NEWS

Executive Air Under New Ownership



PRESS RELEASE Brockway Moran & Partners, Inc. and Meridian Venture Partners Announce the Sale of Executive Air Taxi Corporation

Dallas, TX – May 31, 2007: Brockway Moran & Partners, Inc. and Meridian Venture Partners today announced that they have completed the sale of Executive Air Taxi Corporation to Mr. Kelly Cermak, Executive Air’s CFO, Mr. Paul Vetter, Executive Air’s General Manager, and local businessman Mr. John G. Miller. Together, the new ownership brings more than 60 years of experience with general aviation, management and leadership to Executive Air.

“I have the highest respect for Executive Air’s new owners and we wish them a very successful and rewarding future. The company is in great hands with professionals that are extremely knowledgeable and experienced with respect to the general aviation industry. Our future plans include utilization of Executive Air as a service provider,” said Fred Buttrell, President & CEO of Med-Trans Corporation. Med-Trans Corporation, headquartered in Dallas, Texas, is a leading provider of air ambulance programs in selected locations throughout the United States focused on establishing partnerships with leading hospital systems, medical centers and EMS agencies. Med-Trans currently operates a fleet of 21 Bell helicopters through 17 programs across nine states.

Kelly Cermak, who has been with Executive Air for 23 years said of the ownership change, “We are extremely excited about having ownership in Executive Air Taxi Corp. remain at a local level. The beauty of the transaction was obtaining the most valuable asset, the retention of the professional and dedicated staff. They possess years of experience, one of whom has been with the company for over 30 years. We will continue to offer services as in the past with an aggressive plan to expand those services, in addition to adding new services.”

In his new role as Chief Operating Officer and co-owner, Paul Vetter stated that, “I am excited and confident about the future and having ownership in the company I am passionate about is a dream come true. Success is built upon and around relationships. Our success would not be possible without our dedicated staff, our loyal customers, the support of the team from the FAA, as well as airport and city leaders working jointly with us in order to achieve our goals. Executive Air is the region’s premier aviation center and is the leader in the aviation community with an impeccable safety record, I look forward to providing for the needs of our clients and staff in order to keep it that way. “ Executive Air Taxi is a full-service, fixed base operator (FBO) located at the Bismarck, North Dakota Municipal Airport. Executive Air’s services include aircraft charter, maintenance, rental, and management, parts sales, flight instruction, airfreight, and fuel sales. Executive Air is the only authorized Bell, Cessna, Cirrus and Beechcraft Service Center in the Upper Midwest.