Press Release

Issued by Luxaviation Switzerland.

May 19, 2008

ExecuJet Europe's managed aircraft fleet has grown over the past six months to over 55 aircraft, with new arrivals being based at Copenhagen Roskilde, Berlin Schönefeld in Germany and at ExecuJet's latest base at London City Airport – where a Falcon 900 has just been registered under its new UK AOC.

ExecuJet in South Africa, the Middle East and Australia are all mirroring such growth with additional and new business aircraft types joining the family to take the total number of managed aircraft worldwide to over 110.

Last month ExecuJet Europe introduced a Danish-registered Citation X and two Learjet 40 XRS. All three will be available for charter in Denmark by 1 June. In addition, the company is working on the registration process of a Challenger 605 and Challenger 850, ready to support this summer's anticipated busy charter season.

At Berlin Schönefeld Airport, where ExecuJet is busy expanding its FBO facility with a new VIP passenger lounge and enhanced facilities ready for completion in October, its 24-strong employees will be looking after up to eight managed aircraft this year.

In Zurich, ExecuJet welcomed a Falcon 900 EX Easy and a Global XRS to their fleet at the beginning of this year with both aircraft available for charter in time for the European hectic summer's charter schedule. An additional Global Express XRS is planned to be registered under ExecuJet's expanding Swiss AOC by July and during the course of this year a further Challenger 605 is expected to join the fleet.

"Our managed aircraft business in Europe continues to go from strength to strength," said Gerrit Basson, Group Managing Director of ExecuJet, "and we have a great number of enquiries now to further bolster the managed fleet by year end. We are especially delighted with our move into London City, which will be an important strategic market for us. Furthermore, we are starting to get serious interest in our newly launched SimplyFly program and expect to secure our first European customer within the coming weeks."