LAWA Names Karl Pan to Lead Debt and Treasury Management

(Los Angeles, California – March 2, 2004) Los Angeles World Airports (LAWA) announced the appointment of Karl Pan as financial manager to oversee the Debt and Treasury Management Division.

Pan will be responsible for debt management, rates and charges and capital programs. He will also oversee grant and Passenger Facilities Charge (PFC) activities.

“ He is a financial expert with a proven track record of excellence in areas critical to LAWA’s financial practices,” said Karen Sisson, LAWA chief financial officer. “It is my hope and expectation that his arrival in the finance organization will only increase our ability to provide professional financial management practices and expertise.”

Pan has 25 years finance experience including extensive quantitative financial management skills, economic resource allocation and capital program economic analysis.

He worked for Chemical Bank in New York and the Bank of Hawaii. While at the latter position, he served as executive vice president, global market manager and chief lending officer. His responsibilities included the oversight of 40 branches across the Asia-Pacific region, an operating budget of $90 million and management of close to $5 billion in assets.

Prior to his position with LAWA, Pan served as the senior relationship manager at the Bank of China. He earned a master’s in business administration in finance from UCLA. He is a San Marino resident.

CW/TW – 3/2/04

(Editor, contact Melony Goss at (310) 646-5260 for electronic photo of Karl Pan)