Orlando, FL, October 16, 2006—— Adam Aircraft is pleased to announce that Magnum Jet has chosen the A700 AdamJet for its new Very Light Jet (VLJ) ownership and management program and future air limo service.

"Adam Aircraft is eager to help launch Magnum Jet’s innovative and comprehensive ownership program, which extends the breadth and depth of the emerging Very Light Jet marketplace," said Adam Aircraft founder and CEO Rick Adam. "The Magnum Jet mission fits the A700 AdamJet operating profile, which is to fly well over 1,000 hours a year. With a delivery order for 101 A700 aircraft, Magnum Jet has placed their confidence in Adam Aircraft as a leader in the VLJ marketplace."

"We carefully selected the A700 AdamJet for our ownership program and future services. The A700 provides the right blend of comfort and stability, with four to five passenger seats and aft lavatory. The advanced design, based upon the carbon fiber structure, provides a distinctive profile that has drawn substantial interest in the market," said Jim Burns, CEO of Magnum Jet.

Adam Aircraft is a designer and manufacturer of advanced aircraft for civil and government markets. The company uses computer-aided design, rapid prototyping, advanced manufacturing techniques, and carbon composite materials to produce high-performance aircraft at attractive prices. The A500 twin-engine piston aircraft has been Type Certified by the FAA, and the A700 AdamJet is currently undergoing flight test and development. The company’s largest outside investor is Goldman Sachs. Adam Aircraft headquarters are based on Centennial Airport (APA) in Englewood, Colorado, with additional facilities in Pueblo, Colorado, and Ogden, Utah. To learn more about the company, visit www.adamaircraft.com.

Magnum Jet, headquartered in Connecticut, was formed in partnership with Proctor NBF Capital Partners to bring Very Light Jets to market. Along with the Company’s strategic partners, Magnum will offer a turnkey ownership and comprehensive management program for Very Light Jet owners and will operate an air limo service for regional travel. For more information please visit www.magnumjet.com.

Original Release