Sturman Industries Names Rick D. Dunagan Chief Executive Officer

Former GM Powertrain Executive to Lead Sturman Industries

WOODLAND PARK, Colo., March 9 -- Carol Sturman, co-founder and Board Chairman of Sturman Industries, announced the appointment of Rick D. Dunagan to the position of Chief Executive Officer. Sturman Industries is a research and development company leading the mechanical world into the digital age. It is at the vanguard of developing and commercializing camless valve train and diesel fuel injection technologies for the automotive industry. Dunagan, who has been an executive director for General Motors Powertrain since 1998 will lead the company strategically and operationally to accelerate the implementation of Sturman's Digital Hydraulic Operating System(TM) (DHOS(TM)) technologies for powertrains globally.

"Rick Dunagan has the leadership skills, depth of industry experience, international acumen, and personal qualities necessary to lead Sturman Industries' future initiatives," states Carol Sturman. "Bringing Rick's skill set and leadership to our team with his solid automotive powertrain and components track record for growth underscores our commitment to commercialize Sturman's technologies.

"Rick is an established leader who knows first hand how to create quality manufacturing and technological alliances in the automotive powertrain and Tier I environments," added Carol Sturman. "His experience in establishing and operating automotive component and powertrain plants throughout the world will be invaluable to establishing our global manufacturing strategic alliances."

Over the past five years, Dunagan, 46, led a consistent and substantial increase in bottom-line operating results of a near-$1 billion specialty engine and transmission group at GM Powertrain. He was also responsible for GM's powertrain branding initiatives, building equity in GM's powertrain brands such as Northstar(R), Vortec(R) and Duramax(R) in support of new vehicle sales. His leadership in this area revived the notion, born in the 60's and 70's, that the brand under the hood enables the vehicle sale.

Controlling intake and exhaust valves digitally allows precise management of the combustion event, enabling real-time variable torque/power curves. With Sturman's DHOS(TM) system, powertrain engineers can infinitely vary the valve lift and duration profile, ending the long-standing compromise due to fixed lobes on camshafts and eliminating many of the complex and costly components used today to throttle the IC engine. Improvements in emissions and reduction in after-treatment are also anticipated.

"We have conventional engines running without camshafts at speeds significantly higher than previously attained -- utilizing our digitally controlled inlet and exhaust valves," noted Eddie Sturman, co-founder and technical lead, whose technological prowess is recognized globally. Eddie Sturman will continue in his current capacity with Sturman Industries, bringing practical solutions to environmental challenges inherent with the internal combustion engine. Application of Sturman's digital valves in hydraulic transmissions is also progressing.

"Rick's joining the team as their leader will allow me more time to do what I love most: create for the future," Eddie noted.

A native of Grand Island, NE, Mr. Dunagan received a BS in Marketing from the University of Nebraska in 1981 and earned an MBA from the University of South Dakota in 1984.

Sturman Industries (www.sturmanindustries.com ) is a global leader in the design, engineering, and development of engine valve actuation architectures, and diesel fuel injection technology, software and controls for automotive, marine, commercial, off-highway and military vehicle manufacturers. The company is privately held and their primary research and development facility is located in Woodland Park, Colorado. Their customer base includes nearly all major OEM IC powertrain producers globally.

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