Ron Utecht and Kevin Carter to Jointly Lead TIMCO

GREENSBORO, NC—June 26th, 2008… TIMCO Aviation Services' Board of Directors announced today that on June 23rd, Ron Utecht, TIMCO's President and Chief Operating Officer, and Kevin Carter, TIMCO's Chief Financial Officer, jointly assumed responsibility for the Office of the Chief Executive.

In a related announcement, John Cawthron has resigned from his position as Chief Executive Officer and Chairman of the Board. Mr. Cawthron, who led the organization in its extraordinary business turnaround over the last two years, has stepped down in order to spend more time with his family and to pursue other business interests.

Mr. Utecht, who joined TIMCO in 2005, has played an integral role in TIMCO's recent rapid growth and emergence as the largest and most widely respected independent aviation maintenance provider in the Americas. In total, Mr. Utecht brings more than 40 years of aviation, maintenance and operational experience to his new office.

Mr. Carter, with TIMCO since 2002, joins Mr. Utecht in executing the duties of the Chief Executive Officer. Mr. Carter has more than a decade of financial management leadership, and the Board recognizes his well-proven business acumen as a tremendous asset to the Office of the CEO and to the organization as it continues to execute its growth strategy.