Precision Conversions, LLC Signs Contract with Corporacion Ygnus Air, S.A. for 757-200PCF Conversions.

PORTLAND, Ore. -- Precision Conversions, LLC (Precision) is pleased to announce that the company has signed an agreement with Corporacion Ygnus Air, S.A. (Cygnus Air - Spain) for a 757-200PCF freighter conversion. Additionally, the contract calls for one option. The Rolls-Royce powered 757-200 (MSN 26239, manufactured in 1993), which is currently being operated in a passenger configuration by Audeli, a member company of Grupo Gestair, for Iberia Airlines, will be pulled from active passenger service and enter conversion in the beginning of July, 2006.

Steven Thomas, Precision Conversions' President stated, "We are proud to have Cygnus as our newest customer and be a part of their successful growth." He went on to say that, "This award demonstrates the continued momentum of the Precision Conversions' 757-200PCF conversion program and over time we feel the aircraft will be a perfect replacement for the Cygnus Air DC-8's due to the 15 full pallet positions and a 30 metric tonne NET payload."

Cygnus Air currently provides scheduled cargo services to Iberia Airlines with three DC-8 aircraft.

Since receiving STC approval in June of 2005, Precision Conversions has delivered four 757-200PCF freighters to various global customers. The fifth conversion, currently in work, is scheduled to be delivered mid-May 2006. In addition to this award, Precision Conversions recently announced it has received contracts for three more 757-200PCF conversions for Cargo Aircraft Management, Inc. and Ethiopian Airlines.

About Precision Conversions, LLC

Precision Conversions, LLC (www.precisionconversions.com) develops, engineers, integrates, certifies, and markets aircraft modifications that improve the performance, utility and flight efficiencies of air transport aircraft. The company maintains its executive offices in Portland, Oregon with additional offices in California and North Carolina.