1. P R E S E N T S DESIGN / SUPERVISION / PROJECT MANAGEMENT / AVIATION SERVICES TRUE BLUE AIRLINES YEAR TWO EXPANSION

2. Who we are Inter InterIsland NAS NAS TRUE BLUE Core Team INVESTOR GFLI

3. The Parties TRUE BLUE - Author, Project Management & Operations GFLI – Proposed General Equipment Provider, (Aircraft, Engines & Spare Parts) Investor – Seed Capital Provider Inter Island – General Sales Agent and Curent AOC Partner in Philippines NAS - Proposed GSA & code share partner in KSA

4. Market Analysis Saudi Market High Cost of Air Fares and excess baggage charges 2 Million Filipinos Travel Agency’s Difficulty Huge Passenger Volume 50,000 Ave. Yearly OFW Deployment PALS’s Route Withdrawal

5. Why are we here? Carrier Shortage Lack of Filipino Carrier Alternative Fare Business Enterprise In the service to OFWs

6. Carrier Shortage Max. Weekly Passenger Output 8,000+ Passengers per Week ACTUAL PASSENGER VOLUME 6,300

7. SR 4,365 CATHAY Alternative Fare SR 3,950 SAUDIA SR 4,250 GULF AIR SR 3,800 TRUE BLUE Price Benchmarking for Y-Class Ticket RUH – CLRK Route

8. Start-up Strategy Marketing Personnel Training Aircraft & System Acquisition Management Formation Continuous 2 Months 15 Days 1 Month Full Operations

9. $ 5,559,151 $ 463,262 $ 1,389,787 Revenue Relative to Flight Frequency 1 Trip CycleCLRK-RUH-CLRK 4wksMonthly 3XWeekly Monthly Financial Statement @ 100% Load Factor

10. Gross Revenue Details Passenger Service: J – Class $ 0. Passenger Service: Y – Class $ 4,959,151 Cargo Services $ 0.6 M $ 5,559,151 Monthly Financial Statement @ 100% Load Factor

11. Forecast on Expenses Per Flight2-WayMonthly Staff: Salaries, Allow. Etc 12,50025,000300,000 Route: Ground Handling, Landing & Radio Fee, etc. 10,000  20,000  240,000 Fuel81,512171,1942,054,328 Operating Lease13,05426,109313,312 Catering11,30022,600271,200 Insurance2,0504,10049,200 Others5,00010,000120,000 TOTAL135,416279,0033,348,040

12. Financial Forecast ONE MONTH OPERATION (@100% Load Factor) Sales (Riyadh and Clark Flights) 5,559,151 Less (5.5% Gross ) TAX 305,753 Less Royalty (3%Gross) NAS 166,774 Less EXPENSES (1 Month Operations) 3,348,040 Net Monthly ProfitUSD 1,738,584

13. $ 1,738,584 NET PROFIT INVESTOR @ 60% of Monthly Net $1,043,150 TRUE BLUE @ 40% of Monthly Net $695,433 5% ROI Profit Sharing before ROI full recovery

14. Profit Sharing after ROI full recovery $ 1,738,584 NET PROFIT TRUE BLUE @ 60% of Monthly Net $1,043,150 INVESTOR @ 40% of Monthly Net $695,433

15. Initial Capitalization Figure Estimate as of: August 2011 in US Dollars Aircraft Security Deposit (1 months)313,312 Initial Inspection Team76,995 Aircraft Test Flight Operation Expense73,000 Flight Crew Training B747-400 type rating500,000 Airline Purchase (Inter Island Airways 100% company equity including AOC & facility) 2,500,000 Aircraft repositioning (fuel AZ, USA – MNL) crew allowance and livery 200,000 Start-up Expenses216,000 Four Months Full Operations Expenses13,258,896 Riyadh Office & Equipment12,064 Aircraft Maintenance Reserve4,049,733 Total Initial Capitalization (with unforeseens)USD 20,000,000