AeroMechanical Services Ltd. announces warrant and stock option exercise



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    DISSEMINATION IN THE UNITED STATES/

    
    AeroMechanical Services Ltd.             TSX-V Trading Symbol "AMA"
    A Tier 2 Industrial Issuer
    

    CALGARY, Jan. 3 /CNW/ - AeroMechanical Services Ltd. ("AMA") announced
today it has completed the exercise of warrants and stock options that expired
on December 31st, 2007. During that past year, 7.6 million shares were
purchased for total proceeds of $3.6 million. Fully 19% of those shares were
exercised by employees, directors, officers, and contractors.
    "That brings the tally to 92% of our employees now holding shares in our
company," said CEO Bill Tempany. "We are very pleased by that show of
confidence, and this committed group of people will accelerate the progress
made in 2007. We want to thank all of our shareholders for their support and
well wishes throughout last year and we will strive to make 2008 a year to
remember. The patience of our shareholders has been greatly appreciated by the
management and board of AMS."

    About AeroMechanical Services Ltd.

    AeroMechanical Services Ltd. provides proprietary technological solutions
and services designed to reduce costs and improve efficiencies in the airline
industry. The company has successfully commercialized three products and
associated services currently marketed to airlines, manufacturers and
maintenance organizations around the world. Its premier technology afirs(TM)
UpTime(TM) allows airlines to monitor and manage aircraft operations anywhere,
anytime, in real-time. Due to the competitive nature of the marketplace AMS is
maintaining its position to withhold the airline's name and specific location.
For further clarification of potential contract values please refer to AMA
quarterly reports.

    afirs, UpTime, FLYHT and aeroQ are Trade Marks of AeroMechanical Services
    Ltd.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this press release.

    %SEDAR: 00016486E




For further information:

For further information: Tom French, CFO, AeroMechanical Services Ltd.,
(403) 291-7427, tfrench@amscanada.com, www.amscanada.com; Bob Beaty, The
Howard Group Inc., Toll Free: 1-888-221-0915, Info@howardgroupinc.com,
www.howardgroupinc.com

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AEROMECHANICAL SERVICES LTD.

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