Servatron Inc. Announces Retirement of President

SPOKANE, WA – Nov. 12, 2004 -- Servatron Inc. announced today the retirement of Larry Panattoni, Servatron’s President, Officer, effective December 31, 2004.

Mr. Panattoni has acted as the company’s president since inception in May, 2000. He led the present ownership and management team through the successful spin-off of Servatron from Itron.

Mr. Panattoni has served over 30 years in the electronics industry with National Semiconductor and Itron prior to his role as President of Servatron.

“Larry was instrumental in, not only the spin-off from Itron, but also in developing our current structure as a company, stated John Miskulin, VP of Quality/Service. “Servatron began with one customer, and now has over fifteen. Also, we have also been profitable every year of operation. Larry was influential, to say the least, in this success.”

With the pending retirement of Mr. Panattoni, and following the board of directors meeting, Mr. Tod Byers has been named as the new President of Servatron. Mr. Byers has over ten years experience in supply chain management in the electronics industry at Itron and Schweitzer Engineering and 5 years sales and business development experience with Servatron. Additionally, Tod has taught courses in Operations Management at the University of Idaho. Tod received a BS in Operations Management from Pacific Lutheran University and his MBA from Washington State University.

“Change is good” stated Larry Panattoni, during a company wide meeting where his impending retirement was announced. “Servatron has always made its business decisions based upon discussions between the four principles. So while change is good, I don’t expect radical changes in our business.”

Keith Swenson, John Miskulin and I will continue to be equal partners not only in the business, but also in the decision making process,” added Tod Byers. “This method has served us well in the past, and therefore, we will continue using this style.”

Servatron is a full Service EMS provider located in Spokane Washington. Founded in May of 2000, Servatron is recognized as a leading manufacturer and depot repair provider of high mix, medium volume products throughout the Western U.S. Servatron has received numerous accolades since its inception. Most notably, Entrepreneur Magazine has selected Servatron as a “Hot 100” company every year since inception. In 2003, Servatron was ranked # 15 on the listing. For more information, please visit www.servatron.com or call (509) 321-9586.