Flightstar Expands at Cecil Commerce Center

Business Wire, April 15, 2004

Business Editors

JACKSONVILLE, Fla.--(BUSINESS WIRE)--April 15, 2004

Flightstar Aircraft Services, Inc. is pleased to announce that the company has finalized negotiations with the Jacksonville Airport Authority to lease an expanded facility at the Cecil Commerce Center located in Jacksonville, Florida.

"This is a very exciting point in time for Flightstar. Our expansion needs have been met successfully with the support of the Jacksonville community," stated Jerry Hernandez, Flightstar's President. He went on to say that, "The new larger facility will allow us to appropriately address our current customers' increased needs, and welcome new customers."

The lease arrangement calls for an initial term of 25 years. As part of the agreement, the Jacksonville Airport Authority will construct a major addition to the existing hangar and will provide updates to the facility. Upon completion, the hangar will contain nine bays and will be fully capable of supporting B727, B737, B757, B767, DC9 and MD80 aircraft.

John Peyton, Mayor of Jacksonville said that, "It's great to see a company the caliber of Flightstar expanding their business by moving to Cecil Commerce Center. They will certainly be a welcome addition as we continue the development of Cecil as a center of aviation commerce." In addition, Kirk Wendland, the Executive Director of the Jacksonville Economic Development Commission said that, "Flightstar is precisely the type of company we need to help create the synergy to attract aviation parts and suppliers to Cecil Commerce Center. Flightstar joins Boeing, Northup Grumman, LSI, NADEP, Jet Turbine Services and Titan Systems already on Cecil's tenant list, and we welcome them."

Flightstar expects to begin the transition into the new facility in the fourth quarter of 2004.

About Flightstar

Founded in April, 2000 and based at the Jacksonville International Airport, Flightstar Aircraft Services, Inc. (www.flightstarjax.com) is a leading provider of heavy maintenance and inspection services as well as modification services for narrowbody air transport category aircraft. The company specializes in MD80, DC9, B727 and B737 aircraft. Services include all levels of scheduled maintenance from daily line checks to heavy depot level maintenance. Additionally the company provides engine changes, complete avionics modifications, structural modifications and upgrades, reduced noise level modifications and passenger to freighter conversions. Flightstar is an FAA approved repair station (certificate # FOTR986N).