Press Release

Issued by National Jet Express.

February 2, 2011

Cobham Aviation Services Australia has exercised its options to buy two BAe 146 regional jetliners that it has been leasing from BAE Systems. The two aircraft are a BAe 146-100 and a bigger Series 300.

The two aircraft are part of a fleet of 17 BAe 146 and Avro RJ aircraft that are used by the operator on behalf of multinational mining companies on 'Fly in; Fly out' contracts. They are also used on behalf of Australian air Express on overnight freight flights along Australia's eastern seaboard.

During 2010, in addition to the buy-out of the two BAe 146s, Cobham added a further four BAe 146/Avro RJs to its fleet in separate deals with BAE Systems. This continued the long-term commercial relationship that has existed for around 20 years between the two companies, since the first transaction entered into between them in the early 1990s.

Recognising the continued utility of the BAe 146 for its clients and operations, Cobham has secured the Series 100 for the long-term as it intends to offer its customers access to gravel and unprepared airstrips in Australia and for which the smaller variants of the BAe 146 and Avro RJ family are ideally suited.

The BAe 146 design has a competitive advantage over low wing aircraft and also rear-engined aircraft due to the position and small diameter of its engines and the ground clearance afforded by the high wing. The aircraft was also designed from the outset to be operationally self-sufficient at remote airfields.

The bigger BAe 146-300 that has been bought by Cobham will continue to be used on valuable mining resource contracts for major exploration companies