PARIS, June 13, 1999 - Executive Jet, Inc. has announced its plans to purchase 100 Hawker Horizon business jets from Raytheon Aircraft for its NetJets® fractional aircraft ownership program. Executive Jet has placed an order for 50 Hawker Horizons, with options for 50 additional aircraft, a total value of $2 billion, including support. The contract is the largest business jet fleet transaction in Raytheon Aircraft's history. Executive Jet will accept delivery of its first Hawker Horizon in the year 2002. Executive Jet has purchased 56 Hawker 800XP mid-size cabin business jets for its NetJets fractional aircraft ownership programs in the U.S. and Europe. In addition, Executive Jet operates 26 Hawker 1000s in its NetJets program in the U.S.

Richard Santulli, the chairman and chief executive officer of Executive Jet, created the concept of fractional aircraft ownership in 1986 with the introduction of the NetJets fractional aircraft ownership program. Berkshire Hathaway Inc. and its chairman and chief executive officer Warren Buffett acquired Executive Jet in July 1998. Buffett has stated, "Santulli is a managerial artist and Executive Jet's NetJets program is potentially the fastest growing business segment of Berkshire Hathaway."

Santulli states that "We are committed to purchasing the best aircraft in the world. Our NetJets owners will appreciate the outstanding balance of range, speed and large cabin size that the Hawker Horizon will add to our fleet."

"We are extremely appreciative of Executive Jet's continued business and Richard Santulli's confidence in our company," said Art Wegner, chairman and CEO of Raytheon Aircraft. "Executive Jet's success is phenomenal and we are excited to be part of it."

In the last 3 1/2 years Executive Jet has ordered 587 new aircraft for their NetJets programs, almost 40% of the world's business jets, from Boeing, Cessna, Dassault Falcon, Gulfstream and Raytheon. These aircraft orders total $9.75 billion. Currently Executive Jet has 461 aircraft on order.

NetJets is a shared aircraft ownership program tailored to an individual's or company's needs, offering aircraft ownership at a fraction of the cost. Under the NetJets concept, an owner purchases a portion of a specific aircraft based on the number of actual flight hours needed and contracts with Executive Jet to manage the aircraft under its NetJets programs. NetJets owners are guaranteed availability, 24 hours a day, 365 days a year, with just a few hours advance notice. Fractional aircraft ownership offers all the convenience and tax benefits of owning a multi-million dollar business jet at a fraction of the cost. Executive Jet currently manages more than 226 aircraft worldwide. In 1999 Executive Jet will schedule and coordinate more than 150,000 flights for NetJets owners with flights to more than 90 countries.

NetJets programs are available in the U.S., Europe and the Middle East.