C-S Aviation Considers Strategic Alternatives toBroaden Competitive Advantage.

NEW YORK--(BUSINESS WIRE)--March 4, 1999--C-S Aviation Services Inc. (CSAS), a leading manager of leased commercial aircraft, announced that it has retained Morgan Stanley Dean Witter to consider strategic alternatives, including a sale of the company and its managed portfolio, to better leverage

"We continue to believe that the commercial aviation marketplace represents a significant growth opportunity, particularly for broad-based, well-capitalized players. To optimize that opportunity, our owners have authorized management to explore a variety of possible transactions including sale of the company and establishing strategic alliances," said Bharat Bhise, president and chief executive officer of CSAS.

C-S Aviation Services currently manages a portfolio of 60 aircraft, including 15 Airbus A300 freighters, 13 Airbus A300s scheduled for conversion to freighters, 4 Boeing 727-200s, 10 Boeing 737-200s, 5 MD-82s and 13 Boeing 727-100s. CSAS also manages selected aviation-related assets, including investments in publicly traded airline stocks and maintenance, repair and overhaul facilities.

The company helped launch the world's first A300B4 freighter conversion program, along with its strategic partner, British Aerospace Aviation Services, with issuance of a supplemental type certificate by the FAA in June 1997.

Visit the company's Web site at www.csaviation.com.