Hunter Aircraft Announces Acquisitions Strategy

Released_By: USANews
Date: 7/13/98
Time: 8:14:26 PM

For_Immediate_Release

A spokesman for Hunter Aircraft Corporation (HACO) unveiled a sweeping new strategy aimed at acquisitive growth in the aerospace services sector. Hunter's projections include numerous 'roll-up' acquisitions of middle-market aerospace services companies with revenues ranging from $10 to $40 million annually.

Barry Meuse, Hunter's new Chairman and CEO, said; 'The company has refocused its business strategy since it started trading under the HACO symbol in late 1996. We are now aimed at: aggressively acquiring an array of aviation services, light manufacturing, specialized technologies, overhaul and repair, and components and parts distribution companies. Our goal is to close at least two acquisitions in 1997 with several candidate acquisitions already being seriously explored."

Hunter intends to capitalize on the consolidation trend in the $230 billion aerospace market, in which thousands of profitable, mid-sized companies comprise a large segment. These companies are prime targets for public acquirers like Hunter. The Company is using its strong shareholder base and debt-free financial condition to actively pursue stock-leveraged acquisitions for accelerated strategic growth.

"Management and leadership are critical to Hunter's acquisition strategy," Meuse noted, "and we intend to create a world-class management team with the specific goal of accelerating our pace of growth. We believe our shareholders, long waiting for strategic redirection, will be delighted with the results."

For more information, contact: Mr. Joseph J. Meuse Director, Investor Relations Hunter Aircraft Corporation Phone (703) 998-0600 Fax (703) 998-0680