WASHINGTON, DC, March 17, 2004 – The Board of Directors of the General Aviation Manufacturers Association (GAMA) unanimously approved Argo-Tech Corporation and Diamond Aircraft Industries as new members of the international trade association. Argo-Tech will be represented on GAMA’s Board of Directors by the company’s Chairman, President and CEO, Michael Lipscomb. Diamond Aircraft will be represented on the Board by its President, Peter Maurer.

Argo-Tech Corporation, headquartered in Cleveland, Ohio, is a leading manufacturer of aviation fuel pump and liquid natural gas systems for airframes, engines, and airport ground fueling equipment. Argo-Tech formed in 1986 by the purchase of Power Accessories Division from TRW. The company currently employs over 727 workers in its facilities in Arizona, California and Ohio as well as its international locations in England and Japan.

Michael Lipscomb was named Argo-Tech’s Chief Executive Officer in 1990 and assumed the responsibilities of Chairman of the Board in 1994. He holds a B.S. degree in Industrial Management from Clemson University and an M.B.A. from Furman University. Lipscomb served in the U.S. Army as a Helicopter Maintenance Officer.

Diamond Aircraft Industries, headquartered in Wiener Neustadt, Austria, is a leading manufacturer of single-engine piston-powered airplanes. Founded in 1982, the company has produced over 2,400 airplanes. It currently employs over 450 workers at its facilities in Wiener Neustadt, Austria and London, Canada.

Peter Maurer was named President of Diamond Aircraft in 2000. He initially joined Diamond in 1993 as the Manager of Quality Assurance. Maurer received his Bachelors degree in Mechanical Engineering from McGill University in Montreal, Canada.