Standard Aero signs Long Term CF34 MRO Contract with GoJet Airlines

Winnipeg, MB, June 20, 2005 – Standard Aero, a General Electric Authorized CF34™ Service Provider today announced the signing of an exclusive contract with GoJet Airlines of St. Louis, Missouri to service their fleet of CF34-8C5B1 engines powering their new CRJ-700 Regional Jets. The initial engine maintenance deal is worth approximately $70 Million USD over its 15 year term. The agreement also provides the ability to add engines from new aircraft should GoJet elect to exercise any of their 40 CRJ 700 options.

“We are extremely excited by this expansion of our partnership with GoJet Airlines and proud they have placed confidence in Standard Aero to be their engine maintenance provider”, commented Paul Soubry, President of Standard Aero’s AeroEngine Services Division. He added, “GoJet’s commitment to strive to do their best for the customer each day and to remain flexible and responsive fits perfectly with Standard Aero’s commitment to its customers”.

“Standard Aero provides a flexible approach to our CF34 maintenance requirements, which enables us to focus on meeting our long-term needs,” said Richard Leach, president of Trans States Holdings who was recently named Regional Airline Executive of the Year by Regional Aviation News.

Trans States Holdings established GoJet Airlines in late 2004 as a United Express carrier. GoJet Airlines will operate as United Express from Chicago O’Hare, Denver and Washington Dulles airports beginning August 1, 2005. The initial fleet will consist of two 66-seat Bombardier CRJ700 regional jets and expand to ten aircraft by December 2005.

Standard Aero secured authorization to provide maintenance for the CF34 from General Electric in September of 2001 and a dedicated facility was erected and certified by July 2002. Standard Aero has received regulatory approval from Transport Canada to repair and overhaul all models of the CF34 –1, -3, and –8 engines. This authorization is recognized by the Federal Aviation Authority (FAA) in the United States and other regulatory authorities worldwide. GoJet Airlines joins a growing list of successful Regional Airlines who have entered into CF34 MRO agreements with Standard Aero.

Standard Aero is a world leader in providing aerospace Maintenance Repair and Overhaul services. Standard Aero performs repair and overhaul on Rolls-Royce, Pratt & Whitney Canada, Honeywell, and General Electric engines used in regional airlines, business aviation, military, and government aircraft. Standard Aero is a recognized leader in business process redesign in the aviation MRO market, providing the tools, training and implementation to drive profitable growth and dramatically improve business performance including increased throughput and reduced costs.

Information in this release may involve guidance, expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Standard Aero Holdings, Inc. as of the date of the release, and Standard Aero Holdings, Inc. assumes no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance and actual results could differ materially from current expectations. Numerous factors could cause or contribute to such differences, many of which are beyond the company’s control.