Press Release

Issued by NetJets Europe.

May 20, 2008

NetJets Europe, the largest operator of business jets in Europe, announced today, at the 2008 European Business Aviation Convention and Exhibition (EBACE), the promotion of Joachim (Joe) Bauer to Director of Flight Operations, NetJets Transportes Aéreos.  Joe is based at the operations centre in Lisbon and is responsible for flight operations activities including fleet/cabin crew management and technical flight operations.  Joe took up his role on 31 January 2008.

Joe's previous role was Citation Fleet Manager, which at the time was NetJets Europe's largest fleet.  At NetJets he also held the roles of Hawker and Citation Assistant Fleet Manager. Like all NetJets pilots, Joe joined the company as a First Officer. He initially flew on the Falcon 50/900 fleet and was very quickly upgraded to Captain.

Joe spent 20 years with the German Air Force, where he flew the Phantom F-4F.  He also spent three years touring New Mexico as a Fighter Weapons Instructor where he worked closely with the US Air Force. Joe has had a breadth of flight operations experience holding positions such as Operations Officer, Standards Pilot, Safety Officer and Instructor Pilot. With more than 4,000 hours of experience as a pilot in command Joe brings a wealth of knowledge and experience to his role as Director.

In his new role Joe will report to Chris Randle, Director of European Operations. He will work across all departments to sustain the highest levels of safety and regulatory compliance. As Director of Flight Operations, Joe will represent NetJets and ensure that best practices, regulations, policies and procedures are maintained and enhanced.

William Kelly, CEO of NetJets Transportes Aéreos said: "Joe is the ideal person to lead NetJets' Flight Operations team, he has the respect and confidence of all of our pilots and flight attendants and his long standing experience and expertise both at NetJets and the German Air Force puts him in fine stead to lead the team".

Joe Bauer, Director of Flight Operations added: "I am fortunate to be working with a great team of people who are all committed to ensuring that NetJets maintains its position as the leading business jet operator in Europe."