Press Release

Issued by Luxaviation Switzerland.

February 18, 2008

ExecuJet Aviation Group, one of the world's fastest growing aviation companies, has established its first business jet base in Asia, at Singapore's Seletar Airport.

The Swiss, Zurich-based organisation, has acquired a 2,800m2 aircraft hangar at Seletar, a former military airfield and provided hangar facilities and local maintenance support capability for five wide-bodied business jets.

These include an ultra long range Gulfstream V, under ExecuJet operational management, a long range Bombardier Challenger 604, two Gulfstream IV long range aircraft and a second Gulfstream V.

"Asia is the engine room for the world's economic growth and the use of private and corporate aircraft is increasing in line with the expansion of regional and international businesses," said Alastair Creighton-Jones, Managing Director of ExecuJet Australia, who is spearheading the Asian expansion.

"To meet this demand, ExecuJet will continue to develop and enhance new operational and support capabilities in the region," he said, adding:  "There is a shortage of hangar facilities in Singapore to accommodate the growing number of business aircraft operating within the region."

"By acquiring and refurbishing this hangar, formerly occupied by the Singapore Ministry of Defense, ExecuJet's Seletar facility has the capacity to house up to six wide-bodied business jets, with the capability to house the largest of the purpose built business jets, Bombardier's ultra-long range Global Express XRS," he said.

Seletar Airport is just 20km from Singapore City, has no operating curfew and has Customs facilities between 8.00am and 9.00pm daily. Plans are now progressing to convert the former military airport into an aviation business park and centre of excellence.

In addition, it has ample aircraft parking facilities and a 1,632 metre runway, capable of supporting the operation of business aircraft flying both regional and long range routes.

"The establishment of a base here in Singapore is the first step in what we plan will be significant expansion in Asia – a buoyant emerging market for business aviation," said ExecuJet Group Managing Director Gerrit Basson. He is leading ExecuJet Aviation Group's representation at the airshow this week.

ExecuJet is one of the world's fastest growing and most progressive aviation companies, now managing a global fleet of more than 100 business jets.

The company is located in key destinations within Europe, Africa, The Middle East and Australia, where it has been operating a Fixed Base Operation (FBO) and a growing fleet of corporate jets from Sydney International Airport since 2000.

Last year, ExecuJet also opened maintenance facilities in Melbourne, Australia and Auckland, New Zealand, in support of a growing client base of aircraft under maintenance and operational management.

"Establishing the Singapore hangar is both a natural progression and a necessity for us, and for the business aviation sector," said Mr. Creighton-Jones. "Furthermore, in support of our Sydney based regional Bombardier and Gulfstream warranty repair facility, ExecuJet will be opening a hangar facility with line maintenance capability in Brisbane, Australia, later in 2008."