ASTAR Air Cargo Announces Finance Department Promotions.

Business Editors

MIAMI--(BUSINESS WIRE)--Nov. 5, 2003

Steve Rossum, Executive Vice President and CFO of ASTAR Air Cargo, announced today two promotions within the company's Finance Department.

Pedro Motta, an ASTAR employee since August 2002, has been promoted to the position of Manager of Financial Planning & Analysis. In his new position, Pedro will be responsible for ASTAR's long-term financial planning model, development of financial management reports, and management of the corporate budgeting process. He will continue his analytical support of the company's risk management activities and corporate decision-making. A commercial pilot, Pedro's background includes a degree in aeronautics, and an MBA from The Kellogg School of Northwestern University, where he studied finance and transportation strategy. Pedro will work out of ASTAR's Corporate Headquarters in Miami and will report to Martin Godly, Director of Financial Planning and Analysis.

In addition, Robert Achenbach, who joined ASTAR in December 2001, has been promoted to the position of Operations Controller. His new responsibilities will include the management of all operations expenses and capital expenditures, working with all department heads to improve contract terms, inventory levels and capital projects, and implementing new financial processes and procedures. Robert has more than 20 years of airline accounting and finance experience and has held controller and director positions with several airlines. He holds an MBA degree from the University of Arizona and is a certified public accountant. Robert will be based out of ASTAR's CVG Hub and will also report to Martin Godly.

About ASTAR Air Cargo

ASTAR Air Cargo is a licensed U.S. air carrier, operating a fleet of 40 aircraft from its hub at the Cincinnati/Northern Kentucky International Airport. The airline provides all-cargo scheduled and charter services on a contract basis for the DHL Worldwide Express network and charter services on a contract basis for other customers including the U.S. Military and the United States Postal Service.