WEST CHESTER, PA, August 8, 2005 - Keystone Helicopter, an industry leader in helicopter services for 51 years, has received American International Group (AIG), Aviation Division's "Operational Excellence Award". Created by AIG in 1998, this award recognizes operators possessing "a strong sense of duty towards safety with a proven track record of superiority in the field". AIG is an international leader in Insurance and Financial Services. This Award spotlights Keystone's Flight Services Division, who have flown over 100,000 accident free hours!

This award puts Keystone Helicopter in the company of organizations such as Volkswagen and Home Depot, other safety minded companies who have received this award from AIG.

One of the most significant things about this achievement is it was accomplished over 13 years. "The exposure factor in the flights we complete is much greater than aircraft flying other missions or longer distances," states Dave Ford, President of Keystone Helicopter, "our flights are completed in an extremely demanding environment with challenging circumstances. This award highlights our dedication to and focus on safety, and our investment in training, which is reflected in the professionalism of our Flight Team. We are totally committed to Safety, Quality and FAA Compliance."

About Keystone Helicopter Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, Keystone operates a large technical services depot and completion center near Philadelphia. The firm also operates a large fleet of turbine helicopters in numerous locations across several eastern states, primarily in the air medical mission. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Additional information is available online at: www.keystonehelicopter.com and at www.rangeraerospace.com.

"DIGGING IN FOR LONG TERM GROWTH"

COATESVILLE, PA, July 8, 2005 - Keystone Helicopter, an industry leader in helicopter services for 51 years, broke ground this week on the next phase of what will be one of the largest, most sophisticated independent maintenance, repair, modification and technology development centers dedicated exclusively to rotorcraft in the country. This helicopter depot reflects the unprecedented growth Keystone Helicopter has enjoyed over the last several years and will be so advanced and outfitted with such state of the art technical capability it has already become known within the industry as the Keystone "Heliplex."

The company's senior management, several local elected officials, as well as representatives from the Chester County Business Development Commission were on site to celebrate and take part in the ground breaking ceremony.

"The Heliplex's construction was necessitated by our robust growth over the last four years," stated Robert Ferrucci, Vice President-Engineering of Keystone's parent holding company, Keystone Ranger Holdings ("Ranger"). Ferrucci has been the primary Project Officer for the Keystone Heliplex since its inception, and he further noted: "We designed the facility from the customer's perspective, investing heavily in new shop capabilities, and making sure the layouts would be more conducive to efficient, timely work flows. Our ISO-9000 initiatives and Kaizen innovations have helped along the way. New engine test cells, modernized shops, and improved IT systems will all serve our customers' needs better. And we have room on this new site to grow in place literally for decades to come. Our location in the heart of the Northeastern USA business corridor bodes well for continued expansion and market share."

David Ford, President of Keystone Helicopter said, "We've increased annual sales from $38.7 Million in 2000 to an unprecedented tripling to nearly $125 Million for 2005; more than doubled employment to over 600 people, and expanded our fleet from 25 to 36 helicopters. We have outfitted "green" completions on more than 70 new turbine helicopters for customers such as Sikorsky Aircraft Corporation and Agusta Aerospace; by the way, that's more than any other independent rotorcraft completion center in the world!"

Keystone Helicopter Corporation is an FAA and European Aviation Safety Authority (EASA) licensed rotorcraft repair station that has grown in 5 decades to be one of the strongest technical franchises in the helicopter services industry. 75% of Keystone's revenues are derived from its many repair, engineering, and technical services activities. They perform highly complex maintenance and other work on behalf of such manufacturers as Agusta Aerospace, Bell Helicopter, Eurocopter, Honeywell, Rolls Royce engines, Sikorsky Aircraft, and Turbomeca engines. Keystone's Engine Services Division handles sophisticated turbine engine overhauls.

KeyTech, the company's engineering division with 42 engineers (including six FAA licensed Designated Engineering Representatives) is one of only 34 FAA certified Designated Alteration Stations (DAS) world wide, in any segment of the aerospace industry, and is an important differentiator for Keystone in the rotorcraft field.

The Flight Division is one of the largest air medical transport operators in the NE United States, with over 150 highly experienced pilots and mechanics in the field, at 28 operating sites where the company acts as the turn-key flight department for many major hospitals.

"We are customer focused with a commitment to quality and safety that is displayed in action not words," said Steve Townes, CEO of Keystone Helicopter and founder of Ranger Aerospace. "This rotorcraft enterprise is on the move, destined for so much more in the future. These new facilities give us a real competitive edge, allowing the company to truly take off." Keystone alone, excluding other Ranger operations, does over 550,000 man-hours per year of varied technical services for hundreds of helicopters.

Other achievements over the last several years that were pointed out during the Shovel Ceremony were:

About Keystone Helicopter and Its Affiliates

Keystone Helicopter is one of the largest and oldest helicopter services companies in the United States. Founded in 1953, the firm operates a large technical services depot and completion center near Philadelphia. It also operates a large fleet of turbine helicopters in numerous locations across several eastern states, primarily in the air medical mission. Keystone Helicopter is owned by Keystone Ranger Holdings, Inc., a Philadelphia-area private equity investment organization that specializes in aviation-related ventures. Keystone Ranger also owns Composite Technology, Inc. (CTI) with operations in Texas, Canada, Brazil, England, and Singapore. Institutional investment groups with Keystone Ranger include Meridian Venture Partners, Brown Brothers Harriman, Argosy Investment Partners, Spring Capital and Merion Capital. Private shareholders include Ranger Aerospace LLC, the Wright Family, and all officers in senior management. Additional information is available online at: www.keystonehelicopter.com , www.rotorblades.com, and at www.rangeraerospace.com.

About Ranger

Ranger Aerospace LLC is a privately held investment and management holding company with private equity institutions, venture capital companies and management as shareholders. Keystone Ranger Holdings is the rotorcraft services consolidation vehicle created by Ranger in 2001. Ranger's previous consolidation venture was the successful airfield services company Aircraft Service Intl Group ("ASIG") which now has over 8000 employees. Ranger and its co-investors add value to acquired companies via seasoned veterans experienced in aviation services, aerospace programs, engineering, finance, corporate development, MIS, marketing and strategic planning, Total Quality Management, mergers and acquisitions, post-merger integration and turnarounds. Additional information is available online at www.rangeraerospace.com . Forward Looking Statements: The Company from time to time may discuss forward-looking information. Except for factual historical information, all forward looking statements are estimates by the Company's management and are subject to various risks and uncertainties that are beyond the Company's control and may cause actual results to differ materially from management's expectations.

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Guests at Keystone Helicopter's Silver Shovel ceremony for the new Heliplex:

Doug Doratt -Sadsbury Township Vice Chairman Board of Supervisors

Gary Smith - President/CEO, Chester County Economic Development Council

Tim Connor - Dir of Business Development, Chester County Economic Development Council

Doug Howe - Doug Howe, D. Howe & Sons Construction, Inc

WEST CHESTER, PA, June 23, 2005 - Keystone Helicopter, an industry leader in helicopter services for 51 years, joined Boston MedFlight and members of New England's medical community at The Seaport Hotel in Boston on June 2, to celebrate the air ambulance service's 20th anniversary. Boston MedFlight, a CAMTS-accredited Critical Care Transport service, supports the tertiary care services of Boston's major hospitals. Keystone Helicopter's Flight Services division has been with them from Day One.

Looking back on twenty years with Keystone Helicopter, Suzanne Wedel, Boston Med Flight's CEO, observed, "There are two issues that are critically important in our relationship. First, safety is at the core of our culture. Keystone's pilots and mechanics not only understand this emphasis, they share it.

"Second, they tell us what we need to hear. When Larry Adams and his people spend our money, it's on mission-critical technology and service. They know we're looking for value."

Keystone Helicopter's Flight Services division is one of the largest, most sophisticated air medical operations in the eastern U.S., providing pilots, mechanics and maintenance support from 28 sites located in Ohio, Pennsylvania, Massachusetts and Maine. This includes University MedEvac, an air medical transport group serving Lehigh Valley Hospital and Hahnemann University Hospital in Philadelphia. University MedEvac has worked with Keystone Helicopter since 1981 in what Hal Spatz, Program Director, calls "a successful 25-year relationship." Storm Nagle, Program Director at Conemaugh Memorial Hospital in Johnstown, notes, "We're worked with them for ten years and they have excellent pilots."

David Ford, Keystone Helicopter's President, summed it all up when he said, "Our air ambulance customers can focus on the critically ill and injured, knowing we'll take care of the transport."

"These long-term relationships speak well of our pilots and technicians," said Steve Townes, CEO of Keystone Ranger Holdings and founder of Ranger Aerospace.

About Keystone Helicopter

Company's Flight Services division teams with longstanding customer to support state's air medical mission.

WEST CHESTER, PA, June 23, 2005 - Keystone Helicopter, an industry leader in helicopter services for 51 years, has teamed up with University MedEvac to open New Jersey's first commercial-licensed air medical base. Keystone Helicopter's Flight Services division is one of the largest, most sophisticated air medical operations in the eastern U.S., providing pilots, mechanics and maintenance support from 28 other sites located in Ohio, Pennsylvania, Massachusetts and Maine.

University MedEvac, an air medical transport group serving Lehigh Valley Hospital and Hahnemann University Hospital in Philadelphia, had previously provided emergency backup for the New Jersey State Police. "Our mission hasn't really changed," said Hal Spatz, University MedEvac's Program Director. "The state police will still get the calls first and we'll provide timely response and backup except we're closer now so response and flight times will be faster." The new air medical base is strategically located at Hammonton Municipal Airport in Atlantic City and will serve AtlantiCare Regional Medical Center, the region's only Level II Trauma Center. The team will begin with a Eurocopter BK117, flown by a single pilot and backed by IFR, although both companies expect to add helicopters and personnel as demand increases.

"Hal Spatz really put this deal together," said Larry Adams, Keystone Helicopter's Vice President -Flight Services. "We've worked with University MedEvac for 25 years and we're excited to take on this new challenge with them. Plus, we're staffing the base with Keystone Helicopter pilots and technicians who live in New Jersey."

David Ford, Keystone Helicopter's President, said, "Our experience and longstanding relationship with University MedEvac gave us the critical edge in securing this assignment. We plan to do much more in New Jersey."

About Keystone Helicopter

Cassandra Lam joins five other DERs at company's Keytech division. Keytech, a DAS licensee, growing steadily as a business.

WEST CHESTER, PA, June 21, 2005 - Keystone Helicopter, an industry leader in helicopter services for 51 years, announced that Cassandra Lam, a structural engineer with the firm's Keytech division, has received her FAA DER certification.

One of six DERs in the division's group of 42 engineers, Ms. Lam will sign off on STCs for Sikorsky and Agusta completions. "When Cassandra joined us four years ago, we recognized her potential immediately," said Jim Munda, Keystone Helicopter's Vice President-Engineering. "Now, with additional experience and training, she's fully authorized to sign off on projects, to speed throughput and minimize downtime for our customers." Ms. Lam joined the company from SEOS Displays. She received her B.A. in Mechanical Engineering from SUNY Binghamton and her Master's from the University of Arizona. KeyTech is an FAA Designated Alteration Station with capabilities in structures, avionics, design engineering, systems, software and flight testing. The division meets certification requirements including STC, TSO, PMA, and FAA-DER approved data for 337s.

"This certification is another example of our commitment to expanding our DAS capabilities," said David Ford, Keystone Helicopter's President. "In 2001, we had 14 people in engineering and today Keytech has more than tripled that."

"Giving our people the support they need to advance is a key part of our growth strategy," said Steve Townes, CEO of Keystone Ranger Holdings and founder of Ranger Aerospace. "Our engineering teams' continuing growth gives us unique technical and competitive advantages."

About Keystone Helicopter

WEST CHESTER, PA, June 21, 2005 - Keystone Helicopter, an industry leader in helicopter services for 51 years, has appointed Joe Tauber Vice President --Human Resources and Support Services.

In addition to his current recruiting and human resources duties, Mr. Tauber will oversee Composite Technology Inc.'s human resources functions. Keystone Ranger Holdings, Keystone Helicopter's parent company, acquired CTI last year and the company is in the process of standardizing policies and integrating benefits. Mr. Tauber will also be responsible for facility safety, environmental compliance, insurance, benefits and other support functions. Prior to his appointment, he was Director of Human Resources.

David Ford, Keystone Helicopter's President, said, "Joe drives the company's efforts to recruit, retain and develop the people who constitute our competitive advantage. We're counting on him as we expand our workforce to move into new markets."

"Joe knows that quality, safety and FAR compliance aren't just words we start meetings with," said Steve Townes, CEO of Keystone Ranger Holdings and founder of Ranger Aerospace. "He's led the way as our workforce has tripled in less than four years, which makes this is a well-deserved promotion."

About Keystone Helicopter

WEST CHESTER, PA, February 2, 2005 -- Keystone Helicopter, an industry leader in helicopter services for 51 years, has appointed Jim Munda Vice President of Engineering and Darrell Jones Vice President of Completions.

Mr. Munda will be responsible for the company's DAS activity, business development and FAR compliance for all modifications, while maintaining communications with the FAA and major OEMs. Prior to his appointment, he was KeyTech's Division Manager of Engineering and DAS Administrator.

Mr. Jones will be responsible for green completions and the company's S-92 program, which has shown dramatic growth in the U.S. and overseas. Prior to his appointment, he was Director of Aircraft Completions, working on the S-76, BK-117 and S-92 final assembly and VIP conversions programs.

Dave Ford, Keystone Helicopter's President, said, "Jim and Darrell bring heavyweight ops experience to their new jobs. They'll drive growth while keeping the focus where it needs to be--on quality, safety and customer satisfaction."

"It's great to see good people move up through the ranks like this," noted Steve Townes, Chairman and CEO of Keystone Ranger Holdings, Keystone Helicopter's parent company. "Their promotions underscore our commitment to both our OEMs and customers."

WEST CHESTER, PA, February 7, 2005 - Keystone Helicopter, an industry leader in helicopter services for 51 years, recently provided green completions on three A109E POWERS and two A119 KOALAS to Agusta Aerospace Corporation, helping the OEM handle a strong surge in year-end orders.

According to Steve Schofield, Sales Manager for Completions/Refurbishments, the company's work included wiring, floats, intercoms, global positioning systems and navigation systems. "This was the perfect opportunity for us to do what we do best, which is taking an industry-standard platform and adapting it for even more robust applications."

"We've worked closely with Agusta for many years, but on only on an occasional basis," said Steve Townes, Chairman and CEO of Keystone Ranger Holdings, Keystone Helicopter's parent company. "Now we'll put our considerable resources at Agusta's disposal, just as we've done for other prime manufacturers."

WEST CHESTER, PA, February 2, 2005 - Keystone Helicopter, an industry leader in helicopter services for 51 years, has expanded its accessories capabilities on both the Rolls-Royce 250 and Honeywell LTS 101 engines.

The company has invested more than $500,000 in tooling and test equipment to become a Honeywell-authorized Repair and Overhaul facility. According to Ralph Kunz, Keystone Helicopter's Vice President of MRO, adding accessories capabilities has allowed Keystone Helicopter to offer a wider range of product offerings on the RR 250 engine, while supporting the LTS 101. "Our factory-trained accessories technicians average twenty-plus years on the job," he noted. "Their troubleshooting ability is excellent and we've made sure they have the tools and training to stay on top of new developments."

Keystone Helicopter is an Authorized Rolls-Royce Maintenance Center for 250 series engines. The Engine Services Division recently moved into the company's new Heliplex, a 52,000 SF state-of-the-art rotorcraft services facility in Coatesville, Pennsylvania, which features a test stand and SOA test cell. "We'll be closing on some major contracts this year," Kunz said. "Adding accessories allows us to do more for our customers, which makes us the logical single-source service provider for engines."

"We're big believers in organic growth and these added capabilities prove it," said Steve Townes, Chairman and CEO of Keystone Ranger Holdings, Keystone Helicopter's parent company. "Doing more for existing customers, even as we develop new customer relationships, is an integral part of our plans for growth."

Keystone Helicopter has a sizable inventory ready for exchange. For assistance, email Fawn Blevins at fblevins@keystonehelicopter.com or call 610.883.4591.

WEST CHESTER, PA, February 3, 2005 - Keystone Helicopter, an industry leader in helicopter services for 51 years, will introduce its new Silencer™ airframe at this year's HAI Heli-Expo.

According to Jim Munda, Keystone Helicopter's Vice President of Engineering, the retrofit technology will work in virtually any rotorcraft. "It's a substantial improvement on the popular Cocoon system," he said. "Silencer gives you significant noise suppression inside the cabin and improved structural integrity, with no loss in fuel efficiency."

The system uses an advanced carbon fiber skeletal structure that incorporates AC ductwork as structural cross members and attaches to the airframe with isolators. The outer framework supports the interior for improved rigidity and reduced vibration, while permitting easy access for airframe inspections and allowing room for an acoustic blanket.

Keystone Helicopter will display an S76 mockup featuring the Silencer at this year's HAI Heli-Expo. The mockup will include design panels that detach for maintenance access and feature sealed, edged cutouts for gaspers, lights and switch panels. All gaspers and lighting mount on the skeletal framework instead of being directly installed on the airframe.

"The Silencer program is a perfect example of the steady incremental improvements we pursue at Keystone Helicopter," said Steve Townes, Chairman and CEO of Keystone Ranger Holdings, Keystone Helicopter's parent company. "It's an ideal retrofit for virtually any airframe and makes a substantial contribution to improving ride quality."