"Dublin, Ireland 3 May 2002 - Pembroke Capital Limited, the international aircraft leasing group headquartered in Ireland, announced today the establishment of a Sydney-based subsidiary named Pembroke Aircraft Leasing Australia Pty Limited. Concurrent with its Australian launch, Pembroke announced that it has committed to supply QantasLink, a Qantas subsidiary, with six Boeing 717-200 aircraft with an asset value in excess of A$300 million on operating lease, three of which are already delivered.

Commenting on Pembroke's equity investment into Australia, Garry Burke, CEO of Pembroke Capital Limited, said "We have made an initial capital commitment to our Australian operation of in excess of A$100 million which is unequalled among our industry peer group. We do this at a time of great unrest in the global aviation industry but in confidence that Pembroke can contribute positively and in a material way to the development of regional markets across Australia."

The expansion of QantasLink's existing fleet of eight B717-200 aircraft to fourteen was commented on by QantasLink's General Manager, Bevan Coote. "We are enthusiastic about the B717-200 aircraft. The aircraft gives us an attractive blend of small size, customer comfort, attractive economics and environmental compatibility. We see the expansion of our B717 fleet as a critical element of the Impulse business plan to deliver to all city communities in Australia the benefits of a reliable, customer friendly and most importantly a very competitive airline service."