09:45 EST Monday, November 24, 2008

AeroMechanical Services Ltd.                 
TSX-V Trading Symbol "AMA"      
A Tier 2 Industrial Issuer   

CALGARY , Nov. 24 /CNW/ - AeroMechanical Services Ltd. ("AMA") is pleased to announce we have received a contractual agreement from a significant European based leisure carrier to execute the first phase of our recently announced Total Fuel Information Management (TFMI) program. This phase includes an evaluation of the operations of the carrier by our team of international experts. They will produce a roadmap for the customer which will show potential areas of savings and set benchmarks that can be measured by our new FIRST product. The FIRST product was announced on October 23, 2008 .

We are pleased that the business for our TFMI program has commenced. We see this as the start of a very busy time assisting our customers who are managing the new realities of global economic and environmental scenarios.

The work is being conducted on a time and materials basis at industry standard rates and will be completed within 3 weeks. The value of this agreement will be determined based on the results of the evaluation being undertaken.

This disclosure as it relates to this agreement is subject to the following disclaimer:

When a contract is initially signed, the intended number of aircraft, pricing and potential installation schedules is agreed to by the parties. The actual installation schedules as well as the number and types of aircraft are often revised throughout the term of the agreement as the airline realigns its fleet of aircraft with its business requirements. Delays in installations can and do occur which can affect the total value of the contracts such that the revenues noted above may not be fully achieved. Fulfillment of the contract terms may also be affected if there are any changes to government statutes, regulations or rules of the applicable governing bodies. The contract terms and values disclosed herein are based on the original information available to AMA upon execution of the contract and are subject to change. For the actual revenue earned, please see AMA's financial statements including its revenue recognition policy disclosed within the notes to the Audited Annual Financial Statements.