NetJets(R) Announces Comprehensive Climate Initiative

WOODBRIDGE, N.J.--(BUSINESS WIRE)--NetJets Inc. Chairman & CEO Richard T. Santulli today unveiled details of a multifaceted initiative to address the environmental impact of the company’s flights and other operations and strengthen its response to climate change and other environmental challenges.

Consistent with NetJets’ longstanding dedication to innovation, this new initiative tackles climate change in a variety of ways. Santulli outlined NetJets’ determination to make a significant difference: “We at NetJets, as individuals and as a company, are very concerned about the issue of climate change. We are committed to being responsible stewards of our environment and setting the bar for the private aviation industry. This is only the beginning of a long-term effort that will fully integrate environmental concerns into our everyday business model.”

In developing the initiative, the company retained the services of Esty Environmental Partners, a leader in corporate environmental strategy. Additionally, NetJets received helpful guidance from its recently-formed environmental advisory boards, as detailed further below.

The initiative, which will be expanded in the coming months, includes a focus on offsetting carbon emissions from NetJets’ flights, while at the same time it begins to reduce the carbon footprint of NetJets’ operations worldwide. It also includes a substantial investment in leading-edge technology research with the goal of creating an ultra-low emissions jet fuel.

The following core elements of the initiative are the results of a detailed environmental review process undertaken by NetJets beginning in early 2006:

1. Improving Energy Efficiency and Reducing Greenhouse Gas Emissions – NetJets US has established a goal of improving its energy efficiency, cutting waste, and reducing carbon emissions from its internal operations by 10% over the next two years. It has established Director of Environmental Management positions, reporting to the Office of the Chairman, in both the United States and Europe. These senior executives will manage, monitor, and report regularly on NetJets’ progress and any ongoing challenges, as well as helping to identify new opportunities to do more in the coming months and years.

2. Driving Technological Transformation – NetJets is investing in cutting-edge research to identify more environmentally-friendly aviation technologies through sponsoring The Next Generation Jet Fuel Project at Princeton University with the University of California, Davis to develop an ultra-low emission jet fuel.

3. Offsetting Unavoidable Impacts – NetJets is investing in a set of carefully-reviewed and closely-monitored carbon offset projects which will provide verified greenhouse gas reductions. These projects will allow the company to offset fully the carbon footprint of its internal operations. The offset portfolio will also be available to NetJets Owners so they can offset their flights. Additionally, Marquis Jet Partners will make the NetJets carbon offset portfolio available to Marquis Jet Card Owners.

4. Leveraging World Class Expertise – To ensure that NetJets is and remains a leader on climate issues, the company has established both U.S. and European advisory boards – each consisting of environmental experts who can help NetJets apply best-in-class practices and provide guidance to the company at every step along the way. The U.S. Advisory Board consists of: Fred Dryer, Professor of Mechanical and Aerospace Engineering at Princeton University; Ashok Gupta, Director of the Air and Energy Program at the Natural Resources Defense Council; Terry Tamminen, former Secretary of the California Environmental Protection Agency; Bonnie Reiss, Operating Advisor to Pegasus Capital and founder of the Earth Communications Office; and George Favaloro, Managing Partner at Esty Environmental Partners.

NetJets realizes that its responsibilities also extend to the communities in which it operates. With this in mind, it will build on these four areas of immediate commitment by launching a community-based Solar Schools Project. Beginning in California and drawing on Governor Arnold Schwarzenegger’s environmental leadership, this innovative public-private partnership will fund the placement of photovoltaic cells on school roofs – while in the process educating school children about environmental issues.

Schwarzenegger praised the NetJets initiative: “As a longtime customer of NetJets, I am proud of the company for stepping up to be a leader in fighting global warming. And to help them succeed in this bold and innovative effort, I have already signed up to purchase carbon credits for my own flying through the NetJets offset program.”

Santulli added: “From funding new technologies to carbon offsets to internal improvements, NetJets is dedicated to making a real difference now and in the years to come in helping address the challenges of climate change. We appreciate the Governor’s support and are confident that many others will join him as they learn more about our program and our determination to do even more over time.”

NetJets Inc., a Berkshire Hathaway company, provides the safest and most secure private aviation solutions in the world. NetJets fractional aircraft ownership allows individuals and companies to buy a share of a private business jet at a fraction of the cost of whole aircraft ownership, and guarantees availability 365 days a year with just a few hours’ notice. The NetJets programs worldwide offer the largest and most diversified fleet in private aviation, which includes 14 of the most popular business jets in the world. Access to the NetJets fleet is also available in the form of a short-term lease, sold on an all-inclusive, pre-paid basis in 25-hour increments, through an exclusive alliance with Marquis Jet Partners. NetJets Inc. also offers aircraft management, charter management, and on-demand charter services through its subsidiary, Executive Jet Management. More information on NetJets, the Marquis Jet Program, and Executive Jet Management is available at www.netjets.com.

The Gulfstream Large Cabin Fleet is operated by NetJets International and NJI. The BBJ is operated by NetJets Large Aircraft Company. All other aircraft offered by NetJets in the United States are operated by NetJets Aviation. Each of these operating companies is a wholly owned subsidiary of NetJets Inc. All aircraft offered by NetJets in Europe are operated by NetJets Transportes Aéreos, SA a Portuguese/EU Air Carrier. The Marquis Jet Card Program is operated by NetJets under its FAR Part 135 Air Carrier Certificate. NetJets has an affiliation with the provider of the NetJets Middle East Program.