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Fri, Oct 10, 2003

Jet Partners UltraJet Division Orders 100 Avocet ProJets

Private Jet Transportation Transformation Predicted by UltraJet CEO

UltraJet, LLC, announced that it has entered into an agreement with Avocet Aircraft LLC to purchase 100 Avocet ProJet airplanes. Deliveries are scheduled to begin in late 2006.

The Avocet ProJet is a new 6 to 8-place, twin-engine turbojet that is being created specifically for the air taxi and charter business. “This airplane is a perfect complement to our longterm business goals,” stated John DePalma, Chairman and founder of UltraJet. “It is the one airplane that is being purposebuild for the demands of operators like UltraJet. We were specifically impressed with the flexibility of the cabin configurations and the operator-friendly progressive maintenance program that’s been designed right into the plane.”

“We are, of course, delighted to have UltraJet as one of our first fleet customers,” noted Avocet’s CEO, David M. Tait OBE. “UltraJet is precisely the type of operation we envisioned in the early development of the ProJet. They have built their business by consistently exceeding the high expectations of their customers. For UltraJet to have selected the ProJet is truly a gratifying endorsement.”

UltraJet is a premier provider of membership-based air charter transportation specializing in operating today's most sophisticated private jet aircraft. UltraJet is recognized for the variety of custom programs that delivers ultimate flexibility to their customers. Their clientele include Fortune 500 executives, professional athletes, entertainers, musicians, US Government officials and a former President of the United States.

UltraJet currently employs a domestic fleet of G200s, Citation III, V and VII and Lear 31, 35, 45 and 55 jets operated by Avbase Flight Services. Their global fleet access includes a wide range of aircraft, from a King Air to the Boeing BBJ. DePalma adds: “The way people travel is going to change in the coming years. Small, safe, efficient jet travel is clearly the next step in transportation — and is the antidote to today’s airline woes.” Citing the deterioration of the hub-and-spoke system, DePalma notes: “Private jets will no longer be the realm of just the wealthy. They will soon be a very real and economic alternative to anyone for whom time is critical.”

Jet Partners, LLC, headquartered in Cleveland, Ohio, is the parent company of Avbase Aviation and Avbase Flight Services, growing corporate aircraft management and Part 135 charter companies offering services to a client base throughout the United States. Avbase was the first domestic operator to place the Gulfstream 200 into charter service and to offer worldwide transportation with this aircraft type. The company offers its UltraJet membership and on-demand charter programs as well as an affiliate charter program for Mercury Air Centers.

Avocet Aircraft LLC, a Westport, CT-based company, was founded by a group of aerospace industry investment bankers and a team of leading aviation industry executives to develop the Avocet ProJet with Israel Aircraft Industries. Avocet's first deliveries are expected to begin in early 2007.

The Avocet ProJet will be certified by Israel Aircraft Industries LTD (IAI), makers of the G100, G200 and, soon, the G150. IAI is globally recognized as a leader in commercial and military aerospace. For fifty years IAI has been successfully designing engineering, manufacturing and certifying aircraft for customers throughout the world. IAI designed, certified and currently manufactures a family of super-mid-size business jets for Gulfstream Aerospace, including the G100 and G200, and is currently developing the G150 with Gulfstream. IAI also has broad-based capabilities in the design, manufacturing, modification and upgrading of fighter aircraft, helicopters, unmanned air vehicles and electronic and communication systems.

FMI: www.ultrajet.net, www.avocetaircraft.com, www.avocetprojet.com, www.iai.co.il

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