Further Clarification of December Press Releases



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

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

    CALGARY, Feb. 15 /CNW/ - AeroMechanical Services Ltd. ("AMA") has been
asked by the TSX Venture Exchange to provide further clarification as it
relates to AMA's press releases on December 14, 2007, December 17, 2007 and
December 21, 2007.
    On December 14, 2007 AMA entered into a contract with a European airline
that provides scheduled and charter service using A320 aircraft. The terms of
the contract are as follows: the contract is for a 7 year term whereby AMA
will provide AMA's patented afirs(TM) UpTime(TM) solution on 10 aircraft (with
the possibility to increase it by another 20 aircraft upon the airline
receiving further approval from the customer's board). If AMA is able to
install on all 10 aircraft and provide service for the full term of the
agreement the gross revenues to AMA under this agreement would be
approximately $1.9 million. Initially, it is intended that installation on 2
aircraft would begin on or about April 2008. AMA has acquired the necessary
supplemental type certificate ("STC") approval to provide the services to this
customer.
    On December 17, 2007 AMA entered into a contract with an eastern
hemisphere airline that provides charter services to Europe using A320
aircraft. The terms of the contract are as follows: the contract is for a
5 year term whereby AMA will provide AMA's patented afirs(TM) UpTime(TM)
solution on 4 aircraft (with the possibility to increase it as the airlines
fleet size increases). If AMA is able to install on all 4 aircraft and provide
service for the full term of the agreement the gross revenues to AMA under
this agreement would be approximately $800,000. Initially, it is intended that
installation on one aircraft would begin on or about March 2008. AMA has
acquired the necessary STC approval to provide the services to this customer.
    On December 21, 2007 AMA entered into a contract with North American
airline that provides scheduled service using Boeing 737 aircraft. The terms
of the contract are as follows: the contract is for a 5 year term whereby AMA
will provide AMA's patented afirs(TM) UpTime(TM) solution on 3 aircraft. If
AMA is able to install on all 3 aircraft and provide service for the full term
of the agreement the gross revenues to AMA under this agreement would be
approximately $400,000. Initially, it is intended that installation on
1 aircraft would begin on or about February 2008. AMA has acquired the
necessary STC approval to provide the services to this customer.

    This disclosure as it relates to these agreements is subject to the
    following disclaimer:

    When a contract is initially signed, the intended number of aircraft,
pricing and potential installation schedules is agreed to by the parties. The
actual installation schedules as well as the number and types of aircraft are
often revised throughout the term of the agreement as the airline realigns its
fleet of aircraft with its business requirements. Delays in installations can
and do occur which can affect the total value of the contracts such that the
revenues noted above may not be fully achieved. Fulfillment of the contract
terms may also be affected if there are any changes to government statutes,
regulations or rules of the applicable governing bodies. The contract terms
and values disclosed herein are based on the original information available to
AMA upon execution of the contract and are subject to change. For the actual
revenue earned, please see AMA's financial statements including its revenue
recognition policy disclosed within the notes to the Audited Annual Financial
Statements.
    These additions increase the total aircraft under contract with AMA to
685 from 26 carriers. Currently, 95 aircraft of the total 685 aircraft have
been fitted with AMA's products and are receiving related services from AMA.

    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.

    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; 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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