Press Release

Issued by ExecuJet.

November 14, 2011

A consortium of ExecuJet and National Air Services (NAS Holding) represented by its private aviation arm NasJet, announced their strategic partnership today at Dubai Air Show.

The joint venture will be operating the new FBO at King Khalid International Airport (KKIA) in Riyadh. In order to develop the FBO and conduct its operations according to the highest quality of service standards an initial required space of 1,500 sqm within the new KKIA Private Aviation terminal will be occupied by the new FBO.

"Given all Consortium members are market leaders in their respective fields, there will be no learning curve due to the depth and breadth of each member's previous operating experience in KSA, the GCC and globally." Mr. Ayedh Al-Jeaid - Chairman of NAS Holding said. "These experiences shall help the joint venture to achieve world class standards by focusing on customer service, quality and safety. This focus on customer service will enable the FBO at KKIA to offer a seamless customer experience by reducing complexity and time spent by clients."

ExecuJet brings world-class expertise in managing currently 14 FBOs globally across 5 continents and a global fleet of 154 private aviation aircraft. Mike Berry, Managing Director of ExecuJet Middle East explains "by forming a joint venture with NAS Holding we have won a partner with a deep understanding of the Saudi private aviation landscape and a large captive client base given its position as the leader in Saudi private aviation." NasJet - part of the NAS Holding, has a fleet of 18 private aircraft and 60 aircraft under management.

Sulaiman Al-Hmdan - CEO of NAS Holding stated that the joint venture between NAS and ExecuJet will seek to enhance customer's perceived value of services provided through Multi-channel communication strategy (e.g. online booking, web presence, social media, Apple Apps, third-party directories). In addition to the FBO airside services, clients will benefit from a comprehensive suite of services such as landside, regulatory filing and concierge services, all under one roof. He added, through the NASTECH-Lufthansa Technik partnership, ExecuJet and NAS will be able to offer its FBO clients line MRO services on most private aviation aircraft types and models. Al-Hamdan concluded, FBO clients will also have access to aircraft management services upon request, provided by NAS Holding's current OSPM aircraft management Services.