering, Inc. (AS&E) is the leading worldwide supplier of innovative X-ray inspection systems. With over 50 years of experience in developing advanced X-ray security systems, the Company’s product line utilizes a combination of technologies, including patented Z Backscatter technology, Radioactive Threat Detection (RTD), high energy transmission and dual energy transmission X-ray. These technologies offer superior X-ray threat detection for plastic explosives, plastic weapons, liquid explosives, dirty bombs and nuclear devices. AS&E’s complete range of products include cargo inspection systems for port and border security, baggage screening systems for facility and aviation security, and personnel and passenger screening systems. AS&E systems protect high-threat facilities and help combat terrorism and trade fraud, drug smuggling, weapon smuggling, and illegal immigration and people smuggling. AS&E customers include leading government agencies, border authorities, military bases, airports and corporations worldwide, including the U.S. Department of Homeland Security (DHS), U.S. Department of Defense (DoD), U.S. Customs and Border Protection (CBP), North Atlantic Treaty Organization (NATO), HM Revenue & Customs (U.K.), Hong Kong Customs, and Abu Dhabi Customs. For more information on AS&E products and technologies, please visit www.as-e.com.

Safe Harbor Statement. The foregoing press release contains statements concerning AS&E’s financial performance, markets and business operations that may be considered "forward-looking” under applicable securities laws. AS&E wishes to caution readers of this press release that actual results might differ materially from those projected in any forward-looking statements. Factors which might cause actual results to differ materially from those projected in the forward-looking statements contained herein include the following: significant reductions or delays in procurements of the Company’s systems by the United States and other governments; disruption in the supply of any source component incorporated into AS&E’s products; litigation seeking to restrict the use of intellectual property used by the Company; potential product liability claims against the Company; global political trends and events which affect public perception of the threat presented by drugs, explosives and other contraband; global economic developments and the ability of governments and private organizations to fund purchases of the Company’s products to address such threats; and the potential insufficiency of Company resources, including human resources, capital, plant and equipment and management systems, to accommodate any future growth, and future delays in federal funding. These and certain other factors which might cause actual results to differ materially from those projected are detailed from time to time in AS&E’s periodic reports and registration statements filed with the Securities and Exchange Commission, which important factors are incorporated herein by reference. AS&E undertakes no obligation to update forward looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes in future operating results, financial condition or business over time.