New Jet Company Builds External Image With Heavy-Hitters

A finance guru:

Merrill Lynch International Incorporated Chairman of the Board and Former Bank of Israel Governor, Professor Jacob A. Frenkel, will join Westport (CT)-based Avocet Aircraft, LLC, as the Chairman of the Company's Advisory Board. Professor Frenkel will lead the advisory board which includes, among others, Dr. Gil Amelio, the former Chairman and CEO of Apple Computer; General Amnon Lipkin-Shahak, the Chairman of Tahal Corporation and the former Chief of Staff of the Israeli Defense Forces and former Minster of Transportation; football legend Joe Montana; and venture capitalist Isaac Applbaum.

Professor Frenkel also serves as the Chairman and CEO of the Group of Thirty (G30). He served as the Governor of Israel's Central Bank for two terms, between 1991 and 2000, before joining Merrill Lynch in 2000. Prior to this, he was the Economic Counselor and Director of Research at the International Monetary Fund. He has also served as Chairman of the Board of Governors of the Inter-American Development Bank and as Vice Chairman of the Board of Governors at the European Bank for Reconstruction and Development.

Professor Frenkel has had a long and distinguished academic career, including the David Rockefeller Chair for International Economics at the University of Chicago. He is the author of numerous books and scientific articles on international finance and macroeconomics and received his doctorate in economics from the University of Chicago.

"Due to the high acquisition, maintenance and operating costs of today's corporate jets, the benefits of private jet travel are currently limited to a privileged few. Avocet is positioned to change this with the Avocet ProJet," said Avocet Chief Executive Officer David M. Tait, OBE. "We are pleased to welcome Professor Frenkel to the Advisory Board."

Carey Robinson Wolchok, Founder and Chairman of Avocet Aircraft, added, "As one of the most accomplished leaders in international finance and economics, we are honored that Professor Frenkel has joined us in our vision to introduce the ProJet as a new alternative for business and private jet travel."

A football hero (and jet pilot):

Avocet Aircraft LLC also announced that Joseph C. Montana, former star quarterback for the San Francisco 49ers, has agreed to serve on the Company's Advisory Board. An avid jet pilot and a partner at Champion Ventures, a leading venture capital and private equity fund, Montana is also one of the launch customers for the Avocet ProJet.

Montana, known for his legendary come-from-behind victories, led the San Francisco 49ers to four Super Bowl wins during his 14-year career with the team.

"We are delighted that Joe is bringing his magic to Avocet," noted CEO Tait. "Aside from his legendary accomplishments on the field, Joe has developed an impressive record in the financial world as a partner at Champion Ventures, where the roster of investors reads like a Who's Who of superstar athletes." Tait continued: "Joe is also an exceptional pilot and major-league aviation enthusiast who has flown an IAI Westwind for many years." 

Mr. Montana himself went on the record: "I've been watching all the excitement surrounding these next-generation private jets but most of them seem too small. What really impresses me with the Avocet ProJet is that its cabin cross-section is larger than the Cessna CJ1 -- but the ProJet is almost half the price. I know the ProJet is going to change the way many of us travel and joining the company's advisory board gives me a chance to do what I do best -- play for a winning team."
Montana was named Super Bowl MVP three times, All-NFL three times and All-NFC five times.

Selected to eight Pro Bowls, Montana won the NFL's passing title in both 1987 and 1989. His six 300-yard passing performances in the post-season are another NFL record. He also owns the career playoff records for attempts, completions, touchdowns and yards gained passing.

...and an Astronaut:

Avocet Aircraft LLC also told us that Joe Frank Edwards, Jr., Chairman and CEO of the National Science Center, Commander, Navy Test Pilot and former NASA Astronaut has joined Avocet Aircraft's Advisory Board and will specialize in technical and government affairs.

"I'm thrilled to be working on the Avocet ProJet program," stated Edwards. "This area is the future of jet travel in the US and Avocet is clearly the leader in this segment." Edwards added: "Their relationship with IAI represents a smart affiliation with a proven builder of world-class aircraft.   

"When we wanted help to launch this project, who better than an astronaut?" quipped Avocet CEO David Tait. "Joe brings a body of knowledge and experience that is incredibly strong and will be of great help to the program. Here's a man with a 25-page resume and not one word of fluff!  We are so very pleased to have his kind of horsepower behind the ProJet."

Edwards graduated from the United States Naval Academy in 1980, with a Bachelor of Science degree in Aerospace Engineering. He was designated a Naval Aviator in February 1982; and assigned to Fighter Squadron 143 in 1983 after completion of F-14 Tomcat training. He flew fighter escort and reconnaissance combat missions over Lebanon in 1983 and graduated from U.S. Navy Fighter Weapons School (TOPGUN) in 1984. He graduated from U.S. Naval Test Pilot School in 1986 and subsequently worked as project flight test officer and pilot for F-14A+ and F-14D Full Scale Development.

He has flown 4000 hours in over 25 different aircraft and logged over 650 carrier-arrested landings. His Master of Science degree in Aviation Systems from University of Tennessee, Knoxville, in 1994.

Joe was selected as an astronaut by NASA in December 1994. He worked on technical issues for the Space Shuttle and Space Station in the Safety Department of the Astronaut Office. He also served as Technical Assistant to the Director, Flight Crew Operations Directorate, NASA Director of Operations (DOR), Russia, and Astronaut CAPCOM representative in Mission Control for Shuttle ascent and entry. Joe piloted STS-89 (January 22-31, 1998) on what was the eighth Shuttle-Mir docking mission, during which the crew transferred more than 9,000 pounds of scientific equipment, logistical hardware and water from Space Shuttle Endeavour to Mir. In the fifth and last exchange of a U.S. astronaut, STS-89 delivered Andy Thomas to Mir and returned with David Wolf. Mission duration was 8 days, 19 hours and 47 seconds, traveling 3.6 million miles in 138 orbits of the Earth.

Among his many Special Honors are: Distinguished Flying Cross, Defense Superior Service Medal, Air Medal, Defense Meritorious Service Medal, Navy Commendation Medal, Navy Achievement Medal. Daedalian Superior Airmanship Award 1992, Fighter Squadron 143 Fighter Pilot of the Year, 1984, 1985, Fighter Squadron 142 Fighter Pilot of the Year, 1990, 1991, 1992. Carrier Airwing Seven Pilot of the Year, 1985, 1990, 1991.

In 2002, Joe became the Chairman and CEO of the National Science Center (NSC).  The NSC is a unique partnership between a non-profit organization  (National Science Center, Inc.) and the U.S. Army.

FMI: www.avocetprojet.com; www.iai.co.il