Logistechs Inc. Appoints Jennings CEO.

Business Editors

Scottsdale-based Logistechs Inc., an inventory planning and asset management firm, announced today that Richard Jennings was appointed Chief Executive Officer on July 1, 2002.

Mr. Jennings, 52, comes to Logistechs from Ryder Systems where he was a vice president

Mr. Jennings replaces Craig Ballard who assumes the role of president and Chief Operating Officer. Mr. Jennings has over 25 years experience in transportation, logistics and supply chain management. During his 14-year career at Ryder he managed several dedicated contracts with major international companies. During the last eight years he grew an Automotive Group from three employees who provided basic transportation planning into a 2000-strong network in seven countries that delivers comprehensive supply chain management solutions, including complex material flow systems that directly support manufacturing.

"Logistechs is taking an important step as a company," said Craig Ballard. "We have an aggressive asset management strategy to provide innovative material support solutions to commercial airlines and their suppliers, and Richard Jennings can take us to the next level. He has successfully managed a JIT supply network for clients such as General Motors. These systems support live manufacturing plants with no margin for error, which is an ideal background for working in the critical, time-sensitive airline material support business," said Ballard.

Jennings stated, "It's very exciting to be involved with the business model being developed at Logistechs. Having worked directly with some Logistechs' principals in the past, I am aware of their capabilities. I've watched the company grow from a vision to an operational entity in a few short years, and I have great confidence in the company. Logistechs' business proposition offers its clients useable, sensible inventory solutions that increase cash flow and reduce inventory costs. Our leading-edge software, our operational capabilities and partners such as GE Capital Aviation Services all create a significant opportunity to grow while offering real, bottom line improvements for our customers," he said.

Logistechs (http://www.logistechsinc.com) provides integrated material planning and support solutions to the airline industry. Based in Scottsdale, Arizona, with offices in Vancouver, Canada, and Bern, Switzerland, Logistechs offers software tools for inventory planning, spare part pooling and comprehensive material support programs. Logistechs customers include America West Airlines, Mesa Airlines, Air Canada, Horizon Air and GE Engine Services, the latter of which uses Logistechs' systems in its GE Rotable Solutions division to offer customized inventory fulfillment to its clients.