Acquisition of two Airbus A321-200 Aircraft

AVATION PLC
                                     ('AVATION' OR THE 'COMPANY')

ACQUISTION OF TWO AIRBUS A321-200 AIRCRAFT, PROVISION OF MEZZANINE FINANCE AND GRANTING OF A GUARANTEE

The  Board  of Avation advises that its 51.22% owned and AIM-listed subsidiary, Capital Lease  Avation
PLC ("CLA") has purchased two Airbus A321-200 aircraft for a total of USD $70,750,000.

CLA  has  acquired the planes using its own funds together with banking facilities.  This  includes  a
vendor finance facility, for which Avation has provided a guarantee in respect of USD $2,000,000 to an
aircraft vendor, and Avation has also provided USD $800,000 in mezzanine finance.

The  purchase of these two aircraft brings the total number of aircraft owned by the Company  and  its
subsidiaries  to  10.  These  are four Fokker F100's directly owned  by  Avation  or  its  100%  owned
subsidiaries, and three Fokker F100's, an Airbus A320 and these two A321 aircraft owned by CLA.

               The directors take responsibility for the contents of this announcement.

                                              ---ENDS---

ENQUIRES:

AVATION PLC                                                      07783 942 553
Jeff Chatfield, Chairman

STOCKBROKERS
WH Ireland Ltd                                                   020 7220 1670

Cornhill Asset Management Ltd                                    020 7743 6000

ADVISOR                                                          020 7628 1128
Frank Lucas
Loeb Aron & Company Ltd.

MEDIA                                                            020 7562 3350
Maxine Barnes, Nick Rome
Bishopsgate Communications

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www.avation.net

Avation plc