PRESS RELEASE

7 February 2005

debis AirFinance Closes Co-Investment and Servicer Contract for Widebody Airbus A340

debis AirFinance, one of the world's largest aircraft leasing and asset management companies, announced today that it has closed the purchase of an Airbus A340-300 aircraft as co-investor with Deucalion Capital I Limited which is co-funded by DVB Bank and Investec Bank (UK) Limited. The aircraft, built in 2000, was purchased from Flightlease, another leasing company, and continues to be leased to Sri Lankan Airlines, the flag carrier of Sri Lanka.

Cabot Aviation acted as the exclusive remarketing agent for Stephen Akers and Nick Wood of Grant Thornton International LLP, the Liquidators of the Flightlease Group.

debis AirFinance will also act as the exclusive servicer for the aircraft, providing asset and lease management for the aircraft and remarketing services at the end of the current lease term.

Heinrich Loechteken, Chief Financial Officer of debis AirFinance commented: “We are currently at the right point of the industry cycle for buying aircraft. The A340 has an excellent specification and is leased to a high credit customer, two very important factors when purchasing lease aircraft. Additionally, this transaction represents an ideal combination of co-investment and servicer role for debis AirFinance.”

About debis AirFinance

debis AirFinance provides aircraft leasing to airlines and asset management services to third parties such as investors and banks. The company has a total owned and managed fleet of over 250 jets and turboprops (Boeing / MDC, Airbus, Fokker, Dornier, ATR, DHC). debis AirFinance, headquartered at Amsterdam's Schiphol Airport, has a worldwide presence with offices in Shannon, Ireland and Fort Lauderdale, Florida/United States.

About DVB Bank

DVB Bank AG, based in Frankfurt/Main, is an international advisory bank and finance house which specialises in the global transport market. DVB offers integrated financing solutions and advisory services in respect of Shipping, Aviation, Land Transport and Transport Infrastructure. The Bank has offices in Frankfurt/Main, Hamburg, London, New York, Rotterdam, Hong Kong, Singapore, Tokyo, Bergen, Piraeus and Curaçao.

About Investec Bank

Investec is an international specialist banking group that provides a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia as well as certain other countries. Its five principal areas of business are Investment Banking, Treasury and Specialised Finance, Private Client Activities, Asset Management and Property Asset Management. Investec became the first South African banking group to list in both London and Johannesburg by implementing a Dual Listed Companies structure in July 2002.

For further information on debis AirFinance please contact:

Frauke Oberdieck
Corporate Communications
debis AirFinance	Evert van de Beekstraat 312
Tel.: +31 20 655 9616	1118 CX Schiphol Airport Amsterdam
Fax: +31 20 655 9100	The Netherlands
Email: foberdieck@debisairfinance.com	www.debisairfinance.com