Funding Targeted for A700 VLJ Certification and Acceleration of A500 Customer Deliveries

Englewood, Colorado, June 19, 2007—— Adam Aircraft, a leading designer and manufacturer of advanced carbon composite aircraft for the twin piston and very light jet (VLJ) markets, announced today that the firm recently finalized a $105 million round of financing including a senior secured credit facility with Morgan Stanley Senior Funding acting as lead arranger. The company plans to use the new capital to accelerate the production rate of the FAA-certified A500 piston twin and complete the certification of the A700 VLJ and bring that aircraft to full rate production.

"This financing allows Adam Aircraft to aggressively pursue our product development and production growth plans," said Founder and CEO Rick Adam. "Our order backlog, valued at nearly $800 million, gives our investors and customers added confidence that Adam Aircraft will continue to extend its leadership in this industry."

"We value highly our capabilities and technology that allowed us to attract both new and existing investors to this round of funding. Our innovation and creativity places us in a superior position to be a competitive airframe manufacturer now and into the foreseeable future," said Chris Naro, Adam Aircraft CFO.

About Adam Aircraft

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, which is currently undergoing flight test and development, will carry seven people and feature the best people-to-price performance ratio of any VLJ. Adam Aircraft headquarters are based at 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.

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