Press Release

Issued by Cambridge City Airport.

October 29, 2012

The Business Aviation arm of the Marshall Aerospace Group is expanding its breadth of expertise with the creation of a dedicated Aircraft Sales and Brokerage business. Based at its Cambridge Airport, UK headquarters, the new business will focus initially on acquiring and selling pre-owned business jets and turboprops. Experienced senior business aviation sales executive, Howard Povey will head the new operation and he joins the company's management team as Sales Director on November 5th. He will be based at Cambridge Airport and will report to Managing Director of Marshall Business Aviation (MBA) and Marshall Executive Aviation (MEA), Steve Jones.

Howard brings over 25 years' of professional aviation experience with particular expertise in aircraft sales, customer support and business development gleaned at Hawker Beechcraft, Raytheon Aircraft Company and BAE Systems. Most recently, Howard served as Regional Sales Director for Northern Europe at Hawker Beechcraft where, since 2007, he was responsible for the sale of new and pre-owned King Air aircraft. Prior to that, Howard worked within the pre-owned aircraft sales organisation at Raytheon Aircraft Company, with responsibility for Hawker aircraft sales. Here he developed a portfolio of brokered aircraft within Europe, Middle East and Africa. Before heading into aircraft sales, Howard worked with Raytheon's Hawker Aircraft MRO business in Chester.

Managing Director, Steve Jones commented: "I am excited about the formation of the new Aircraft Sales Brokerage business and delighted to welcome Howard to head the operation. With his valuable and extensive experience, he will be a great asset to Marshall Aerospace. The establishment of the new sales and brokerage arm signals a strategic intent by Marshall Aerospace to expand and develop its business aviation portfolio and supports its customers who increasingly appreciate the value of the broad range of services we can provide.

The business is already marketing its first aircraft for sale on behalf of a UK owner, a 2008 King Air C90GTi.

"I am delighted to be taking up the role of Sales Director on behalf of such a highly regarded organisation as Marshalls. This is a terrific opportunity and a particularly attractive one as the company is undergoing an exciting new phase of development. I look forward to utilising my skills and industry knowledge to drive the business forward," commented Howard Povey.

The announcement of the new business arm comes as Steve Jones assumes responsibility for all business aviation-related activities at Marshall Aerospace, including the overall responsibility for the development of business aviation strategy, the management of business aviation, hangars and ramp facilities and the FBO (fixed base operations) which is currently franchised operationally to ExecuJet.