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One Charter PLC (ONCO)

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Thursday 22 May, 2008

One Charter PLC

(Amendment) Management Contract for Eclipse 500...


                                                                       22/05/08

           (Amendment) Management Contract for Eclipse 500 Aircraft            

                 * ISSUER AMENDMENT TO ANNOUNCEMENT RELEASED
                          EARLIER TODAY AT 11:45am *

                 - Notes to Editor should read as follows -


                              ONE CHARTER PLC
                             PLUS Symbol: ONCO                              
 
                  Management Contract for Eclipse 500 Aircraft                    
 

One Charter Plc (PLUS: ONCO) - the private aircraft charter, brokerage and
management services provider is delighted to announce the Company has signed a
contract for the management of its first Eclipse 500 aircraft.

The aircraft currently in Albuquerque, New Mexico having been accepted from the
manufacturer, and is now awaiting delivery to the UK, is expected in June 2008.
The aircraft will be operated on a private basis only for the owner, by One
Charter's subsidiary company One Air Taxi, until the aircraft is certified for
commercial operations.
 
One Charter has been involved in the entire acquisition process, from sourcing
the aircraft; contracts; organising the finance and insurance, and is preparing
to send two pilots over to the Eclipse training facility in the next few weeks.

Once training is completed the aircraft will be flown back personally to the UK
by Captain Mike Giles, One Air Taxi's CEO. All of these turn key activities in
the aircraft acquisition process have been completed in a two week period.
 
 Chief Executive of One Charter PLC Mike Ryan said today:
 
"This is our first Eclipse 500 under management contract, which now paves the
way for similar, forthcoming contracts in line with our business plan. With the
price of oil rising, we are especially pleased to be operating the world's most
fuel efficient jet for our client. Along with the aircraft's low noise
footprint and carbon emissions, we are proud to be one of the first companies
in Europe to start operations of this new generation of very light jet
aircraft. The customer is looking forward to flying directly to airports such
as La Mole, near St Tropez, and Samadan, near St Moritz, without the hassle of
booking commercial flights, and not having to spend the whole day travelling."
 
 
 The Directors of the Issuer accept responsibility for this announcement.
 
                                  ---ENDS---                                  
 
  

ENQUIRIES

ONE CHARTER PLC TEL: 020 8122 9300
Mike Ryan
CEO and Director

RIVINGTON STREET CORPORATE FINANCE TEL: 020 7562 3389
Monisha Varadan
monisha@rs-cf.com


Notes to Editors

One Charter plc floated on Plus Markets in April 2006. The Company's principal
activities involve the provision of aircraft chartering, aircraft brokerage and
aircraft management services. One Charter is currently operating a Cirrus SR22
G3 prop aircraft in the UK charter market.

One Air Taxi Ltd, a subsidiary of One Charter will operate the aircraft, and
was recently awarded its Air Operating Certificate (AOC) by the UK Civil
Aviation Authority, followed by it's EU Operations certificate. On being
awarded this certificate, the company was the first UK Company to operate the
Cirrus SR 22 G3 for public transportation. The aircraft has become a standard
air taxi vehicle for companies such as SATSair in the USA, which operates a
taxi service, with over 26 Cirrus aircrafts.

The Company has also established a Cargo division, One Cargo, which was set up
as a result of demand for instant transportation of perishable, heavy and
outsized goods, relief cargo for humanitarian aid and specialised oil and gas
equipment. It recently organised a flight carrying humanitarian aid bound for
Rangoon to assist in the relief efforts in Myanmar. Finally the Company has
invested in One Track Software Limited a company that develops flight
operations software which is used by aircraft operators.

About Eclipse Aviation

Eclipse Aviation is the world's leading very light jet (VLJ) manufacturer;
producing innovative, affordable jets that are revolutionising 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 costs a fraction of other
jets. The Eclipse 500 Jet is the most cost effective and environmentally
sensitive jet aircraft currently on the market.

By changing the value proposition for private jet travel, Eclipse is allowing
more owners to enter the world of jet-powered aviation, enabling a new
generation of travellers to move between cities on a quick, affordable and
convenient basis.