GAMA RELEASES FIRST QUARTER SHIPMENTS

Yesterday, the General Aviation Manufacturers Association (GAMA) announced first quarter shipment and billings figures. Total industry billings were up 16.1 percent to $5.3 billion, an all-time high for the first quarter, while total shipments were down by 7.5 percent."This past quarter's overall industry billings remain impressive, with the turbine segments showing dramatic increases. The trend of increasing market share occurring outside of North America continues for most manufacturers. It is apparent, however, that current uncertainty in the U.S. economy is having an affect on some of the offerings in the piston spectrum of aircraft,” said Pete Bunce, GAMA president and CEO. “Last year, 67 percent of piston deliveries were to the North American market, making this segment the most susceptible to softness in the U.S. economy. However, as worldwide markets continue to expand, we see more capability to insulate manufacturers from the economic dynamics of any one specific region."Piston-powered airplane shipments totaled 399 units compared to 554 units delivered in the first quarter of 2007, a 28.0 percent decrease. Turboprop shipments increased from 79 units in the first quarter last year to 85 units in 2008. Business jet shipments totaled 297 units in the first quarter of 2008, a remarkable 40.8 percent increase over the 211 units delivered in the first quarter of 2007. FIRST QUARTER SHIPMENTS OF AIRPLANES MANUFACTURED WORLDWIDE

Aircraft Category	2007	2008	CHANGE
Pistons	554	399	-28.0%
Turboprops	79	85	+7.6%
Business Jets	211	297	+40.8%
Total Shipments	844	781	-7.5%

GAMA is an international trade association headquartered in Washington, DC representing over 60 of the world's leading manufacturers of general aviation aircraft, engines, avionics and related equipment. GAMA's members also operate fleets of aircraft, fixed based operations, and pilot training and maintenance training facilities. For additional information, visit GAMA’s website at http://www.gama.aero/.