Eclipse Aviation Secures Long-Term Financing Through Agreement With ETIRC Aviation in Europe and Russia

Expanded partnership targets Eclipse 500 as the global standard for very

light jets



Jan 14, 2008, 00:00 ET from Eclipse Aviation

    ALBUQUERQUE, N.M., Jan. 14 /PRNewswire/ -- Eclipse Aviation,
 manufacturer of the world's first very light jet (VLJ), today announced it
 will expand its partnership with European Technology and Investment
 Research Center (ETIRC) Aviation. The agreement between the two companies
 includes an equity investment by ETIRC in Eclipse that is substantially in
 excess of $100 million. The agreement also provides for significant
 additional financial benefits to Eclipse as agreed commercial objectives
 are realized. Upon completion of the equity investment ETIRC will be the
 single largest shareholder of Eclipse Aviation. ETIRC CEO Roel Pieper has
 been elected non-executive Chairman of Eclipse Aviation.
 
     ETIRC is currently the exclusive provider of sales, customer service,
 maintenance support and flight training for the Eclipse 500 in the
 countries of Eastern Europe, the Russian Federation, the Commonwealth of
 Independent States and the Republic of Turkey. Under the new arrangement,
 ETIRC will add Western Europe and the United Kingdom to its distribution
 and services area. As a result ETIRC will be the exclusive partner for
 Eclipse in more than 60 countries.
 
     As part of its expanded partnership with Eclipse, ETIRC has the right
 to establish local assembly of the Eclipse 500 within its expanded region,
 helping Eclipse Aviation reach its global volume production goals. ETIRC is
 in advanced stages of discussions for the location of the assembly
 facility. The City of Ulyanovsk in Russia is the leading candidate at the
 moment. Further announcements will be made in the next few months.
 
     "Entrusting the expanded region of Europe to ETIRC in this manner
 represents a significant acceleration of our business plan," said Vern
 Raburn, Eclipse Aviation president and CEO. "Expanding our relationship
 with ETIRC will rapidly increase the impact of the Eclipse 500 in this
 region and position us to meet the needs of our growing number of customers
 outside of North America."
 
     "The Eclipse 500 is by far the best value proposition for jet ownership
 anywhere in the world," said Roel Pieper, CEO of ETIRC. "We are pleased to
 expand our partnership with Eclipse Aviation to further support the volume
 growth of this intriguing and innovative aircraft. We believe that a close
 cooperation between our companies will make the Eclipse 500 the global
 standard for very light jets."
 
     About ETIRC Aviation
 
     ETIRC Aviation S.a.r.l. is a principal driver of the VLJ industry,
 creating virtual jet networks for airlines and aviation entrepreneurs. This
 will provide business communities with affordable, on-demand,
 point-to-point jet travel that drives productivity. ETIRC Aviation will
 offer a full range of white-label VLJ services to virtual jet network and
 jet taxi operators, including a real-time operations system, fleet
 financing, VLJ leasing, business consultancy, pilots, training programmes
 and VLJ maintenance centres. ETIRC Aviation is headquartered in Luxembourg
 and has offices in Moscow, Istanbul and Cyprus. The company was founded by
 Roel Pieper, a former top-level executive at Tandem Computers, Compaq
 Computer, and Philips Electronics. ETIRC Aviation S.a.r.l. has its
 principal place of business at 16 Rue Jean-Pierre Brasseur, L-1258
 Luxembourg. ETIRC Aviation is registered under R.C. Luxembourg B 95 627.
 Contact ETIRC at http://www.etirc.com.
 
     About Eclipse Aviation
 
     Eclipse Aviation is the world's leading very light jet (VLJ)
 manufacturer, producing innovative, affordable jets that are
 revolutionizing air transportation. The company created the VLJ category
 with the design, certification and delivery of the Eclipse 500 -- the
 industry's first VLJ. Eclipse applies advanced technologies, manufacturing
 processes and business practices to create high-performance aircraft that
 cost a fraction of other jets, and provide the lowest cost of jet ownership
 ever achieved. By changing the value proposition for private jet travel,
 Eclipse is allowing more pilots to enter the world of jet-powered aviation
 and enabling a new generation of entrepreneurs to help business travelers
 move between cities on a quick, affordable and convenient basis. Contact
 Eclipse at http://www.eclipseaviation.com.
 
     Eclipse Aviation Corporation, Eclipse and Eclipse 500 are trademarks of
 Eclipse Aviation Corporation
 
     ETIRC Aviation and ETIRC are trademarks of ETIRC Aviation S.a.r.l. and
 ETIRC BV respectively.
 
 
 

SOURCE Eclipse Aviation
    ALBUQUERQUE, N.M., Jan. 14 /PRNewswire/ -- Eclipse Aviation,
 manufacturer of the world's first very light jet (VLJ), today announced it
 will expand its partnership with European Technology and Investment
 Research Center (ETIRC) Aviation. The agreement between the two companies
 includes an equity investment by ETIRC in Eclipse that is substantially in
 excess of $100 million. The agreement also provides for significant
 additional financial benefits to Eclipse as agreed commercial objectives
 are realized. Upon completion of the equity investment ETIRC will be the
 single largest shareholder of Eclipse Aviation. ETIRC CEO Roel Pieper has
 been elected non-executive Chairman of Eclipse Aviation.
 
     ETIRC is currently the exclusive provider of sales, customer service,
 maintenance support and flight training for the Eclipse 500 in the
 countries of Eastern Europe, the Russian Federation, the Commonwealth of
 Independent States and the Republic of Turkey. Under the new arrangement,
 ETIRC will add Western Europe and the United Kingdom to its distribution
 and services area. As a result ETIRC will be the exclusive partner for
 Eclipse in more than 60 countries.
 
     As part of its expanded partnership with Eclipse, ETIRC has the right
 to establish local assembly of the Eclipse 500 within its expanded region,
 helping Eclipse Aviation reach its global volume production goals. ETIRC is
 in advanced stages of discussions for the location of the assembly
 facility. The City of Ulyanovsk in Russia is the leading candidate at the
 moment. Further announcements will be made in the next few months.
 
     "Entrusting the expanded region of Europe to ETIRC in this manner
 represents a significant acceleration of our business plan," said Vern
 Raburn, Eclipse Aviation president and CEO. "Expanding our relationship
 with ETIRC will rapidly increase the impact of the Eclipse 500 in this
 region and position us to meet the needs of our growing number of customers
 outside of North America."
 
     "The Eclipse 500 is by far the best value proposition for jet ownership
 anywhere in the world," said Roel Pieper, CEO of ETIRC. "We are pleased to
 expand our partnership with Eclipse Aviation to further support the volume
 growth of this intriguing and innovative aircraft. We believe that a close
 cooperation between our companies will make the Eclipse 500 the global
 standard for very light jets."
 
     About ETIRC Aviation
 
     ETIRC Aviation S.a.r.l. is a principal driver of the VLJ industry,
 creating virtual jet networks for airlines and aviation entrepreneurs. This
 will provide business communities with affordable, on-demand,
 point-to-point jet travel that drives productivity. ETIRC Aviation will
 offer a full range of white-label VLJ services to virtual jet network and
 jet taxi operators, including a real-time operations system, fleet
 financing, VLJ leasing, business consultancy, pilots, training programmes
 and VLJ maintenance centres. ETIRC Aviation is headquartered in Luxembourg
 and has offices in Moscow, Istanbul and Cyprus. The company was founded by
 Roel Pieper, a former top-level executive at Tandem Computers, Compaq
 Computer, and Philips Electronics. ETIRC Aviation S.a.r.l. has its
 principal place of business at 16 Rue Jean-Pierre Brasseur, L-1258
 Luxembourg. ETIRC Aviation is registered under R.C. Luxembourg B 95 627.
 Contact ETIRC at http://www.etirc.com.
 
     About Eclipse Aviation
 
     Eclipse Aviation is the world's leading very light jet (VLJ)
 manufacturer, producing innovative, affordable jets that are
 revolutionizing air transportation. The company created the VLJ category
 with the design, certification and delivery of the Eclipse 500 -- the
 industry's first VLJ. Eclipse applies advanced technologies, manufacturing
 processes and business practices to create high-performance aircraft that
 cost a fraction of other jets, and provide the lowest cost of jet ownership
 ever achieved. By changing the value proposition for private jet travel,
 Eclipse is allowing more pilots to enter the world of jet-powered aviation
 and enabling a new generation of entrepreneurs to help business travelers
 move between cities on a quick, affordable and convenient basis. Contact
 Eclipse at http://www.eclipseaviation.com.
 
     Eclipse Aviation Corporation, Eclipse and Eclipse 500 are trademarks of
 Eclipse Aviation Corporation
 
     ETIRC Aviation and ETIRC are trademarks of ETIRC Aviation S.a.r.l. and
 ETIRC BV respectively.
 
 
 SOURCE Eclipse Aviation