New name reflects new direction for aviation-pioneering Sino Swearingen Aircraft Corporation

Emirates Investment & Development Company PSC (Emivest), the majority shareholder of Sino Swearingen Aircraft Corporation (SSAC), today unveiled a new company name – Emivest Aerospace Corporation – signaling its latest expansion into the aircraft manufacturing sector.

Members of the new Emivest Aerospace Corporation management team announced the company's strategic direction and new name during a press conference at the National Business Aviation Association 2008 Annual Meeting and Convention in Orlando, Fla.

Emivest Aerospace Corporation, formerly SSAC, is a leading manufacturer of light jet aircraft, a rapidly-growing industry sector.

"Emivest Aerospace Corporation is embarking on a new direction, fueled by the ongoing commercial acceptance of the SJ30, the light jet with the best range and speed in the industry," said Buti Saeed Al Ghandi, Chairman of both Emirates Investment & Development Company PSC and Emivest Aerospace Corporation. "While we have a new name, Emivest Aerospace Corporation will continue to build on our reputation for innovation and high quality in the design, development and manufacture of the world's finest light jet aircraft."

Since 1963 SSAC became the first company in the United States to design and develop, and later build, certify and deliver to the market a totally new concept business jet in the form of the SJ30.

Anthony Power, CEO, Emivest Aerospace Corporation, said, "The projected growth of the business aviation sector is quite strong throughout the world. Emivest Aerospace Corporation is positioned perfectly to capitalize on heightened demand in the light jet sector, and our new name symbolizes our renewed commitment to innovation-driven growth."

"We look forward to embracing these opportunities that lie ahead by bringing the SJ30 to market in large scale production," said Joseph Gullion, COO, Emivest Aerospace Corporation.

Emivest acquired an 80 percent stake in SSAC in June 2008. The re-branding of SSAC to Emivest Aerospace Corporation is effective immediately, and will be reflected in all uses of the corporate brand name.

About the SJ30 The world's fastest, longest range and highest flying light jet, the SJ30 is the first light jet to retain sea level cabin pressure at 41,000 feet and reach a top flying height of 49,000 feet. The SJ30 business is a high performance, single pilot-certified twinjet aircraft with a range of over 2,500 nautical miles and the highest cruise speed in the light jet industry of Mach .83 (486 ktas). Additional information, updates, photos and specifications are available at www.emivestaerospace.com

About Emivest Aerospace Emivest Aerospace, formerly Sino Swearingen Aircraft Company (SSAC), is a U.S.-based aircraft manufacturing company. Headquartered at the San Antonio International Airport (KSAT), the company currently employs approximately 300 staff at its facilities in San Antonio, Texas and Martinsburg, West Virginia. It is a subsidiary of Emirates Investment & Development PSC (Emivest). For more information about Emivest Aerospace, visit www.emivestaerospace.com

About Emirates Investment & Development PSC Established in 1997 to capitalise on the phenomenal growth of Dubai, Emirates Investment & Development Company PSC (Emivest) is a diversified multi-disciplinary, private shareholding equity investment company that actively targets new investment sectors to apply its unique business model. Working on the basic tenet of 'Promoting Growth and Partnership Success', Emivest has built an enviable track record over the last decade which has seen it mature into one of the foremost investment companies of its kind. Emivest invests in the manufacturing, financial, service, aviation, telecom, construction, real estate, food and beverage.