ASTAR Air Cargo Announces Finance Department Promotions; Creates New Community Liaison Post

Business Wire, July 23, 2007

Motta, Godly, and Dodd Named Managing Directors; Nobo and Marin Appointed Senior Managers

MIAMI -- ASTAR Air Cargo today announced several promotions and additional responsibilities for members of its Finance Department. Steven A. Rossum, Executive Vice President- Chief Financial Officer and Treasurer announced that:

* Pedro Motta will be promoted to Managing Director, Finance and Accounting and acting Controller/Chief Accounting Officer. Motta, who previously served as ASTAR's Director of Financial Planning and Analysis will be responsible for financial planning and analysis, budgeting, financial accounting reporting, pensions and insurance, fleet planning, and serving as the finance liaison with DHL Express, ASTAR's principal customer. Motta will report to Rossum. Motta joined ASTAR (then DHL Airways) in 2002 as a Senior Financial Analyst. Motta received an MBA from the Kellogg School of Management at Northwestern University and an Aeronautical Science degree from PUC/RS in Brazil. Motta previously was a commercial airline pilot in Brazil.

* Martin Godly will be promoted to the expanded role of Managing Director, Operations Finance. Godly previously served as a Director, Operations Controller. Godly is presently responsible for business oversight of flight and ground operations, aircraft maintenance, operational cost containment, and charter profitability. Godly's additional responsibilities will include operations accounting, corporate purchasing, route planning, and aircraft utilization. Godly joined ASTAR in 2003 as Director of Financial Planning and Analysis after more than 22 years as an aviation consultant and as an employee of Pan American World Airways. He has engineering degrees from Princeton and MIT and an MBA from Rutgers University. Godly will report to Rossum.

* Stephen Dodd will be promoted to Managing Director, Corporate Finance and Chief Information Officer. Dodd previously served as Director of Corporate Finance and Information Technology and will be responsible for information technology and corporate finance matters including financing transactions, payroll, and corporate taxes. He joined ASTAR in 2003 as a Financial Analyst. Dodd has an MBA from the University of Florida and a BS degree from the Wharton School of Business at the University of Pennsylvania and has held operational and managerial positions in various industries. He will continue to report to Rossum.

* Marta Nobo will be promoted to Senior Manager - Finance and Assistant Treasurer. Nobo has undergraduate and masters degrees in accounting from Florida International University and is currently pursuing an MBA at the University of Miami. She joined ASTAR in 2003 as a senior accountant from PriceWaterhouseCoopers. Nobo is a certified public accountant and reports to Rossum for treasury matters and to Dodd with respect to corporate finance, payroll, and taxes.

* Alejandra Ramirez Marin will be promoted to Senior Manager - Corporate Accounting and Assistant Controller. Marin has an accounting degree from Florida International University and joined ASTAR in 2006 from Pharmanet Development Group (NASDAQ:PDGI) where she served as Assistant Controller. She is a certified public accountant and was also previously employed at Grant Thornton. Marin reports to Motta.

"I am delighted to announce the promotions of these outstanding financial leaders," said Rossum. "These talented and versatile executives are being elevated to roles where they will contribute to ASTAR's business opportunities and financial leadership."

In addition to his finance responsibilities, Godly will fill the newly created role of ASTAR's liaison with the City of Wilmington and Clinton County, Ohio. Godly currently serves as Co-Chair of ASTAR's Charity Committee. "This new position in community affairs is extremely important for ASTAR," said Rossum. "We are dedicated to being a responsible corporate citizen and an integral part of the communities where our employees live and work and we encourage our employees to be involved. I believe this new post is a critical step as we redouble our commitment to the Wilmington community."

All of the named executives are based at ASTAR's Miami headquarters except for Godly who will continue work in Wilmington, Ohio. An organizational chart is attached.

About ASTAR Air Cargo, Inc.

ASTAR Air Cargo, Inc. is the operating subsidiary of ASTAR Air Cargo Holdings, LLC. ASTAR Air Cargo is a licensed U.S. air carrier operating a fleet of 44 aircraft from its operational hub in Wilmington, Ohio. The airline provides all-cargo scheduled and charter services on a contract basis for the DHL Worldwide Express network and charter services on a contract basis for other customers including the U.S. military and the United States Postal Service. ASTAR Air Cargo is a participant in the United States Civil Reserve Air Fleet program supporting our national defense. Additional information can be found at www.astaraircargo.us.