West Chester, PA – Keystone Helicopter, a leader in the helicopter services industry, has added Argosy Investment Partners II LP of Wayne, PA, to its outside group of institutional investors. The exact terms of the private “mezzanine” investment will not be disclosed. Steve Townes, CEO of Keystone and Founder/CEO of Keystone’s parent company-Keystone Ranger Holdings, Inc., said: “We welcome Argosy’s investment experience and capital resources as we continue to grow Keystone Helicopter internally as well as through follow-on acquisitions.”

Argosy Partners is an SBIC-licensed investment firm that specializes in middle market companies in need of growth capital. Argosy, through its various entities and affiliates, has more than $200 Million under management. Argosy currently has 30 companies of various types in its investment portfolios, and has invested in more than 50 companies since its inception in 1989. Kirk Griswold, Managing Partner for Argosy’s investment in Keystone Ranger Holdings, said: “This is a strong performing, high quality aviation company which fits very well with our investment criteria. We are strong supporters of their strategy for additional acquisitions and top-tier leadership of their served market segment.” Keystone Helicopter was acquired in January 2002, by a Philadelphia group of aviation investors led by Ranger Aerospace LLC. Institutional investors include Ranger Aerospace, Meridian Venture Partners, and CD Ventures, in addition now to Argosy Partners. Townes is the Chairman of Ranger Aerospace, an acquisition vehicle that he has used for other aviation ventures such as “Aircraft Service International Group” prior to acquiring Keystone Helicopter. Substantial ownership is also held by the company’s management team, and by the Wright family, original founders of Keystone Helicopter.

Keystone Helicopter Corporation, founded in 1953, currently manages air medical transport programs comprising 130 pilots, 39 mechanics and 28 helicopters, at 24 sites in the eastern United States. The firm also operates a large technical services depot and completion center near Philadelphia. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available on the Web at: www.keystonehelicopter.com; www.rangeraerospace.com; www.argosycapital.com.

Forward Looking Statements: The Company from time to time may discuss forward-looking information. Except for factual historical information, all forward looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that are beyond the Company’s control and may cause actual results to differ materially from management’s expectations.