Holding in Company - amendment

23 May 2008
                                                     AVATION PLC
                                            ('AVATION' OR THE 'COMPANY')

                                      NOTIFICATION OF SUBSTANTIAL SHAREHOLDING -Amendment

The  Board  of  Avation Plc has received notification on 23 May of a disposal of 25,000 shares  (voting  rights)  by
Lehman  Brothers  International (Europe) ("Lehman") and notification that Lehman now has an  interest  in  1,100,000
shares in the Company. This interest is 4.35% of the issued voting shares of the Company. Lehman previously notified
the  Company on 28 November 2007 of its interest in 1,125,000 shares which represented 6.03% of the shares in  issue
at  that date, which was announced by the Company on 29 November 2007. Since that date the exercise of warrants  and
consequent issue of shares has increased the number of shares in issue diluting the percentage shareholding.

The Company has in issue a total of 25,270,000 Ordinary shares.

                      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
Jonathan Willis-Richards
Loeb Aron & Company Ltd.

MEDIA                                                            020 7562 3350
Maxine Barnes, Nick Rome
Bishopsgate Communications

WEBSITES                                                         www.avation.net

Avation plc