Greenwich AeroGroup Inc. Names Jim Ziegler as President and Chief Executive Officer

Greenwich, CT, June 1, 2009 — Greenwich AeroGroup Inc. today named Jim Ziegler as President and Chief Executive Officer of the company, effective immediately.

Prior to joining Greenwich AeroGroup, Mr. Ziegler was the COO of Jet Aviation, responsible for all North American operations, which included FBO, charter, aircraft management, maintenance and completions businesses. Before then, Mr. Ziegler spent 21 years with Learjet and Bombardier Inc. in various senior executive management roles, including management of Bombardier’s business aircraft service facilities, its Wichita manufacturing operations and new aircraft completions centers. In addition, he was responsible for aftermarket support of all Bombardier business aircraft.

Before joining the company, Mr. Ziegler was an advisor to Greenwich AeroGroup and was instrumental in facilitating its pending acquisition of Banner Aerospace.

“I am extremely excited to join Greenwich AeroGroup,” commented Mr. Ziegler. “They have positioned themselves to be a major player in the aircraft MRO service business with their acquisitions of Atlantic Aero, Western Aircraft, Summit Aviation, and recently announced agreement to acquire Banner Aerospace. The next few years present an enormous opportunity to create a worldwide network to support OEM’s and aircraft operators. I look forward to expanding the business and building a world class team.”

Greenwich AeroGroup is a holding company that owns and operates full service providers of general aviation services including: maintenance and avionics; fixed base operations; aircraft sales, charter and management; interior refurbishment; manufacturing and engineering; and parts distribution. Current locations include: Atlantic Aero, Inc., located at Piedmont-Triad International Airport in Greensboro, NC; Western Aircraft, Inc., located at Gowen Field in Boise, ID; and Summit Aviation, Inc., located at Summit Airport in Middletown, DE. Greenwich AeroGroup recently announced that it has entered into a definitive agreement to acquire the assets of Banner Aerospace Holding Company, Inc. and its aviation subsidiaries.