Joint press release of Aerospace Innovation Investment GmbH and FACC International Company Limited

Wien/Hong Kong (OTS) - Aerospace Innovation Investment GmbH and
FACC International Company Limited are pleased to announce that with
effect as of March 1st, 2011 the supervisory board of Aerospace
Innovation Investment GmbH as well as the Board of Directors of FACC
International Company Limited unanimously agreed to appoint Mag. Dr.
Bernhard Matzner as Senior Vice President and CFO of both companies.
Dr. Matzner's appointment is consistent with such companies
objectives to enhance their professional financial expertise. With
more than 25 years of experience in financial management Dr. Matzner
brings a wealth of knowledge and experience in the finance sector to
Aerospace Innovation Investment GmbH and FACC International Co. Ltd,
including the experience as CFO of FACC AG in Ried, Austria as well
as the strategic knowledge about M&A transactions. Dr. Matzner, who
joined FACC AG in October 2006, led, in his role as CFO of FACC AG,
the acquisition process when Xi'an Aircraft Corporation, located in
Xi'an, PRC purchased FACC AG end of 2009.

Before joining FACC AG Mr. Matzner played a significant role in
the successful repositioning of several companies in Europe, America
and Asia. From 2005 to 2006 Mr. Matzner was chief financial officer
of Rodenstock GmbH in Munich, Germany, from 2004 to 2005 he provided
business and financial consulting services as interim manager to
austriamicrosystems AG, Graz, Austria and from 2002 to 2003 he was
CFO of Lambda Physik AG (now Coherent GmbH), a listed company located
in Göttingen, Germany. From 1999 to 2001 Mr. Matzner worked as CFO
of Q-Telecell Group in Berlin, Germany, and from 1993 to 1999 Mr.
Matzner served as chief group controller and general manager of
several subsidiaries of KRONE AG (now Tyco Electronics), Berlin,
Germany.

Ms. Minfen Gu appointed as new CFO of FACC AG

The supervisory board of FACC AG appointed Ms Minfen Gu as the
successor of Dr. Matzner with effect as of March 1st, 2011. She will
be responsible for the departments financial accounting and
controlling, treasury, risk management, insurance, IT and associated
companies.

Minfen Gu, 45, previously held various financial positions where
she gained a great deal of experiences abroad and a comprehensive
range of management knowledge. From 2007 to 2010, she worked as head
of controlling for the Asia Pacific region in the Business Unit
Performance Polymers of Evonik Degussa (China) Co., Ltd, with
location in Shanghai, China. From 2002 to 2007, Minfen Gu was key
accountant for RAG Service GmbH, Frankfurt/M., Germany (former:
department of financial services, Degussa AG, Frankfurt/M.),
providing various financial services to Degussa group companies. From
1999 to 2002, she worked as auditor with Ernst & Young AG,
Frankfurt/M., Germany (former: Arthur Andersen Audit and Tax
Consulting Co. Ltd. in Frankfurt). From 1988 to 1993, Minfen Gu
worked with the Foreign Economic and Trade Commission, Zhejiang,
China, as a managing project official in the department of foreign
economic affairs.

Minfen Gu received her bachelor's and master's degree from
Zhejiang University in 1985 and 1988. In 1999 she obtained a master's
degree in business administration from the Justus-Liebig University
Giessen, Germany.

About Aerospace Innovation Investment GmbH and FACC International
Company Limited

Aerospace Innovation Investment GmbH (AIIG) with its company seat
in ARES Tower, Donau-City-Street 11, A-1220 Vienna was established in
November 2009 to serve as Austrian holding company. In December 2009
AIIG, a 100% subsidiary of FACC International Company Limited with
its company seat in Hong Kong, acquired the majority of FACC AG.

FACC International Company Limited is majority owned by Xi'an
Aircraft Corporation, a subsidiary of the AVIC Group, which is the
largest state-owned conglomerate of the aerospace industry in China.

The key element of the strategy of Aerospace Innovation Investment
GmbH and FACC International Company Limited is to diversify their
business operations internationally into applications and growth
industries where FACC AG's proven composites materials technology and
expertise can be leveraged.

Rückfragehinweis:
Mr. MENG Jian
General Manager
Aerospace Innovation Investment GmbH
Tel: +43 (1) 908 1951 8801,
Email: mj@xac.com.cn

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