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AIRSURE Ltd.

August 10, 2005

Mr. Robert Bornhofen
Excel-Jet, Ltd.
590 Highway 105, #279
Monument, CO 80132
Dear Bob; Thank you for having me down for the recent unveiling of the Sport Jet. As promised, you have delivered an unbelievable aircraft implementing all of the features the insurance companies are concerned about as they consider the new very light jets (VLJ) coming to market.

We had a meeting with the CEO of Phoenix Aviation Managers earlier this week and had a chance to review your project with him. Phoenix is a large insurer of domestically owned corporate and owner flown jets and will be focusing on the VLJ market. We have also been in discussion with the other insurers in our industry and they are very excited and watching this project closely.

As the largest broker of General Aviation in the United States, we have an opportunity to work with many new aircraft coming to the market and are honored to be working with your organization. I was extremely impressed with tthe ramp appeal of the aircraft. Still, as you had promised, the aircraft utilized a very proven and stable mid-wing design which is favored by the insurers around the world. In addition, the ease of use with a single engine incorporation the FADEC system will be relatively fool proof for lower time pilots. The four seats and wide cabin design along with the low stall speeds will also create greater acceptance by the underwriters and General Aviation Consumers. The greatest concern the underwriters have with the other VLJs coming to market is the fact that low time pilots will be commingling with all of the other, faster jets at flight levels never experienced by them before. By maximizing your flight regime to 25,000 feet or less, you have taken that concern out of the minds of the underwriters as well.

Market acceptance for your aircraft should be tremendous and we are behind you 100%. Weighing in all the factors which are considered for a new aircraft coming to market, we feel encouraged that you have developed a product for which we will have no problem developing competitive insurance rates.

Good luck going forward!

All the Best,
John D. Lord
AirSure Limited

AIRSURE Ltd.

August 23, 2003

Mr. Robert Bornhofen
Excel-Jet, Ltd.
590 Highway 105, #279
Monument, CO 80132
Dear Bob;

Through the thirty years in the aviation business, I have been asked by clients to review marketing plans, designs for new developing aircraft, business mergers, new General Aviation products and other assorted services intended for the General Aviation market. I am therefore honored that you would ask my opinion of the marketability and insurability of your new aircraft, the Sport-Jet, single engine turbo-jet aircraft. As the largest General Aviation insurance broker in the U.S., we see a number of concepts for new aircraft, most of which do not appear to us to hold much promise for marketability to the General Aviation buyer or are just not feasible for us to insure upon completion, for the target market.

The aircraft specifications of your Sport-Jet, mainly focusing upon the range, seating capacity, landing and stall speeds as well as the mid-wing design, all tend to be favored by insurers as most likely being easier to fly and therefore safer to operate for General Aviation pilots. Obviously, the BRS parachute system, in addition to all the other factors above, is definitely looked upon as a plus.

Aviation insurers are facing several new aircraft destined to enter the market in the near future, but the pricing, operating specification and seating capacity lend those aircraft to be flown by professional pilots or at least very highly qualified owner pilots. Those aircraft, namely the Cessna Mustang, Adams A-700, Eclipse, and Safire are aircraft which are also turbine powered by two engines with higher seating capacities, both factors suggesting to aviation insurers that pilots who operate these aircraft require higher levels of experience and stricter underwriting. Therefore, the premium charged will be higher by aviation insurers and the underwriting requirements for pilot experience and training will also be more demanding than your Sport-Jet.

It appears at this initial review, the Sport-Jet will be well received in the market and replace a number of similarly priced aircraft but with newer technology, faster speeds, greater range, and in the event needed, the parachute recovery system. Weighing all these factors which are considered for a new aircraft at this stage, I encourage you to continue developing the Sport-Jet as it should meet with acceptability from the aviation insurers as well as the consuming General Aviation buyers.

Best of luck in your endeavor!
Bill Behan,
President