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June 18, 1997

Bombardier, Gulfstream, Boeing, Airbus ... And Galaxy?

Paris (June 18, 1997) -- Aiming their sights at the midsize and super-midsize corporate jet market, Galaxy Aerospace Corporation makes it's first appearance at the Paris Air Show this year. The company's top seller, the SPX model, has a production rate of 11 aircraft a year with plans for an increase to up to 15 in 1998. Galaxy has hopes of a production rate of around 24 total aircraft a year, but can support an increase of up to 36, if necessary.

Certified just last year, 10 of Galaxy's Astra SPX's were delivered in 1996. The company boasts clients from U.S. Fortune 500 companies as well as commercial enterprises in Argentina, Brazil, Canada, and the United Kingdom. The SPX has also been selected recently by the U.S. Air Force and Air National Guard for transport and medical evacuation missions.

In a joint-venture with Israel Aircraft Industries, Galaxy is presently in the stages of developing an intercontinental super-midsize business jet to add to its product line.

Roger Sperry, executive vice president for the fledgling company, says Galaxy will continue to enhance the value of it's aircraft through improved service. Galaxy plans to add more field service representatives, placed closer to customers in addition to increasing parts inventories by 25 percent to ensure accessibility. The company already offers trade-in programs and guarantees a lower cost-per-nautical-mile than any midsize jet traded for a new Galaxy.

Galaxy President and CEO Brian Barents asserts his belief in his company's potential for growth, insisting, "The market is recognizing the unmatched performance of the SPX and it's reliability. There is also growing confidence in Galaxy Aerospace as we follow through on our commitment to improve and expand the service organization that supports the Astra and Westwind family. I think it is very realistic for us to increase our share of the mid-size market."

Both Sperry and Barents hail from Learjet, where Berents served as CEO for the Bombardier subsidiary. As Galaxy's new president, Berents claims to have put together a winning team, a point he emphasizes often. As Berents states, "This is a business built on personal relationships. It is more than one person; it is a team and that team is what makes the difference."

Berents also buys into the concept of fractional ownership, a hot topic at this years show, and in the corporate jet market in general. "I'm a firm believer in the program," says Berents, "and we will be involved with a fractional program, either through a third-party or on our own."

Still, fractional ownership may be a ways away as Galaxy must first scramble to establish itself as a real contender in a market full of seasoned veterans. Berents is confident in his company's ability to do so, stating, "You will see a substantial increase in sales of the SPX. It is truly a remarkable aircraft."


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