SOURCE: AVSTAR Aviation Group, Inc.

August 23, 2010 11:33 ET

AvStar Aviation Group, Inc. Announces the Acquisition of Twin Air Calypso Limited, Inc.

HOUSTON, TX--(Marketwire - August 23, 2010) -  AvStar Aviation Group, Inc. (PINKSHEETS: AAVG) is proud to inform shareholders, potential investors and the general public of the recent acquisition of Twin Air Calypso Limited, Inc. on August 19, 2010 for cash and stock.

The Twin Air Calypso Limited, Inc. acquisition is AvStar's initial expansion into the international air carrier market and is consistent with the plan to expand AvStar into multiple sectors of the aviation industry. The acquisition of Twin Air Calypso Limited, Inc. provides AvStar an experienced FAA Part 135 Air Carrier management team, a fleet of eight aircraft, and a 50 plus year customer base in the United States to Bahamas passenger and freight markets. AvStar will provide Twin Air Calypso Limited, Inc. the ability to access the public equity markets thus allowing for expansion and growth opportunities unable to be matched by competition.

Newly appointed CEO Clayton Gamber states, "AvStar is pleased to be entering the air carrier market and looks forward to serving the passenger and freight requirements of the citizens and tourists of the Bahamas. Being a subsidiary of AvStar will allow Twin Air Calypso Limited, Inc. to upgrade the existing fleet of aircraft, open new destinations, and increase the capacity of the existing route structure. AvStar's maintenance and repair facilities in South Florida will provide airframe and engine maintenance, ground support, and fueling services for the Twin Air Calypso Limited, Inc. aircraft, making the AvStar family a vertically integrated operation."

Forward-Looking Statements: Certain statements contained in this release issued by AvStar Aviation Group, Inc. (the "Company") that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are statements regarding the intent, belief, or current expectations, estimates, or projections of the Company, its directors, or its officers about the Company and the industry in which it operates and are based on assumptions made by management. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.

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