REFLECTOR: Velocity Sale

[Chuck Harbert]

Looks like it's a done deal. They also own Rotoway Helicopter (which is 
employee owned-ESOP).

>From their website http://www.velocityaerospace.com/

LAS VEGAS , NV , Feb. 8, 2006 -- Velocity Aerospace, Inc. (VLYA.PK) is very 
excited about current developments with Velocity Aircraft, Inc. The 
acquisition of Velocity Inc. by Velocity Aerospace is imminent, with both 
parties diligently working to complete the transactions in February. 
Velocity Inc. has been selling the futuristic and world-renown Velocity 
airplane for over twenty years. The Velocity XL has many years of proven 
aircraft performance, reliability and safety. The company has sold over 600 
aircraft kits, making it one of the largest manufacturers in the aviation 
industry.

Andrew Edlefsen, CEO of Velocity Aerospace, Inc., commented, "With demand 
for high-performance, single-engine aircraft increasing worldwide, we 
believe this to be an excellent time to join with Velocity to make the 
exciting Velocity airplanes better known throughout the world. Velocity's 
sterling reputation and extensive experience make this an important 
acquisition for our company."

About Velocity, Inc.:

Velocity, Inc. was formed in 1984. The company developed the innovative 
Velocity aircraft, a kit airplane that uses the canard design for improved 
performance, reduced risk of stalling, and other advantages over traditional 
single-engine aircraft. The company has developed a model with retractable 
gear and a five-seat model.

Velocity Aerospace, Inc. (VLYA)

Velocity Aerospace is in the business of identifying, developing, and 
marketing global business and business opportunities with emphasis on 
aviation projects utilizing their proprietary management techniques.
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