Press Release

Issued by Green Charter 2022.

September 24, 2007

Adam Aircraft today announced the first flight of A700 Serial Number 004, the second conforming aircraft which will be used for Federal Aviation Administration (FAA) flight-testing. The very successful 1.3 hour first flight occurred Friday, August 24, 2007 out of Centennial Airport (KAPA), Englewood, Colorado. According to flight crew Pilot in Command Jim Jones and David Hayes, Second in Command, "The aircraft flew very well and demonstrated excellent controllability and handling."

"The A700 TC (Type Certificate) is one of our two most important objectives for the entire company," said Adam Aircraft Chairman and CEO John Wolf. "Jet 4's first flight and its entry into the flight test program is a major step toward that objective. It is a success that many, many members of our team contributed to with unselfish commitment. We should celebrate, and remind ourselves that this is the kind of accomplishment that not only builds our own confidence but also the confidence of our investors and customers that are counting on us. Our second objective, Make Production Fly, will help us ensure we are ready to produce the A700 in high volume once the aircraft is certified."

"This is an impressive achievement for the entire company. Jet 4 will join Jet 3 which first flew just over four months ago. Jet 4 will focus on power plant and systems work including flight into known icing. Our flight test program has already benefited from over 1,000 hours of flight testing of our first three test articles. Jet 3 has already demonstrated very predictable flying qualities and performance and we look forward to Jet 4 accelerating our flight test efforts. This is another significant milestone in the effort of certifying the A700," said Tom Bisges, Senior VP Engineering for Adam Aircraft.