The Howard Group

News Release December 16 , 2008
AeroMechanical Services Ltd. (TSX-V -AMA)

AeroMechanical Services Ltd. announces issuance of stock options

12:00 EST Tuesday, December 16, 2008

AeroMechanical Services Ltd.                 
TSX-V Trading Symbol "AMA"      
A Tier 2 Industrial Issuer   
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY , Dec. 16 /CNW/ - AeroMechanical Services Ltd. ("AMA") announced today that AMA, under the formal stock option plan approved at the Annual General and Special Meeting held on May 22, 2008 , has granted an aggregate of 700,000 incentive stock options in recognition of superior performance to non-officer employees of AMA based upon years of service to the Corporation subject to regulatory approval.

The board of directors feel that the options granted at the current depressed share price, due to market conditions, would provide incentive to the employees to continue to build superior products, provide excellent service to AMA's growing customer base and recognize the contribution they have made to shareholders over the past years. The directors and officers want to take this opportunity to thank the dedicated staff who have made this possible.

Terms include an exercise price of $0.20 per share, vesting of all of the options occurring immediately and 1/3 of the total options granted expiring equally at the end of each year on December 31 of 2009, 2010 and 2011. A maximum of 10% of the issued shares are reserved for the issuance of AMA's Stock Option Policy. The options are subject to a four month hold period expiring April 15, 2009 .

About AeroMechanical Services Ltd.

AeroMechanical Services Ltd. provides proprietary technological solutions and services designed to reduce costs and improve efficiencies in the airline industry. The company has successfully patented and commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, afirs(TM) UpTime(TM), allows airlines to monitor and manage aircraft operations anywhere, anytime, in real-time.

 

For further information contact:

AeroMechanical Services
The Howard Group Inc.

Tom French, CFO
AeroMechanical Services Ltd
(403) 291-7427
tfrench@amscanada.com

 

Bob Beaty
The Howard Group Inc.
Toll Free: 1-888-221-0915
Phone: (403) 221-0915
Info@howardgroupinc.com
www.howardgroupinc.com

 

afirs, UpTime, FLYHT and aeroQ 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.

Not for Distribution to United States Newswire Services or for Dissemination in the United States.