Global Aerospace to Offer Insurance for Eclipse 500 Jet Owners

July 26, 2002

Eclipse Aviation Corporation, manufacturer of the Eclipse 500 jet, will partner with Global Aerospace, the world’s largest aerospace insurance underwriter, to provide aircraft hull and liability insurance to owners of Eclipse 500 jets.

While it is too early to set premiums, Global expects insurance premiums for the new Eclipse 500 will be similar to those for existing aircraft, based upon anticipated innovative training and customer support programs that will be part of Eclipse’s product offering.

“Insurance is a requirement for every aircraft owner, and in today’s market cannot be taken for granted,” Vern Raburn, CEO and president of Eclipse Aviation, said. “It is great news for our customers that aviation’s leading insurance underwriter is making the commitment now to write policies for the Eclipse 500 jet, even though it is 18 months before the aircraft will be available to customers.”

“With a new aircraft, the question for insurers is always safety, which is a direct result of the quality of training pilots receive,” John D’Angelone, executive vice president for General Aviation of Global Aerospace, added. “We’ve been impressed with Eclipse’s commitment to provide a comprehensive training program for all its customers. Eclipse’s approach to safety will pay dividends to its customers and the insurance industry.”

The Eclipse 500 jet is on track for certification in Dec. 2003 with first customer deliveries scheduled for January 2004.

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