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FOR IMMEDIATE RELEASE

Flying Colours Delivers the First Phoenix CRJ

Peterborough, ON, Canada, August 31, 2009 – Flying Colours Corp., a global leader in aircraft completions and maintenance recently delivered the first Phoenix CRJ, SN: 7211 to Dubai based Project Phoenix. This aircraft will be managed and operated by Macau based Jet Asia.

The Phoenix CRJ was outfitted with a luxuriously appointed custom designed interior and Flying Colours Auxiliary fuel tanks giving the Phoenix CRJ a range in excess of 3000 nm.

“The delivery of this well appointed aircraft is a tribute to our skilled team of technicians and engineers” stated John Gillespie, President, Flying Colours Corp.” “We look forward to continuing to strengthen our relationship with the entire Project Phoenix team on additional Phoenix CRJ’s in the near future.” Gillespie further stated.

“The aircraft is everything we expected it to be and the initial feedback from both our customer and operator is very positive” stated Project Phoenix President, Mike Cappuccitti. “A job well done to the entire Flying Colours team”

The delivery of the first Phoenix CRJ marks the sixth CRJ VIP conversion completed by Flying Colours and it sister company JetCorp Technical Services over the last two years. With additional conversions in progress and discussions ongoing with other potential conversion clients Flying Colours anticipates further demand for this level of conversion for the foreseeable future.