AirNet Systems, Inc. Shareholders Adopt Agreement and Plan of Merger

COLUMBUS, Ohio , June 4 /PRNewswire-FirstCall/ -- AirNet Systems, Inc. (Amex: ANS) announced that its shareholders voted to approve the proposal to adopt the Agreement and Plan of Merger, dated as of March 31, 2008 (the "merger agreement"), by and among AirNet, AirNet Holdings, Inc., and AirNet Acquisition, Inc. and to approve the merger contemplated thereby, at the Special Meeting of Shareholders held today.

Approximately 72.5% of the outstanding common shares were voted in favor of the proposal (approximately 97.5% of the common shares voted at the Special Meeting). Under the terms of the merger agreement, each holder of AirNet's common shares will receive $2.81 per share in cash. The closing is not subject to any financing contingencies and is expected to occur in early June. Following completion of the merger, AirNet's common shares will cease trading on the American Stock Exchange.

AirNet Systems, Inc.

AirNet Systems, Inc. focuses its resources on providing value-added, time-critical aviation services to a diverse set of customers in the most service-intensive, cost-effective manner possible. AirNet operates an integrated national transportation network that provides expedited transportation services to banks and time-critical small package shippers nationwide. AirNet's aircraft are located strategically throughout the United States . To find out more, visit AirNet's website at www.airnet.com .

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