HeliFlite Shares to House National Operations Center at Fort Worth's Alliance Airport

Pioneer in Helicopter-Based Fractional Ownership Services Says Facility Ideal

for Regional Transportation Product

Nov 10, 1998, 00:00 ET from HeliFlite Shares LLC

    FORT WORTH, Texas, Nov. 10 /PRNewswire/ -- Officials with HeliFlite Shares
 LLC and Hillwood Development Corporation today announced that HeliFlite is the
 newest tenant at Fort Worth's Alliance Airport complex.  The firm, a pioneer
 in corporate helicopter fractional ownership services which had occupied
 temporary space at 2421 Westport Parkway, has signed a letter of intent for
 approximately 5,000 square feet of office and hangar space for its National
 Operations Center and to house its fleet of new Bell 430 intermediate twin-
 engine corporate helicopters.  The first helicopter is scheduled to enter
 service with the firm's clients in February 1999.
     "We found three things that set Alliance apart from other sites we
 considered.  First, the quality of its aviation and office facilities, second,
 the location to prospective clients, and third, the people of Hillwood
 Development Corporation who recognized and met our unique requirements.
 Alliance was the best selection for our National Operations Center," said
 Phillip M. (Mark) Ozenick, President and CEO for HeliFlite.
     Mike Berry, President of Hillwood Development Corporation, said,
 "HeliFlite's innovative product will enhance the attractiveness of the
 Alliance project by offering professional helicopter management that meets the
 transportation needs for corporations and individuals in this region."
     HeliFlite Shares LLC, an innovator in regional transportation solutions
 for corporate and individual clients, recently announced its order of two new
 Bell 430 twin-engine helicopters and option for eight more from Fort Worth-
 based Bell Helicopter Textron.  The transaction is valued in excess of
 $52 million.
     Fractional ownership of fixed-wing aircraft is an industry-proven product
 that continues to grow at a phenomenal rate as it makes corporate aircraft
 ownership more cost-effective.  HeliFlite is unique in that they are applying
 fractional ownership to a state-of-the-art helicopter product to serve a
 regional transportation niche.  Initial aircraft will serve Texas followed by
 expansion plans in California and other markets deemed appropriate.
     HeliFlite's aircraft will provide a "flying boardroom" environment with
 certified professional flight crews, plush amenities, state-of-the-art onboard
 communications and multimedia equipment to promote efficiency and
 functionality in the air.  The program is combined with turnkey management of
 aircraft and maintenance by the acknowledged leader in helicopter aircraft,
 Bell Helicopter Textron.

SOURCE HeliFlite Shares LLC