Company supported by access to more than $13 billion in credit lines, plans aggressive expansion of aviation leasing and financing activities.

Hong Kong –Hong Kong Aviation Capital (“HKAC”), a leading investor in the global aviation sector, today announced that it has closed nearly $1 billion worth of airline lease transactions in the past six months.

One transaction includes three (3) new Airbus A330-300 aircraft to be leased to Hong Kong Airlines, with each retailing for approximately $200 million for a total of approximately $600 million (at Airbus list prices). The deliveries are scheduled for 2010 and 2011. Financing was provided by China Development Bank.

The other transaction provides leasing of ten (10) new ERJ 190 aircraft to Tianjin Airlines. Each aircraft has a list price of approximately $38 million, for a total of approximately $380 million. The deliveries are scheduled for 2009 to 2011. Financing for this transaction was provided by China Ex-IM Bank.

HKAC is a recently-launched consortium that includes Bravia Capital Partners, Inc., with support from Agricultural Bank of China and China Development Bank. Bravia Capital Partners provides the company with high level aircraft management expertise. The Bravia Capital Partners team has a track record of more than 25 years in international aviation investment, co-investment, finance and aircraft management, and has been involved in excess of $4 billion of financing for more than 500 commercial jet aircraft as well as more than 100 passenger to cargo aircraft conversions and airline investments in China and India. HKAC’s banking partners bring significant liquidity and capital to fund the group’s expansion in to the global aviation leasing marketplace.

“Hong Kong Aviation Capital is already a major investor and financier in global aviation, and the transactions we are announcing today are a sign of more to come,” said Bharat Bhise, CEO of Bravia Capital Partners and special advisor to HKAC. “HKAC has strong financing and aircraft management expertise and partnerships with financial institutions that have significant sources of liquidity that will enable us to become one of the dominant players in the aviation industry.”

Banks including the Agricultural Bank of China and the China Development Bank, have provided credit lines in excess of $13 billion to this transaction.

“The financial resources and management expertise that Hong Kong Aviation Capital receives from Bravia Capital Partners are just part of what sets us apart from the competition,” said Stewart Smith, chairman of HKAC and Bravia Capital. “The industry is currently at a crossroads, and growth in global aviation will require new sources of financing combined with management expertise.

ABOUT HONG KONG AVIATION CAPITAL
Hong Kong Aviation Capital (“HKAC”) is a diversified player in the aviation industry. The firm invests in aircraft leases and financial instruments, and also provides aircraft management and consulting services. HKAC’s mission is to prudently invest in the global aviation sector for consistent and long-term returns, creating value for its investors and clients alike. HKAC has a highly capable team with skills and experience in both the financial industry and the management of aircraft assets.