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Mr. Ray has been a director of the company since July 1993. He was President and Chief Executive Officer of World Airways from April 1997 to May 1999, and Chairman of the Board of Directors of the Company from June 1998 to May 1999. Mr. Ray is also currently a director of AMSEC, Inc. From March 1996 to April 1997, he was an aviation and aerospace consultant. Previously he was executive vice president of British Aerospace, Inc.; president and chief executive officer of Pan American World Airways; vice president and general manager of commercial marketing of McDonnell Douglas Corporation; president of Pacific Southwest Airlines; senior vice president of Eastern Airlines and director of Commercial Sales of Lockheed. Mr. Ray is currently Executive Chairman of Technobrands, Inc.
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