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Portsmouth, NH, September 30, 2005

Chartworth and Aviation Management Systems Advise Casino Express Airlines in Management-Led Buyout

TEM Enterprises dba Casino Express (CEX), a privately owned charter airline based in Elko, Nevada, was sold to a buyer group comprised of CEX management, Avion Group, a leading international transportation solutions group based in Iceland, and a European private investor group.  Portsmouth NH based Aviation Management Systems (AMS) and Chartworth provided technical and financial advisory services to the selling shareholder.  Chartworth represented the seller in the valuation, structuring and sale of the company.

The partnership between Chartworth and AMS proved to be a powerful and unique combination in advising CEX on both aviation and investment banking matters.  The sale of CEX was the culmination of a two and a half year relationship starting with AMS consulting to the CEX shareholder.  “We created a lot of options for selling CEX; we created lot of competition for the company,” according to Vlad Harris, principal of Chartworth.  “In this transaction, everyone is a winner: the company, the sellers the CEX management team and their investors.”  Terms of the transaction were not disclosed.

According to Lisa Dunn, Chairman of the Board of Directors and President of CEX, Casino Express will continue to operate charter flights out of its base in Elko, Nevada, on behalf of Nevada based casinos.  Casino Express currently averages 40 flights per month, bringing 60,000 tourists to Nevada each year.  The sale of CEX to its management, in partnership with knowledgeable international aviation investors provides CEX as a certified FAR Part 121 operator with new strategic opportunities.  These include plans to upgrade and expand its aircraft fleet.  All of the management and employees of CEX continue to work for the company.

About Chartworth

Chartworth provides corporate finance, investment banking, business development and management consulting services to entrepreneurial companies.  The firm specializes in helping businesses in transition build and realize corporate value.  All investment banking and securities activities are conducted exclusively through Chartworth Capital, LLC, an affiliate of Chartworth.  Chartworth Capital, LLC is a member of the NASD and SIPC.

About Aviation Management Systems

Aviation Management Systems, a diversified aviation consulting group, assists clients in both commercial and business aviation markets.  Services include management consulting, appraisals, inspections, technical management as well as market research and project development. AMS and Chartworth partner to provide their combined services to the aviation industry.

For Further Information

Vladimir Harris 
Phone: 603.766.0478
Email: vharrisatchartworthdotcom

Lee Rohde
Aviation Management Systems, Inc.
603.431.3362 x117
Email: lrohdeatamsconsultantsdotcom

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