PRESS RELEASE

27 April 2005

debis AirFinance to be Acquired

New Strong Ownership Structure and Growth Prospects for Europe’s Largest Aircraft Operating Lessor

debis AirFinance, Europe’s largest aircraft leasing and asset management company, announced today that its current shareholders are in the process of selling the company to Cerberus Capital Management. Cerberus will acquire all the share capital and certain debt held by the current shareholders DaimlerChrysler, Bayern LB, Dresdner Bank, DZ BANK and HypoVereinsbank.

Terms of the agreement were not disclosed. The transaction remains subject to certain closing conditions and is expected to be completed within sixty days.

The current shareholders have been advised throughout the proposed transaction by Rothschild. Cerberus was advised by Lehman Brothers and IXIS Capital Markets.

Klaus Heinemann, Chief Executive Officer of debis AirFinance said: “Our new owner’s financial strength, coupled with debis’ strong operating platform and expertise in aircraft leasing and financing worldwide, positions debis for future growth. We look forward to pursuing this growth strategy in the improving market conditions and continuing the excellent cash flow performance of our portfolio.”

About debis AirFinance

debis AirFinance is one of the largest global lessors of commercial aircraft. Alongside the leasing and financing of aircraft, debis AirFinance provides a wide range of aircraft servicing, asset management and related services. These services are typically provided to airlines, securitisation vehicles and other investors in the airline industry.

debis AirFinance has a fleet of 141 modern aircraft. The portfolio is well-diversified across different aircraft types, regions and customer categories. debis AirFinance also has order positions for new Airbus A320 family aircraft.

In addition, the Company manages another 108 aircraft under full-service contracts for third party owners and provides financial and corporate services for 164 aircraft. debis AirFinance acts as servicer or administrator for leading aircraft securitisation vehicles (AerCo and Airplanes Group).

debis AirFinance is headquartered in Amsterdam and has offices in Shannon, Ireland, and Fort Lauderdale, Florida, USA. Worldwide, the company employs
113 people from more than 20 countries.

About Cerberus Capital Management

Headquartered in New York, Cerberus Capital Management, L.P. and its affiliated entities manage funds and accounts with capital in excess of US$15 billion.

Media contact debis AirFinance:

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