AeroMechanical Services Ltd. Announces Private Placements

Calgary 05/15/2007 – AeroMechanical Services Ltd. (TSX.V:AMA) (“AMS”) is pleased to announce the terms of the proposed non-brokered private placement.   A total of up to $3,000,000 is being raised under 2 private placements: up to 5,000,000 common shares are to be issued at a price of $0.40 per share, for aggregate consideration of up to $2,000,000 and up to 1,666,667 shares to be issued at $0.60  (to reflect recent market changes) for aggregate consideration of $1,000,000.  A finder’s fee of not more than 3% (up to an aggregate $90,000) may be paid for this transaction to Pacific International Securities Inc. and Boulder Investment Partners, Ltd. of Vancouver, British Columbia. The proceeds will be used to build inventory and continue marketing and sales efforts and to increase AMS’ working capital.  The shares under both private placements are to be sold to a group of high net worth individuals and qualified buyers led by Northern Rivers Capital Management’s Northern Rivers Innovation Fund.  All of the common shares issued pursuant to both of the private placements are subject to a 4-month hold period. Completion of both private placements is subject to the final approval of the TSX Venture Exchange.

About AeroMechanical Services Ltd. http://www.amscanada.com/

AeroMechanical Services Ltd. (AMA:TSX.V) provides proprietary technologies and services designed to reduce costs and improve efficiencies in the airline industry. The company has successfully commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology Automated Flight Information Reporting System (AFIRS™) and UpTime™ allows airlines to monitor and manage aircraft operations in real time, all the time, anywhere on the planet.

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AFIRS, UpTime, AeroQ and Smart Box are Trade Marks of AeroMechanical Services Ltd.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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