NEW MANAGEMENT STRUCTURE ACCOMPANIES OUR CORPORATE-WIDE GROWTH

In response to an increase in corporate growth and emerging business opportunities, a new management structure has been implemented at Michigan Aerospace Corporation. Carl A. Nardell, formerly Vice President and Chief Engineer, has been appointed to the position the Chief Executive Officer and will be responsible for all financial and engineering operations. Peter Tchoryk, formerly Director of Business Development, will now serve as the Executive Vice President and will be responsible for all business development, marketing and personnel. Paul Hays will continue to serve as the President of Michigan Aerospace Corporation. Lennard A. Fisk (former NASA Associate Administrator for Space Science and Applications and formerly CEO of Michigan Aerospace Corporation) will become the Chairman of the Board of Directors.