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Fri, May 23, 2003

Upgraded: Joe Walker

Adam Aircraft Appoints Walker to Board

Joe Walker has accepted appointment to Adam Aircraft Industries' Board of Directors. Joe joins Rick Adam, CEO of Adam Aircraft; and Sanjeev Mehra and Douglas Graham of Goldman Sachs.

Joe has a distinguished career in the aviation industry. Most recently he was Senior Vice President of Worldwide Sales at Gulfstream Aircraft Company and Vice President of General Dynamics. He held senior roles in Gulfstream from 1995 to 2002, helping manage the firm from a private to public company, and finally through the acquisition by General Dynamics. At Gulfstream, Joe managed one of the industry's most successful corporate aircraft sales teams.

From 1975 to 1994, Joe held progressively more responsible positions at Cessna Aircraft Company. After beginning in aerodynamics and flight test engineering, Joe moved into sales. He held managerial positions in sales, technical support, and market research and strategy. Joe was eventually promoted to Vice President of Domestic Sales and then to Vice President of Worldwide Sales for Cessna.

"We are thrilled to have someone of Joe's experience help guide the future of the company" said Rick Adam. "He has extensive background in both piston and turbine aircraft. We look forward to his contributions in product definition, customer ownership experience, and sales."

For his part, Joe stated "It is great to be part of a young, energetic company. The team at Adam is setting new standards for performance, safety, and value in general aviation. I believe my experience will be helpful in guiding future directions."

FMI: www.adamaircraft.com

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