BOMBARDIER

BOMBARDIER March 16, 2005 Mr. Jeffrey Epstein President Hyperion Air, Inc. 457 Madison Avenue New York, NY 10022 Dear Mr. Epstein: Douglas B. Smith Sales Director BOMBARDIER BUSINESS AIRCRAFT 2008 Eliza Dorsey Lane Ellicott City, MD, USA 21042 Telephone: 1410) 465-6358 Mobile: 1443) 472-3804 Facsimile: 1410) 465-4968 Email: http://www.businessaircraft.bom bardier.com Following your communications with Pierre Beaudoin, enclosed is our proposal for the next available Global Express XRS. Enclosed with the proposal is a selection product information describing the XRS, including a definition of the "LE" ("Limited Edition") completion specification suggested with this proposal. Lead-times for ordering completion materials are quite long, however, we still have a few months remaining to tailor the completion of this particular aircraft to your expectations. I will follow-up on Friday the 181h. In the meantime, please contact me if I may provide additional information or respond to any questions. Thank you for the opportunity. Sincerely, Douglas H. Smith Sales Director Challenger & Global Enc. EFTA00577399