News Release – December 16, 2005

SKYSHIP EMBARKS ON CARIBBEAN CRUISE

The Skycruiser Group (www.skycruisergroup.com) has embarked on a “cruise” of the Caribbean with its Skyship N610SK, a Skyship 600 type – the largest airships in the world, capable of seating up to 13 passengers and two flight crew.

The Skyship, operated by Airship Management Services, Inc. (AMS; website www.airshipman.com), departed her base in Elizabeth City, North Carolina, flew to Miami and then set off for the Bahamas and the Turks and Caicos Islands, stopping in Puerto Rico before arriving in Trinidad, as part of a “Training and Demonstration Exercise” in the region.

The Skycruiser Group, which includes AMS, Skyship Cruise Ltd., Skycruise Switzerland, Skycruiser Corporation and Global Skyship Industries (formerly Westinghouse Airship Industries), owns and operates a fleet of six Skyships in America and Europe. (Skyships have also been operated in Japan, Australia, Canada, Korea, Argentina, the Dominican Republic, the U.S., the U.K., Switzerland, France, Germany and Greece.)

While principally known in their advertising role for such clients as Fujifilm, Ameriquest, Pepsi-Cola, Japan Airlines and Citibank, they have now expanded their application into passenger tours – “Skycruises” – and security work, including over the Athens Olympics in 2004 and for the New York Police Department’s Counter Terrorism Division since 2002.

Skycruises have been conducted over Paris, London, Sydney, San Francisco and, most recently, over Lucerne and Zurich by Skycruise Switzerland (www.skycruise.ch). The group intends to expand its Skycruise concept to various sites around the world, and to expand its work in security surveillance work with larger manned - and unmanned - airships, particularly for port, coastal and general maritime security applications.

For further information visit our website at: www.skycruisergroup.com

or email: airship@airshipman.com

Airship Management Services, Inc.

2 Soundview Drive

Greenwich, CT 06830 USA

Tel: 1-203-625-0071

Fax: 1-203-625-0065

Email: airship@airshipman.com

Website: www.skycruisergroup.com