Pilgrim International, Inc. Announces Key Management Changes

Manufacturer Allies With Investment Bank TransCapital Partners, LLC to Reposition for RV Industry's First Composite Units

MIDDLEBURY, Ind., May 27 -- Pilgrim International, Inc. (Pilgrim) announced a restructuring of key management personnel to help streamline the development and implementation of their new composite product launches. Doug Lantz has been promoted to Chief Operating Officer (COO) and will be responsible for the day-to-day operations of the new company. Lantz was Vice President of Product Development, and was instrumental in the processes that drove the composite project. He is a twenty-year veteran of the industry with extensive sales, product development and operational management experience. "Doug has been involved in every aspect of the company throughout the Composite development process," commented Steve Bennett, Presiden. "He is uniquely suited to lead Pilgrim into the future with all of the new materials and processes involved."

VP of Sales & Marketing Jerry Sell will become VP of Product Development & Marketing. He will continue to drive the changes necessary to implement and market the new product lines. Industry veteran Len Ropp will become VP of Sales. Ropp held sales leadership positions for many years within the RV Industry, most notably as National Sales Manager for Carriage, Inc.

Steve Bennett remains President of the company. Jerry Rummell continues as Chief Financial Officer (CFO), and Industry icon and founder Dave Hoefer continues to remain actively involved as Chairman of the Board.

Pilgrim enlisted the aid of Chicago based Investment Bank TransCapital Partners, LLC to assist in creating and sustaining a competitive advantage in the RV marketplace with the introduction of their new composite products. "TransCapital Partners, LLC has really helped us in the transformation from industry practices that haven't changed in fifty years," stated Hoefer. "They challenged us to look beyond our core processes and recognize the dynamics of a changing industry."

About Pilgrim International, Inc.

Pilgrim International, Inc. manufactures high quality, mid-price range trailers and fifth wheel RVs. The company continues with its award-winning design and innovation, building environmentally conscious products utilizing state-of-the-art thermoplastic composite materials. In November 2007, Pilgrim introduced the first all-composite travel trailer using the new CosmoLite thermoplastic fiber-reinforced composite.