Press Release

Issued by Metrojet.

October 30, 2012

Hong Kong’s Metrojet Ltd. and India- based Taj Air, a part of Tata Group, today signed a joint venture agreement to establish Taj Air Metrojet Aviation, offering aircraft maintenance and management services to the growing Indian business aviation market. India, together with China, ranks amongst the world’s fastest growing markets in business aviation. The joint venture strategically positions Metrojet and Taj Air to deliver world-class maintenance and aviation management services to the India market. The agreement will see operations commence in Mumbai, with the current Taj Air facility undergoing a substantial upgrade, whilst a larger, more comprehensive, facility is planned to be built at a later date. “Today’s agreement marks another milestone for Metrojet in our journey to excellence in the Asia markets,” said Björn Näf, Chief Executive Officer of Metrojet. “Our partnership with Taj Air expands our operational footprint into India with an aim of delivering business aviation service standards of the highest international levels.” Mr. Mehernosh Kapadia, Chairman of Taj Air said: “Taj Air is delighted to partner with Metrojet. Our respective aviation experience will enable us to expand our capabilities as we continue to build a best-in-class aviation company in India.”