Company Says This Ought to Do It

Adam Aircraft Industries, Inc. announced the successful closing of a significant investment by GS Capital Partners 2000, L.P., a private equity investment fund managed by Goldman, Sachs & Co. The investment from GS Capital Partners will be utilized to fund the company through the FAA certification of its A500 and A700 models and to begin aircraft production.

Rick Adam, Chairman and CEO, Adam Aircraft Industries, Inc., said "Having Goldman Sachs invest in our company is a tremendous benefit. In addition to access to capital, we will benefit from Goldman's knowledge of the aviation industry and their overall business expertise. We believe this investment validates the market potential of our two products. The A500 twin-piston aircraft is a superior product in its price range, and the A700 light jet will be a breakthrough product and a key building block for future air taxi and fractional aircraft markets."

Sanjeev Mehra, a Managing Director at Goldman Sachs and a Board Member of Adam Aircraft, said "We have been very interested in general aviation since our investment in NetJets. We believe that Adam Aircraft has a tremendous opportunity to participate in the growth of the aviation market, and we are extremely excited about this investment."

FMI: www.adamaircraft.com