The Fairchild Corporation -- NYSE: FA -- Announces Spin-off and Share Exchange With Successful B2B Company.

Business/Aerospace Editors

DULLES, Va.--(BUSINESS WIRE)--March 27, 2000

The Fairchild Corporation (NYSE:FA) announced today that it will spin-off to its stockholders the shares of Fairchild (Bermuda) Ltd., then exchange approximately 95% of Fairchild (Bermuda) for 100% of Global Sources Ltd., an Asian based, B2B online and traditional marketplace services provider. Immediately preceding the share exchange, Fairchild (Bermuda) will sell to a third party, the Optical Disc Equipment Group formerly owned by The Fairchild Corporation. After the share exchange, the stockholders of The Fairchild Corporation will own 1,183,081 shares of the 26,152,308 issued shares of Global Sources. The Global Sources shares will be listed on the NASDAQ under the symbol GSOL.

Global Sources Ltd, through its subsidiary Trade Media Holdings Ltd., has been providing B2B information services in Asia for almost thirty years under the trade name Asian Sources, and more recently, Global Sources. Its Web site, Global Sources Online (www.globalsources.com), is a leading electronic marketplace of online advertising and e-commerce services that supports export suppliers and global buyers in eight vertical trading communities. Presently, Global Sources reports over 170,000 registered users, who are able to locate and source products from suppliers in more than 90 countries.

In the nine months ending September 30, 1999, Global Sources reported revenue of $66.9 million, of which $17.7 million was derived from online transactions and services, and had net after tax income of $9.6 million. The company employs 500 people and maintains representative offices in 13 countries, including more than 30 locations in China.

The Fairchild Corporation has filed with the Securities and Exchange Commission, a Form F-1 to register the 1,183,081 shares of Fairchild (Bermuda) Ltd. to be distributed to Fairchild stockholders. The Fairchild Corporation expects that the Securities and Exchange Commission will shortly declare this filing effective. The shares of Fairchild (Bermuda) Ltd. will be distributed on April 13, 2000 to Fairchild's stockholders of record as of April 3, 2000. Trading of Global Sources Ltd. shares will commence on the NASDAQ beginning April 14, 2000.

The Fairchild Corporation is the leading worldwide manufacturer and supplier of precision fastening systems used in the construction and maintenance of commercial and military aircraft, and a distributor of aerospace parts. Fairchild Fasteners has manufacturing facilities as well as sales/design customer teams in the United States, Germany, France, Portugal, Hungary, Australia and the United Kingdom. Banner Aerospace, the company's aerospace distribution division, provides aircraft parts and services. Additional information is available on The Fairchild Corporation Web site (www.fairchildcorp.com).

This news release contains forward-looking statements within the meaning of Section 27-A of the Securities Act of 1933, as amended and Section 21-E of the Securities Exchange Act of 1934, as amended. The Company's actual results could differ materially from those set forth in the forward-looking statements as a result of the risks associated with the Company's business, changes in general economic conditions, and changes in the assumptions used in making such forward-looking statements.