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Ranger Aerospace Acquires Aircraft Service International Group

April 02, 1998

Greenville, S.C. – Ranger Aerospace Corporation announced today its acquisition of Aircraft Service International Group (ASIG) from VIAD Corporation. Ranger and other potential buyers had been vying for ASIG’s purchase since mid-1997. Ranger paid all cash for ASIG, but the exact terms of the transaction will not be disclosed at this time by either party. Steve Townes, CEO of Ranger said, “We intend to use ASIG as the centerpiece business for our aggressive consolidation strategy in commercial airfield services. ASIG’s high quality reputation and consistent performance fit perfectly with our investment objectives.”

ASIG has operated for over 50 years as one of the largest independent airfield services companies in the world. ASIG has substantial ground handling and fueling operations in 35 major airports in North America and Europe. ASIG employs over 3,000 aviation service professionals, and is headquartered in Florida.

Ranger Aerospace Corporation is an investment and management company with large financial institutions, a major insurance company, and venture capital entities as majority shareholders, along with management co-owners. Ranger seeks to add value in its acquisitions through total quality programs, workforce initiatives, capital re-investments, energized leadership, and new operating efficiencies. Ranger’s management team of Principals and Officers are seasoned veterans who take a sleeves-up approach toward working inside investee companies, applying their experiences in aviation, aerospace, engineering, finance, post-merger integrations, leveraged buyouts, turnarounds, and organizational assessment and re-development to improve operating performance. Ranger’s mission is to build the largest quality leading company of its type in the commercial airfield services industry worldwide, generating superior return to its shareholders and superior service to each of its subsidiaries’ customers.