Signature Flight Support Corporation to Amend Tender Offer and Consent Solicitation for 11% Senior Notes Due 2005 of Aircraft Service International Group, Inc

Business Wire, June 22, 2001

Business Editors

ORLANDO, Fla.--(BUSINESS WIRE)--June 22, 2001

Signature Flight Support Corporation ("Signature") today announced that it will be amending its tender offer and consent solicitation for the 11% Senior Notes due 2005 (the "Securities") of Aircraft Service International Group, Inc. ("ASIG").

Under the terms of the amended offer, Signature will offer to purchase the outstanding Securities at a revised purchase price equal to 104% of the principal amount thereof, plus accrued and unpaid interest to but excluding such date of payment. The amended offer will expire at 10:00 a.m., New York City time, on July 10, 2001, unless extended.

Signature is making the offer in connection with its pending acquisition of Ranger Aerospace Corporation (the "Merger"), the parent company of ASIG ("Ranger"). Following completion of the Merger, ASIG will become a wholly owned indirect subsidiary of Signature.

The offer is conditioned upon 100% in principal amount of the Securities being properly tendered and not withdrawn in the offer and consent solicitation and is also subject to the satisfaction of certain other additional conditions, including among other things, conditions related to the Merger, one of which is the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"). On June 22, 2001, the Department of Justice orally informed Signature that the United States District Court for the District of Columbia has entered a Consent Decree and Hold Separate Stipulation and Order which will allow the Merger to proceed under the HSR Act.

Signature expects to mail to holders of the Securities on or about Monday, June 25, 2001, a supplement to Signature's Offer to Purchase and Consent Solicitation Statement, dated January 4, 2001, as amended by Supplement No. 1 thereto dated May 25, 2001, containing additional information and setting forth the amendments to the terms of the tender offer.

As of 10:00 a.m., New York City time, on June 22, 2001, $46.95 million in aggregate principal amount, or approximately 58.7%, of the outstanding Securities had been validly tendered and not withdrawn pursuant to the offer and consent solicitation.

Morgan Stanley Dean Witter acts as Dealer Manager for the offer. The Information Agent is MacKenzie Partners, Inc., and the Depositary is State Street Bank and Trust Company. Persons with questions regarding the tender offer should contact the Information Agent at (800) 322-2885 or the Dealer Manager at (800) 624-1808.

This announcement is not an offer to purchase, a solicitation of an offer to purchase nor a solicitation of consents with respect to the Securities. The offer is made only by an Offer to Purchase and Consent Solicitation Statement dated January 4, 2001, as amended by Supplement No. 1 thereto dated May 25, 2001, and the related Letter of Transmittal and Consent, as the same may be further amended or supplemented from time to time.