Global Business Leader Joins Martin Aircraft Company Board

Martin Aircraft Company News Release
GLOBAL BUSINESS LEADER JOINS MARTIN AIRCRAFT COMPANY BOARD

Images and video of the Martin Jetpack, including a flight demonstration are available at: http://martinjetpack.com/

Christchurch, New Zealand, 17 April 2011. - The former Global Chief Operating Officer (COO) of one of the world’s largest technology consulting companies has joined the Board of Christchurch’s Martin Aircraft Company as the New Zealand company prepares to take its Martin Jetpack global.

David Hunter led the international operations of US management and technology consulting giant, Bearing Point Inc., (NYSE:BE) a role spanning 17,500 employees in 25 countries generating $5 billion revenue per year, until 2009 when he returned to Australia to take up several directorships.

Sydney based Mr Hunter joins Martin Aircraft, developers of the world’s first practical Jetpack, as the company eyes a potential capital raising and enters its most intensive testing period on its manned and unmanned (UAV) versions of the Martin Jetpack.

Martin Aircraft Chairman, Anthony Romano says Mr Hunter’s global experience, in particular his work with Government’s around the world, will be a key asset for the company as it focuses on international sales for military and emergency services applications.

“David was also one of eight global executives who successfully listed Accenture Limited, the world’s largest management and technology consulting company, on the New York Stock Exchange in 2001 and his capital raising experience will be invaluable during the next phase of Martin Aircraft’s development.”

The Martin Jetpack has attracted global media attention since it was unveiled at Oshkosh, the world’s biggest aviation show, in 2008. It was an article in an international magazine that first piqued David Hunter’s interest in the Jetpack.

After visiting Martin Aircraft in Christchurch to see the Jetpack and meet the team behind it, David Hunter saw the international market potential for the Jetpack in military and emergency response and has taken a stake in the company and a seat on the Board.

“In my view this is a once in a generation breakthrough in aviation technology and I wanted the opportunity to play a role in Martin Aircraft’s next stage of development to have the Jetpack in commercial production within 18 months. A goal I believe is achievable.” ENDS

NOTES TO EDITORS:
About David Hunter
As a senior company executive David Hunter has lived and worked in 15 countries around the globe. He currently lives in Sydney, Australia and holds the following positions: Chairman of Tugeto Pty Ltd (a family investment Company); Member of the NSW Government Office of State Revenue Audit and Risk Committee; and Chairman of the Momentum Mortgage Limited Investor Committee.
About The Martin Aircraft Company
• The Martin Aircraft Company are the developers of the Martin Jetpack.
• The Company is backed by an astute management team, a highly experienced board and a global network of advisers.
• In 2003, the Martin Jetpack captured the interest and commitment of New Zealand’s Top Venture Capital Company, No 8 Ventures, and soon after formed a Board of Directors consisting of Jenny Morel, Richard Lauder and Glenn Martin. Anthony Romano, Dennis Chapman and Steve Bayliss later joined as company directors, with David Hunter joining in 2011.
• Martin Aircraft Company is seeking investors to assist the company to grow to its next stage and have the Martin Jetpack in commercial production within 18 months.
• All research on the Jetpack is complete with funding being used to verify and refine technology in the areas of safety (fitting the Ballistic parachute), engine performance over extended and continuous hours of operation, and high speed flight stability and to fund the production processes required to fulfil international customer orders for the Jetpack.
• Since the public unveiling of the Jetpack at Oshkosh in the US (the world’s biggest aviation show), Martin Aircraft has received substantial interest from governments, military and emergency services around the world, along with many in the general aviation sector who are interested in being one of the first to own a jetpack.
• Based on this customer demand and international interest in the development of the Jetpack for a range of uses, the Martin Aircraft Company believes the Jetpack has the potential to become a significant international export for New Zealand.
About The Martin Jetpack
• The Martin Jetpack is a vertical take-off and landing aircraft that can either be flown by a person or operated unmanned.
• The Jetpack has the ability to climb more than 1000ft per minute and to cruise at 100 km/h.
• The earliest Martin Jetpack customers are expected to be in the military and emergency/search and rescue service sectors around the world. In the future when disasters strike the jetpack could be used to fly rescuers to areas where helicopters and planes can't get to.
• Unmanned Jetpacks could be used for delivery, observation and extraction in areas and situations too dangerous for people and other aircraft to get to.
• The Jetpack has a number of advantages over helipcopters:
o Most importantly it’s easy to fly. On average a Jetpack pilot will be trained and competent with only around twenty hours of classroom and flight training at a cost of a couple of thousand dollars. Helicopter pilots, by comparison, take 50 hours of flight time and many more hours of classroom time at a cost tens of thousands of dollars. That means, in a rescue service for example, rather than having a single dedicated pilot, every member of a team could be a trained and competent Jetpack pilot.
o It’s safe. With the Ballistic Parachute we believe, unlike helicopters, the Jetpack’s avoidance curve can be removed entirely – that is to say with the aircraft’s safety systems there is no height where a catastrophic failure needs to lead to pilot fatality.
o The operating costs are hugely lower. Compared to helicopters currently used for urban surveillance and search and rescue work, the Jetpack’s hourly operating cost will be around 90% lower.
o The Jetpacks small profile means it can access, and land in, places a helicopter could never reach.
o The Jetpack can be flown manned, or unmanned as a carrying platform.
• The Jetpack was recognised by Time Magazine as one of the world’s top 50 inventions for 2010.

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