Press Release

Issued by Embraer.

March 24, 2011

Embraer and ABC Financial Leasing Co., Ltd., a wholly owned subsidiary of Agricultural Bank of China, signed a Memorandum of Understanding on aircraft financing and leasing at a ceremony held yesterday at Embraer headquarters in São José dos Campos, São Paulo, Brazil.

The agreement is designed to create new financing opportunities for Embraer to sell aircraft in China and other markets, with a focus on the development of China's regional, executive, and agricultural aviation. The agreement could come to as much as US$ 1.5 billion over the next five years.

"We are proud to sign this memorandum with ABC Leasing, one of Embraer's most important partners in China. The agreement will certainly help provide strong support to our customers in China and around the world with ABC Leasing high quality standards," said Paulo César de Souza e Silva, Embraer Executive Vice President, Airline Market. "The deal demonstrates compelling recognition and confidence in Embraer and its products from the Chinese financial community."

"This strategic alliance with Embraer will create a new approach for both sides to jointly develop both domestic and overseas markets," said Mr. Yang Kun, Chairman of the Board of ABC Leasing. "Both parties hold full confidence in each other's market positioning and future prospects. By integrating the assets financing leasing services with industries entities, plus the advantages of each party, we look forward to establishing a win-win collaboration."

With the signing of this agreement, Embraer further strengthens its cooperation with financing institutions in China. As of today, Embraer has 115 firm orders from Chinese customers, with more than 80 aircraft already delivered and operating in China.