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          VIRGIN NIGERIA IS NOW AIR NIGERIA

Lagos, Nigeria: 02 July 2010: Virgin Nigeria Airways has finally changed her name to AIR NIGERIA DEVELOPMENT LIMITED and the airline is now to be known as AIR NIGERIA.

The name change according to the Chairman of the airline; Barrister Jimoh Ibrahim was effected sequel to the Board resolution on the 14th May 2010. This was disclosed to journalists in Lagos on Wednesday 2 June 2010 at a Press briefing. The new name has already been approved by the Corporate Affairs Commission and had been registered with certificate number RC 501975.

Barrister Ibrahim said the change of name became necessary in order to make the airline fully indigenous. He said everything about the airline would reflect the Nigerian culture with integrity show casing that we as a nation can do it.

Barrister Ibrahim said the first branded aircraft in the new name will arrive Nigeria before the end of next week from Shannon Ireland while the remaining aircraft will follow suit and the commencement of the branding from the old name Virgin will be concluded in record time.

He expressed full appreciation to the Nigerian people for their continuous patronage and their understanding, promising that AIR NIGERIA will definitely make Nigeria proud. He assured the general public that the on-going turnaround would be concluded within a short time never recorded in history. By October 1st 2010, a minimum of ten (10) aircrafts will be in the airline's fleet. He assured the staff of Air Nigeria that the good days are here.

According to him; "As we increase the number of air fleet, job security is guaranteed as more people will be required to run the airline". While handling over the new certificate of incorporation to the Chief Executive Officer, Air Nigeria, Barrister Ibrahim insisted that our company will be built on enduring timeless principles of loyalty, and customer confidence will be earned through the establishment's commitment to service delivery. He reiterated that the company should work towards ensuring that all partners from customers to shareholders earn loyalty of the company. He advised the management to always embrace the high road to financial success as opposed to the low road impressive balance sheet which always leads to a short-end.

He said the current focus of the turnaround is to address financial distress before focusing on human resources re-engineering. He thanked the management of Mr Kinfe and assured them that the worst times are over; he said corporate surgery was very much unlikely in the case of Air Nigeria.

He said the turnaround will be limited to financial areas and not engineering department which he described as first class.