Press Release

Issued by ExecuJet MRO Services Australia.

March 6, 2012

ExecuJet Australasia announced that their Australian operation based at Sydney Airport has recently been approved by the Bermuda DCA as a Continuing Airworthiness Management Organisation (CAMO).

ExecuJet Australia is already a Bermuda DCA Approved Maintenance Organisation and having the CAMO adds to the range of services offering to its clients. ExecuJet Australia also has the capability to draft BDCA compliant Aircraft Maintenance Programs and Minimum Equipment Lists for customer aircraft.

ExecuJet Australia is presently managing one Bermudan registered aircraft based in Singapore which joined the fleet in December 2011. More aircraft are expected to follow.

ExecuJet Australasia currently has 7 fully managed & operated aircraft and 12 aircraft under maintenance control management which are based in Australia (Sydney, Melbourne and Perth), Singapore and New Zealand (Wellington). In December last year the company has announced the opening of two new Fixed Base Operations (FBOs) in Australasia. The Wellington FBO, ExecuJet Aviation Group's first facility in New Zealand opened on November 16, 2011 followed by a new FBO in Melbourne, Australia on November 18, complementing the Group's established Melbourne MRO facility.

Further developments for the coming months include the IS-BAO approval which is expected to be granted in April this year. The company is currently undergoing the necessary auditing process.

IS-BAO - an International Standard for Business Aircraft Operations is accepted globally as an appropriate benchmark for safety and efficiency in business aircraft operations. Business aircraft operators worldwide have recognized the need for a standard for their industry, and IS-BAO is the most appropriate comprehensive standard available for business aircraft operations today.