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Aviation General, Incorporated Commences Trading On OTC Bulletin Board.

Business Editors

BETHANY, Okla.--(BUSINESS WIRE)--Sept. 24, 2002

Aviation General, Incorporated (OTCBB:AVGE) today announced that its stock began trading today on the Over-the-Counter Bulletin Board with the new ticker symbol AVGE.OB, after receiving notification from Nasdaq that the company did not meet certain listing requirements and that its stock would no longer be listed on the Nasdaq SmallCap market.

The company will not appeal this determination further, as it has been dealing with this issue for more than a year and is pleased to have this matter resolved.

The company believes that, based on its size and the increasingly burdensome Nasdaq listing requirements, the OTC Bulletin Board is a more appropriate market for its stock. The OTC Bulletin Board includes over 300 participating market makers and provides access to more than 3,500 securities, a number of which qualify for Nasdaq listing, but prefer the Bulletin Board.

The company's listing on the OTC Bulletin Board affords our shareholders and prospective investors similar advantages as to liquidity and availability of trading information, such as continued listing on major Internet databases. The company also plans to apply for listing on the new BBX exchange.

The company believes that the exchange on which its shares are traded does not affect the market value or intrinsic value of the company's business. The company expects its financial results for year 2002 to be significantly improved compared to 2001.

Aviation General, Incorporated is a publicly traded holding company with two wholly owned subsidiaries, Commander Aircraft Company and Strategic Jet Services, Inc. Commander Aircraft Company ( manufactures, markets and provides support services for its line of single engine, high performance Commander aircraft, and consulting, sales, brokerage acquisition, and refurbishment services for all types of piston aircraft.

Strategic Jet Services, Inc. ( provides consulting, sales, brokerage, acquisition, and refurbishment services for jet aircraft.

The statements in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties. Actual results, events and performance may differ materially.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Readers are encouraged to refer to the risk disclosures described in the Company's reports on Forms 10-K, 10-Q and 8-K, as applicable.
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Publication:Business Wire
Geographic Code:1USA
Date:Sep 24, 2002
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