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Quasar Aerospace Industries, Inc. (QASP) Announces Management Change, CATS Application Approval, And Conference Call Rescheduling

|Includes: Quasar Aerospace Industries, Inc. (QASP)

Quasar Aerospace Industries made several announcements today concerning a management change, the acceptance of its CATS (Computer Assisted Testing Service) application, and the rescheduling of a previously announced conference call.

Mr. William F. "Bill" Cirmo II has been nominated to fill the void as Chief Operating Officer and would be responsible for overseeing flight training and ground operations for subsidiaries. Mr. Henderson is no longer with the corporation and, in accordance with his employment agreement, has resigned from all positions in Quasar and its subsidiaries.

Bill Cirmo began his distinguished career in aviation as an aviator for the US Navy, receiving his Wings of Gold in 1977. Specifically, he served as a combat Naval Aviator piloting the Lockheed P-3C Orion as a Patrol Plane Commander and Mission Commander over several deployments in Sicily, Iceland, Spain, Portugal, and a handful of South American countries. Mr. Cirmo moved on to work as a flight instructor for the T-34C Turbo Mentor, winning two Naval Commendation medals for outstanding performance of his duties. He was named squadron Instructor of the Month on several occasions, as well as Training Air Wing 5 Instructor of the Quarter. He is qualified as a CFI, CFII, and MEI. Recently, he received distinction as a FAA Gold Seal Instructor.

A-Cent Aviation, Inc., a Quasar subsidiary, announced that its application to be a Computer Assisted Testing Service in Jacksonville, Florida has been approved. With this approval, A-Cent will be allowed to administer the highest quality computer-based knowledge examinations within a quiet and conducive testing environment that is under strict security controls. A-Cent's CATS facilities offer conveniently located test sites to candidates, an example being its Herlong Airport site, which is the only CATS facility in the local area.

Lastly, the previously announced conference call for shareholders and the investment community has been moved from May 9, 2012, to Wednesday, May 16, 2012, at 2:30 p.m. EDT. U.S. and international callers who wish to participate should dial +1 (712) 432-0900, and then enter the participant access code, 497592#. Participants are encouraged to access the call at least five minutes before it is scheduled to begin. A playback of the call will be available later at +1 (712) 432-0990.

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