Press Release

SALE Appoints Chief Commercial Officer

05 Jul 2004

Singapore Aircraft Leasing Enterprise (SALE) has appointed Steven Townend to the post of Chief Commercial Officer. Reporting directly to SALE Managing Director and Chief Executive Officer Robert Martin, Mr Townend assumes overall responsibility for all revenue-generating activities worldwide, including aircraft leasing, sales and fee-based services.

Mr Townend joined SALE in January 2001 as Structured Finance Director, focussing on aircraft sales to airlines and tax-based investors. He has over 13 years experience in aircraft finance and leasing, having previously worked with a number of banks specialising in the sector.

Currently based at SALE's London office, Mr Townend will relocate to Singapore in September.

Robert Martin said that the appointment came as the company moves into the next phase of its expansion.

"With his proven market experience and customer-driven approach, Steven will be well placed to develop all revenue-related activities in line with the SALE business model," he said. "This covers not only the leasing process, but also our emphasis on the continual renewal of the fleet through profitable aircraft sales."

Celebrating its 10th Anniversary this year, SALE is the leading Asia-based aircraft leasing company, with a portfolio currently comprising 60 modern aircraft and 16 more on firm order for delivery through 2006. The company has overseas offices in London, Washington DC and San Diego, California.