Howard Millar Appointed Chief Operating Officer of Stellwagen Group & Chief Executive Officer of Stellwagen Capital

          STELLWAGEN CAPITAL TO LAUNCH INITIAL CAPITAL RAISE OF $1 BILLION IN Q4 2016

          The Board of Directors of Stellwagen Finance Company (the "Company"), the holding company of Dublin, Ireland based Aviation Finance Company and Seraph Aviation Management ("the Stellwagen Group") announced that Howard Millar has been appointed Chief Operating Officer ("COO") of the Stellwagen Group. Howard will also serve as Chief Executive Officer ("CEO") of Stellwagen Capital* a newly formed subsidiary of the Company.

          Howard Millar is the former Deputy Chief Executive and Chief Financial Officer of Ryanair Holdings plc, Europe's largest airline, with a market capitalisation of $21 billion, were he served in a number of senior roles over 23 years. Howard is currently a Non-Executive Director of Ryanair Holdings plc.

          Douglas Brennan, CEO of the Group, said:

          "I can think of no better person to lead our team of investment professionals than Howard Millar. He brings game changing ability to the group with 23 years' experience in aviation, including raising capital in the public and debt markets, using a range of financial products, while propelling Ryanair to become the largest and most profitable airline in Europe.

          "Howard will work closely with me as COO to drive the operating and financial performance of the Group. As CEO of our new subsidiary Stellwagen Capital, Howard will lead this innovative financing vehicle in raising capital from both the debt markets and from large institutional investors mainly, in Europe and the US. This capital will enable the Group to provide secured aircraft financing to airlines across the globe. This is a big step forward in the evolution of the Group and we expect Stellwagen Capital to launch its initial capital raise of $1 billion in Q4 2016."

          Commenting on his appointment Howard Millar, said:

          "I am delighted to join the Stellwagen Group and its team of leading aviation professionals. I am looking forward to my role as Group COO and I will focus on driving the business forward by further profitably growing each of our business units and making the Stellwagen Group a major force in global aviation finance.

          "As CEO of the newly formed Stellwagen Capital I believe there is a great opportunity to raise significant amounts of capital to finance the world's growing fleet of aircraft. The initial capital raise of $1 billion is slated for Q4 2016, and we expect to raise up to $5 billion over the next three years. We will use innovative and highly efficient structures to raise capital for secured financing of both new and delivered aircraft, and generate significant returns for our investors. The leveraging of my own and the Group's outstanding aircraft financing knowledge and experience will have a transformational impact on the industry".

          ABOUT STELLWAGEN GROUP

          The Group has a number of companies headquartered in Dublin in Ireland, Aviation Finance Company and Seraph Aviation Management.

          *STELLWAGEN CAPITAL LIMITED 

          Stellwagen Advisors Limited trading as Stellwagen Capital Limited ("StellCap")* is the exclusive credit investing arm of the Stellwagen Group, focused on credit-oriented investment strategies in industries in which the Group has exceptional operating and financial competence. StellCap draws on the Group's operating companies to deliver superior investment products to help institutional investors, banks and individuals invest in industrial fixed income strategies. StellCap currently specializes in aviation debt with key areas of focus that include senior secured loans, high yield instruments, and operating lease debt and stressed / distressed debt. The firm oversees investment companies that will deploy capital for banks, insurance companies, foundations, fund of hedge funds, and high net worth investors.

          ABOUT STELLWAGEN FINANCE COMPANY

          Stellwagen Finance Company ("SFC") is a holding company that owns a number of operating companies headquartered in Dublin Ireland: Aviation Finance Company, an aviation investment bank, Seraph Aviation Management, an aviation leasing and service company, Stellwagen Capital and Stellwagen Technology Group.