NetJets China Establishing Headquarters in Zhuhai

  NetJets China Establishing Headquarters in Zhuhai

Business Wire

ZHUHAI, China -- November 13, 2012

NetJets China announced today that it has established its operational
headquarters in the Zhuhai Aviation Industrial Park. Subject to obtaining
relevant regulatory approvals, NetJets China Business Aviation Limited will
manage all flight and maintenance operations from the new Zhuhai facility. The
company received CAAC project approval in September and continues to work
towards CAAC certification.

Earlier this year NetJets announced its new joint venture in the People’s
Republic of China. Subject to obtaining relevant regulatory approvals, NetJets
China Business Aviation Limited will be a joint venture among NetJets Inc.;
Hony Jinsi Investment Management (Beijing) Ltd, a subsidiary of Hony Capital,
a leading private equity firm of China; and Fung Investments, part of the
private investment arm of the families of Dr. Victor Fung and Dr. William
Fung, the controlling shareholders of the Li & Fung group of companies that
are involved in supply chain management as well as the wholesale and retail of
consumer products.

“NetJets is excited about the opportunity to launch an aircraft management
business in China,” said NetJets China CEO Eric Wong. “We are working closely
with the CAAC to meet its requirements to obtain an Aircraft Operators
Certificate, and we are targeting approval in 2013.”

ABOUT NETJETS^® INC.

NetJets^®  Inc., a Berkshire Hathaway® company, is the worldwide leader in
private aviation with the largest and most diverse private jet fleet in the
world. NetJets began in 1964 as the first aircraft charter and management
company in the world. In 1986, NetJets pioneered the concept of fractional
aircraft ownership – offering individuals and businesses all of the benefits
of whole aircraft ownership and more, at a fraction of the cost. Today,
NetJets offers a full range of private aviation solutions through its
fractional programs in North America and Europe, including NetJets Shares,
NetJets Leases and the Marquis Jet Card^®, which provides access to NetJets
though a 25-hour jet card. The North America program is managed and operated
by NetJets’ subsidiary NetJets Aviation, Inc., and the European program is
managed and operated by NetJets Transportes Aéreos, SA, a Portuguese/EU Air
Carrier. In the United States, NetJets also offers aircraft management and
on-demand charter services through its subsidiary, Executive Jet^® Management,
Inc. The NetJets companies offer worldwide flight operations. More information
on NetJets, NetJets Europe, the Marquis Jet Card, and Executive Jet Management
is available at www.netjets.com.

© 2012 NetJets Inc. All rights reserved. NetJets, Executive Jet, Marquis Jet,
and Marquis Jet Card are registered service marks.

Contact:

NetJets^®  Inc.
English
Liz Wise, 614-849-7757
Manager, Media Relations
thoyt@netjets.com
or
Mandarin
Leona Kwan, 86-756-777-3131
Director, Human Resources
lkwan@netjets.com
 
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