Piper Promotes Two Senior Executives to the Positions of CEO and President

VERO BEACH, Fla., June 10 /PRNewswire/ -- Piper Aircraft, Inc. today announced
the promotion of two of its senior executives. Kevin J. Gould, Piper's Vice
President of Operations, will become Piper's Chief Executive Officer, and John
Becker, Piper's Vice President of Engineering, will become President of the
Company.

Effective, June 26, 2009, Gould and Becker will take on the duties of James K.
Bass, who will resign his position as Piper President and CEO.

"All things come to an end," Bass said in remarks to Piper employees today. "I
have successfully completed my mission at Piper and am leaving the company in
very capable hands. What I was brought in to do has been done, and it is now
time for me to move on to other challenges. Kevin, John and the rest of the
management team are exceptionally talented and dedicated to the future of
Piper. They are seasoned, highly determined, and will continue what we have
created: a results-driven culture.

"My primary focus when I came to Piper in 2005 was to turn the company around,
create a strong, highly competitive business, and make Piper a compelling
choice for potential buyers," Bass said. "Now with the sale of Piper to
Imprimis, we have achieved that major milestone."

Imprimis, a corporate finance and investment management firm that operates
from offices in Bangkok, Singapore and Brunei Darussalam, purchased Piper on
May 1, 2009.

Commenting on the management changes, Imprimis Managing Partner Stephen W.
Berger said: "Jim Bass has been an excellent leader of Piper, bringing about
many important changes that made this company an attractive investment for us.
Among Jim's many contributions has been to recruit and develop a team of
capable successors who are now charged with taking Piper forward. We thank Jim
for his enormous contribution and wish him every success in the future. "

Gould, an experienced senior executive with more than 20 years of leadership
roles in engineering, manufacturing and general management, said that the
strong foundation and exceptional accomplishments Piper has achieved under
Bass' leadership place the company in an excellent position to grow and
prosper.

"Under Jim's leadership during the last four years," Gould said, "Piper became
a formidable company that was able to attract new, stable and financially
strong owners committed to investing in Piper's new product initiatives and
expanding the company's market share. With Jim's leadership, our
accomplishments led to nearly eliminating the company's debt, significantly
improving Piper's financial performance and creating a platform for future
success."

Becker, a 20-year Piper veteran who has held key management positions within
the company before becoming Vice President of Engineering, echoed Gould.

"We introduced the PiperJet," Becker said, "the first jet of its kind in
Piper's history and one that our new owners cited as a key element in their
decision to acquire Piper. In addition, we forged a new business alliance with
Honda, which picked Piper because it valued our expertise above all other
general aviation companies."

Other major milestones in addition to the PiperJet that Gould and Becker cited
as key accomplishments under Bass' leadership include:

-- Developing and bringing to market the Meridian G1000 and the Piper
Matrix -- one of the most successful aircraft in the company's
history.

-- Negotiating a $32 million retention package with the state of Florida
and Indian River County that leveled the playing field and made it
possible for Piper to stay in Vero Beach.

-- A 70 percent reduction in employee workplace injuries.

Bass, who came to Piper after leading the financial turnaround of Suntron
Corporation, a Phoenix, Ariz., based $500 million public corporation where he
served as President & CEO, said he was particularly proud of his years at
Piper. "Piper will always have a special place in my heart," Bass said. "It
has been a true honor to have played the role I have and to have served the
men and women of Piper for the past four years."

Gould and Becker were selected with the mandate to continue building and
expanding Piper's market position.

Gould joined Piper in 2005 as Vice President, Operations. Since arriving at
Piper, Gould has overhauled the company's manufacturing operations to meet
production schedule commitments, while improving both cost and quality
performance. Previously he served as Senior Vice President, Operations, at
Adam Aircraft Industries in Denver, Colo., where he set up the company's
manufacturing and quality organizations in preparation for commercial
production of its A500 aircraft.

Gould, who also spent 12 years at the Boeing Company in various operational
roles within Boeing's commercial aircraft business, holds an M.B.A from
Harvard Business School, a J.D. from the University of Southern California
School of Law and a B.A. from Washington State University. He is a licensed
private pilot.

Becker joined Piper in 1989 and has since held various positions of increasing
responsibility and successfully implemented numerous projects including
development of the Meridian (Piper's flagship, turboprop aircraft), the Seneca
V (Piper's premier twin-engine aircraft), two models of the Saratoga (Piper's
midlevel, performance aircraft), and the Archer and Warrior II (Piper's
entry-level aircraft). In his capacity as Vice President of Engineering,
Becker has led the team responsible for the ongoing design and development of
the PiperJet.

Becker, who also worked with Bombardier Learjet as a powerplant
engineer/consultant on the Learjet Model 31A, Model 45 and Model 60, has a
B.S. in Aviation Technology from Embry-Riddle Aeronautical University, an
M.B.A. from the Florida Institute of Technology and a Master Certification in
Program Management from George Washington University. He is an
instrument-rated commercial pilot and an airframe and power plant mechanic.
Additionally, Becker has served as a Designated Engineering Representative for
the FAA.

About Piper Aircraft, Inc.
Piper Aircraft, Inc. is headquartered in Vero Beach, Fla. Piper's rich legacy
is born of 72 years of unparalleled history, with almost 150,000 aircraft
brought to market and more than 160 models certified. Approximately 90,000 of
those aircraft are still flying and being serviced and supported on every
continent by Piper's 65 service centers, 38 dealers and 2,500 field personnel.
Piper is the only general aviation manufacturer to build and offer aircraft
for every general aviation mission, from trainers and high-performance
aircraft for personal and business use, to turbine powered business aircraft
and the PiperJet. For more information about Piper Aircraft and to find an
authorized service center near you, please visit www.piper.com.

SOURCE Piper Aircraft, Inc.

Mark S. Miller, Chief Corporate Spokesperson for Piper Aircraft, Inc.,
+1-772-299-2900, Fax: +1-772-978-6597, mark.miller@piper.com