STEPHEN HENDERSON NAMED PRESIDENT OF McKECHNIE AEROSPACE AFTERMARKET GROUP

WARWICKSHIRE, ENGLAND (August 19, 2003) – Stephen Henderson has been named President of the McKechnie Aerospace Aftermarket Group, according to an announcement made by Robert Gibbon, Divisional Chief Executive of the Aerospace Group. Mr. Henderson, who will be based in the U.S., reports directly to Mr. Gibbon and assumes responsibility for all aspects of sales and operations for the Group. The McKechnie Aftermarket Group — formed earlier this year (April, 2003) from heritage companies Arger, Aero Quality, and HASCO® — is a leading supply chain partner to many of the world’s leading airlines, operators, and MROs. Mr. Henderson brings 33 years of upper management experience to the Group. During his distinguished career, he has served as President and CEO of various aerospace companies including Ryder, Goodrich, FLS, and GE. In addition, Mr. Henderson held upper management positions within the process industries in Japan, the United Kingdom, and Europe.

Mr. Gibbon noted that, “Stephen’s strength has been his ability to lead companies to profitable growth by developing a strategic vision for the business, then using a strategic renewal process to build a team with realistic metrics to achieve the new vision.” He added that, “Stephen recently took a multi-cultural business of 4,000 people from a $45 million loss to an operating profit of $20 million in under 2 years. He has the experience and proven ability to lead our Aftermarket Group in developing the customer-centric programs that will ensure our leadership in the Aftermarket Segment of the business.”

In addition to providing a wide range of products and supply-chain services to operators and MROs, McKechnie Aerospace supports its customers with innovative value-added PMA solutions. Through its principals and various operating groups — using a process called Solutioneering — McKechnie Aerospace’s Aftermarket Group has risen to the forefront of product development and product enhancements to better meet the realities of operational use.

For more information on the unit, contact: Michael King, King Group. Phone: 805.462.3000. E-mail: mking@kinggroup.com

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