Issue of Equity on exercise of Warrants by Dire...

October 27, 2010

                                            AVATION PLC
                                   ("AVATION" or "THE COMPANY")

                        Issue of Equity on exercise of Warrants by Director

The  board of Avation announces that on the 26th of October 2010, the Company issued and  allotted
2,313,210  FULLY PAID NEW ORDINARY SHARES pursuant to the exercise by Epsom Assets Ltd, a  company
in  which Mr Chatfield, a director and chairman of Avation has a beneficial interest. The exercise
prices per share were 23,720 at 35.5 pence in respect to the 24th December 2009 series, 289,490 at
4p  in respect to the 22nd December 2006 series and 2,000,000 at 4p in respect to the 30th October
2006 series.

As a consequence there are now a total of 28,532,220 shares in issue.  The Directors interests are
now  25.9%. Mr Chatfield has a beneficial interest in 6,713,211 shares representing 23.5%  of  the
issued ordinary shares capital of the Company.

The Directors take responsibility for the contents of this announcement.

                                            ---ENDS---

ENQUIRES:

AVATION PLC                                                         07783 942 553
Jeff Chatfield, Chairman

ADVISOR                                                             020 7628 1128
Dr Frank Lucas, Loeb Aron & Company

MEDIA                                                               020 7562 3350
Nick Rome
Bishopsgate Communications

For filings with the FSA include the annex                     
For filings with issuer exclude the annex                      

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i)

1. Identity of the issuer or the underlying issuer                                                              AVATION PLC
of existing shares to which voting rights are
attached: (ii)

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights                                                                           

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares          
already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments            

An event changing the breakdown of voting rights                                                                      

Other (please specify):    Exercise of warrants                                                                      X

3. Full name of person(s) subject to the                                                          Robert Jeffries Chatfield
notification obligation: (iii)

4. Full name of shareholder(s)                                                                               Not Applicable
 (if different from 3.):(iv)

5. Date of the transaction and date on                                                                      26 October 2010
which the threshold is crossed or
reached: (v)

6. Date on which issuer notified:                                                                           27 October 2010

7. Threshold(s) that is/are crossed or                                                                             Above 5%
reached: (vi, vii)

8. Notified details:

A: Voting rights attached to shares (viii, ix)

Class/type of          Situation previous            Resulting situation after the triggering transaction
shares                 to the triggering
                       transaction
if possible using
the ISIN CODE
                       Number         Number         Number         Number of voting            % of  voting rights (x)
                       of             of             of shares      rights
                       Shares         Voting
                                      Rights
                                                     Direct         Direct (xi)  Indirect (xii) Direct         Indirect
Ordinary shares        4,400,001      4,400,001      1              1            6,713,210      0.0000035      23.5%
GB00B196F554                                                                                                   

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial             Expiration     Exercise/                  Number of voting              % of voting
instrument                    date (xiii)    Conversion Period (xiv)    rights that may be            rights
                                                                        acquired if the
                                                                        instrument is
                                                                        exercised/ converted.
Not Applicable                                                                                        

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments (xv, xvi)

Resulting situation after the triggering transaction
Type of financial       Exercise      Expiration    Exercise/       Number of voting rights         % of voting rights (xix,
instrument              price         date (xvii)   Conversion      instrument refers to            xx)
                                                    period (xviii)                                    
Not Applicable                                                                                      Nominal       Delta

Total (A+B+C)
Number of voting rights                                       Percentage of voting rights
6,713,211                                                     23.5%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: (xxi)

The warrants are exercised by Epsom Assets Ltd, a company in which Mr Chatfield, a director and Chairman of Avation PLC has
a beneficial interest.

Proxy Voting:

10. Name of the proxy holder:                                                                 Not Applicable

11. Number of voting rights proxy holder will cease                                           Not Applicable
to hold:

12. Date on which proxy holder will cease to hold                                             Not Applicable
voting rights:

13. Additional information:                                                                                  Not Applicable

14. Contact name:                                                                                          Mr Peter Freeman
                                                                                       Ms Siobhan Cool/Ms Carissa Gina Tan*

15. Contact telephone number:                                                                            [phone]
                                                                                                             [phone]*

Note: Annex should only be submitted to the FSA not the issuer
Annex: Notification of major interests in shares (xxii)

A: Identity of the persons or legal entity subject to the notification obligation

Full name                                                                                         Robert Jeffries Chatfield
(including legal form of legal entities)

Contact address                                                                                 c/o 510 Thomson Road #12-04
(registered office for legal entities)                                                                         SLF Building
                                                                                                           Singapore 298135

Phone number & email                                                                                       [phone]

Other useful information                                                                                     Not Applicable
(at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name                                                                               Ms Siobhan Cool/Ms Carissa Gina Tan

Contact address                                                                                     510 Thomson Road #12-04
                                                                                                               SLF Building
                                                                                                           Singapore 298135
Phone number & email                                                                                                       
                                                                                                              [phone]
                                                                                          Siobhan Cool - [e-mail]
                                                                               Carissa Gina Tan - [e-mail]

Other useful information                                                                 Siobhan Cool - Group Legal Counsel
(e.g. functional relationship with the person or legal                                 Carissa Gina Tan - Company Secretary
entity subject to the notification obligation)

C: Additional information
Not Applicable

For notes on how to complete form TR-1 please see the FSA website.

Avation plc