Press Release

Issued by NasJet.

February 11, 2012

NasJet, the largest private jet company in the Midde East, has taken delivery of another managed aircraft, making the company the leading Gulfstream operator in the region. "This also uniquely positions NasJet as one of the top 20 operators in the world, with 75 aircraft under management", stated Sulaiman Al-Hamdan Group CEO.

The arrival of the new aircraft reflects the need for private jets in the Middle East is continuing to grow, despite the global economic turmoil. According to Honeywell Aerospace's annual Business Aviation Outlook, the Middle East/Africa is anticipated to show the strongest demand after Asia.

"Regionally, we have seen a year on year increase in activity levels, particularly in Saudi Arabia" says James Dailey COO of NasJet. "There is an even split between existing private jet users as well as new entrants, with steady demand coming from GCC corporations, actively chasing business deals around the globe".

"With the new G550 owner, it was clear he already had considerable aircraft experience and his requirements were extremely sophisticated" highlighted Yosef Hafiz, NasJet Director of Aircraft Management. "NasJet has managed and operated Gulfstreams in the Middle East since 1999 and has a reputation for applying stringent standards of safety/service, developed over many years working with international partners".