PacifiCorp Partners Trust, Ltd., Enters Into Investment Agreement With Utilicraft Aerospace Industries, Inc.

LAWRENCEVILLE, Ga. -- Utilicraft Aerospace Industries, Inc. (Utilicraft), announces that upon shareholder approval it will merge with American Utilicraft Corporation (OTC: AMUC.PK); Utilicraft will be the surviving entity, and AMUC's shares will be exchanged for Utilicraft shares on a one-for-one basis. As part of the recapitalization and pursuant to agreements Utilicraft reached with its President John J. Dupont, Vice President Darby Boland and its customers, it has executed an investment agreement with PacifiCorp Partners Trust, Ltd., (PacifiCorp), a U.K. Business Trust; with certain limitations and conditions, PacifiCorp will provide a minimum of $40 million and up to $80 million in financing to facilitate the continued development of the Company's FF-1080-300 Freight Feeder aircraft program.

Utilicraft, has committed 60 million shares of the Company's common stock and Dupont and Boland have committed an additional 20 million shares to the PacifiCorp financing initiative, with "take down" prices ranging from $.50 to $1.00 per share, based on market pricing. Dupont and Boland also have the rights to future payments from the Trust based on stock price performance. PacifiCorp's investment will be realized over a two year time frame which will accommodate the upcoming FAA Certification and production of the FF-1080-300 aircraft.

Dupont and Boland, who were the controlling shareholders of Utilicraft, contributed part of their ownership in the Company as a condition to PacifiCorp's investment; they retained 20 million shares and will exercise voting control over the PacifiCorp shares for so long as the investment agreement remains in effect. Furthermore, Dupont and Boland will honor their Employment Agreements with Utilicraft and continue to serve the Company in executive or other capacities. Utilicraft's current customers are in agreement with the ownership control change to PacifiCorp.

Mr. Dupont will, however, retain his control of the FF-1080 patents and intellectual property as per his current employment agreement with Utilicraft.

As part of the investment arrangement, Utilicraft plans to merge with American Utilicraft Corporation on a share for share basis with the current AMUC shareholders.

Recently, Utilicraft executed a Ground Lease with the City of Albuquerque for a 40 acre site on Double eagle II Airport, in Albuquerque, New Mexico, where the Company intends to begin construction of an 80,000 sq. ft Final Assembly Facility later this year.

The Company has also executed a Hangar Lease with the City of Albuquerque, as an interim hangar facility on DE-II Airport that the Company will occupy, once it is completed in approximately 45 days.

About Utilicraft Aerospace Industries, Inc.

Utilicraft Aerospace Industries, Inc. was formed to target the significant problem of addressing the overnight express, supply chain, e-commerce, and global third party logistics entities' inability to provide effective "containerized" fulfillment and distribution in the short haul (or feeder) route segments of air cargo. The Company's new air vehicle, the FF-1080 Freight Feeder aircraft, is capable of carrying standard industry air cargo containers on short-to-medium range/medium density routes, combined with an integrated air cargo information system for the freight feeder market. For more information visit the Company's website at www.utilicraft.com.

Safe Harbor Statement

This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release involve risks and uncertainties and reflect the company's current views with respect to possible future events. Readers are cautioned that no forward-looking statement can be guaranteed and actual results or events may materially differ from those projected or anticipated. In particular, the following factors, among others, could cause actual results or events to differ materially from those described in the forward-looking statements: the company's ability to obtain and fulfill contracts for the sale of products, protect intellectual property rights and manage future growth; market acceptance of future products; product supplier delays; design and engineering certification delays or denials; and the introduction of similar products by competitors. Any forward-looking statement made in this press release is made as of the date of this press release, and the company assumes no obligation to update any such forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect the company's business.