Englewood, CO, February 8, 2006—— Adam Aircraft today delivered a recap of significant events and achievements for the firm during calendar year 2005. Rick Adam, Adam Aircraft Founder and Chief Executive Officer, noted, "The team worked diligently all year and stayed focused on completing our short-term objectives that helped us achieve our long-term goals. This hard work paid off as we offered superior value and performance throughout the year to both customers and investors."

"The firm achieved our most significant milestone in November, when we completed our first customer delivery, Serial Number 005 of the A500 piston twin aircraft," continued Adam. "This achievement moved Adam Aircraft from a developmental company to an FAA-certified manufacturer delivering standard airworthiness-certificated aircraft."

On May 11, 2005, the Federal Aviation Administration granted a Type Certificate to the Adam Aircraft A500, allowing the firm to work toward customer delivery and serving as the precursor to the first delivery on November 7, 2005, and the second delivery of Serial Number 006 on December 29, 2005. Following A500 certification, the company completed many upgrades, including a production interior, passive restraints and airbags, an STC (Supplemental Type Certificate) with the aircraft’s Avidyne Entegra avionics panel, and all maintenance and parts documentation.

Also during the year, Adam Aircraft rolled out Serial Number 002 of the revolutionary A700 Adam Jet, which will serve as the standard production and FAA certification aircraft. Additionally, the company created and installed significant upgrades to the A700 Very Light Jet, including the Avidyne Primary Flight Displays (PFD) and Multi-Function Displays (MFD), fuel belly pod, autopilot, pressurization, and expanded nose baggage configuration.

During the year, Adam Aircraft completed sales to individual owners, fleet companies, and air taxi operators that increased the company’s sales backlog year-over-year from 222 aircraft sales and a backlog of $435 million, December 31, 2004, to 358 aircraft sales and a backlog of $730 million, December 31, 2005.

In November, the General Aviation Manufacturers Association (GAMA) Board of Directors unanimously voted Adam Aircraft into its national trade association, which represents the leading general aviation manufacturers. Also in November, A500 Serial Number 002 completed the first-ever Adam Aircraft international flight, flying to the Bahamas and the Dominican Republic during a five-day mission.

General Wesley Clark, noted soldier and Rhodes Scholar, joined the Adam Aircraft Board of Directors. The firm also added two skilled and experienced executives from the General Aviation industry. Bill Watters joined as Vice President, Flight Operations. Watters formerly served with Gulfstream Aerospace Corporation as Chief Pilot and Senior International Captain, and Shelly Simi, former Vice President of the General Aviation Manufacturers Association (GAMA), came on board as Public Relations Counsel. In May, the firm opened a second assembly facility in Ogden, Utah.

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. .

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Shelly Simi
Original Release