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Jan 9, 2002
Executive Jet, Inc. Changes Name to NetJets® Inc.

World Leader in Fractional Jet Ownership Unveils New Branding Activity

WOODBRIDGE, NJ April 30, 2002 --Executive Jet, Inc. Chairman and CEO Richard T. Santulli announced today that the world leader in fractional aircraft ownership has changed its corporate name to NetJets® Inc., the name previously reserved for the company's fractional aircraft ownership program.The company will begin to use the new name immediately.

Until the mid-1980s, owning a business jet was expensive for most companies and individuals. In 1986 when Mr. Santulli created the fractional aircraft ownership concept he called NetJets, he revolutionized access to the advantages of business aircraft. He made business aircraft benefits affordable and allowed companies and individuals to broaden their reach and better manage their time. Today, NetJets is by far the worldwide leader in fractional aircraft ownership.

"Our research shows that using the names Executive Jet and NetJets created confusion among the press, prospects and occasionally even among our NetJets fractional aircraft owners," Mr. Santulli said. “We've now taken this opportunity to position NetJets as both the company and the worldwide leader in fractional aircraft ownership.

"Changing our corporate name to NetJets Inc. reflects the importance of the NetJets fractional ownership program as our primary business, as well as our focus on offering a superior ownership experience. It's the foundation of our future growth.

"The name change, coupled with our new tagline, ‘Everything else is just a plane,’ communicates our promise to continue to deliver that superior ownership experience. It's more than a superior fleet of aircraft that offers our owners the greatest safety, security, convenience and flexibility in the industry. It's thousands of people associated with NetJets around the globe united by a common purpose and a promise that sets us apart from any other aviation provider.”

Among changes taking effect at NetJets today:

Executive Jet, Inc. will officially become NetJets® Inc.

NetJets will adopt a new corporate logo and tagline “Everything else is just a plane.”

Executive Jet Management, Inc. (EJM) will retain its name and will be endorsed as "A NetJets Company”. EJM will continue to be the premier provider for those individuals and companies who want their aircraft managed by or need charter support from a NetJets company.

NetJets International subsidiaries such as “NetJets Europe” will also be communicated as NetJets.

NetJets will launch a new series of advertising and collateral materials with print ads in The Wall Street Journal, Fortune, Business Week and other media.

This year NetJets will fly over 200,000 flights to more than 140 different countries. NetJets owners can interchange and use any of the NetJets programs in the U.S., Europe and the Middle East. Today, NetJets directly manages and operates 449 aircraft and has nearly 565 planes on order, including 100 for delivery this year, to meet the ongoing needs of the NetJets program.

Some of the most successful private and public companies in the world such as General Electric, Gillette, and Sun Microsystems are NetJets owners. The NetJets client list is a who's who in American business, entertainment, sports and private individuals. NetJets fractional aircraft owners include Andre Aggasi, Pete Sampras, Arnold Schwarzenegger, and Tiger Woods, among others.

One satisfied NetJets owner is renowned investor Warren Buffett. He and his family utilize NetJets to meet their demanding business and personal needs. In fact, so impressed was Mr. Buffett by NetJets’ service, that he acquired the whole company in 1998. As a wholly owned subsidiary of Berkshire Hathaway Inc., NetJets is the most financially sound aviation company in the world.

NetJets offers guaranteed availability, 24 hours a day, 365 days a year. As a NetJets owner, you can call for your aircraft and have it available at any one of nearly 5,000 general aviation airports in the United States and Europe in as little as four to six hours. The NetJets program allows companies and individuals to buy as little as a one-sixteenth share in a jet, which gives them 50 hours a year in the air. They have all the benefits of private business aircraft at a fraction of the cost of whole aircraft ownership.

More information about NetJets is available through the NetJets website at www.netjets.com

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