Press Release

Issued by Gama Aviation.

November 15, 2011

Gama Group MENA FZE, part of the Gama Group, the global business aviation services company, announced today during the Dubai Air Show that it is to expand its services into the Kingdom of Saudi Arabia. With Imitiaz Company for Aviation Services LLC as a strategic partner in Saudi Arabia, the new joint venture company, to be known as Gama Aviation, plans to be operational in 2012 from Jeddah, Saudi's second largest city and a vital centre for commerce and tourism.

The Imitiaz Company, headquartered in Jeddah, Saudi Arabia is headed by some of the Kingdom's most experienced aviation professionals.

This is an expansion in the Middle East for the Gama Group, a long established aircraft charter, management and maintenance business company now in its 29th year, which set up in Sharjah and Dubai three years ago. The company will specialise in aircraft management and aims to operate charter services under its own Saudi GACA Part 135 Air Carrier certificate. The next step will be to add aircraft maintenance and consultancy services, replicating the company's expertise in Europe, USA and the Middle East. Gama's first base will be at Jeddah's King Abdulaziz International Airport where it will employ around five people in the start up phase. Gama Aviation in Saudi Arabia will be overseen by Gama's Regional Managing Director, Dave Edwards.

"This is a significant announcement for Gama and is the culmination of a substantial period of planning and negotiation," said Gama CEO Marwan Abdel Khalek. "We are delighted to have Imitiaz LLC as our strategic partner in this venture, which will bring to Gama many years of experience in the Kingdom. Breaking into the important Saudi market, the biggest market for business aviation in the Middle East, is a huge achievement and a long held wish of Gama. This milestone reflects a considerable amount of hard work by the team at Gama and our ability to demonstrate how the Gama culture and business model could be adopted in Saudi."

Gama Aviation obtained its UAE GCAA Air Operator's Certificate in February 2010 and now supports 25 staff and five managed aircraft at both Sharjah International and Dubai International Airports, including an Airbus ACJ318 which joined the fleet last month. Gama is on track to obtain its UAE GCAA CAR 145 maintenance approval and is working to develop a new 12,000 sqm hangar facility at Sharjah which will provide hangarage and maintenance facilities for business jet aircraft in the region. It will also be home to a new Fixed Based Operation.