FOR IMMEDIATE RELEASE

Piaggio America Signs Aeromech, Inc. as Service Provider


GREENVILLE, S.C., June 20, 2001 - Piaggio America, Inc. signed an agreement with Aeromech Inc., a premier aircraft service provider based in Lakeland, Fl.

The agreement authorizes Aeromech to provide warranty support, maintenance and service for the Piaggio Avanti aircraft to operators in the U.S. from its FBO at Lakeland Regional Airport.

"The partnership between Piaggio America and Aeromech ensures that our customers in the Florida area will receive the highest level of service and maintenance, as we continue to extend our service network nationwide, " said Mike Bomstad, Piaggio America Vice President of Product Support. "This agreement also reinforces our commitment to Piaggio Personal Touch Service SM, which guarantees outstanding support and service to all Piaggio customers."

With the agreement, Aeromech joins Stevens Aviation (Greenville, S.C. and Denver, CO) and Jetworks (Dallas, Texas) as service centers partnering with Piaggio America in providing Avanti maintenance and support in the U.S.

The Piaggio Avanti is a twin-engine, turboprop-pusher aircraft and is the only owner-operated and corporate aircraft designed, developed and certified with a three-wing lifting surface configuration. The Avanti is the fastest FAR 23 certified turboprop aircraft in production. It is certified for single pilot operation and seats up to nine passengers.

Piaggio America, Inc. delivers and supports the Avanti aircraft in the North America, South America and Central America markets from its headquarters at the Donaldson Center in Greenville, S.C. Piaggio America, Inc. is a wholly-owned subsidiary of Piaggio Aero Industries, an international aerospace company specializing in manufacturing new airplanes, aircraft structures & engines, and providing airplane service and maintenance.