Cutter Raises its Elevation With New Colorado Facility

August 11, 2006, Phoenix, Arizona — Cutter Aviation announced today that it has acquired Colorado Aviation Inc. of Colorado Springs, CO – a full service business aviation fixed base operation (FBO) at the Colorado Springs Airport (COS).

"Colorado Springs is a strategic acquisition for Cutter Aviation in a key market that expands our family-owned and operated network of FBOs throughout Western United States," said William Cutter, President and Chief Executive Officer, Cutter Aviation.

The operation offers 24-hour comprehensive service, including Phillips Aviation fuels, oxygen service, pilot lounge, snooze room, wireless internet connection, courtesy crew vehicles, gourmet catering and WSI weather. The facility offers over 250,000 square feet of ramp space, tie-down slots for single engine aircraft, 110,000 square feet of individual hangars and a heated main hangar boasting the largest sheltered space for aircraft in Colorado Springs.

"This acquisition represents a unique opportunity to acquire a premier FBO with tremendous potential for growth, in an attractive market." said Cutter. Terms of the agreement between Cutter Aviation and Colorado Aviation Inc. were not disclosed. Possession of the facility by Cutter Aviation will commence immediately.

Founded in 1928, Cutter Aviation is one of the country's first general aviation service companies. With 8 locations in North America, the company offers a full range of fixed base operations, maintenance, aircraft charter, sales and management and operates a full service travel agency. Cutter Aviation is headquartered in Phoenix, Ariz. and remains family-owned and operated after 78 years.