Renowned Aircraft Manufacturer to Locate in South Georgia

VALDOSTA, Ga., Nov. 1 /PRNewswire/ -- Tiger Aircraft has landed inValdosta, where new owners True Flight Aerospace, Inc. will locate a corporateheadquarters and manufacturing facility. The company is expected to create 150jobs over three years and invest $3.8 million.

Georgia's aerospace industry has gotten even stronger with this greatcommitment from True Flight," said Governor Sonny Perdue . "This year ourstate is celebrating 100 years of aviation and I am proud to welcome the newmanufacturer of Tiger Aircraft to our state."

True Flight plans to build a 60,000 square foot facility on a 13-acretract adjacent to the Valdosta Airport. The company plans to initially hire 25employees, reaching full employment of 150 within three years and expects tooffer salaries that are considerably higher than the average for LowndesCounty. Company officials have estimated average hourly wages to exceed $20per hour.

"Locating in Valdosta will allow us to produce a new state of the artaircraft based on the Grumman Tiger at competitive costs while maintaining thequality that our customers prize," said Kevin Lancaster , CEO of True Flight."We look forward to becoming a good corporate citizen in Lowndes County."

Michelle Shaw was project manager for Georgia Department of EconomicDevelopment.

"We are so proud to have True Flight locate in Valdosta," said BradLofton , Executive Director of the Valdosta-Lowndes County IndustrialAuthority. "The state, the Valdosta-Lowndes County Airport Authority, the Cityof Valdosta, Lowndes County, and the Industrial Authority were all flyingtogether in formation to land another targeted high tech, high wage industry."

True Flight Holdings LLC is a privately-held Georgia company that recentlyacquired Tiger Aircraft, LLC and the rights to the original Grumman designsincluding the updated AG-5B Tiger, a sporty single-engine model. True FlightHoldings, LLC also obtained the type certificates and rights to manufacturefour models of related aircraft. True Flight Aerospace, LLC will build theaircraft under license.

The announcement is scheduled for November 1, 2007 at 2:00 pm at theGeneral Aviation Terminal in Valdosta.

SOURCE True Flight Holdings LLC