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Media Release - December 16, 2009

Media Release
December 16, 2009


Pemco to Acquire Alcoa SIE’s 757 Cargo Conversion Program

DOTHAN AL (December 16, 2009) – Pemco World Air Services (“Pemco”) today
announced that it has reached an agreement to acquire the 757 cargo conversion
operations and assets of Alcoa‐SIE Conversions LLC (ASCC). Under the agreement,
Pemco will acquire key assets of ASCC including its Boeing 757‐200 Supplemental Type
Certificate, which is the regulatory authority under which ASCC is permitted to retrofit
passenger‐configured 757s for subsequent use as freighters. Financial terms were not
disclosed.

Upon the full implementation of the agreement in early 2010, the 757 conversion
program will be sold, installed, and supported as a Pemco product. “We are delighted
to add the 757 program to our conversion product line” said Pemco CEO Wake Smith.
Pemco President Kevin Casey added “Along with our freighter, combi, and quick‐change
configurations of the 737‐300 and 737‐400, the 757 freighter will round out the product
portfolio in the Pemco family of narrowbody cargo aircraft options.”

Pemco will couple its market leading narrowbody conversion technology and seamless
after‐sale support with ASCC’s effective product design to offer a truly compelling 757
cargo program. “We are pleased to see the highly efficient conversion design that ASCC
has pioneered incorporated into the product line of one of the world’s most
experienced cargo conversion companies in Pemco” noted ASCC President Robert
Murphy.

Pemco, with operations in Dothan, Alabama, Tampa, Florida and partner operations in
Asia, is a leading provider of aircraft MRO services and has performed more than 300
cargo conversions on 24 different aircraft platforms over 40 years. For more
information, contact Pemco Sales & Marketing at +1 334 983 7058 or by email at
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