Discovery Air approves financing for Top Aces acquisition

    LONDON, ON, Aug. 20 /CNW/ - David Taylor, Chairman & C.E.O. of
Discovery Air Inc. (TSX: DA.A), is pleased to announce that Discovery Air's
Board of Directors today approved the debt financing for the acquisition of
the shares of Top Aces Inc. Discovery Air looks forward to closing the Top
Aces transaction before the end of the month.

    Top Aces is an approved supplier to the Canadian federal government of
airborne training services to the Department of National Defence.

    Discovery Air's mission is to build shareholder value by creating an
alliance of profitable niche aviation businesses that can realize synergies,
economies of scale and deliver safe, professional air services to clients in
selected niche markets.

    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) 913-2204, ext. 358, Toll-free: (866) 903-3247, ext. 358, E-mail:

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