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GACF News Global Aircraft Solutions Announces Four Maintenance Contracts Valued at $4,000,000

TUCSON, Ariz.--(BUSINESS WIRE)--Global Aircraft Solutions, Inc. (OTCBB: GACF.OB) today announced that its wholly owned subsidiary, Hamilton Aerospace Technologies, Inc., has executed contracts and has input four aircraft for major work for four separate customers. Collectively, these contracts represent approximately $4,000,000 in new aircraft maintenance and modification business for Hamilton Aerospace and parts sales for its principal supplier, World Jet.

The first contract is with the Company’s joint venture, JetGlobal, and involves aircraft maintenance, paint and reconfiguration services to put into service a 737-200 sold by JetGlobal to Royal Khmer Airlines of Cambodia. The aircraft is now undergoing test flight and is scheduled to be delivered before the end of November.

The second contract consists of scheduled heavy maintenance for a 737-200 aircraft that is part of the Mexican Presidential fleet. This aircraft is scheduled for delivery by December 4, 2006.

The third contract involves lap seam repairs, paint, and a heavy maintenance visit for a 737-200 leased to Aloha Airlines by BCI Aircraft Leasing. This aircraft is scheduled for delivery by December 9, 2006.

The fourth and final contract involves modification and heavy maintenance on a Super 727-200 that will be operating as a VIP aircraft by Kingfisher Airlines of India. This aircraft is scheduled for delivery by January 31, 2007.

John Sawyer, President of Global Aircraft Solutions, commented, “These four contracts bring Hamilton Aerospace up to full capacity at our current employment level. We recognize that high quality on-time service is our most valuable form of advertising and that return business from satisfied customers is our best source of revenue. Accordingly, our team members are working hard to deliver these four aircraft in an efficient and timely manner.”

About Global Aircraft Solutions -

Global Aircraft Solutions provides parts support and maintenance, repair and overhaul (MRO) services for large passenger jet aircraft to scheduled and charter airlines and aviation leasing companies. Hamilton Aerospace and World Jet, both divisions of Global Aircraft Solutions, operate from adjacent facilities comprising about 35 acres located at Tucson International Airport. These facilities include hangars, workshops, warehouses, offices and other buildings. Notable customers include debis AirFinance, BCI Aircraft Leasing, Falcon Air Express, Jetran International, Goodrich Corporation, AAR, National Jet Systems, San Antonio Aerospace, Pegasus Aviation, Shaheen Airlines, Iraqi Airways, and Aero California.

Global's website is located at www.globalaircraftsolutions.com. The Hamilton Aerospace website is located at www.hamaerotech.com.

Except for the historical information presented, this press release contains "forward-looking statements" made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 or regulations thereunder including, but not limited to expected and estimated revenue and earnings. Forward-looking statements are made based upon management’s expectations and belief concerning future developments and their potential effect upon the Company. There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management.

The words “believes,” “expects,” “intends,” “plans,” “anticipates,” “hopes,” “likely,” “will,” and similar expressions identify such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company or its subsidiaries or industry results, to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements. These risks include the economic health of the airline industry, demand for Global Aircraft Solutions’ services, and competitive pricing pressures.

In addition, other risks are detailed in Global's Form 10-KSB for the year ended December 31, 2005, Global’s Form 10-Q for the quarter ended March 31, 2006, Global’s 10-Q for the quarter ended June 30, 2006 and Global’s Form 10-Q for the quarter ended September 30, 2006. These statements speak only as of above date, and Global disclaims any intent or obligation to update them.