TULSA, Okla. and FT. LAUDERDALE, Fla., June 22, 2004 (PRIMEZONE) -- Berkshire Collection Inc. (Pink Sheets:BKRCF) has successfully completed a merger agreement with Eagle Aero Holdings Corp. Headquartered in Tulsa, Oklahoma with offices in Fort Lauderdale, Florida, Eagle Aero Holdings plans to acquire developmental regional carriers in the United States and Caribbean.
Subsequently, upon completion of certain contractual obligations, Mr. Robert Doherty will resign as Chief Executive Officer, and Lee R. Snider has accepted the CEO position, as well as the Chairman of the Board. Mr. Snider is an industry professional with over 21 years in the aviation industry. Also, joining the company as President is Stuart A. Carnie. Mr. Carnie has spent the last 10 years in the aviation industry providing aircraft and financing to private and publicly held airlines worldwide.
Lee R. Snider stated, "I'd like to congratulate the entire team at Eagle for all of their efforts in bringing the company to the public marketplace and completing the merger with Berkshire." Stuart A. Carnie, company President, added, "We feel that the business model that has been created for Eagle is one that lends itself not only to continued growth in the aviation industry, but also in the investment community."
Eagle Aero Holdings Corp. plans to acquire regional airline carriers and aviation related projects. The acquisition of independent regional and medium haul international carriers that have existing contracts or pending contracts with major airlines will allow Eagle Aero Holdings Corp. to capitalize on the strengths of each carrier and eliminate weakness by integrating a standard of operation throughout the system which will create increased value in each property. Currently there are multiple properties that the company has identified that are available for acquisition. Additionally, there are developmental projects that the company has identified that would further increase shareholder value and bottom line profits of the company. With a strong background in the airline industry and the public markets, the management of Eagle Aero Holdings Corp. has the ability to make the company a driving force in the United States and beyond.
CAUTIONARY STATEMENT: This news release may include forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act as amended, and/or the U.S. Private Securities Litigation Reform Act of 1995. All statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements that involve various risks and uncertainties. All forward-looking statements in this release are expressly qualified by this notice.