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APNX News New Board Members at Alpine Air Express Adds Management Depth

PROVO, Utah--(BUSINESS WIRE)--Alpine Air Express Inc. (OTCBB: APNX) announced that its operating subsidiary Alpine Air, a leading provider of regional air cargo transport and logistics services, recently elected two new Board of Director members with significant management depth and experience.

According to the Company’s CEO, Mr. Gene Mallette, the new board members include Mr. Michael Brown, a recently retired Managing Director with Wells Fargo Securities and Mr. Ron Pattison, whose pension consulting and administrative firm is well known for their ability to plan for the future. The two gentlemen add significant experience and expertise to the Board’s ability to evaluate new potential business in Alpine Air’s move toward the strongest financial earnings in the Company’s history.

Mr. Brown was most recently the Managing Director and Head of Mergers and Acquisitions in the Investment Banking Group of Wells Fargo Securities where he completed numerous mergers and acquisitions, private placements and initial public offerings for companies in various segments of the consumer and technology industries. Mr. Brown was a member of the Investment Banking Commitment Committee of Wells Fargo Securities and coordinated the firm’s investment banking activities in Southern California.

Prior to joining the predecessor of Wells Fargo Securities, in September 2000, Mr. Brown was a Managing Director in Sutro & Co.’s Investment Banking Department and Head of Mergers and Acquisitions. Before joining Sutro, Mr. Brown was the founding Managing Director of Drexel Burnham Lambert’s West Coast Mergers and Acquisitions Department. During his seven-year tenure at Drexel, Mr. Brown’s transactions included arranging the $1.6 billion sale of Jack Kent Cooke’s cable properties to a consortium of cable operators, Turner Broadcasting’s $1.2 billion purchase of MGM, the sale of the Beverly Wilshire Hotel to Regent International, the sale of the Desert Inn and Sands Casinos to MGM Grand, and T. Boone Pickens’ attempted takeovers of Gulf Oil and UNOCAL. Mr. Brown was a member of Turner Broadcasting’s Board of Directors. Prior to joining Drexel, Mr. Brown was a Partner specializing in mergers and acquisitions at Kidder Peabody & Co. in Los Angeles and Vice President of Mergers and Acquisitions in the New York office of Goldman Sachs. Mr. Brown was a member of the faculty of Harvard Business School.

Mr. Brown is a graduate of Harvard University (M.B.A.) and the Wharton School of the University of Pennsylvania (B.S.&E.). He has served with the U.S. Army Special Forces.

Mr. Pattison received his CPA Certificate in August of 1984 after graduating with a B.A. in Business Administration, specializing in Accounting,. Ron has specialized in the design and administration of defined contribution plans, but also has a working knowledge of the requirements for defined benefit plans. He was the manager of the Defined Contribution practice group in the Albuquerque, New Mexico office of a national consulting firm. Ron left that practice in December of 1990 to start Pattison Pension Specialists, Inc., where he is currently a principal.

Gene Mallette, CEO of Alpine Air, commented, “We are extremely fortunate to attract such highly qualified management to our Board of Directors. As a leader in regional air cargo, our company is faced with strong competition and many opportunities for growth. We look to our seasoned Board of Directors to help our management team with making the best decisions for our Company and our shareholders. We thank Mr. Brown and Pattison for their diligent effort as our newest Board members.”

Founded in 1975, Alpine Air, a wholly owned subsidiary of Alpine Air Express Inc., provides competitively priced scheduled air cargo flights throughout the western and southwestern United States with operations in Montana, Washington, North Dakota, South Dakota and Hawaii. The company has an established client base that includes various contract operations, freight forwarders, and other cargo and logistics firms. Alpine Air provides superior “on time” performance and reliability, together with the flexibility to adapt quickly to the growing frequency and capacity requirements of its clients.

This press release may contain forward-looking statements including the Company’s beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, the successful completion of the proposed leasing transaction, changes in anticipated earnings of the Company and other factors detailed in the Company’s filings with the SEC. In addition, the factors underlying Company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date they are given. The Company does not undertake to update them; however, it may choose from time to time to update them and if it should do so, it will disseminate the updates to the investing public.