UITA Utilicraft Aerospace Industries Inc (CE)

Officials of Freight Feeder Aircraft Corporation (a U.S. private corporation 25% owned by Utilicraft Aerospace Industries, Inc. OTCBB: UITA) reported today that due to the recent news concerning U.S. and International rising aviation fuel prices (See article: Rising Jet Fuel Bills Take Their Toll on Carriers . . . - www.aircargoworld.com), the FF5000 Freight Feeder Aircraft has been intentionally engineered to be more fuel efficient than current aircraft in the short to medium range market. �The FF5000 has a larger and more efficient useful-load/cargo-bay-volume to gross weight percentage of 53% as compared to an average of 35% carried by the existing turboprop fleet,� stated John J. Dupont, President and CEO of Freight Feeder Aircraft Corporation. Mr. Dupont went on to say, �This designed-in-efficiency causes the FF5000 to be 44% more fuel efficient for each pound of revenue freight enplaned -- which has been the focus of our design from the start -- and is basically what the FF5000 'mission specific' design is all about.� It is estimated that the current turboprop world feeder fleet, that is operating today, is burning an estimated 383 million gallons per year. If the current older aircraft fleet was to be replaced by the new FF5000, the total gallons per year consumed would be reduced by 44%, saving 213 million gallons per year of aviation fuel. The World Air Cargo forecast is projected to grow at a rate of 6.1% a year through 2025, which will require a substantial increase in feeder aircraft operations. On an annual basis this equates to a reduction of 1.27 Billion gallons in fuel consumed per year when using new mission specific freight feeder aircraft -- like the FF5000. About Freight Feeder Aircraft Corporation Freight Feeder Aircraft Corporation is a U.S. private corporation registered in the State of Wyoming. In December 2007, Freight Feeder Aircraft Corporation acquired the Freight Feeder aircraft technology and development program form Utilicraft Aerospace Industries, Inc., (OTCBB: UITA) which included the aircraft design, related intellectual property, patents, and developed hardware and software including a mockup aircraft, and fuselage tooling -- with the intention of completing the development of the aircraft project, and to bring the Freight Feeder aircraft into commercial production for global sales into the freight aircraft market. The Freight Feeder aircraft - now designated the FF5000 by the Company -- is specifically designed to address a niche segment of the global air freight market, specifically the need for a new and updated state-of-the-art effective containerized freight feed air transportation system requiring the development and implementation of a new regional-sized-container-capable turboprop-aircraft, specifically designed to economically transport containerized/palletized air shipments to and from regional manufacturing and freight distribution facilities (located in smaller communities) to and from the major international hub airports -- world-wide. On December 12, 2007, Utilicraft Aerospace Industries, Inc., filed a Form 8K with the Securities and Exchange Commission; (See details of the transaction in the UITA 8K filed on December 12, 2007) For more information on Freight Feeder Aircraft Corporation, please visit: www.freightfeeder.com About Utilicraft Aerospace Industries, Inc (OTCBB:UITA) Utilicraft Aerospace Industries, Inc. is a 25% owner of Freight Feeder Aircraft Corporation. Since the strategic sale of its Freight Feeder aircraft technology in December of 2007 to Freight Feeder Aircraft Corporation, the Company is now focusing its 2008 business-plan development efforts to actively seeking new strategic aerospace products for development, particularly related to the enhancement of the Freight Feeder aircraft in the air-cargo markets worldwide -- to continue to build the asset base, to develop cash-flow, and to continue to build shareholder value. On December 12, 2007, Utilicraft Aerospace Industries, Inc., filed a Form 8K with the Securities and Exchange Commission announcing that with the approval of fifteen (15) UITA shareholders owning approximately 62.53% of UITA�s common stock and its Board of Directors, entered into an Asset Purchase Agreement with Freight Feeder Aircraft Corporation to sell all of UITA�s technology and assets to Freight Feeder Aircraft Corporation for a 25% equity position in Freight Feeder Aircraft and warrants for shares of Freight Feeder Aircraft Corporation�s common stock, and a 1% Royalty of aircraft sales that are eventually produced and delivered by Freight Feeder Aircraft Corporation. The transaction has a potential value to UITA of approximately $400 million in future royalties and future Freight Feeder Aircraft Corporation stock value received by UITA in this transaction -- subject to the Freight Feeder aircraft program reaching the production phase. (See details of the transaction in the UITA 8K filed on December 12, 2007) For more on Utilicraft Aerospace Industries, Inc, please visit: www.utilicraft.com Forward Looking Statements This press release contains �forward-looking� statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release involve risks and uncertainties and reflect the company�s current views with respect to possible future events. Readers are cautioned that no forward-looking statement can be guaranteed and actual results or events may materially differ from those projected or anticipated. In particular, the following factors, among others, could cause actual results or events to differ materially from those described in the forward-looking statements: the company�s ability to obtain and fulfill contracts for the sale of products, protect intellectual property rights and manage future growth; market acceptance of future products; product supplier delays; design and engineering certification delays or denials; and the introduction of similar products by competitors. Any forward-looking statement made in this press release is made as of the date of this press release, and the company assumes no obligation to update any such forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect the company�s business. For more information on Freight Feeder Aircraft Corporation, please visit: www.freightfeeder.com