Press Release

Issued by .

July 1, 2009

Oxford Aviation Academy ("OAA") and Lufttransport AS ("Lufttransport") have signed a long term agreement to offer training on a newly acquired Beech King Air B200 full flight simulator at OAA's Oslo training centre in Norway. The simulator is being acquired by Lufttransport and will be the only Level D device in Europe available with a Proline-21 cockpit. The simulator is expected to be ready for training in February 2010.

Established in 1955, Tromso based Lufttransport is an airline specialising in evacuation and emergency medical services for the Norwegian government as well as conducting sea pilot and arctic operations. It operates a modern fleet of rotary and fixed wing aircraft and has the largest fleet of Beech King Air B200 aircraft with Proline-21 cockpits.

OAA's Oslo training centre is one of the best equipped and most modern training environments in Europe. Its prime location within short walking distance of Oslo International Airport's arrival terminal and high standard of facilities makes it an excellent venue for King Air B200 operators wishing to conduct their training in Europe. OAA, through their "Total Simulator Support" product, will be responsible for all engineering, maintenance, facility management, customer services and quality support for the simulator.

Stig Naesh, CEO of Lufttransport, commented: "The acquisition of our first full flight simulator is a major financial and strategic step for Lufttransport. Having a simulator located at Oslo airport with OAA providing a total operational support package will generate substantial savings in training costs for us and help further improve safety standards. The OAA "Total Simulator Support" solution was a key factor in our decision to acquire a simulator and we are very excited about partnering with one of the most reputable and established names in global aviation training."

Mike Humphreys, OAA Aviation Training - Type Division MD, commented: "We are delighted to have Lufttransport as a Total Simulator Support customer. Many niche aircraft operators do not have access to flight simulators in close proximity to their operations and although they can see substantial cost savings by acquiring their own simulators they are generally put off by the huge investments required on infrastructure and on-going support. Decades of flight simulator expertise and experience combined with a global network of training centres enables us to offer operators like Lufttransport a cost effective turnkey managed solution."

OAA is one of the leading independent aviation training and resourcing organisations in the world with over 500 employees in Oslo, Copenhagen, Stockholm, Hong Kong, London Gatwick and Heathrow, Melbourne, Tokyo, Manchester, Oxford, Beijing, Dublin, Shannon, Phoenix and Riga. It has over 400 airline customers worldwide and a portfolio of 42 full flight simulators. OAA is owned by STAR Capital Partners and General Electric Corporation.