No Agreement Reached by SkyOne Italy

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 25, 2009 -- October 25, 2009

We regret to announced today that it had reached no agreement with Seagle Air following several days
of discussions about matters related to Italy Operations. The dramatic differences in the parties
transaction structures and our views of the risks involved made it impossible to reach a mutually
acceptable agreement.
SkyOne Italy transaction, which it remains willing to complete, while limiting the risk to SkyOne Italy
and generating value for its shareholders. The transaction also preserved substantial value for Seagle

Air Owner and other holding company without exposing SkyOne Italy to Seagle Air company
liabilities it declined to assume. Finally, SkyOne Italy agreed to pay € 5,000,000.00, for a percentage of
the company and to incur up to € 5,000,000.00 of losses, in exchange for the contingent loss protection
that Seagle Air agreed to provide.
Our shareholders have been unjustly and illegally deprived of the opportunity the transaction created.
We have estimated the loss for about € 1.5 Billions Euro.
SkyOne Italy knows that it has strong legal claims against Seagle Air, their officers, directors, advisors

and others for breach of contract and for tortious interference with contract. SkyOne Italy plans to
pursue these damage claims vigorously on behalf of its shareholders.

SkyOne Italy Airlines, LTD