In a transaction that closed in mid-December, Pembroke acquired a Fokker 100 aircraft from MC Aircraft (Europe) Limited subject to a short lease to TAM, the Brazilian regional airline, expiring in mid-2001. The Company immediately extended the lease to TAM by approximately seven years. The acquisition, which was financed by Anglo Irish Bank Corporation plc, brings to 5 the number of owned Fokker 100s leased by Pembroke to TAM.