West Palm Beach
Piaggio America Names Eric Hinson President & CEO

West Palm Beach, Fla. (January 22, 2007) - Piaggio America announced today that President and CEO Tom Appleton is retiring and that Eric Hinson has been named his replacement, effective January 28.

Hinson is a former U.S. Navy pilot and test director with over 25 years of experience in the aerospace industry. With a broad background in business development, finance and marketing, Hinson has served in various senior executive roles with industry leaders around the world.

“I am excited about this new opportunity to lead Piaggio America,” Hinson said. “The company builds the best and fastest business turboprop in the industry and has a strong heritage of innovation and excellence. I look forward to working with the entire Piaggio team as we build toward a very bright future.”

Appleton, a 40-year veteran of the aviation industry, will remain as non-executive chairman of Piaggio America and will continue to support Piaggio Aero, the company’s Genoa, Italy-based parent company.

“Today’s announcement is a major step in securing a dynamic future for Piaggio America, and I know the entire Piaggio Aero Group will benefit from Eric’s experience and strong leadership skills,” said Jose Di Mase, Chief Executive of Piaggio Aero Industries S.p.A.

Piaggio America, Inc. completes, delivers and supports the P.180 Avanti and Avanti II aircraft in the United States, Canada and Mexico, and is a wholly-owned subsidiary of Piaggio Aero Industries, which specializes in the manufacture of aircraft and components for the international corporate and military markets. It also manufactures and services aircraft engines under license and provides engineering, maintenance and support services for its own products from its headquarters and facilities in Genoa, Italy.