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AIR METHODS TO ACQUIRE GOLDEN EAGLE AVIATION

 DENVER, June 7 /PRNewswire/ -- Air Methods Corp. (AMEX: ARF.EC) today announced its execution of a letter of intent to acquire Golden Eagle Aviation Inc. of Denver. Golden Eagle is one of the largest providers of executive air charter service in the Rocky Mountain region. Air Methods intends to transition Golden Eagle's corporate charter services into the company's aeromedical operations as soon as practicable. Golden Eagle's fleet of three long distance jet aircraft and one turbo-prop airplane will immediately be made available to respond to the significantly increased market demand for Air Methods' airplane aeromedical services throughout the world. Air Methods currently operates a fleet of 26 medically-dedicated helicopters and four airplanes.
 Air Methods intends to acquire Golden Eagle Aviation via a tax free reorganization involving the issuance of approximately 125,000 shares of restricted common stock of Air Methods in exchange for all of the outstanding common stock of Golden Eagle. The transaction will be consummated following the execution of a definitive exchange agreement by the parties, possibly within the next 60 days. Following the closing, Golden Eagle will be merged into Air Methods, continuing its operations and complementing Air Methods' expanded airplane aeromedical presence.
 Founded in 1986 and located at Centennial Airport, Golden Eagle's annualized unaudited growth rate from 1986 to date has exceeded 45 percent, with revenues in 1993 (12 months annualized) expected to exceed $3 million. In addition, all current Golden Eagle officers have expressed their desire to continue in their operating capacities with Air Methods including J. Timothy Smith, chief operating officer of Golden Eagle.
 W. Terrance Schreier, chairman and chief executive officer, further explained, "Golden Eagle Aviation is an acknowledged quality provider of airplane transportation services from the Rocky Mountain region to destinations world-wide. As large numbers of hospitals increasingly consolidate their trauma and highly specialized care centers into centralized healthcare facilities throughout the 1990s, the demand for integrated intermediate and long distance aeromedical providers, employing jet aircraft and helicopters on an integrated basis will significantly increase. This strategic acquisition allows Air Methods to accelerate its growth in the growing hospital aeromedical marketplace."
 Air Methods is the largest exclusive provider of state-of-the-art emergency air medical transportation systems and services to hospitals throughout the United States. Air Methods now serves 43 hospitals in 12 states under 19 dedicated long-term operating agreements. The company utilizes only IFR-certified pilots and aircraft, including 26 helicopters and four airplanes, to perform these services. In addition, Air Methods offers completely integrated airborne medical systems for administering intensive care to patients while flying to a trauma center or a tertiary care facility, either from outlying hospitals or the scene of an accident.
 -0- 6/7/93
 /CONTACT: W. Terrance Schreier or William H. Crithfield of Air Methods, 303-790-0587/
 (ARF)


CO: Air Methods Corp.; Golden Eagle Aviation Inc. ST: Colorado IN: AIR HEA SU: TNM

BB -- DV003 -- 6196 06/07/93 16:28 EDT
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Publication:PR Newswire
Date:Jun 7, 1993
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