Three Former Airline Executives Join Seabury

NEW YORK, October 15, 2003 - Seabury today announced that three former airline executives have joined the firm and will work with its airline industry clients in its consulting and technology solutions practice.

• Gianna F. Monsch, senior vice president, was vice president of Revenue Information at Swissair and head of Cap Gemini Ernst & Young's airline sector for Europe.
• James Szymanski, senior vice president, held executive positions with US Airways and Continental Airlines before serving as vice president of Revenue Accounting Services for Navitaire, a subsidiary of Accenture.
• Rich Coskey, vice president, was general manager of Flight Profitability & Operational Analysis at Delta Air Lines and a senior consultant in Ernst & Young's transportation practice. He also worked at American Airlines

"The range of expertise that these seasoned airline executives bring from their work inside airline companies and as consultants to the industry will help our customers as they explore ways to improve business practices and apply technology to enhance profitability," said John Luth, chairman, president and CEO of Seabury.

Founded in 1995, Seabury provides investment banking, financial advisory, restructuring and consulting services for business services, insurance, real estate, transportation, travel, and technology industries. Seabury currently serves as principal restructuring advisor to Air Canada in its restructuring under the Companies' Creditors Arrangement Act (CCAA), which is similar to Chapter 11 of the U.S. bankruptcy code. Previous engagements include successful corporate restructuring and recapitalization assignments for US Airways Group, America West Airlines, Inc., Continental Airlines, Inc. and Kitty Hawk Air Cargo; M&A and financial advisory work for such investment funds as Texas Pacific Group LP and Blackstone Capital L.P.; creditor assignments for such financial institutions as US Eximbank, Deutsche Bank and Lehman Brothers, and insurance advisory work for Liberty Mutual and Fortis. Today, Seabury has arguably the largest group of investment banking and restructuring professionals in the world dedicated to the transportation sector. Recent transactions include structuring and placement in Europe of $100 million of bonds backed by life insurance settlements and a private equity placement for US Airways Group.

Seabury principals have structured over $75 billion in debt, equity, M&A transactions and strategic affiliations. Seabury employs some 75 professionals worldwide who have a wide variety of senior executive expertise in structured lease and debt financing structures for transportation and real estate concerns, enterprise risk assessments, insurance, technology, airline fleet and network planning, airport advisory services and IT management information systems.

Contact: Karen C. Cook
Director of Communications
kcook@seaburygroup.com
+1 212 475 8132