PAGI Pemco Aviation Grp. (MM)

Pemco Aviation Group, Inc., (NASDAQ: PAGI) announced today that they have selected Mr. Randall Shealy to succeed Mr. John Lee as Senior Vice President and CFO following Mr. Lee's retirement. Mr. Shealy's position became effective April 1, 2006. Ron Aramini, President and Chief Executive Officer of Pemco Aviation Group said, "We are extremely pleased that Randy has accepted this leadership role for the corporation. He is well equipped to handle the financial challenges that public companies face and has the background and professional skills to guide Pemco soundly into the future. I look forward to working with Randy as we return Pemco to profitability." Mr. Shealy joined the Company on December 13, 2004 as Vice President of Finance and was promoted to Chief Accounting Officer in May, 2005. Prior to joining the Company, he held the position of Chief Financial Officer for Southern Research Institute. Before joining Southern Research Institute, he was an Audit Senior Manager with Ernst & Young, LLP. He is a graduate of the University of Alabama and is a licensed Certified Public Accounting and Certified Management Accountant. In other news, Pemco also announced that it has named a new Director of Internal Audit, Mr. Chris Warden. Mr. Warden comes to Pemco from Lexington, Kentucky where he served as Internal Audit Manager for Tempur-Pedic International, a $780 million global manufacturer of premium bedding products. Prior to his time with Tempur-Pedic, he carried the position of Senior Financial Auditor for Electronic Data Systems (EDS) of Plano, Texas. Mr. Warden has earned a Bachelor of Science in Internal Auditing with a Minor in Accounting from Berry College in Rome, Georgia and is a Certified Internal Auditor, Certified Information Systems Auditor and Certified Fraud Examiner." Pemco Aviation Group, Inc., with executive offices in Birmingham, Alabama, and facilities in Alabama, Florida and California, performs maintenance and modification of aircraft for the U.S. Government and foreign and domestic commercial customers. The company also provides aircraft parts and support and engineering services and full service overhaul and repair for a wide range of aircraft. Pemco Aviation Group also develops and manufactures aircraft cargo systems, rocket vehicles and control systems, and precision components for the aviation industry.