Press Release 12/16/2011

RESTON, VA – On Monday December 12, 2011, American Society of Appraisers’ member Ken Dufour, ASA, premiered on the History Channel’s popular television show American Pickers as an expert aviation appraiser.

Featured on the show was a 1920s Health-Henderson engine used in early aircraft kits. The American Pickers, who purchased the engine for $600, asked Dufour for the market value. Ken Dufour, Accredited Senior Appraiser with the American Society of Appraisers, is one of the few appraisers in the United States qualified to provide this type of appraisal.

In a recent interview Dufour explained the behind-the-scenes preparation. His meticulous research was based upon a comprehensive team approach that is common for ASA appraisers. In preparation for his 2-to -3 minute appearance on the popular TV show, he spent about half a day contacting colleagues and studying up on the history and recent sale data for the rare Heath-Henderson B-4 engine.

The engine, said Dufour, was corroded, and missing parts. It needed restoration. While a Heath-Henderson engine in far better condition sold recently for $7,000 at auction, Dufour appraised the Pickers’ engine at about $2,500.

Far from just a guess, Dufour’s appraisal was based upon recent sale data of an exact same engine, research on its history, and the condition of the engine.

About the American Society of Appraisers

The American Society of Appraisers is an international organization of appraisal professionals and others dedicated to the education, development and growth of the appraisal profession. More than 2,000 of its 5,000 members are business valuation appraisers. ASA is the oldest and only major organization representing ALL disciplines of appraisal specialists, originating in 1936 and incorporating in 1952. ASA’s headquarters is in the metropolitan Washington, DC area.

When you hire an ASA-accredited appraiser, you are assured the best valuation
expertise on the market, because ASA-accredited appraisers bring knowledge of
the market and profession, experience, and solid reputation to the job.

Knowledge and Experience

Each accredited member of the American Society of Appraisers has earned a
professional designation in one or more specialized areas of appraisal. To
receive the accreditation, the appraiser must pass intensive written examinations,
submit representative appraisal reports for peer review and be screened for his
or her ethical behavior. Every accredited appraiser must start his or her ASA
membership as a Candidate member. In order to be accepted for Candidate
membership, the prospective Candidate must be interviewed and approved by
his or her local chapter. Subsequently, each Candidate must pass ASA’s Ethics
Examination and an examination on the Uniform Standards of Professional
Appraisal Practice (USPAP) within a specified period of time. (The Uniform
Standards are published each year by The Appraisal Foundation, authorized by
Congress as the source of appraisal standards and appraiser qualifications.)
The Candidate’s technical appraisal proficiency and understanding of the
fundamentals of appraisal ethics, principles and concepts are evaluated by
intensive written and oral examinations. Copies of the Candidate’s appraisal
reports are reviewed and must meet professional criteria. When the Candidate
has met all these requirements and has gained the necessary experience, he or
she may apply for advancement to Accredited Member or Accredited Senior
Appraiser status. To qualify for the Accredited Member designation (AM), an
individual must have at least two years of full-time equivalent appraisal
experience and a college degree or its equivalent. To qualify for the Accredited
Senior Appraiser designation (ASA), an individual must have a minimum of 5
years of full-time equivalent appraisal experience and a college degree or its
equivalent. To achieve the Fellow designation (FASA), an Accredited Senior
Appraiser must be recognized by ASA’s International Board of Governors for
outstanding services to the appraisal profession and/or the society. ASA has a
mandatory reaccredidation process whereby designated members must regularly
submit evidence of professional growth through participation in professional
activities and continuing education. This ensures that ASA appraisers keep their
knowledge up-to-date.

A Solid Reputation

Each individual seeking accreditation from the American Society of Appraisers
must furnish professional and personal references and be subject to local credit
and background investigations. In addition, local chapters conduct personal
interviews and evaluate the practices of all applicants.

One of ASA’s primary objectives is to ensure ethical practices and procedures on
the part of its members. The society is diligent in its efforts to strengthen and
uphold the Principles of Appraisal Practice and Code of Ethics (the code of
conduct to which all members must subscribe) in order to protect the client. ASA
has developed a mechanism for the enforcement of the Code of Ethics whereby
clients may file written complaints directly with the International Headquarters of
the American Society of Appraisers if they feel that an appraisal rendered by an
ASA member violates sound professional practice. ASA has permanent internal
procedures for processing all documented grievances, assuring due process.
Sanctions against members, if found to be in violation of the Code of Ethics,
range from censure to expulsion with loss of professional designation.

The Valuation Expertise You Need

In short, ASA-accredited appraisers are experts. The meticulous ASA
accreditation process ensures that ASA-accredited appraisers are accurate,
impartial, and credible. They are educated and experienced in their fields and are
respected members of their communities. They can deliver independent
valuations that assure your property is appraised at its fair market value.

Don’t Hesitate To Ask for Credentials

The appraiser you select should possess relevant experience, education, skill,
and integrity. The professional will be pleased to answer any questions in
reference to his or her qualifications.

In reviewing an appraiser’s credentials, remember that an accreditation in
appraising issued by a major teaching/testing/accrediting appraisal society is a
strong indicator of ability. It is important to note that a major appraisal
organization such as the American Society of Appraisers requires strict
adherence to its Principles of Appraisal Practice and Code of Ethics and to
USPAP.

ASA’s Principles of Appraisal Practice and Code of Ethics are closely monitored;
all members of ASA are required to conduct their appraisal practice in
conformance with the highest ethical and professional criteria defined therein.

Additionally, to ensure that competent, relevant, current valuation counsel is
available to the public, ASA requires Accredited Senior Appraisers to reaccredit.
This mandatory program emphasizes professional participation in a continuing
education process. The program interfaces with the society’s Principles of
Valuation Sciences Degree Programs and ASA’s examination procedures.

What Questions Should I Ask When Interviewing an Appraiser?

1. What is your general appraisal and educational background?
2. What specific experience do you have with the kind of property I wish to
have appraised?
3. Are you a member of a professional appraisal society? Does that society
teach, test, and accredit?
4. Do you hold a special designation issued by an appraisal society?
5. Is that designation based on successfully completing written
examinations?
6. How long ago did you take the examinations?
7. What continuing education have you undertaken to keep up-to-date in the
field?
8. Has the appraisal society you belong to adopted a mandatory
reaccredidation program to ensure that your education and knowledge are
current?
9. What do you charge for your services, and how do you base your fee?
10. Are you required by your appraisal society to adhere to the Uniform
Standards of Professional Appraisal Practice (USPAP)?

About ASA

The American Society of Appraisers (ASA) is an international valuation
association that teaches tests, accredits, and refers professional appraisers.
ASA is the oldest and only major organization in the United States representing
all disciplines of appraisal specialists, originating in 1936 and incorporating in
1952. ASA’s headquarters is located in the metropolitan Washington, D.C., area.
To locate an accredited ASA appraiser, go online to www.apprasers.org (and
click on Find an Appraisal Expert) or call (800) 272-8258.

FORECASTED AND RESIDUAL VALUES are some of the vital elements that are used
to determine lease rates, residual commitments and premiums, tax considerations, loan
collateral, and define the worth of an investment portfolio now and in the future.

THE TIME HONORED AND PROVEN AMC\VALUE$’ VALUATION PROCESS involves
taking the base value of the aircraft series and adjusting it up or down depending upon
the airplane’s condition, overhaul status (as adjusted from half-life), equipment,
modifications and upgrades (which are existing or eligible), along with other plus or
minus factors. These same services and procedures are applied to the inspection of
engines, spares, inventories, support equipment and facilities.

LITIGATION PREPARATION SUPPORT AND EXPERT TESTIMONY: AMC\VALUE$
Staff will assist litigating parties in the preparation of their cases. We can prepare
detailed analysis and clarification of the facts, which are thoroughly documented. We
provide supporting expert testimony. Areas that often require our involvement include:
marketability, value (past, current & future), use, taxes, repair costs, and condition.

AMC\VALUE$ PROVIDES Appraisals/Valuations under the guidelines of
Uniform Standards of Professional Appraisal Practice (USPAP). AMC\VALUE$
Appraisals/Valuations have become the accepted standard within the
aerospace/financial community.

Members: American Society of Appraisers

Kenneth M. Dufour, ASA
Accredited Senior Appraiser
President/CEO

Leo Heidemann, ASA
Accredited Senior Appraiser
(Consultant)

• To obtain a professional independent valuation of the current Market value of an
  aircraft/asset
• To obtain a professional independent valuation of an aircraft to be upgraded
• A professional opinion of the value of an aircraft is useful as a prudent safeguard
  against excessive Tax Assessments, Capital Gains and other taxes
• Appraisals are used to verify Damage Claims resulting from fire, hail, windstorms,
  moving/non-moving incidents, and other natural/manmade disaster
• An appraisal may provide the basis for decision-making in the commitment of funds
  for acquisition/sale
• Provides documented independent evidence of the condition of an aircraft or aviation
  asset
• Helps verify the selling or purchase price of an aircraft
• Assist a prospective purchaser in obtaining financing/leasing or insurance
• Assist the financial institutions by substantiating the current/future market values of
  the aircraft as it relates to collateral
• Assist the financial institution by supporting the Loan Portfolio for examination by the
  Loan Committee and/or Bank Examiner
• Establish value to be used by IRS for charitable contributions/donations
• What will a professional aircraft appraisal cost? Cost will vary contingent upon the
  type aircraft/asset to be appraised. Enclosed you will find a fee schedule

The Banker, the appraisal documents the value and condition of the aircraft. The
appraisal also supports the banks collateral position in the aircraft loan.

The Seller, the appraisal gives them the confidence of knowing the current fair
market value of their aircraft.

The Buyer, the aircraft appraisal is an impartial independent professional opinion as
to the value of the particular aircraft they are planning to purchase. Further, the
appraisal can assist in expediting the sale of the aircraft because the buyer and seller
know the market value and relative condition of the aircraft through the independent
professional appraisal.

ANATOMY OF AN APPRAISAL: Is an impartial/independent opinion of the value of an
aircraft, prepared by ASA certified professionals who know all the factors, which make
up the current behavior of the new/used aircraft market. It is an opinion of the value
based upon experience and repeated analysis of these factors. It is an opinion of value,
which can be substantiated and justified by specific valuation methodology.

The Professional Aircraft Appraiser (certified by the American Society of Appraisers)
must acquire all the facts about the aircraft to be appraised. The appraiser thoroughly
examines the aircraft logbooks, inspects the exterior and interior of the aircraft and pays
close attention to the current condition and maintenance history of the subject aircraft.

AVIATION MANAGEMENT CONSULTING, INC. WILL ASSURE THE BEST POSSIBLE DATA BY
PROVIDING THE FOLLOWING SERVICES:

• Detailed physical review of the aircraft
• Careful review of aircraft documentation including log books and maintenance
  records
• Analysis of relevant aircraft data
• Determine and assess the current market value of the aircraft
• Develop Residual Forecast and Future Value Analysis

AMC\VALUE$ has appraised thousands of aircraft on an individual and fleet basis. In
addition to the appraisal of Air Transport, Regional and Business/Corporate Aircraft, we
also specialize in operational, safety and security reviews.

We conduct a detailed analysis of the aircraft’s specifications during the appraisal
process, followed by an on-site inspection, including a detailed valuation of the actual
asset, inspection of the operator’s facilities, a thorough review of maintenance and
associated historical records. After inspection, our technical and financial analyst take
the base value of the aircraft series and adjust it upward or downward, depending upon
the aircraft’s condition, maintenance/overhaul status, equipment, modifications and
upgrades. To calculate the value of each of these factors, our staff applies precise
formulas developed by AMC\VALUE$ own appraisal and technical experts. The end
result is the most accurate appraisals and forecasted values that can be scientifically
achieved and are further supported by what has been traditionally the most accurate,
subjective analysis.

Forecasted and residual values are vital elements in determining lease rates, residual
insurance commitments and premiums, tax considerations, loan collateral and the worth
of an investment portfolio, now or at some future date. Appraisals and Forecasting is
our niche in the Aviation and Financial Community.

Our reputation for sound professional American Society of Appraisers practices and
ethical conduct precedes us and many lenders and lessors will not complete the
transaction unless AMC\VALUE$ performs the appraisal.

Integrity involves amongst other things the questions of both the reality and the
appearance of conflicts. In order to avoid either, AMC\VALUE$ maintains its
independent ownership with no interrelation or affiliations with Brokers, Dealers,
Investment Bankers, Leasing Companies, Airlines, Manufacturers or other parties who
would have a direct, indirect or otherwise vested interest in any service we provide or
our reports; our current or future values; or our impact on values in the marketplace in
general. It is this commitment to independent services that will continue to assure you
of the integrity of our services and products.

We invite you to spend a few moments and review this brief but thorough description of
some of the services we offer, and feel free to call us for any questions on your
immediate or future needs.

For an accurate appraisal/valuation of your aircraft, equipment or operation,
contact: Kenneth M. Dufour, ASA (Accredited Senior Appraiser), President/CEO
or Leo Heidemann, ASA (Accredited Senior Appraiser), (Consultant). Both are
members of the American Society of Appraisers.

Origin and History of USPAP

The Appraisal Foundation bases these Standards on the original Uniform Standards of
Professional Appraisal Practice developed in 1986-87 by the Ad Hoc Committee on Uniform
Standards and copyrighted in 1987. Prior to the establishment of the ASB in 1989, USPAP had
been adopted by major appraisal organizations in North America and had become recognized as
the generally accepted standards of appraisal practice.

At its organizational meeting on January 30, 1989, the ASB unanimously approved and adopted
the original USPAP as the initial appraisal standards promulgated by the ASB. USPAP may be
altered, amended, interpreted, supplemented, or repealed by the ASB after exposure to the
appraisal profession, users of appraisal services, and the public in accordance with established
rules of procedure.

The purpose of these Standards is to establish requirements for professional appraisal practice,
which includes appraisal, appraisal review, and consulting, as defined. The intent of these
Standards is to promote and maintain a high level of public trust in professional appraisal
practice.

These Standards are for appraisers and users of appraisal services. To maintain a high level of
professional practice, appraisers observe these Standards. However, these Standards do not in
themselves establish which individuals or assignments must comply; neither The Appraisal
Foundation nor its Appraisal Standards Board is a government entity with the power to make,
judge, or enforce law. Individuals comply with these Standards either by choice or by
requirement placed upon the, or upon the service they provide, by law, regulation, or agreement
with the client or intended users to comply.

It is essential that professional appraisers develop and communicate their analyses, opinions,
and conclusions to intended users of their services in a manner that is meaningful and not
misleading. This Uniform Standards of Professional Appraisal Practice (USPAP) reflects the
current standards of the appraisal profession.

The importance of the role of the appraiser places ethical obligations on those who serve in this
capacity. These Standards include explanatory Comments and begin with an ETHICS RULE
setting forth the requirements for integrity, impartiality, objectivity, independent judgment, and
ethical conduct. In addition, these Standards include a COMPETENCY RULE that places an
immediate responsibility on the appraiser prior to acceptance of an assignment as well as during
the performance of an assignment. DEFINITIONS applicable to these Standards are also
included. The Standards contain binding requirements.

As the vocation of property appraisal has developed during past decades from a business
occupation into a professional, certain concepts have emerged and become clear. The word
“property” is now given to physical things and also to the legal rights of ownership of tangible or
intangible entities. Appraising is now considered to encompass three classes of operations,
namely,

1. The estimation of the cost of producing or replacing physical property.
2. The forecasting of the monetary earning power of certain classes of property.
3. The valuation or determination of the worth of property.

Because of the specialized knowledge and abilities required of the appraiser which are not
possessed by the layman, there has now come to be established a fiduciary relationship between
him and those who rely upon his findings.

The American Society of Appraisers occupies a unique position among professional appraisal
societies in that it recognizes and is concerned with all classes of property: real, personal,
tangible, and intangible, including real estate, machinery and equipment, buildings and other
structures, furnishings, works of art, natural resources, public utilities, gems and jewelry,
investment securities, and so forth. It is also unique in that it recognizes the threefold character
of the appraisal function.

In recognizing the need for the highest professional competence among appraisers, the American
Society of Appraisers actively supports recognized institutions of higher learning in their
scholastic programs, which are designed to provide the necessary academic background to both
appraiser aspirants and to the qualified professionals who desire to update and broaden their
professional skills.

The necessity for a set of authoritative principles and a code of professional ethics, broad enough
to cover all classes of property as well as the complexities of the various appraisal procedures, is
a pressing one. Previous statements of principles have dealt almost exclusively with real estate.
Existing codes of ethics are, in large measure, couched in such general moralistic terms that they
are impractical for specific application.

Violation of any provision or rule of the Code should not give rise to a civil cause of action and
should not create any presumption or evidence that a legal duty has been breached nor should it
create any special relationship between the appraiser or any other person. This Code is
designed to provide guidance to appraisers and to provide a structure for regulating conduct of
members of the ASA through disciplinary actions. Violations of the Code are not designed or
intended to be the basis of any civil liability. (January 1990)

To meet the need for a comprehensive set of guideposts and for a specific code of ethics, the
Society has prepared and presents herewith The Principles of Appraisal Practice and Code of
Ethics of the American Society of Appraisers.

American Society of Appraisers
Authorized June 30, 1968
Revised December 1995

In deference to a client’s right to privacy, Aviation Management Consulting, Inc. does not provide
detailed list of its clients in broadly distributed reports. However, listed below are companies in
which we have performed consulting services/valuations.

When a prospective client requests references with respect to prior work accomplishment,
Aviation Management Consulting, Inc. responds as follows. Clients for whom work of a similar
nature has been accomplished are contacted for authorization to refer the prospective client to
the prior client.

The same basic procedure is followed when a prospective client requests that one or more
references as to prior work accomplishment are to be included in a formal proposal.

It can be stated that Aviation Management Consulting, Inc. and its alliance companies have
engaged in almost continuous aviation-related studies, aerospace valuations, consulting
domestically and international, and for more than thirty years.

Air Fleet Capital
American Bank
American Society of Appraisers
Banc of America Leasing, Inc
Bank Boston
Boeing
Boeing Business Jets
Bombardier Aerospace
Bombardier Flexjet
CIBC World Markets
Citi Bank
Daimler Benz Aerospace
Dassault Falcon Jet
Delta Airlines
Eaglemark
Emery Air Charter
Finova
First Union Bank
Global Crossings
Great State of South Carolina (Tax Assessor’s Office)
H.I.G. Capital
American Airlines
American National Bank
Aviation Partners
Apple
Aviation Finance Group
Boeing Capital
Bombardier Capital
Cessna Aircraft
CIT
Debis
Diamond Financial
Embry-Riddle Aeronautical University
Fifth Third Leasing
GE Capital
GE Corporate
Key Bank
Flight Options
Chase Equipment Leasing
H.I.G. Bayside Capital
Green Tree
Honeywell
Intel
Jetcraft
Key Bank
Northern Trust
RBS Asset Finance
Sovereign Bank
US Bancorp
Nike
General Motors
Henry Ford Museum
Jet Support Services Inc.
Key Equipment Finance
National Aircraft Finance Company
Smithsonian Institution
SunTrust Equip. Finance & Leasing Corp.
Wachovia Capital
Google
XOJet, Inc.
PNC Bank
AirNet Systems, Inc.
U.S. Department of Interior

Mr. Rudy Tenore
Vice President
Banc of America Leasing
(401) 278-7181

Mr. Louis Seno
President/CEO
JSSI
(312) 494-8606

Mr. Rick Larsen
Vice President Marketing
Experiment Aircraft Assoc.
(920) 426-6834

Mr. Cliff Wheeler
Vice President/Equipment Manager
Wells Fargo Equipment Finance, Inc.
(801) 246-3053

Mr. Bernard Funk
Senior Vice President
Key Equipment Finance
(518) 369-5125

Mr. John Rosanvallon
President/CEO
Dassault Falcon Jet
(201) 541-4450

Mr. Eric Schmidt
Chairman
Google
(650) 623-4145

Mr. Art Doering
Senior Vice President/Asset Mgmt
RBS Citizens Asset Finance
(312) 777-3522

Mr. Kevin R. Buckland
President
National Aircraft Finance Company
(800) 446-2155

Mr. Rick Dusek
Vice President
SunTrust Equip. Finance & Leasing Corp.
(410) 307-6624

Mr. Paul Wride
Vice President
Bank of America Leasing
(847) 458-0013