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Press Release

Issued by Green Charter 2022.

September 24, 2007

sp n breaks into US fractional market

Grob Aerospace announced today that PlaneSense, one of the five largest US fractional ownership programs, managed by Alpha Flying Inc., has confirmed an order for 25 sp n business jets. The deal introduces the sp n to a broad base of corporate and individual owners who, through PlaneSense, take a share in the fleet at a fraction of the cost of sole ownership.

The first sp n light jets will join the PlaneSense fleet towards the end of 2008. Aircraft for PlaneSense will be configured with a six-passenger Executive interior designed by Porsche Design Studio, with a large galley upfront and enclosed lavatory at the rear of the cabin.

The new fleet of sp njets at PlaneSense will complement the current fleet of 30 Pilatus PC-12 turboprops and will enable a significant expansion for Alpha Flying. PlaneSense was first launched 12 years ago to offer aircraft fractional ownership with a regional focus throughout the Eastern USA.

PlaneSense President and CEO, George Antoniadis, is a graduate of the Federal Institute of Technology in Zurich, Switzerland and holds an MBA from Harvard University. After having worked for McKinsey & Company, Antoniadis founded Alpha Flying in 1992 then created the PlaneSense program in 1996.

"Looking at the expansion of PlaneSense and with owners and potential owners wishing to fly more quickly over longer distances, we determined the versatile sp n best suited our needs. Its 3,000 ft balance field performance and ability to operate from unimproved airfields, coupled with its large cabin, excellent economics and business jet speed up to 41,000ft were key criteria," acknowledged George Antoniadis.

"PlaneSense owners told us they wanted an aircraft that would shorten flight times to Florida, the Bahamas and the Midwest while opening up Bermuda as a destination. Because PlaneSense share owners have become accustomed to the time savings realized by operations into smaller general aviation airports, a twin jet with short field characteristics was high on our list of priorities. The sp n fulfills all of our needs!"

"We are extremely pleased to announce the first signing of a fractional ownership customer and especially proud it is PlaneSense, one of the largest and highly regarded programs in the USA," said Grob Aerospace CEO Niall Olver. "All of us at Grob Aerospace Inc, near neighbors at Pease International Airport in New Hampshire, are looking forward to working with George and his team to help them prepare for a smooth service introduction next year."

Two years' production sold to date

Since its public debut at the Paris Air Show in 2005, Grob Aerospace has secured in excess of 70 orders – or the equivalent to two years' production - for the sp n, taking non-refundable deposits from customers in North America, Africa, Europe and the Middle East. sp n customers are attracted not only by the aircraft's ability to land on short, unpaved runways (gravel or grass), traditionally the domain of a turboprop, but its elegant and spacious cabin and large passenger door.