SOURCE: Groen Brothers Aviation, Inc.

November 15, 2007 07:00 ET

Groen Brothers Aviation Selected as One of Utah's Top High Tech Companies

SALT LAKE CITY, UT--(Marketwire - November 15, 2007) - Groen Brothers Aviation, Inc. (OTCBB: GNBA), based in Salt Lake City, Utah, announced today that Utah Business Magazine has selected Groen Brothers Aviation (GBA) for inclusion in their 2007 High Tech 20 list. "Utah has much to be proud of regarding the quality and magnitude of its high technology industry," said GBA Chairman, President & CEO David Groen. "We are honored to be included in such a prestigious group." Demonstrating the wide variation in Utah's growing high-tech sector, an example of others chosen for the High Tech 20 list were: ATK Launch Systems Group, rocket motor manufacturers; GoEngineer, design software leader; and WorldHeart Corporation, manufacturer of the life-prolonging Levacor Ventricular Assist Device (VAD).

Groen Brothers Aviation was also recently featured on the front page of the Money section of the Salt Lake Tribune. In a two page article titled "Looking to go Vertical," the Tribune focused on GBA's contract with the U.S. Department of Defense Advanced Research Project Agency (DARPA) to design and build a combat search and rescue aircraft. With Phase I of the project nearing completion, the GBA-led team includes aircraft manufacturer Adam Aircraft, turbine engine manufacturer Williams International (both with production facilities in Utah) and the Georgia Institute of Technology.

About Groen Brothers Aviation, Inc.

Groen Brothers Aviation, Inc. has been developing gyroplane technology since 1986 and is recognized as the world's leading authority on autorotative flight. Powered by a Rolls-Royce gas turbine engine, GBA developed the world's first commercially viable modern gyroplane -- the first "autogiro" to utilize a jet engine -- the Hawk 4 Gyroplane. The Hawk 4 was used extensively for security aerial patrol missions during the 2002 Winter Olympics in Salt Lake City.

GBA announced in October 2005 that DARPA, an arm of the United States Department of Defense, awarded a contract to a GBA-led team to design a proof of concept high speed, long range, vertical takeoff and landing (VTOL) aircraft designed for use in Combat Search and Rescue roles. This modern rotorcraft, named by DARPA as the "Heliplane," is designed to exploit GBA's gyrodyne technology; offering the VTOL capability of a helicopter, the fast forward flight of an airplane, and the safety, simplicity and reliability of a GBA gyroplane. The first phase of the contract totaling $10.4 million includes preliminary design development and key technology demonstrations. The contract has the potential to become a $54 million dollar, multi-phase program for the GBA-led team. The Heliplane could be the next generation rotor wing aircraft, meeting economy and performance goals not considered achievable by any other type of VTOL aircraft.

In December 2006, GBA announced the signing of a Memorandum of Understanding [with the government of Aragón, Spain] to complete FAA certification, production, marketing, and delivery of GBA's Hawk 5 Gyroplane, based on the Hawk 4 prototype.

Through its American Autogyro division, GBA has developed and is selling a smaller kit gyroplane, the two seat "SparrowHawk II." GBA is offering this aircraft as a safe, extremely economical Airborne Patrol Vehicle (APV) for law enforcement and other government applications. Groen Brothers is also developing a production two-seat gyroplane for both the "Airborne Law Enforcement" and "Light Sport Aircraft" (LSA) markets. The Company continues to develop an international and nationwide dealership network for the sale of these products.

Further information about the Company, its products, and individual members of the GBA Team is available on the Company's web site at: www.groenbros.com.

Safe Harbor Statement/Forward-Looking Information Disclaimer

Certain statements in this news release by Groen Brothers Aviation are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information is subject to risk and uncertainty. Certain statements in this Press Release may contain forward-looking information that involves risk and uncertainty, including but not limited to, the Company's ability to fund ongoing operations and to complete its obligations under the government contract and its other ongoing commitments. Future results and trends depend on a variety of factors, including the Company's successful execution of internal performance plans and agreements; product development and performance; risks associated with regulatory certifications of the Company's commercial aircraft by U.S. and foreign governments; government bid and funding availability uncertainty; other regulatory uncertainties; performance issues with key suppliers and subcontractors; governmental export and import policies; and the ability to adequately finance operations including meeting its debt obligations, fund manufacturing and delivery of products.

Contact Information

  • FOR FURTHER INFORMATION
    Hank Parry
    Media
    Al Waddill
    Investor Information
    Groen Brothers Aviation, Inc.
    801/973-0177