Airbase Services, Inc.

Effective July 1, 2006, Regent Aerospace Corp., the world leader in Aircraft Interior Refurbishment and Services has purchased the assets of Airbase Services'United States operations. Terms of the purchase were not disclosed. Airbase Services, Inc. will be a division of Regent Aerospace Corp. and continue to operate separately under the Airbase Services name. According to Reza Soltanian, President of Regent Aerospace, the acquisition of Airbase compliments and expands Regents' core business of passenger and crew seat refurbishment, inflatables repair services and will expand our fully automated Cut and Sew capabilities. Additional maintenance services will also include Coffee Makers, Ovens, Chillers, Avionics, Telephony, Line Maintenance, Galley, Lavatory and ULD repairs and support. Regent Aerospace Corp., headquartered in Valencia, CA, offers full repair and refurbishment facilities from its four worldwide locations in Valencia, CA, Indianapolis, IN, Beijing, China and Busan, South Korea. Airbase Services is headquartered in Dallas, TX, with additional repair locations inLos Angeles, CA, Chicago, IL, Newark/New York and Miami, FL.