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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW)

VEEV 240.86

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Nov 26 3:59 PM EST

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To: Stock Watcher who wrote (14512)	11/22/1999 10:17:00 AM
From: Currency	Read Replies (1) of 52051

CASG - GIGANTIC NEWS JUST OUT! $100M+ IN CONTRACTS (PR NEWSWIRE) Canadian Aerospace Group Contracts for US $103.5 million in Canadian Aerospace Group Contracts for US $103.5 million in Panda Sales/Investment in Brazil BURLINGTON, ON, Nov. 22 /CNW-PRN/ - Canadian Aerospace Group International Inc. (CASG OTC BB) announces the completion of two significant contracts. One for the sale of 30 Twin Panda Aircraft worth US $94.5 million and the second for an equity investment totaling US $9 million by Fernani Trade Lease and Finance Corporation of the British Virgin Islands. The Fernani Group is a private Lease and Finance company focused on long-term investment in emerging international companies. The thirty Twin Pandas are scheduled for delivery to the Air Group du Brazil. This sale represents a doubling of the initial order for 15 Aircraft announced in June this year. The Pandas will be used in a new business venture for charter and cargo operations throughout Brazil. Director of the Air Group du Brazil, Mr. Jurandir Brito de Frietas, stated that ``despite the competition, the Twin Panda clearly represents the best choice. It is most ideally suited to the requirements for our new operations'. Deposits for the aircraft commence the spring of 2000, with the first Twin Panda delivery to Air Group to begin in January 2001. The programme involves acceptance of one Twin Panda Aircraft per month for the first eighteen months, and two aircraft per month, for the subsequent six-month period. The Equity Investment is a US $9 million for warrants to be converted into preferred shares in CASG on the date of the final aircraft delivery to Air Group du Brazil. This will occur in twenty-three monthly installments of US $400,000 per month commencing in March 2000. The Chairman of Canadian Aerospace Group, Mr. Joseph Rotolo, who was on hand in Sao Paolo for the final negotiations and contract signing states that ``the contracts are another significant milestone for the Canadian Aerospace Group. It confirms that CASG is attractive not only for its products, but also as a long-term investment.' SOURCE Canadian Aerospace Group International Inc. -0- 11/22/1999 /CONTACT: concerning Canadian Aerospace Group International please visit the company web page at www.canaero.com/ (CASG) CO: Canadian Aerospace Group International Inc. ST: Ontario IN: ARO SU: CON -30- * end of story *

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