Company names Morten Wagner as winner of auction

ALBUQUERQUE, NM — August 27, 2007 — Eclipse Aviation, manufacturer of the world’s first very light jet (VLJ), today announced the winner of its Eclipse 500 auction through the company’s private label online marketplace powered by eBay. The auction concluded when Morten Wagner of Denmark placed his winning bid of $1,833,945 at 2:00 a.m. his time on August 11, 2007. Wagner plans to accept his Eclipse 500 at the company’s headquarters in Albuquerque this week.

“I was just sitting there, holding my breath, watching the auction run out,” said Wagner. “When I saw I had won, I was delirious; I woke up the whole house and told everyone I just bought an aircraft on Eclipse’s private marketplace.”

The 35-year-old internet entrepreneur said he was determined to win the auction and was prepared to make another bid if he had to. Wagner, the founder of his company, Freeway, plans to use his Eclipse 500 for business travel throughout Europe, and to travel between his homes in London, Spain, and Denmark. Wagner said he started flying about a year and a half ago and has been following Eclipse Aviation ever since. He has already accumulated 462 hours and currently flies a Cirrus SR22.

“I’ve wanted an Eclipse 500 for a long time,” Wagner said. “To me, it’s top of the line, and the most beautiful aircraft around.”

Eclipse Aviation announced the auction of aircraft serial number 000038 at EAA AirVenture in Oshkosh, WI on July 25, 2007. The auction of the VLJ went live on an online private marketplace powered by eBay at 11:00 a.m. EDT July 30, 2007 and concluded shortly after 8:00 p.m. Eastern on August 10, 2007. More than 200 people were registered on eBay to bid on the aircraft. There were a total of 15 bids amongst six bidders.

“The fact that we can sell an early Eclipse 500 on an open market for more than $1.8 million demonstrates the enormous demand for very light jets, and particularly for the aircraft that started it all and still offers the market’s best value proposition,” said Vern Raburn, president and CEO of Eclipse Aviation. “It’s exciting to see that the winner is going to put his Eclipse 500 to great use in both his business and personal life.”

The auction was open to both existing Eclipse Aviation Bidders’ Club members, as well as non-members who were interested in purchasing an early Eclipse 500. The Bidders’ Club was originally offered from May 2000 to May 2002.

About Eclipse
Eclipse Aviation, manufacturer of the world's first very light jet, is in the business of designing, certifying and producing modern, affordable jet aircraft that will revolutionize the transportation market. The company is applying advanced electronics systems, manufacturing and business practices to produce aircraft that cost half that of today's small jet aircraft, will be significantly safer and easier to operate than those of today, and have the lowest cost of ownership ever achieved in a jet aircraft.

The goal of Eclipse is to bring the word "personal" into aviation, making it possible for business travelers to move directly between cities on a quick, affordable and convenient basis. It will also allow pilot owners to enter the world of jet-powered aviation. Contact Eclipse at http://www.eclipseaviation.com.

Original Release

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