Press Release

Issued by Baykar Piaggio Aerospace.

November 18, 2008

Piaggio Aero and Abu Dhabi Aircraft Technologies (ADAT)  agreed at MEBA 2008, the Middle East Business aviation,  to establish Piaggio Aero's first authorized regional maintenance facility within ADAT facilities at Abu Dhabi International Airport.

The centre will be operational by the end of 2008 and will provide P.180 Avanti II owners and operators with full service care for the aircraft. The facility is the first of its kind for Piaggio Aero in the region and is an important addition to the company's global service network and regional growth plans.

The facility will provide around-the-clock services to the P.180 Avanti II aircraft, including routine inspection, scheduled and unscheduled maintenance, airframe, power plant, avionics, and other systems repairs. It will also have an Aircraft-On-Ground rescue team, as well as an inventory of expendable and repairable parts.

Piero Ferrari, Chairman of Piaggio Aero commented: "Our partnership with ADAT is a major milestone in establishing Piaggio Aero's Middle Eastern presence, it reflects our commitment to growing our global service network and supporting our expanding customer base in a strong growth market for us."

John Byers, CEO of ADAT which is wholly owned by Mubadala Development Company commented: "ADAT provides full service MRO facilities to the region and is fast establishing Abu Dhabi as the region's main MRO hub. This partnership with Piaggio is a demonstration of our ability to service all types of aircraft and the flexibility we can offer to support specific customers in establishing their service networks in the Middle East."