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Fri, Apr 22, 2005

Groen Brothers Grants Six Month Funding Window To Chinese Investment Group

Groen Brothers Aviation, Inc. has announced that in exchange for a minimum equity investment of $1 million, GBA has granted a Chinese investment group a six-month period in which to bring to the Company a funding/partnering package sufficient to fund the completion of the Hawk 4 Gyroplane program up through FAA Certification and production. In addition, during this same period, the Agreement grants this investment group the right to bring a funding/partnering package for the development of larger commercial GBA GyroLiner gyrodynes of Groen Brothers Aviation’s design.

As a result of this agreement, Jay Groen, Chairman of GBA, and Robin Wilson, Executive VP & Head of Business Development, traveled to China in March to meet with government officials and aerospace executives. These high level meetings were arranged by this investment group, executives of which accompanied GBA during the twelve-day visit. In these meetings, GBA made presentations covering the application of GBA’s gyroplane and gyrodyne technologies to China’s commercial needs. The presentations were well received and resulted in GBA being invited back to China to discuss specific proposals for joint ventures or cooperation.

"There can be a very large market for our products in China, from the SparrowHawk size gyroplanes, to the Hawk 4 Gyroplane and its variants, to the varying sizes of tip-jet powered gyrodynes in commuter airline and transport category aircraft," said David Groen, President & CEO. "With China’s burgeoning economy requiring rapid development of its transportation infrastructure, these types of safe, economical, high performance Ultra-Short and Vertical Takeoff and Landing (USTOL & VTOL) aircraft can be very important in helping to solve their transportation needs. We are pleased at this progress."

Groen Brothers Aviation, Inc. has developed what is reportedly the first commercially viable modern gyroplane, the "Hawk 4." The gyroplane is a hybrid aircraft with the low operating cost of an airplane and the off-runway operating capability of a helicopter. Through its wholly-owned subsidiary, Groen Brothers Aviation USA, Inc., the Company has also developed and is currently selling a smaller kit gyroplane, the "SparrowHawk," to meet the growing demands of the home-built gyroplane kit market, and to provide a safe, economical airborne patrol vehicle for law enforcement and other government applications. The Company continues to develop a nationwide dealership network for the sale of these products.



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