Press Release

Issued by StandardAero.

December 13, 2010

StandardAero announced today that it has signed a 10-year maintenance agreement with Pel-Air Aviation, a wholly owned subsidiary of Regional Express (Rex), Australia's largest independent regional airline. The maintenance agreement covers Pratt & Whitney PT6A-42 engines on their fleet of King Air B200 aircraft, which will be used to supply fixed-wing air transport to Ambulance Victoria. Included in the agreement is the option for an additional two-year service extension. All work will be conducted at StandardAero facilities in Sydney or Winnipeg, Canada.

"Today's announcement represents another major contract win for StandardAero in Australia and underscores the strength of our reputation as a quality service provider in the global turboprop market," said Ian Smart, senior vice president, Airlines & Fleets, StandardAero. "We're pleased to be Pel-Air Aviation's service provider of choice and that our selection was predicated on a set of multiple value factors including our reputation, price and service flexibility."

Pel-Air will receive full maintenance coverage on all of their PT6 engines. They will also receive spare engine support along with guaranteed turn times.