ALBUQUERQUE, NM - September 23, 2008 - Today Eclipse Aviation®, manufacturer of the world's first very light jet (VLJ), announced that the Russian State Bank Vnesheconombank (VEB) Supervisory Board, chaired by Russian Prime Minister Vladimir Putin, has approved the construction of a factory in Ulyanovsk, Russia to assemble the Eclipse 500 Jet®.

VEB announced that it expects to finance the project in full, with a total value of $205 million. VEB and the Ulyanovsk region administration will be among the shareholders of the enterprise.

Eclipse Aviation has already confirmed that export of the Eclipse 500 Jet components to Russia complies with United States and Canadian export regulations.

 Production in the factory located at the Ulyanovsk-Vostochny International Airport is expected to begin in 2010. The factory's ultimate capacity is projected to be 800 jets a year. Production at Eclipse's headquarters in Albuquerque will continue in full prior to and following the start of the Russian facility's operations.

European Technology and Investment Research Center (ETIRC) Aviation is the exclusive provider of sales, customer service, maintenance support and flight training for the Eclipse 500 in the countries of Western and Eastern Europe, the Russian Federation, the Commonwealth of Independent States and the Republic of Turkey. A key element of the partnership between Eclipse and ETIRC Aviation grants ETIRC Aviation the right to establish local assembly of the Eclipse 500 within its region.

About Eclipse:

Eclipse Aviation is the world's leading very light jet (VLJ) manufacturer, producing innovative, affordable jets that are revolutionizing air transportation. The company created the VLJ category with the design, certification and delivery of the Eclipse 500® - the industry's first VLJ. Eclipse applies advances in technology, manufacturing processes and business practices to create high-performance aircraft that provide the lowest cost of jet ownership ever achieved. By changing the value proposition for private jet travel, Eclipse is allowing more pilots to enter the world of jet-powered aviation and enabling a new generation of entrepreneurs to help business travelers move between cities on a quick, affordable and convenient basis. Contact Eclipse at http://www.eclipseaviation.com

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