ORLANDO, Fla., NBAA, October 17, 2006 – Piper Aircraft, Inc. announced that it will expand into the jet market with the all-new PiperJet, a revolutionary new aircraft that will offer customers a class-setting combination of performance, style, utility, capability and pricing. In making the announcement here today at the National Business Aviation Association’s Annual Meeting and Convention, Piper revealed that the PiperJet’s clean sheet design incorporates single-engine turbofan power for optimum cost efficiency, state-of-the-art safety measures, and a strong, smooth all-metal body.

The PiperJet will be capable of reaching a cruising speed of 360 knots* and a maximum operating altitude of 35,000 feet. The six passenger PiperJet with an option for either a seventh seat or enclosable lavatory – offers a mission-capable profile and sensuous luxury that sets the standard in its class, with a range of 1,300 nautical miles* and a full-fuel payload of 800 lbs.

"The PiperJet breaks the mold in offering an unparalleled blend of performance and luxury," said Piper President & CEO James K. Bass. "In designing this revolutionary aircraft, we have assembled the finest team of engineers and designers and conducted an extensive consumer research effort to ensure that the PiperJet will be second to none. In effect, every measure has been taken to make sure that the PiperJet answers what our customers have told us they want and need in a jet, because at the end of the day, its not about being first to market, it’s about getting it right in the first place."

Built using state-of-the-art design and manufacturing processes, the PiperJet will feature the latest in integrated glass avionics, a luxurious interior and advanced manufacturing techniques pioneered by Piper. Priced from $2.199M (in 2006 USD with a CPI-W escalator), the PiperJet will provide unbeatable value while delivering Piper’s legendary uncompromising standards.

"The PiperJet will be certified in the Normal Category under FAA Part 23 and applicable foreign certification standards," said John Becker, Piper’s Vice President of Engineering. "It’s designed to be flown by a single pilot and will be RVSM Certified. Moreover, its innovative design includes ample baggage space and class-setting useful load. The PiperJet will be certified to a maximum operating altitude of 35,000 feet, well above the weather while combining performance with the latest safety technologies and features."

The PiperJet is designed with the owner in mind. "Whatever the mission – short trip, long trip, business or vacation – the PiperJet has the ability to get you there quickly and easily," said Bass. "With a full-fuel payload of 800 pounds*, the PiperJet can fly across the U.S. with only one stop for fuel, and it does it at a price that no competitor can beat without sacrificing passengers and cargo. In effect, value is just one more facet of PiperJet’s unequalled energy and beauty. It‘s this blend that makes the PiperJet an aircraft to be reckoned with."

With deliveries anticipated to begin in the first half of 2010, the PiperJet will provide the final word in comfort and luxury. Focusing on the latest in ergonomic automobile design, the PiperJet will provide passengers with an interior that synthesizes a sophisticated color palette with a spacious, energetic design. A wealth of features, from rich leather seats, deep zebra wood details and rich fabrics and trim to perfectly placed storage, cup holders and docking stations for personal electronics, the PiperJet is equally attentive to pilot and passenger comfort and needs, reduced workload and ease of operation.