Fastjet chooses Airbus

Lonrho advises that Rubicon Diversified Investments Plc has today made the following news/media release:

"Rubicon Diversified Investments Plc

("Rubicon" or the "Company" or "FastJet"; AIM: RUBI)

FastJet chooses Airbus A319 to launch low cost African airline

Rubicon today announces it has chosen the Airbus A319 aircraft to launch its new low cost carrier, FastJet, across Africa, with the first aircraft expected to carry passengers by October. FastJet will operate under a brand licence agreement with easyGroup Holdings Limited ("easyGroup") and Sir Stelios Haji-Ioannou, founder of leading low cost airline, easyJet.

Commenting on the announcement, Rubicon Chief Executive Ed Winter, said:

"The decision to launch FastJet with the Airbus A319 enables us to expand rapidly with each aircraft potentially carrying around 250,000 passengers a year. Rubicon expects passenger numbers to double from current levels within six months of the introduction of the A319 fleet.

"We plan to add at least five leased Airbus A319 aircraft to the fleet within six months of launch and up to 15 within a year."

John Leahy, Airbus Chief Commercial Officer Customers, added:

"We are delighted that FastJet has chosen the A319 as the basis for its fleet, a further endorsement for the efficiency and reliability of Airbus' market leading single aisle family of aircraft.

"FastJet will open up low cost travel to the African market, and the Airbus A319 will bring new levels of comfort to air passengers across Africa. It is a great combination."

The Airbus A319 has proven itself an ideal aircraft for the low cost airline model in other parts of the world. The 156 seat A319 was initially chosen after an extensive evaluation of a wide range of options and is ideally suited to the Company's expansion plans. Leasing aircraft on operating leases enables the airline to match its rate of growth closely to market requirements.

The first aircraft will be leased from Nomura Babcock Brown Co., Ltd. (BBAM Aircraft Management LLC), and is scheduled for delivery in September/October. BBAM is the world's third largest aircraft lessor, managing a portfolio of over 450 aircraft. Negotiations on further aircraft deliveries later in the year are underway.

Rubicon announced on 29 June the successful completion of its deal with Lonrho Aviation and its airline Fly540, providing the merged group with existing aviation platforms in Ghana, Kenya, Tanzania and Angola. Lonrho Plc owns 74.9% of the London-listed aviation business and Stelios' easyGroup will own 5%.

David Lenigas, Executive Chairman of Rubicon and of Lonrho Plc, stated:

"FastJet has already stated its intent to raise the bar on air safety in Africa by operating its aircraft under the same strict rules that apply to European carriers. To this end, we expect to sign an agreement with a major European MRO (Maintenance, Repair and Overhaul) company for the maintenance of its new A319 fleet in the coming months."

"Our management team has been actively engaged in detailed discussions with a number of Governments to lobby for incentives and reduced passenger taxes, factors that will affect our final decision on where to deploy the first A319s."