Conrado Dornier, grandson of Dornier Aircraft founder Claude Dornier, announced today the formation of the Dornier Seaplane Company, which wil manufacture, sell and support the SEASTAR in the United States.

The Company is independent of all other Dornier Aircraft businesses and is wholly owned by the Dornier family. The Company has invested over $150M in the SEASTAR program and has obtained FAA Part 23 and EASA certif ication for the aircraft.

The German engineered, US manufactured SEASTAR is an all composite aircraft featuring two Pratt & Whitney PT6-135A engines mounted in-line above the wing. The large 348 cubic ft cabin seats 2 crew and 6 passengers and has a lavatory in an executive configuration. Up to 2 crew and 12 passengers can be accommodated in the commuter version. The large baggage compartment is fully accessible in fl ght. The SEASTAR cruises at 180 knots and is 40 to 60 knots faster than typical turbine floatplanes.

"I am proud to continue the legacy of my grandfather and my father - Dornier has built more than 1,000 seaplanes over the last 100 years" says Chairman Conrado Dornier "I am very excited to bring this unique product to the United States market and to launch our new company here at NBAA in Orlando." The certified demonstrator is at the NBAA Static Display after flying over from Germany last week.

Dornier Seaplane Company's CEO Joe Walker heads an industry leading management team. "The composite airframe, the in-line twin engine configuration, speed and cabin size provide for an outstanding value to the customer. The SEASTAR resets the standard in an unserved market niche." he said.

Target markets for the highly versatile aircraft include private owners, commercial operators as well as government agencies. There are currently 4,500 seaplanes in service worldwide today of which more than 500 are turbine powered. The company expects to deliver 300 to 500 SEASTARS over a 10 year period.

The SEASTAR's all composite airframe is corrosion free, leak proof, the only practical solution in salt water environments and can operate in higher wind and waves than float-modified landplanes. Additionally, the in-line twin engine configuration provides an extra margin of safety during take-off over and above any other single or twin engine seaplane.

The factory site search has been narrowed to the Southeast US and the final site selection will be made by Q1 of 2009. The Company will generate over $300M annually in revenue and create 400-500 jobs at its full production rate of 48 aircraft per year.

The aircraft price for the first two years of production will be $5.5M in 2008 USD and $6.0M in 2008 USD thereafter. All sales will be factory direct and discussions with product support vendors are ongoing.

Effective immediately, the Company is taking deposits for delivery positions. Dornier's board of directors will vote on the formal production launch in the spring of 2009.