Discovery Air announces extension of financing arrangements with its operating lender

    LONDON, ON, Jan. 23 /CNW/ - Discovery Air has negotiated an extension of
the expiry date of its operating line of credit to February 20, 2009 at an
increased borrowing limit of $7.5 million and is in discussion with its lender
to extend the maturity date further to provide for a line of credit once the
recently announced loan transaction with the Northwest Territories
Opportunities Fund closes.

    Discovery Air's Class A common shares trade on the Toronto Stock Exchange
under the symbol DA.A.
    Discovery Air's Debentures trade on the Toronto Stock Exchange under the
symbol DA.DB.

For further information:

For further information: Wade MacBain, Director of Investor Relations,
Phone: (519) 951-3580, Toll Free: (866) 903-3247 ext. 3580, Email:

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