Press Release

Issued by Axis Flight Training Systems.

May 16, 2013

Axis Flight Training Systems announced today that Peter G. Edwards and Niall G. Olver have joined the Axis group as investors and operational partners, through the formation of Axis Simulation Holdings GmbH of Zug, Switzerland.

Edwards and Olver will work closely with Axis ceo Martin Rossmann and will provide expertise in business operations, marketing strategy, and business development. A new leasing company is also being formed under the Axis Simulation Holdings umbrella to address a high level of customer demand for support of simulator transactions.

Peter G. Edwards is chief executive officer of Cambridge Aero Systems, an aviation contractor specializing in the design, development and execution of executive and vip aircraft completion programs. Previously Peter was ceo/president of the Jet Aviation Group, and president of Bombardier Business Aircraft and has held senior positions at Gulfstream and AiResearch.

Niall Olver is the founding chief executive officer of ExecuJet Group, a multinational organization which offers a complete range of business aviation solutions. Niall also holds various directorships and shareholdings including that of investment and asset management advisory EJ Capital, Grob Aerospace, and others and is a former director of Piper Aircraft.

Peter Edwards stated, “I am extremely excited to be associated with Axis Flight Training Systems and its talented team of engineers. The new generation of technology-driven, highly reliable Axis full motion devices provides a compelling choice for business and commercial training providers worldwide.”

Niall Olver added, “We firmly believe that as we continue to build on the great foundation, this business can grow to become a true force in the simulation business in a relatively short period of time.”

It is the first time in Axis' history that they will be presented at different shows in the Middle East region. Axis is in discussions with several Middle East airlines regarding their simulators. The Middle East carriers appreciate the Axis technology and quality edge that is offered in the new generation devices. Martin Rossmann says, "We expect that this will become an important market for Axis and we are looking forward to being present in the Middle East."

Axis Flight Training Systems was founded in 2004 and engages in the design and manufacturing of state of the art full motion level D simulators and associated hardware for the business and commercial aviation markets. Axis was the recipient of the 2012 Fast Forward award for product innovation in Austria.