Liberty Aerospace, Inc. Closes Major Debt Financing

Melbourne, FL USA (October 16, 2007) Liberty Aerospace, Inc., (“Liberty”) the general aviation manufacturer of the Liberty XL-2 aircraft, announced today that they have closed a major debt financing which will allow Liberty to significantly expand its production capacity to meet growing U.S. and international demand for the Liberty XL-2 aircraft.  The financing was arranged by Kuwait Finance House (Bahrain), which manages Liberty’s major shareholder, Fernas Europe slf.

“The decision to raise finance for Liberty’s expansion plans was based on the strong worldwide demand for Liberty’s XL-2 aircraft which has been achieved by Liberty’s exceptional leadership team and dedicated work force. The finance is important as it gives strength, stability, and resources to Liberty that will culminate in Liberty’s further success in aircraft sales.” said Mr. Abdulhakeem Alkhayyat – General Manager of Kuwait Finance House (Bahrain) B.S.C., and director of Liberty.

“With the global market rapidly expanding, and the ease in which the XL-2 is exportable, Liberty will become the premier two-seater, all-purpose aircraft, worldwide,” stated Keith Markley.  The allocation of funding is provided for ongoing expansion highlighting a variety of certification projects worldwide as well as an aggressive sales and marketing campaign.

Markley commented, “We are extremely excited that our investors and financiers take pride in our company and our accomplishments, and recognize the unique team that Liberty employs.”  Markley commented on a more personal level, “I would like to further acknowledge and thank our dedicated and talented work force for maintaining the highest quality and safety standards in the industry today.” 

Mr. Abdulhakeem Alkhayyat and Mr. Keith Markley

About Kuwait Finance House

Kuwait Finance House K.S.C. (“KFH”) is a leading provider of Islamic commercial and investment banking services, an industry leader for more than 30 years and with total assets of over US$21 Billion (as at 31st December 2006). Kuwait Finance House (Bahrain) B.S.C. (c) (“KFH Bahrain”) is a wholly owned subsidiary of KFH and has total assets of over US$1 Billion. The KFH Group recorded profits of US$1.3 Billion for the Year 2006 (before distribution to depositors).  For additional information about Kuwait Finance House, please visit http://www.kfh.bh/.

About Liberty Aerospace, Inc.

Based in Florida’s Space Coast, Liberty Aerospace, Inc. designs and manufactures general aviation aircraft and is the FAA Type 23 Certificate holder for the Liberty XL-2. The XL-2 aircraft is IFR certified and meets the specific requirements of flying schools and clubs while offering the private owner/operator a first-class touring aircraft. Well-known for its carbon fiber fuselage and modular construction, it is the only production aircraft powered by a piston engine equipped with a full authority digital engine control (FADEC), simplifying power management and providing greatly increased levels of safety, reliability and maintainability. These technological advances have allowed Liberty to deliver an aircraft benefiting from incredibly low operating costs, while remaining extremely fun to fly.

Liberty Aerospace Media Contact

Paul Everitt
Business Development Manager
sales@libertyaircraft.com
321-752-0332
100 Aerospace Drive
Melbourne, FL 32901