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Ranger Aerospace Corporation to Sell Aircraft Service International Group to Signature Flight Support Corporation for Approximately $152 Million

November 15, 2000

Fort Lauderdale, FL – Ranger Aerospace Corp. (“Ranger”), parent company of Aircraft Service International Group, Inc.(“ASIG”), and Signature Flight Support Corporation (“Signature”), a wholly-owned subsidiary of BBA Group plc (“BBA”)announced today that the companies have entered into a definitive agreement under which Signature will acquire Ranger stock for a total consideration of approximately $152 million including the assumption of its ASIG bonds and the repayment of its debt. The transaction, which is subject to customary closing conditions, is expected to close in the first quarter of 2001. Steve Townes, President and CEO of ASIG and founder of Ranger, said “This combination brings together two of the largest and most respected names in the aviation services industry. Signature is the largest and best FBO chain in North America, and ASIG is the highest quality-ranked airline services firm in North America, with a significant and growing presence in Europe. We are confident that our merged company will be advantageously positioned to provide a full range of services to our customers, and continue to benefit from the growing opportunity in the aircraft services marketplace.”

Aircraft Service International Group, headquartered in Fort Lauderdale, Florida, is one of the largest and most experienced independent airfield service companies in the world. Founded in 1947, ASIG provides a wide breadth of aviation fuel services, fuel consortium management, aircraft ground handling and passenger services, as well as a full range of other diversified airport and aviation services at 54 airport locations throughout the United States, Europe, and the Caribbean. Revenue for fiscal 2000 (ended 3/31/00) totaled approximately $141 million.

BBA, headquartered in London, is an international group of world-recognized brands that provide services and technology solutions to world markets. BBA Aviation is a world leader in Business Aviation Services through its network of bases in major airports in the US, and increasingly the rest of the world. BBA is also the leading supplier to world’s hygiene and industrial markets. In 1999, BBA had sales of £1.4 billion.

Signature Flight Support, headquartered in Orlando, Florida, is the world’s largest fixed base operator (FBO) and distribution network for business and commercial aviation services with 50 facilities throughout the United States, Mexico, Europe and the Far East.

Ranger Aerospace, headquartered in Greenville, South Carolina, is a privately held investment and management holding company with large financial institutions, venture capital entities, and management as shareholders. Ranger and its shareholders add value to acquired companies via seasoned veterans who are experienced in aviation services, aerospace, engineering, finance, MIS, marketing, total quality management, leveraged buyouts, mergers & acquisitions, organizational development, post-merger integration, and turnarounds.

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