Air Touring Group plc

May 15, 2009 03:18 ET

Change of agreement with Daher-Socata


                                             Air Touring Group plc
                                       ("Air Touring" or "the Company")
                                     Change of agreement with Daher-Socata

Air  Touring announces that it has changed its agreement with Daher-Socata from a Distribution Agreement to  an
Area Sales Representative Agreement ("ASR"). As a Distributor, the Company was committed to acquiring an agreed
number of aircraft each year from Daher-Socata (4 aircraft in 2009 for example). This commitment was considered
to  be  too  onerous in the current economic climate and, whilst the ASR yields a lower margin, it removes  the
commitment to stock a fixed number of aircraft.

At  the same time, an ASR Agreement was signed by Hydra Aviation giving it the right to sell the Socata TBM 850
in  the  United Arab Emirates. This is a significant achievement in the development of Hydra Aviation, the  new
joint venture between Air Touring and Hydra Trading. Hydra Trading is a member of the Royal Group based in  Abu

The Directors of Air Touring Group plc accept responsibility for this announcement.

Michael Pearce
Air Touring Group plc
Tel:  +44 (0) 1 959 579 710
Fax: +44 (0) 1 959 579 731

St Helens Capital Plc
Barry Hocken /Duncan Vasey
Tel: 0207 628 5582

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