ShAirForce Names K. Josef Laakso CFO; Former Fairchild Dornier And Mellon Aviation Finance Executive.

Business Editors & Aviation Writers

NEW YORK--(BUSINESS WIRE)--Aug. 22, 2002

ShAirForce, LLC announced today it has appointed K. Josef Laakso as Chief Financial Officer.

Laakso will be responsible for ShAirForce's entire financial structure, including relationships with financial institutions, aircraft acquisitions, tax and regulatory compliance, and client financing structure for ShAirForce's global shared aircraft sales and marketing program.

Most recently, Laakso was Vice President of Global Sales Finance for Fairchild Dornier Corporation, where he primarily managed the airline manufacturer's regional jet financing and leasing program. Prior to Fairchild Dornier, he was Vice President/Manger of Aviation Financing for Mellon Financial Corporation. Previously, he managed leasing programs at First Union National Bank.

"We're very fortunate to have a skilled aviation finance professional like Josef Laakso join the ShAirForce team," said ShAirForce, LLC. President Art Brown. "In addition to his relationships with major financial institutions worldwide, he brings expertise in complex aircraft sales and leasing arrangements, and the skills to structure the entire ShAirForce finance department."

Laakso is a graduate of International Business from American College of Switzerland, and received an MS in International Business from St. Mary's College of California.

ShAirForce is an innovative patents-pending shared aircraft ownership program, a unique revolutionary hybrid of business and commercial aviation, created by ShAirForce, LLC. ShAirForce enables employees and guests of multiple corporations to fly together on new secure large-cabin Boeing Business Jets while paying up to 98% less than fractional ownership or private charter programs on a passenger flight hour cost basis, and at a total cost less than flying with commercial airlines.

Additional information is available at www.ShAirForce.com or by calling (866) Go-ShAir, (467-4247).

Usage of any ShAirForceOne aircraft depends on the ownership share, and corresponding passenger flight hour entitlement a company purchases. For example, a company that purchases a 1/48 ownership share of one aircraft is entitled to 1,000 passenger hours per year.

Any ShAirForceOne owners' executives, employees or guests may use these hours, always at the same low fixed price per passenger flight hour, on any ShAirForceOne aircraft operating between any ShAirForce city pair. Owners and their guests may travel one at a time, or with up to 36 passengers, always for the same low fixed cost per passenger flight hour. All passengers must be pre-approved for security reasons.

In January of this year, ShAirForce became the first company in the world to offer its clients luxurious premium-class-only aircraft with daily nonstop service between 250 of the most frequently flown domestic and 53 international city pairs. It will operate a fleet of new Boeing Business Jets (BBJ2 737-800's) outfitted for a maximum of 36 passengers, and includes private meeting areas, internet connectivity and telephones at every seat, fax machines, digital satellite TVs at every seat, and a concierge service.

About ShAirForce:

ShAirForce, an innovative privately held company, provides Global 2000 clients shared ownership and shared use of ShAirForceOne aircraft, the ultimate private jets in the world, new custom-outfitted 737-800 Boeing Business Jets (BBJ2's). ShAirForce is a unique hybrid of business and commercial aviation. The revolutionary patents pending ShAirForceOne program, first in the world to offer exclusive premium-class-only aircraft for regular daily domestic and international service, enables companies to fly their employees nonstop daily between the most flown 250 domestic city pairs and 53 international City Pairs with the most extreme levels of safety, security, comfort, in-flight productivity, time-savings before flight in and out of private terminals, at costs up to 98% less than fractional ownership programs, and at a total cost less than flying with commercial airlines. ShAirForce is in negotiations with Boeing Business Jets to acquire its fleet of 737-800 BBJ2 aircraft with CFM International (a joint venture of General Electric and Snecma) engines.

The foregoing are forward-looking statements which are based on management's beliefs as well as on a number of assumptions concerning future events made by and information currently available to management. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside ShAirForce control, that could cause actual results to differ materially from such statements. ShAirForce disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented to provide additional information to further understand ShAirForce travel opportunities.