Associated Air Center Announces Executive Changes

Tempe, Ariz.—March 29, 2005—Garrett Piedmont Hawthorne/Associated, a provider of comprehensive services for the business aviation industry, today announced that Associated Air Center President Rick Penshorn has resigned his position for personal reasons effective immediately. Penshorn will continue to support the Associated Air Center and its customers as a consultant on an as needed basis.

Jeff Bosque, currently vice president sales and marketing and a 14-year veteran at Associated Air Center, has been appointed to lead the company on an interim basis until a permanent appointment is made.

“We appreciate the many significant contributions Rick has made to Associated Air Center—improving productivity and building strong employee and customer relationships–that have sustained the company through two ownership changes,” said Frank Klaus, president and chief executive officer of Garrett/Piedmont Hawthorne/Associated. “I am very confident in Jeff’s leadership capabilities and the continued success of the company.”

About Garrett/Piedmont Hawthorne/Associated
Garrett/Piedmont Hawthorne/Associated is one of North America’s largest providers of comprehensive services for the business aviation industry. With 39 locations in North America, the company offers a full range of fixed base operations, maintenance, repair and overhaul, aircraft charter, sales and management and large aircraft completions. Garrett/Piedmont Hawthorne/Associated is headquartered in Tempe, Ariz.