Press Release

Issued by Nextant Aerospace.

May 12, 2011

Nextant Aerospace, a pioneer in the field of aircraft remanufacturing, announced today that it will unveil the first fully conforming production 400XT aircraft at the 11th Annual European Business Aviation Convention and Exhibition (EBACE) May 17-19, 2011 in Geneva, Switzerland. Demonstrating the future of aircraft design, Nextant Aerospace is committed to providing innovative, well-designed products that compete aggressively and effectively with current production aircraft.

Launched in 2007, the remanufacturing process, pioneered by Nextant Aerospace, was conceived in response to evolving market trends and customer needs. "The company's goal was to create a product that offered the latest in business jet technology without layering in the overwhelming R&D costs that are typically associated with clean-sheet design aircraft," stated Kenn Ricci, company founder. "The release of the first fully conforming production aircraft is a significant accomplishment for Nextant and it brings us one step closer to our first retail delivery later this summer."

N402XT, the tail number given to production number one, will be available for public viewing at the static aircraft display, (Booth #16), and will feature the custom paint design and luxurious cabin interior that will be standard on all 400XT aircraft. The cabin environment will feature several enhancements including the Rockwell Collins VenueTM in-flight entertainment system and the Aircell AxxessTM voice and data communication system. The cockpit is configured to demonstrate the full capability of the Pro Line 21™ avionics suite. The company intends to utilize the aircraft as a demonstration platform for customers until the final STC is issued later this quarter.

EBACE provides an ideal venue for us to introduce the 400XT to the European marketplace. By connecting face-to-face, pilots and operators can see firsthand the reliability, safety and technological advances of a remanufactured product," stated Jay Heublein, vice president of sales and marketing.

As a pioneer in the field of general aviation, Nextant is the first company to introduce the concept of remanufacturing to the business jet market. This unique process applies an environmentally-sound approach to aircraft manufacturing which allows the company to deliver an end product that exhibits significantly evolved technology, improved reliability, and a life expectancy that meets or exceeds other competitive products. The remanufacturing process involves a comprehensive protocol that takes over 6,000 man-hours to complete. The process begins with a thorough inspection of the airframe to ensure that it is free from corrosion and any detrimental wear and tear. In subsequent phases, all life-limited components are taken to zero-time status either by replacement or complete overhaul which effectively makes the 400XT a new plane in all material aspects. The 400XT cockpit is updated to include the Rockwell Collins Pro Line 21™ avionics system and the performance of the aircraft is significantly enhanced by the Williams FJ44-3AP engine. Several aerodynamic enhancements are made to the airframe including a new pylon and cowling design. The resulting aircraft has a range of 2005nm (4 passenger, NBAA IFR reserves) and a 35% improvement in fuel efficiency. All work is performed at Nextant's factory in Cleveland, Ohio. Remanufacturing differs significantly from other "modification" programs in that it creates a truly standardized product. The standardization leads to an inherently safer product in that it will allow flight crews to train to a common training curriculum. The 400XT is sold with a complete tip-to-tail warranty, two flight crew type ratings and Nextant has established a national service network to support the plane.

Nextant expects to certify the 400XT in the second quarter of 2011 and plans to deliver 11 aircraft this year with the first delivery slated to take place in July.