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Premier Aircraft Awarded STC for Falcon 50-4 Performance Upgrade - FAA Certificate follows nine-month program timeline for significant performance enhancements over original TFE-731-3-powered Falcon 50

Rye, NH, January 31, 2007 - Premier Aircraft, LLC, today has been awarded an FAA Supplemental Type Certificate (STC) for the Falcon 50-4 Performance Upgrade, which allows operators significantly improved range, payload, speeds and time-to-climb.

The certificate was presented by Jonathan Oxman, FAA Program Manger, Long Beach, CA ACO to Ken Shimabukuro, Premier Aircraft 50Dash4 program manager and John Ligon, President, Flight Test Associates, Mojave, CA.

The STC covers conversion by Honeywell of the original TFE-731-3/3D engines to TFE-731-4-1C configuration, including installation of new exhaust nozzles and minor modifications by Premier to the Falcon 50 nacelles and engine instruments. Installation can take as little as 14 days total downtime per aircraft.

Major performance numbers include a 300 nautical mile range increase at Mach .80 under certain operating conditions. In all cases the time to climb, range, payload and cruise speeds are enhanced with the 50Dash4 STC. In addition, the 50Dash4 meets the ICAO Chapter 4 noise requirements.

The program was developed by Premier and supported by Honeywell, with certification and performance flight testing by Flight Test Associates of Mojave, California.

Performance achieved was typically above Premier's estimates, according to Ken Shimabukuro. "Our targets were both realistic and conservative," he said. "We knew the market response would readily accept our predicted numbers, and now that we have improved upon those numbers, we are very pleased."

Jim Swehla, president of Premier Aircraft added, "The 50Dash4, with increased thrust, flat rated to a higher altitude, takes less time to climb, increases range and payload and flies 18 to 20 knots faster in cruise. It's truly a value-based upgrade for all Falcon 50 owners to assess."

Nacelle-nozzle integration tests were completed at Honeywell's engine facilities, and performance improvement targets benchmarked. The flight testing and performance verification was accomplished in 80 hours of flying.

Customers will find the upgrade most cost-effective when their aircraft is also due for Major Periodic or Compressor Zone Inspections. For customers enrolled on MSP, Honeywell will apply MSP payments against the engine conversion cost, which can significantly reduce the upgrade list price of $2.305 million. The Premier Falcon 50-4 Performance Upgrade provides several performance enhancements:

   Higher climb and cruise thrust
   Lower specific fuel consumption
   Up to 26 per cent greater range from high-hot airports
   Over 200 NM range increase at . Mach 0.75 and 300 NM at Mach 0.80
   Reduced time to climb, and higher initial cruise altitude
   ICAO Chapter 4 Noise compliant
   Extended 2500/5000 hour MPI/CZI intervals, special 3 year/ 1800 hour engine warranty and reduced MSP rates.

Non-MSP customers will be offered the right to enroll at the reduced TFE731-4-1C hourly rate.

Premier Aircraft, LLC is a limited liability company formed by Premier Air Center, Inc. of East Alton (St. Louis), Illinois and Yankee Pacific Aerospace, Inc., of Rye, NH.

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500 Brackett Road | Rye, New Hampshire 03870 | Telephone: 603.433.3110