April 5, 2002

INTERNATIONAL COOPERATION WINS AEROS A ROLE IN THE COMMUNICATION PLATFORM OF THE FUTURE

Worldwide Aeros is pleased to announce that it has won the bid to fabricate and supply a 50-meter airship to the Korea Aerospace Research Institute. Under the agreement, Aeros will also provide ongoing technical assistance to support the development of the stratospheric airship program.

Working as an autonomous arm of the South Korean Government, the Aerospace Institute is charged with the advancement of aircraft development and space projects for South Korea. The 50 meter craft is the first stage of a four year program to develop stratospheric airships that will float in a geo-stationary position 65,000 feet above the earth, carrying payloads that will include, wireless communication antennas as well as mapping and surveillance equipment. The preliminary design review was completed in early March and envelope production will begin in April 2002. Worldwide Aeros is a leading researcher, designer and manufacturer of airships and aerostats for a wide variety of uses. The Company has successfully completed FAA and German (LBA) certifications for the Aeros model 40B “Sky Dragon” airship. Aeros’ past experience and superior technical know how were recognized as the main factors for winning the competition.