Golden Years - Daily Local News

KEYSTONE HELICOPTER PROMOTES PETER WRIGHT JR. TO VICE CHAIRMAN

WEST CHESTER, Pa., December 16, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, has promoted Peter Wright Jr. to the position of Vice Chairman. Mr. Wright began his career at Keystone Helicopter Corporation in 1968, shortly after graduating from Hobart College. He was appointed secretary/treasurer in 1970, vice president in 1973 and president in 1985.

In recognition of Mr. Wright’s dedication and leadership, Steve Townes, CEO of Keystone Helicopter and founder of Ranger Aerospace, presented the new vice chairman with the Keystone Helicopter Leadership Award at the company’s gala holiday party on December 13. In so doing, Mr. Townes said: “Under Peter’s leadership over the last 35 years, Keystone Helicopter has grown into one of the largest and best known helicopter service companies in the industry, with more than 475 employees and four operating divisions. We are pleased to honor him as he takes on his new role within the Keystone Helicopter organization.”

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large technical services depot and completion center near Philadelphia. The firm also operates a large fleet of turbine helicopters in numerous locations across several eastern states, primarily in the air medical mission. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.

KEYSTONE HELICOPTER SIGNS ENGINE SERVICES AGREEMENT WITH AIR EVAC LIFETEAM

WEST CHESTER, Pa., December 11, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, has signed a five-year agreement with Air Evac Lifeteam to provide exclusive overhaul and repair services for the aeromedical operator’s rotorcraft Rolls-Royce Model 250 engines. Air Evac Lifeteam, founded in West Plains, Missouri, in 1985, operates 42 helicopters from 36 bases serving ten states in the Midwest and South.

Steve Townes, CEO of Keystone Helicopter and founder of Ranger Aerospace, said about the Air Evac Lifeteam agreement: “We are extremely pleased to be working with this high quality operator. We don’t view this as just a customer/vendor relationship, but rather a partnership, and Keystone Helicopter looks forward to a long mutually beneficial association with Air Evac Lifeteam.”

Colin Collins, President and CEO of Air Evac Lifeteam, said: “We looked at a lot of different companies before deciding to work exclusively with Keystone Helicopter.  We are very impressed by their level of professionalism and their ability to keep up with our large and ever-growing fleet.  We look forward to a long-term, mutually beneficial relationship between our two companies.”

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large technical services depot and completion center near Philadelphia. The firm also operates a large fleet of turbine helicopters in numerous locations across several eastern states, primarily in the air medical mission. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.  

Additional information about Air Evac Lifeteam is available on the Web at: www.lifeteam.net.  

KEYSTONE HELICOPTER ADDS THREE INSTITUTIONAL INVESTORS

WEST CHESTER, Pa., October 22, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, announced today that three new Private Equity/Venture Capital groups have made a “substantial investment” in Keystone Helicopter. The new investor partners are: Brown Brothers Harriman, one of the oldest and largest partnership banks in America with offices throughout the world; Spring Capital Partners, L.P., a local Radnor, Pa based company whose focus is on high performance medium sized companies in the Mid-Atlantic U.S. and Merion Investment Partners, L.P. also a local company based in King of Prussia, PA. and who, according to their investment guidelines, “look at companies that have strong growth potential, proven management teams, and a strategic competitive advantage.”

The three investor groups have joined with Keystone Helicopter Corporation’s original two institutional investors, Meridian Venture L.P. and Argosy Investment Partners II L.P. who have also recently increased their investment in Keystone.

Steve Townes, CEO, Keystone Helicopter Corporation, said, “These five very substantial investment companies have rather vast capital resources under their management and they give Keystone Helicopter Corporation just the right mix of capital partners to grow our company significantly. Quality is the key word here. Quality partners invested in a company which has built its 50 year old reputation on providing quality service. This is truly a company to watch!”

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large technical services depot and completion center near Philadelphia. The firm also operates a large fleet of turbine helicopters in numerous locations across several eastern states, primarily in the air medical mission. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.

For more information on:

Meridian Venture, L.P. see www.meridianventure.com

Argosy Partners ,L.P. see www.argosycapital.com

Brown Brothers Harriman see www.bbh.com

Merion Investment, L.P. see www.merionpartners.com

Spring Capital Partners, L.P. see www.springcap.com

KEYSTONE HELICOPTER PROMOTES DAVID FORD TO
SENIOR VICE PRESIDENT - TECHNICAL SERVICES
WEST CHESTER, Pa., October 17, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, has promoted David A. Ford to the position of Senior Vice President – Technical Services. Since joining Keystone Helicopter in 1996, Mr. Ford has served as Vice President and General Manager of the Helicopter Services Division. In his new position he has overall management responsibility for all aspects of Keystone Helicopter’s technical services including the Engine Services Division, Keytech Engineering and Materials Management.

Prior to coming to Keystone Helicopter, David Ford was General Manager of the Regional Airline Business Unit, Seating Products Division of B/E Aerospace. He has also worked in a variety of program management, engineering and customer support positions at Bell Helicopter and Textron Lycoming. Ford holds a Bachelor’s degree in Aerospace Engineering from Georgia Tech, and a Master’s degree in Industrial Administration from Purdue University.

Steve Townes, CEO of Keystone Helicopter and founder of Ranger Aerospace, said: “We are pleased to have David take a more senior operational leadership role at Keystone Helicopter. We have created this position as part of our unwavering commitment to invest for the growth and development of our maintenance, repair and overhaul (MRO) services, as well as our completions and modification business. We want to insure Keystone Helicopter’s long held reputation as one of the highest quality rotorcraft services companies in our industry.”

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.

KEYSTONE HELICOPTER SIGNS CONTRACT TO COMPLETE VIP S-92 AIRCRAFT

WEST CHESTER, Pa., September 29, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, has signed a five-year contract with Sikorsky Aircraft Corporation to provide completion services for the new VIP S-92 helicopter. The completion work will include design, certification and custom interior installation, as well as exterior painting of the aircraft.

Steve Townes, CEO of Keystone Helicopter and founder of Ranger Aerospace, said: “We are very proud to have a contributing role on this new aircraft. The signing of this non-exclusive agreement takes the Sikorsky/Keystone Helicopter world team partnership that began with the S-76 completions program to the next level.”

The first VIP helicopter under the S-92 contract is scheduled to be completed in December 2004 for delivery to one of Sikorsky’s large northeast corporate customers. Keystone Helicopter will perform the work at their West Chester, Pennsylvania, facility.

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com. 

KEYSTONE HELICOPTER TO REFURBISH CLEVELAND'S METRO LIFE FLIGHT FLEET

WEST CHESTER, Pa., September 3, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, has been awarded a contract to refurbish all four of the Metro Life Flight S-76A helicopters that provide air medical transport for MetroHealth in the Northeast Ohio area. The project, which will take about a year, will include repainting the exteriors and installing new state-of-the-art avionics, as well as refurbishing the medical interiors.

Charlene Mancuso, Operations Director for the program said:  “Keystone Helicopter has been our partner for more than a year, providing flight management services for our program. They know our aircraft and have been very considerate of our need to keep our aircraft in the best possible flight configuration so we can meet our mission profile. Therefore, we are pleased that they will be doing the refurbishment work.”

MetroHealth is a 728-bed public teaching hospital affiliated with Case Western Reserve University. It is the largest volume Level I Adult and Pediatric Trauma Center in Ohio. Their Metro Life Flight program provides around-the-clock critical care transport to MetroHealth and more than 60 other regional hospitals throughout Ohio. For more information, visit their Web site:  www.metrohealth.org.

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.

KEYSTONE HELICOPTER RECEIVES NBAA COMMERCIAL BUSINESS FLYING AWARD

WEST CHESTER, Pa., July 29, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, has received the National Business Aviation Association’s Commercial Business Flying Award, in recognition of five years—a total of 49,441 consecutive hours—of flying without an accident.  At the same time, ten Keystone Helicopter pilots were recognized for 1500 – 13,000 hours of safe flying, and Keystone Helicopter’s maintenance department received a safety award, with six personnel recognized for professional maintenance service without an accident, spanning six to 30 years of experience.

Steve Townes, CEO of Keystone Helicopter and founder of Ranger Aerospace, said: “We are very proud of our safety record, and we are pleased to receive these awards. Safety is our top priority at Keystone Helicopter, and we are continually striving to enhance flight and ground safety in all our operations.”

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.

KEYSTONE HELICOPTER APPOINTS NEW MATERIALS "CZAR"

WEST CHESTER, Pa., July 18, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, has appointed Fred Kostanoski to the position of Director of Materials. Prior to his appointment by Keystone Helicopter, Mr. Kostanoski was the materials director at Air Methods Corporation where he managed the purchasing, inventory, shipping, receiving warranty and insurance claims activities supporting a fleet of 165 rotary and fixed wing aircraft at 100 operating locations around the U.S.

Steve Townes, CEO of Keystone Helicopter and founder of Ranger Aerospace, said: “Fred’s extensive knowledge of the rotorcraft services business and his successful track record as the materials director for Air Methods make him well qualified to assume this very critical position with our company. I am delighted that he is joining our team.”

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.

KEYSTONE HELICOPTER ENGINE SERVICES DIVISION RECEIVES ROLLS-ROYCE AWARD

WEST CHESTER, Pa., July 14, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, is pleased to announce that their Engine Services Division received the Program Investment Award at the annual Rolls-Royce Model 250 Authorized Maintenance Center Awards. This award recognizes the AMC with the most investment to improve their unique contribution to the Model 250 program.

Steve Townes , CEO of Keystone Helicopter and founder of Ranger Aerospace, said: “We are very proud to receive this award. We have invested significantly in our engine division for extensive test cell renovations, new machine shop equipment, new coordinate measuring machines, and another completely new test cell. We have also added more engines to our loaner support pool. And most of all, we have made a significant investment in land and new operational facilities at our new Heliplex.”

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.

KEYSTONE HELICOPTER NAMES LARRY ADAMS VICE PRESIDENT OF FLIGHT SERVICES DIVISION

WEST CHESTER, Pa., June 11, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, has appointed Larry W. Adams to the position of Vice President and General Manager of the Flight Services Division. Prior to his appointment by Keystone Helicopter, Mr. Adams was Director of Flight Operations for Rocky Mountain Holdings, a large helicopter operator. He also served for many years as operations manager with Petroleum Helicopters, Inc.

Steve Townes , CEO of Keystone Helicopter and founder of Ranger Aerospace, said: “ Larry Adams brings a wealth of flight operations and management experience to Keystone Helicopter. He is an experienced pilot and check airman, which gives him special insight into the types of operational is sue s our many pilots face on a daily basis. Larry is highly regarded in the rotorcraft industry, and we are very happy that he is joining our leadership team.”

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com    

KEYSTONE HELICOPTER PROMOTES RICK HINKLE TO VICE PRESIDENT OF PROGRAM DEVELOPMENT

WEST CHESTER, Pa., June 10, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, has promoted Rick Hinkle to the newly created position of Vice President of Program Development. Mr. Hinkle, who joined Keystone Helicopter in 1984, has been responsible for the firm’s marketing and advertising campaigns for the past 14 years. He developed many of Keystone Helicopter’s most successful marketing programs, such as the Keystone Medallion Program, and has been instrumental in growing the firm’s business from a small refurbishment shop into a premier completion center for complex turbine helicopters. In addition, Mr. Hinkle has been Vice President and General Manager of Keystone Helicopter’s Flight Services Division for the past three years, during which time the flight program grew into one of the largest air medical operations in the eastern United States.

KEYSTONE HELICOPTER TO HOST TRAINING SYMPOSIUM FOR AVIATION INDUSTRY MAINTENANCE TECHNICIANS

WEST CHESTER, Pa., May 21, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, will host an aviation maintenance training symposium in conjunction with the International Society of Aviation Maintenance Professionals on Thursday, May 22, 2003, at their West Chester base. Bill O’Brien, an FAA National Resource Specialist from FAA Headquarters, Washington DC will conduct the FAA-approved course.

Steve Townes, CEO of Keystone Helicopter and founder of Ranger Aerospace, said: “This is the second time in the last year that Keystone Helicopter has hosted aviation dignitaries from the FAA and NTSB for maintenance training. Bill O’Brien is nationally recognized and respected as one of the FAA’s top training leaders. We at Keystone Helicopter have always prided ourselves on the quality of our work. This training provides yet another opportunity for our many technical professionals to stay current.”

As with the previous symposium, this training is not just for Keystone Helicopter employees; it is open to all qualified aviation maintenance technicians. Among the more than 160 who have registered for the symposium are technicians from such diverse employers as New Jersey State Police, Chester County Aviation, Eurocopter, Sikorsky, Aero Taxi, and IAC, Ltd. from Fort Worth, Texas. Those who complete the course will have met the requirements for FAA Inspection Authorization renewal, the FAA Aviation Maintenance Technician Awards program, and will receive credit toward ISAMP certification.

ISAMP, an FAA-endorsed organization dedicated to advancing safety and professionalism, demands higher standards of maintenance training and ethical conduct for aviation technicians than those required by the FAA.  Keystone Helicopter leads the industry with their maintenance training program by making available to employees the best trainers in the industry for meeting these higher ISAMP standards.

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com    

KEYSTONE HELICOPTER PARENT APPOINTS CHIEF FINANCIAL OFFICER

WEST CHESTER, Pa., May 16, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, announced today the appointment of Stephen J. Gambone as Senior Vice President and Chief Financial Officer of Keystone Ranger Holdings, Inc., and all subsidiaries. Immediately prior to joining Keystone Ranger Holdings, Mr. Gambone was Controller & Chief Accounting Officer for Teleflex Incorporated, a large public company with interests in aerospace and other markets (NYSE: “TFX”). Gambone, with a Fortune 1000 and CPA background, will direct all internal and external financial matters for the rotorcraft holding company and its operating units.

Steve Townes, CEO of Keystone Helicopter and its parent company, and founder of Ranger Aerospace, said: “Steve Gambone brings enormous new talent to our leadership team. We are poised for continued growth, and Steve’s impressive qualifications and direct-fit experiences will help us reach our goals.”  

Mr. Gambone’s 24-year financial career is distinguished by his operational oversight and fiscal leadership role with numerous small to medium-sized subsidiaries, as well as audit management with PricewaterhouseCoopers. At Teleflex, a $2 billion company, Gambone guided the actions of 80 business unit controllers across numerous markets, including aerospace (www.teleflex.com).

Mr. Gambone replaces James McCaughan, who left the company earlier in the year to pursue other business interests.

Mr. Gambone said: “In the aviation industry, there are very few bright success stories these days--Keystone Helicopter is certainly one of them. Arguably, Keystone Helicopter is one of the best performing venture capital-backed aviation services enterprises currently in the entire industry. We will continue to fuel and grow the company internally and through additional acquisitions, always with a Quality First business philosophy.”

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia, and is building new, even larger facilities near Chester County Airport, Pennsylvania.

Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures.  The venture consortium is led by Ranger Aerospace LLC, and includes Meridian Venture Partners, Argosy Investment Partners, CD Ventures, and other private investors.

Ranger Aerospace LLC, headquartered in suburban Philadelphia, is a privately held investment and management holding company with private equity institutions, venture capital companies, and management as shareholders. Ranger and its co-investors add value to acquired companies via seasoned veterans experienced in aviation services, aerospace programs, engineering, finance, corporate development, MIS, marketing & strategic planning, Total Quality Management, mergers & acquisitions, post-merger integration, and turnarounds. Ranger’s previous successful aviation ventures include Aircraft Service International Group (www.asig.com), one of the world’s largest airfield services companies.

Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com .  For information about Teleflex Corporation, visit www.teleflex.com.

Forward Looking Statements: The Company from time to time may discuss forward-looking information. Except for factual historical information, all forward looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that are beyond the Company’s control and may cause actual results to differ materially from management’s expectations

KEYSTONE HELICOPTER DIVISIONS EARN FAA'S DIAMOND AWARDS

WEST CHESTER, Pa., May 7, 2003 — Keystone Helicopter Corporation's Helicopter Services Division and Engine Services Division for the sixth consecutive year have each received FAA Diamond Certificates. The FAA awards this highest safety and training certificate to those aviation companies who lead the industry in measurable commitment to training; to qualify, a minimum of 25 percent of eligible employees must be recipients of individual FAA training awards. Keystone Helicopter earned the certificates with 58 percent of eligible employees in the two divisions receiving individual awards.

Steve Townes, CEO of Keystone Helicopter and founder of Ranger Aerospace, said, “Keystone Helicopter invests thousands of man-hours each year in training, safety programs, and Total Quality performance enhancements. These FAA Diamond Awards are a tangible validation of our total commitment.”

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com    

KEYSTONE HELICOPTER'S ENGINE DIVISION NAMED TURBOSUPPORT CENTER

WEST CHESTER, Pa., May 5, 2003 — Keystone Helicopter Corporation's Engine Services Division has been designated a TurboSupport Center by Turbomeca, the world’s largest producer of civil helicopter engines. Keystone’s ESD, which has been supporting Turbomeca engines since 1992, is certified to work on both the Arriel and Arrius engines. In this expanded role, the firm will perform line and heavy maintenance, engine removal and installation, borescope inspections and designated parts replacement.

Steve Townes, CEO of Keystone Helicopter and founder of Ranger Aerospace, said, “We are very pleased that Turbomeca has recognized our superior engine capabilities by this designation. We look forward to continuing our successful association with them. We are investing heavily to expand our technical services capabilities on rotorcraft engines and components.”

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.    

KEYSTONE HELICOPTER NAMES RICHARD E. MOORE DIRECTOR OF INFORMATION TECHNOLOGY

WEST CHESTER, Pa., April 2, 2003 — Keystone Helicopter Corporation, an industry leader in helicopter services for 50 years, has appointed Richard E. Moore to the position of Director of Information Technology. In this new position, he will oversee all company IT functions and be responsible for providing leadership and direction enabling the company to achieve strategic technology and business objectives.

Mr. Moore has more than 20 years of experience in all phases of IT, including envisioning, designing and implementing new IT systems. Prior to joining Keystone Helicopter, he was Northeast Region Director at Contemporary Technologies, Inc. in New Castle, Delaware. He has also held similar positions with Rollins Truck Leasing Co. and Rollins Environmental. “Dick’s background and experience fit in well with our current business needs,” said Peter Wright, President of Keystone Helicopter, “and I am pleased that he has chosen to join our company.”

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.    

KEYSTONE HELICOPTER ENGINE SERVICES DIVISION NAMES PERRY SILER SOUTHEAST SALES AND SERVICE MANAGER

WEST CHESTER, Pa., April 2, 2003 — Keystone Helicopter Corporation, an industry leader in helicopter services for 50 years, has appointed Perry H. Siler as Southeast Sales and Service Manager for the Engine Services Division.

"Perry brings a wealth of knowledge and experience regarding the Roll-Royce Model 250 engine, along with a focused commitment to customer satisfaction in everything he does. We are very pleased to have him as part of our team," stated John H. Loney, Vice President and General Manager of the Engine Services Division.

Working together with the Southeast Sales and Service Engineer, Bob Swailes, Mr. Siler—who resides in Port Orange, Florida—will coordinate support activities for customers throughout Florida, Georgia, South Carolina, Alabama and Tennessee. They will also provide support to the Caribbean and South American regions.

Customers may contact Mr. Siler or Mr. Swailes at the following phone numbers:

Perry Siler:  386-322-7634 (office/fax); 386-679-6603 (mobile)
Bob Swailes:  954-753-2290 (office); 954-224-1199 (mobile)

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com    

KEYSTONE HELICOPTER FOUNDER TO RECEIVE OVERHAUL & MAINTENANCE LIFETIME ACHIEVEMENT AWARD

WEST CHESTER, Pa., February 6, 2003 — Keystone Helicopter Corporation, an industry leader in helicopter services for 50 years, is pleased to announce that its founder, Peter Wright Sr., has been selected to receive Overhaul & Maintenance magazine’s Lifetime Achievement Award. Overhaul & Maintenance is a publication of Aviation Week/McGraw-Hill, the world’s largest publisher of aviation magazines.

Mr. Wright, one of the original “Flying Tigers” of World War II fame, founded Keystone Helicopter in February 1953, in Philadelphia, during the period when the helicopter was first finding viable commercial applications. In a letter to Mr. Wright, Overhaul & Maintenance Editor-in-Chief Frank Jackman stated, “Our editors selected you to receive this award because of your insight and innovation in providing maintenance, repair and overhaul helicopter services for fifty years.”

The prestigious accolade, previously awarded only twice in the magazine’s history, will be presented at a special aviation industry dinner in April in Fort Lauderdale, Florida, during Aviation Week’s Maintenance, Repair & Overhaul 2003 Conference & Exhibition.

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.   Also see www.aviationnow.com for more details about Aviation Week/McGraw-Hill.

KEYSTONE HELICOPTER EMPLOYEE RECEIVES HAI AWARD

WEST CHESTER, Pa., February 6, 2003 — Keystone Helicopter Corporation, an industry leader in helicopter services for 50 years, is pleased to announce that Richard L. Beers, an airframe and powerplant (A&P) mechanic for the Keystone Helicopter-managed Geisinger Medical Center’s Life Flight program, has been awarded Helicopter Association International’s 2002 Aviation Maintenance Technician Award. The coveted award is given annually to only one individual in the industry.

Mr. Beers received his A&P license in December 1977. In July of 1981, he joined Geisinger Medical Center’s new flight program as its first helicopter mechanic, and has spent most of his career there, working as a Keystone employee since 1991. In 1996, he was awarded the Eurocopter Master Technician Award for 15 years of excellence in helicopter maintenance. “Rich’s commitment to safety, his dedicated service and ‘can-do’ attitude have contributed significantly to the safety record of Keystone Helicopter and the EMS helicopter industry,” said Rick Hinkle, VP and General Manager of Keystone’s Flight Services Division.

Mr. Beers will receive his award during the HAI “Salute to Excellence” awards ceremony to be held on February 11, 2003, at HELI-EXPO 2003, in Dallas, Texas.

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.  

KEYSTONE HELICOPTER TURNS 50 YEARS OLD

WEST CHESTER, Pa., January 31, 2003 — Keystone Helicopter Corporation will mark its 50^th anniversary on Monday, February 3, with a celebration at their West Chester facility that will include four huge cakes to serve the 275 West Chester employees.  

Keystone Helicopter, one of the oldest firms in the industry, began operations at the Philadelphia International Airport on February 3, 1953 . Peter Wright, a member of the original “Flying Tigers” of World War II fame, founded the company during the period when the helicopter was first finding viable commercial applications.  

“Not only have we been providing quality rotorcraft services for fifty years,” stated President Peter Wright, Jr., the founder’s son, “but our 50^th year was our best ever, with 135 new employees and a 35% growth rate.”

Anticipating continued growth, Keystone Helicopter will enter its second 50 years in new larger facilities bordering the Chester County (Pa.) Airport. The firm recently purchased 15 acres and a 52,000-square-foot industrial building which will be retrofitted for shop operations. The company is negotiating to obtain additional acreage, with plans for substantial hangar facilities to be built adjacent to the large shop building.

Keystone Helicopter operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.  

KEYSTONE HELICOPTER HOSTS SENATOR SANTORUM

WEST CHESTER, Pa., January 30, 2003 — Keystone Helicopter Corporation, an industry leader in helicopter services for 50 years, welcomed U.S. Senator Rick Santorum (R-Pa.) to their West Chester facility on Friday, January 24, 2003.

Keystone Helicopter officers met with the senator and the following dignitaries to familiarize them with Keystone Helicopter’s facilities and operations:  State Senator Bob Thompson, State Representative Tim Hennessey, State Representative Art Hershey and Chester County Commissioner Colin Hanna.

After presenting a short video highlighting the company’s history and mission, Steve Townes, chairman and CEO, told the assembled officials, “As we celebrate our 50^th anniversary, Keystone Helicopter is committed to growing the business into a premier rotorcraft center, providing many additional good, high-wage, technical jobs. We are investing for greater capacity and deeper technical strengths and we will be entering many new markets,” he added, as he and other company leaders escorted the group through Keystone’s impressive rotorcraft services operation.

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.  

KEYSTONE HELICOPTER ACCEPTED INTO HAI PLATINUM PROGRAM OF SAFETY

WEST CHESTER, PA., January 22, 2003 — Keystone Helicopter Corporation, an industry leader in helicopter services for 50 years, has received recognition by Helicopter Association International as one of the inaugural group of Platinum members accepted into HAI’s Platinum Program of Safety.

Keystone Helicopter qualified for the award by meeting stringent criteria in four areas:  management, operations, systems and aviation safety program.  Keystone’s accepted application certified their compliance with the following criteria:  a functional, single-source operations manual; a comprehensive training program; an annual safety audit; and operation statistics regarding aircraft and hours flown.

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.  

KEYSTONE HELICOPTER CLOSES ON PHASE ONE HELIPLEX FACILITY ACQUISITION

WEST CHESTER, PA., January 7, 2003 — Keystone Helicopter, an industry leader in helicopter services for 50 years, completed its planned Phase One facilities acquisition on December 31, 2002, for its future rotorcraft services Heliplex in Chester County, Pennsylvania.

The initial 15 acres, bordering Chester County Airport in Coatesville, Pennsylvania, includes a 52,000-square-foot industrial building which will be retrofitted for Keystone Helicopter’s shop operations. The company is negotiating to obtain additional acreage, with plans for substantial hangar facilities to be built adjacent to the large shop building.

Steve Townes, CEO, said, “Keystone Helicopter is on the move. We are growing aggressively. The new Heliplex is an integral part of our growth strategy. We thank the state of Pennsylvania for its help in allowing us to relocate so many good jobs to such a great community.”

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large fleet of turbine helicopters in multiple locations across several eastern states, primarily in the air medical mission. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com and at www.rangeraerospace.com.