AEROSVIT UKRAINIAN AIRLINES JOINS THE
U.S.-UKRAINE BUSINESS COUNCIL (USUBC)

U.S.-Ukraine Business Council (USUBC)
Washington, D.C., Wednesday, June 25, 2008

WASHINGTON, D.C. - The executive committee of the U.S.-Ukraine
Business Council (USUBC), on behalf of the entire membership, is most
pleased to announce that AeroSvit Ukrainian Airlines has been approved
for USUBC membership.  The airline is USUBC member number 86.

AeroSvit is the leader of the national air transport industry in Ukraine and
is the only Ukrainian carrier directly connecting Ukraine with the United
States.  This is through their non-stop flight from Kyiv to New York City.

AeroSvit is interested in the further development of Ukraine-U.S. relations
and in expanding their flight operations related to connecting Ukraine with
the U.S.

AeroSvit was founded in 1994 as a closed joint-stock company (CJSC).
In October 1994, AeroSvit leased its first Boeing-737, which was used
to perform flights from Kyiv to the capitals of Russia, Israel, and Greece
as well as to Larnaca (Cyprus) and Odesa.

In 2002-2004, the company opened five direct transcontinental flights
between the capital of Ukraine and Bangkok, New York, Toronto, Delhi,
and Beijing.

AeroSvit Ukrainian Airlines in 2007 signed an agreement with the Boeing
Company concerning purchase of up to 14 NG (next generation) Boeing
737's.

USUBC has been working with AeroSvit executives Aron Mayberg,
Director General, Kostadin Botev, Executive Director and with Yevgen
Treskunov, Deputy Director General for Strategic Development.  Mr. Botev
attended a recent meeting in Kyiv with U.S. Ambassador William Taylor
sponsored by USUBC.

PASSENGER TRAFFIC EXCEEDED 2 MILLION IN 2007

In 2007, the total volume of passenger traffic on AeroSvit Ukrainian
Airlines exceeded the two million mark for the first time. The airline
carried 2,054,000 passengers by the end of the year, which is an increase
of 31.5% over 2006. AeroSvit's passenger turnover increased by 27.4%
to 4.5 billion passenger-kilometers.

Taking into account the dynamic growth of indicators following the results
of 2007, AeroSvit expects a further increase of its position in the most
prestigious aviation rating- the Top-200 list of the world's largest
airlines.

This list is updated each year based upon annual volumes of traffic
performed by the aviation market's leading players and is published
in several top industry journals. Based on the results of 2006, AeroSvit
rose by 20 positions in the Top-200 and was ranked 155.

Ukraine was included in the Top-200 for the first time three years ago when
AeroSvit was named on the list of air carriers for the first time. During
the past three years, the company has managed to advance by 45 positions.

AEROSVIT AND BOEING

AeroSvit Ukrainian Airlines signed an agreement with the Boeing Company
in 2007 concerning purchase of up to 14 NG (next generation) Boeing 737's.

The document stipulated the purchase of seven Boeing 737-800's in
2011-2012 the value of which according to the manufacturer's catalogue
reaches US$523 million as well as reservation of purchase rights for another
seven aircraft between 2008-2015. The contract price of the aircraft
delivery was not disclosed.

Boeing would also provide AeroSvit with technical training, marketing, and
financial assistance during aircraft commissioning. This support package
applies not only to the purchased aircraft but also to the NG Boeing
737's AeroSvit plans to lease.

This is the first direct contract for the delivery of such a large
consignment of next generation aircraft in the history of Ukraine.

"Fleet renovation and extension by means of Boeing 737 NG aircraft will
allow AeroSvit to implement its development strategy as well as raise its
competitiveness while preparing for future Ukrainian air space
liberalization," noted AeroSvit's Director General Aron Mayberg.

"I am sure that this contract will start the process of Ukraine's gradual
development into one of the world's leading aviation countries. I am glad
that we have the honor to make this first important step showing the high
potential of Ukraine as a competitive country with established market
relations to the entire world".

AeroSvit Ukrainian Airlines operates sixteen Boeing aircraft , including
thirteen middle-range Boeing 737's and three long-range Boeing 767's
(seventeenth B 737-300 is to be delivered within a couple of weeks).
The carrier serves more than 60 international routes to 33 countries as
well as 11 destinations within Ukraine.

AeroSvit is a member of many international organizations, namely:

. International Air Transport Association (IATA), including IATA
  Clearing House and IATA Billing and Settlement Plans (BSP),
. US Airlines Reporting Corporation (ARC)
. Association of European Airlines (AEA)
. European Business Association (EBA)
. American Chamber of Commerce in Ukraine (AmCham Ukraine)
. International Chamber of Commerce (Ukrainian national committee)
. UK Flight Safety Foundation
. The Ukrainian Chamber of Commerce & Industry (UCCI)
. U.S.-Ukraine Business Council (USUBC)

Additional information can be found on the AeroSvit Airlines website:
http://www.aerosvit.ca/e_us.html.

"The U.S.-Ukraine Business Council (USUBC) is most pleased to have
AeroSvit Ukrainian Airlines join the rapidly expanding USUBC membership."
said Morgan Williams, SigmaBleyzer, who serves as President of USUBC.

USUBC MEMBERSHIP NOW TOTALS EIGHTY-SIX

AeroSvit Ukrainian Airlines is the 86th member for USUBC, the 34th new
member for 2008, and the 64th new member since January of 2007. USUBC
membership has nearly quadrupled in the past 18 months, going from 22
members in January of 2007 to 86 members in June of 2008. Membership
is expected to top 100 very soon.

The other new members in 2008 are MaxWell USA, Baker and McKenzie
law firm, Och-Ziff Capital Management Group, Dipol Chemical International,
MJA Asset Management, General Dynamics, Lockheed Martin, Halliburton,
DLA Piper law firm, EPAM Systems, DHL International Ukraine, Air Tractor,
Inc., Magisters law firm, Ernst & Young, Umbra LLC., US PolyTech LLC,
Vision TV LLC, Crumpton Group, American Express Bank, a Standard
Chartered group company, TNK-BP Commerce LLC, Rakotis, American
Councils for International Education, Squire, Sanders & Dempsey LLP,
International Commerce Corporation, IMTC-MEI, Nationwide Equipment
Company, First International Resources, the Doheny Global Group, Foyil
Securities, KPMG, Asters law firm, Solid Team LLC, R & J Trading
International and Vasil Kisil & Partners law firm.

The complete USUBC membership list and other information about
USUBC can be found at: http://www.usubc.org.

BUSINESS INVESTMENT DRIVES UKRAINE'S INTEGRATION

Ukraine's Euro-Atlantic integration is first and foremost today being driven
by the private business community in Ukraine, Europe, and the United States.

"Ukraine's aspirations for Euro-Atlantic integration, to be a major member
of the world's community of strong, democratic, independent, prosperous,
private business sector driven nations, will be realized largely through the
present leadership and investments from the business community and then
hopefully with some real support later from the politicians and government
leaders," wrote Morgan Williams, SigmaBleyzer, who serves as President
of USUBC, in a recent article published by the "Welcome to Ukraine"
magazine.

"While the politicians of many countries, including Ukraine, argue and debate
about whether Ukraine should ever be given a MAP for eventual NATO
membership and when, if ever, Ukraine will have the opportunity to join
the European Union the Ukrainian and international business communities
are moving rapidly ahead with large-scale economic and business
integration."

"This integration is being accomplished in spite of a general lack of new
reforms being implemented by the government and the high level of political
instability that has existed for the last several years which has hurt the
number of new jobs created, the level of wages, the development of a
modern business infrastructure and the creation of wealth, " according
to Williams.