BUSINESS — Effective July 3, 2008, the Sea Launch Board of Directors has appointed Kjell Karlsen as President and General Manager. Karlsen replaces Robert A. Peckham, who will be pursuing other opportunities within The Boeing Company. Kjell Karlsen joined the Sea Launch team in 1999, as Vice President and Chief Executive Officer. In 2002, he was promoted to Executive VP and CFO, responsible for the overall financial and business strategy of the company, including development of a long-term business plan and annual budgets. In this position he has been overseeing finance, accounting, taxation, contracts, pricing, insurance, customer finance, and enterprise and partner services. He also has been responsible for financial reporting to the Sea Launch Board as well as business coordination with the Sea Launch partners. Brett Carman will assume Karlsen’s responsibilities as VP and CFO. Carman joined Sea Launch in 1999, most recently serving as the company’s VP and Controller.
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