Venga Aerospace Systems Inc.

Venga Aerospace Systems Inc.

December 12, 2006 08:45 ET

U.S. State Department Approves Venga's Intended Purchase of Proposed Snowbirds Replacement Aircraft

TORONTO, ONTARIO--(CCNMatthews - Dec. 12, 2006) - Venga Aerospace Systems Inc. ("Venga")(TSX VENTUR:VAV)(PINK SHEETS:VNGAF) announces that, further to the Company's current proposal to lease Hawk aircraft to the Canadian government as replacement aircraft for the Canadian Forces' Snowbirds demonstration squadron, the United States Department of State has now granted Venga preliminary approval to re-export 18 Hawk MK66 aircraft from the Swiss government. The Company further announces that, Public Works and Government Services Canada, has now issued Venga a Controlled Goods Certificate, which allows the Company to examine, possess and transfer controlled goods in accordance with Canada's Defence Production Act and the Controlled Goods Regulations.

Venga has a participatory interest in the 3DP North America Joint Venture, which markets and sells a range of 3D related products and services to consumer and commercial customers. The Company, in association with ARINC Incorporated (, has made an unsolicited proposal to the Canadian government to provide replacement aircraft for the Canadian Forces' Snowbirds demonstration squadron. This proposal is currently being reviewed by the Canadian government but has yet to be accepted.

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that may cause the Company's results to differ materially from expectations and speak only as of the date hereof.

SHARES ISSUED: 201,184,633

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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