News Release

Zhuhai, China, November 6, 2000 – Gulfstream Aerospace Corporation has signed a memorandum of understanding with Metrojet of Hong Kong to establish a new Gulfstream IV charter service for Asia. Gulfstream will lease a large-cabin, long-range GIV to Metrojet to begin service in the first quarter of 2001.

"Gulfstream recognizes the promise and opportunity for business aviation in Asia," said Bryan Moss, vice chairman of Gulfstream. "With this commitment to Metrojet, Gulfstream will be at the forefront of the growing charter aircraft market in Asia."

Under the terms of the agreement, the GIV will be based and operated in Hong Kong by Metrojet and maintained with Gulfstream support. Gulfstream and Metrojet are working with the Hong Kong Civil Aviation Department on the certification of the GIV in Hong Kong. In addition to charter flights, Gulfstream also will use the aircraft for customer flights to demonstrate the advantages of business aviation throughout Asia.

"The range and comfort of the GIV cabin will be very attractive to the Hong Kong charter market," Mark Turner, managing director of Metrojet, said. "It is an excellent aircraft for serving the Asia customer base and for other customers, such as from North America, seeking a Gulfstream IV for regional and worldwide charter."

As part of the charter agreement, Gulfstream will designate Metrojet as an Authorized Gulfstream Line Service Facility. Metrojet will stock parts for servicing Gulfstream IV and IV-SP aircraft, as well as Gulfstream V’s. Metrojet is the service provider for the Hong Kong Business Aviation Center.

Gulfstream currently produces the GIV-SP, the world's best-selling, most reliable, large-cabin business aircraft. The Gulfstream IV-SP consistently outperforms other large-cabin business aircraft in all regards, including altitude, range, short-field performance and maneuverability. The combination of advanced avionics, aerodynamics and Rolls-Royce Tay power plants ensures outstanding long-range performance and reliability.

The Gulfstream IV-SP’s low-cabin altitude, 100-percent fresh air ventilation system, large oval windows and quiet cabin create the most comfortable cabin environment in its class. Every facet of the Gulfstream IV-SP’s design is optimized to provide a restful or productive work environment for the passengers.

The Gulfstream IV-SP travels 4,220 nautical miles non-stop at speeds up to Mach 0.88 and can cruise at altitudes up to 45,000 feet, well above commercial traffic. Since the aircraft was brought to market in 1985, Gulfstream IVs and Gulfstream IV-SPs have completed over 1.3 million flight hours and 685,000 landings. The Gulfstream IV-SP offers an impressive dispatch reliability of 99.5 percent.