Global HeavyLift Holdings, LLC Clarifies Prior Release Regarding Plan to Acquire Boeing C-17 Globemaster III Airlift Aircraft For Commercial Applications

Mar 09, 2007, 00:00 ET from Global HeavyLift Holdings, LLC

    CHICAGO, March 9 /PRNewswire/ -- Global HeavyLift Holdings, LLC (GHH),
 a Florida-based Defense Logistics Agency listed air cargo strategic
 solutions entity, today clarified certain statements contained in its press
 release of March 3, 2007 regarding its plan to acquire Boeing C-17
 Globemaster III aircraft for commercial applications.
     GHH's press release referred to a letter of intent received from
 Oppenheimer & Co., Inc. with respect to raising capital for GHH's planned
 aircraft acquisitions. The letter received by GHH was an indication by
 Oppenheimer of an interest in participating in the creation of a proposed
 consortium/syndicate, consisting of other investment institutions already
 approached, to provide capital for GHH's planned aircraft purchases through
 a simultaneous equity raise in the U.S., Europe and Asia. This approach
 taps into the vast private equity resources existing globally, thus
 increasing the probability of success. Consistent with industry practice,
 any such commitment would be issued by Oppenheimer or other capital sources
 only after requisite due diligence had been performed, and all necessary
 approvals had been obtained. Therefore, at this time Oppenheimer has not
 committed to finance, or arrange or secure financing for, the planned
 aircraft purchases.
     Of course, this is a raise, not financing.
     GHH Managing Member Myron Stokes notes, "This is a clarifying statement
 that is to be viewed as standard practice regarding any public release of
 this nature concerning financial transactions real or proposed."
     About Global HeavyLift Holdings, LLC
     GHH is a strategic air transport solutions entity that was born of a
 multi-year public/private effort among forward thinkers in both the private
 sector and government to mitigate emerging and observable vulnerabilities
 in the U.S. industrial base global supply chain. Such vulnerabilities are
 represented by the fact that no ocean-borne shipping is in U.S. hands at
 present, thus potentially subjecting American corporations, especially
 automotive, and their global operations to the whims and perhaps
 economically hostile activities of and by foreign governments. Add to this
 the risk of terrorist activities, which have, according to the Department
 of Homeland Security, targeted maritime operations; i.e., ships, ports and
 ocean containers.
     Defense Logistics Agency (DLA) listed, ( ) it is the
 goal of GHH and its strategic partners around the planet to work with key
 logistics personnel within these corporations and government agencies to
 conceptualize, craft and structure long-term global supply chain
 alternative transportation methodologies through continuous -- not stop gap
 or emergency - - air augmentation solutions. Its most important mission,
 however, has been in the co-development of global architecture for
 infrastructure of a new American controlled industry, Heavylift, utilizing
 the excellent airlift performance characteristics of the Boeing C-17.

SOURCE Global HeavyLift Holdings, LLC