May 19, 2006

At their Spring Meeting, the INAV Board of Directors announced the appointment of two new Board Members, Terry MacManus and Raymond J. Siegel.

Terry MacManus, has a career in aviation which spans over 42 years. His previous experience includes a 30 year career with Aer Lingus in which he held several key positions. He led the creation of Team Aer Lingus, the first stand alone MRO business to be created by a European carrier. Retiring in 1994 as CEO of Team Aer Lingus, MacManus then worked with Woodale, IL based, AAR, as President of the Airframe and Accessories Group After retirement from AAR in 2000, MacManus later became CEO of Rotable Asset Management, a spares leasing venture. Today, MacManus resides in both Dublin and Chicago. Terry holds a Masters in Management Science from Trinity College, Dublin.

Raymond J. Siegel is a senior corporate and consulting professional with over thirty years experience as a corporate manager and problem solver. His experiences span both U.S. and international activities. Included in his background are experiences with an array of capital market issues, complicated tax structures, and the restructuring of troubled situations. Siegel has extensive leadership experience in cross-border financings, complex bank negotiations, correcting troubled situation and M&A. In 1988, as Corporate Treasurer for Comdisco, Siegel built an internationally recognized finance team which in 1992 was named by The Economist Magazine, as on of the top 50 Global Finance Departments in the world. Siegel is a co-founder of New York based, Global Securitization Services, LLC, an international firm providing services to the Asset Securitizations Industry. Siegel received a Bachelor of Science degree in Finance from St. Joseph’s College. He has an MBA from Northern Illinois University and a MM from Northwestern University’s Kellogg Graduate School of Management.

Commenting on the appointments, President and CEO John Hudnall stated, “We are pleased that Terry and Ray have chosen to participate in the growth of Inventory Navigation, LLC. Both Terry and Ray have extraordinarily deep management experiences and we look forward to their guidance and counsel as we face the challenges of growing our business in a changing industry.” In addition, Chairman, Daniel O. Dickinson commented, “Both of these individuals will play a critical role in guiding our company. Terry & Ray’s INAVovative approach to business and their achievements speak for themselves and Terry’s background provides a wealth of experience in the specific areas of Inventory Navigation’s focus, while Ray’s financial knowledge gives INAV the ability to have expert financial advice in the world market.”