HUNTER AIRCRAFT NAMES NATIONALLY RECOGNIZED AEROSPACE EXECUTIVE AS PRESIDENT & CEO

Released_By: USANews
Date: 7/13/98
Time: 8:23:20 PM

For_Immediate_Release

PRESIDENT APPOINTED. Barry M. Meuse, Chairman and CEO of Hunter Aircraft Corporation, Announced Today the appointment of Stephen D. Townes as President, Chief Operating Officer, and Director of this emerging aerospace services and aircraft development company.

"Mr. Townes brings to Hunter a well-earned reputation as an outstanding leader in the airlines services industry, He is just the man to provide the proven growth leadership this company needs to realize, its fullest potential in the coming years. Given our very aggressive plans, I am delighted Townes has accepted our offer to join Hunter in this key position" said Meuse. He added, We have over 1,500 public shareholders for whom we intend to redirect and grow Hunter; Steve Townes will help lead the charge."

Steve Townes is a well known, nationally recognized, fast-growth specialist And turnaround expert in aerospace, and aviation services. As President of Hunter, he will lead the Company's acquisitive efforts, direct the operations management team, integrate acquired operations, and shape the national marketing campaign.

Previously, Townes was President, then later Vice Chairman, of the heavy aero-mod divisions of a St. Louis-based aerospace company, leading a post-acquisition renewal effort that culminated in winning a large commercial aircraft modification program which is among the largest in the industry's segment. In that role, Townes managed as many as 1,500 people with annual budgets approaching the $100 million range.

Townes' previous experiences fire noteworthy for their aggressive marketing growth. He generated more than a $400 million backlog for a large aero-mod company in Texas and helped lead the efforts that doubled it large multi-city aircraft services chain.

After military service in the '70s, Townes began his aerospace career at LTV Aerospace & Defense Company, a multi-billion dollar aerospace manufacturer and retrofitter.

Townes is an engineering graduate of West Point, has an MBA from Long Island University, find is a PMD program graduate of Harvard Business School.

Townes succeeds Mr. Meuse in both capacities. Meuse continues his duties as Chairman and Chief Executive Officer.

BUSINESS STRATEGY. Mr. Meuse also stated that 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. Several candidate acquisitions are already being seriously explored," stated Meuse. "Our goal is to close, at least two acquisitions this calendar year."

ABOUT HUNTER. Hunter Aircraft Corporation is a publicly traded aerospace services and specialty aircraft development/manufacturing company. The Company is using its strong shareholder base and debt-free financial condition to actively seek stock leveraged acquisitions for new strategic growth.

In addition to its acquisition plans in aviation services, Hunter has a division dedicated to the design and manufacture of innovative fixed-wing and rotary aircraft for law enforcement, govenment, and general Aviation. Hunters predecessor operations produced over 3,600 aircraft, most of which Fire still flying today.

Photos of Meuse and Townes are available upon request and will be sent overnight to requesters. Aviation industry editors are free to use Townes file photos on hand at your publication.

For more information: Joseph J. Meuse Director, Investor Relations Hunter Aerospace, Hunter Aircraft Corporation Tel 703-998-0600 Fax 703-998-0680