Fly The Wave - Warrior (Aero-Marine) Ltd.

US/UK JOINT PROJECT RECEIVES FUNDING TO BUILD PROTOTYPE
AMPHIBIOUS AIRCRAFT
AMPHIBIANS MAIDEN FLIGHT SLATED FOR FIRST QUARTER OF 2003

SCARBOROUGH, MAINE (February 27, 2002) Funding from the Maine Technology Institute (MTI) and the UK Department of Trade and Industry (DTI) has been given to Warrior (Aero-Marine) Ltd and its wholly owned US subsidiary, Warrior (Aero-Marine), Inc., for the development of a prototype amphibious aircraft called the Centaur.

MTI has awarded a $500,000 Development Award to Warrior (Aero-Marine), Inc., which is one of the largest awards ever given by MTI. The award will be used to expand Maines composite sector and draw upon the expertise of the composite lab at the University of Maine, Orono. The DTI Smart Exceptional Award for 450,000 is also highly competitive with only ten awards being given each year. In addition, private investors have demonstrated their faith in the program by committing a further $2.9 million in cash and services to, giving the Warrior program nearly $4.0 million to build the first aircraft. The recent funding will allow Warrior to move forward to the Centaurs first flight in 2003.

The Centaur is a six-seat, single piston engine aircraft designed with hull geometry that has been derived from the world of multi-hull racing yachts, enabling the aircraft to operate with much lower engine power than other seaplanes and to operate smoothly in 80 percent rougher water. The boat handling concepts, which include folding wing capability, enable the aircraft to maneuver on water just like a 40-foot boat, accessing berthing facilities that are denied to all other seaplanes. Its all-composite structure allows it to operate on salt water without fear of corrosion, unlike conventional aluminum seaplanes.  The Centaur is expected to replace existing seaplanes, landplanes, helicopters and even boats, as well as create the opportunity for aviation to become independent of and move beyond airfield constraints.

Successful test programs have already been completed using dynamically accurate fifth-scale models. Warrior is now confirming the aircrafts detailed design using CATIA software, which is the premier design software for 3-D design of aircraft, automobiles and ships, among others. All major aircraft developers, including Boeing, Lockheed-Martin and BAE SYSTEMS have used it.

Warrior has placed its first contracts for fuselage, wing tooling and other structural component development with Maine Composites, Inc. of Richmond, Maine. These components will then be shipped to the UK for final assembly by Warrior at the certification facilities of CMC Ltd, Salisbury, UK. The maiden flight of the Centaur will take place in Salisbury in the first quarter of next year. The Centaur will also be a prominent exhibitor at many aviation and marine trade shows throughout 2003.

James Labouchere, Managing Director of Warrior and the Centaur creator said, Centaur is now a go program thanks to these two awards and the faith of our private investors. This funding enables us to produce and demonstrate the prototype. We do need further funds to market the Centaur, the business opportunity, as well as to complete the Certification program.

Warrior (Aero-Marine) Ltd was incorporated in 1995. The Company is based in Salisbury, near the south coast of England, alongside several high-technology marine and aviation design and engineering resources. The sole objective of the Company is to market the Centaur six-seat amphibious seaplane. Warrior (Aero-Marine), Inc., a wholly-owned US subsidiary, located in Scarborough, Maine, was formed in 2000 for the purpose of advancing the Centaur in the North American market, which according to market studies, is the largest market for the aircraft. For additional information, log on to www.centaurseaplane.com.