Standard Aero signs Long Term RE220 Auxiliary Power Units MRO Contract with GoJet Airlines

Maryville, TN June 21, 2005 – Standard Aero, today announced the signing of an exclusive contract with GoJet Airlines of St. Louis, Missouri to service their fleet of RE220 Auxiliary Power Units (APU) on their fleet of CRJ-700 Regional Jets. The initial maintenance deal is worth over $5 Million USD over its 15 year term. The agreement also provides the ability to add APUs from new aircraft should GoJet elect to exercise any of their 40 CRJ 700 options.

“Following our recent partnership with GoJet Airlines on comprehensive CF-34 Engine Maintenance, we are very pleased that GoJet has elected to place its trust in Standard Aero for their RE220 maintenance needs”, commented Paul Soubry, President of Standard Aero’s AeroEngine Services Division.

Greg Young, Vice-President and General Manager of the Standard Aero Maryville facility added, “SA continues to grow our Regional Airline business by establishing valuable long term relationships such as this. We remain committed toward continuously improving our service offering range, quality, performance and value in all that we do to support GoJet.”

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 established capability and first article inspection on the RE220 early this year. The Federal Aviation Authority (FAA) in the United States and other regulatory authorities recognized this product certification in March 2005. The work will be performed in Standard Aero’s 121,000-sq. ft. turbine engine MRO facility located in Knoxville, Tennessee. GoJet Airlines joins a growing list of successful Regional Airlines who have entered into APU MRO agreements with Standard Aero. The addition of the RE220 for the CRJ 700/900 family compliments the service Standard Aero provides CRJ200 operators with comprehensive 36-150RJ APU MRO.

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.