Kelly Cannell Named President of New Aviation Group

June 18, 2008, McKinney, TX…Schuler Development, a North Texas real estate development company, appointed Kelly Cannell as president of the newly formed Aviation Group.

The new Schuler Development Aviation Group includes aviation holdings at both the Collin County Regional Airport in McKinney, TX, and the North Texas Regional Airport in Denison, TX.

In making the announcement, George Schuler, President of Schuler Development, said the appointment of Kelly Cannell as President of the newly formed Aviation Group provides the necessary leadership and direction for all of the aviation initiatives in place.

“As we continue to develop our real estate holdings and expand our aviation related businesses at these two airports, we wanted to put in place the necessary infrastructure to help manage our growth,” Schuler said. “Kelly brings exceptional skill sets to our management team that will help us establish a valuable strategic direction for our company.”

Ms. Cannell, who joined Schuler Development in 2006 as Chief Financial Officer, was previously the Controller for Bob Thompson Homes, a Dallas, TX, area luxury home builder. She has also held positions of increasing responsibility for Octel Communications, KPMG Peat Marwick, and most recently Metasolv Software, Inc. including that of Controller in helping take the telecommunications software company through a successful Initial Public Offering.

A Certified Public Accountant, Ms. Cannell holds a B.B.A. degree in Accounting from Western Michigan University.

Schuler Development, as part of their restructuring plan, now owns 100 percent of the Fixed Base Operation (FBO) at Collin County Regional Airport as well as the managed real estate assets which include several corporate hangars. The FBO is being managed under contract by Cutter Aviation.

At the North Texas Regional Airport, the aviation holdings include the Lake Texoma Jet Center FBO, which also operates a major aircraft maintenance and modification center, as well as Red River Turbines, a turbine engine repair and overhaul facility.

About Schuler Development and the Aviation Group

Schuler Development is a real estate development company specializing in commercial, residential and airport development. The Aviation Group manages various properties and assets including the Fixed Base Operations (FBO) at both the Collin County Regional Airport, McKinney, TX and North Texas Regional Airport, Denison, TX. The FBO at Collin County Regional Airport is branded Cutter Aviation which manages the facility. In addition, the Aviation Group manages real estate holdings at both airports and owns and operates Red River Turbines, a turbine engine repair and overhaul facility located at the North Texas Regional Airport.

About Lake Texoma Jet Center

Located at the North Texas Regional Airport, Denison, TX, Lake Texoma Jet Center (LTJC) is a full service Fixed Base Operation (FBO) and is a branded AVFuel dealer. Also, LTJC operates a major aircraft maintenance and modification center. The airport is located 50 miles North of Dallas, TX, and has a 9,000-foot runway with a precision ILS approach. Ph: 903-786-2666, www.texomajet.com.

About Red River Turbines

Red River Turbines (RRT) is a complete, state-of-the-art technology engine propulsion modernization center. It specializes in all services for GE CJ610, CF700 & J85 engines including inspection, overhaul and solid spool rotor upgrades. At its 25,000 sq. ft. facility, the company is capable of providing engine failure analysis, trouble shooting, combustion liner overhaul, front frame overhaul, component repair and overhauls as well as service bulletin compliance. RRT also stocks a $5 million inventory of available parts, rotables, accessories and core engines. The new 66,000 cubic foot test cell tower facility is built to T-9 military specifications and is capable of testing engines up to 10,000 pounds thrust.

Red River Turbines is located on the North Texas Regional Airport, Sherman, TX. Ph: 903-786-4755, email lynn@redriverturbines.com, www.redriverturbines.com.

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