Seabury Group - Investment Banking & Advisory Services

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New York, NY 10019
TEL: 212-475-8132
FAX: 212-284-1144

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Air Canada Retains Seabury Group

NEW YORK, April 2, 2003 - Seabury Group today announced that Air Canada has retained the investment bank/financial advisory firm to serve as principal restructuring advisor during its restructuring under the Companies' Creditors Arrangement Act (CCAA), which is similar to Chapter 11 of the U.S. bankruptcy code.

"We appreciate this opportunity to work with Air Canada and its creditors to assist the company as it reorganizes and restructures its balance sheet and cost structure," said John Luth, president and CEO of Seabury Group.

Seabury Group completed financial restructuring for US Airways, which emerged from bankruptcy protection on March 31, 2003, in less than eight months. Seabury also served as financial advisor to America West Airlines, Inc. in its out-of-court restructuring in 2002. Today, Seabury has the largest group of investment banking and restructuring professionals in the world dedicated to the aviation and broader transportation sectors.

Founded in 1995, the Seabury Group provides investment banking, financial advisory, restructuring and consulting services for business services, insurance, real estate, transportation, travel, and technology industries. Previous engagements include highly successful corporate restructuring assignments for Continental Airlines, Inc., M&A and financial advisory work for such investment funds as Texas Pacific Group LP and Blackstone Capital, and insurance advisory work for A.M. Best Company, Fortis and Kemper Insurance.

Seabury Group principals have structured over $75 billion in debt, equity, M&A transactions and strategic affiliations. Seabury's more than 60 professionals have a wide variety of senior executive expertise in structured lease and debt financing structures for transportation and real estate concerns, enterprise risk assessments, insurance, technology, airline fleet and network planning, airport advisory services and IT management information systems.