Security

Convenience

Freedom

Safety

Time

Productivity

Privacy Choices

Efficiency

Lifestyle

Comfort

Reliability Flexibility

Success

NetJets will change your life !

History of NetJets

Executive Jet, the original company was established in 1964 as the first private charter company in the world.

NetJets fractional aircraft ownership program was created in 1986.

Berkshire Hathaway purchased Executive Jet in 1998.

Our Corporate Structure

NetJets®, Inc.

NetJets®

U.S.Executive JetManagement

(Charter)

NetJets

EuropeNetJets

Middle East

What is Fractional Aircraft Ownership?

An undivided interest in a specific, serial numbered aircraft based on the number of hours you fly in a year.

How NetJets Works

Undivided Lien Free Interest Guaranteed Availability & Costs Liquid Investment,Guaranteed Buy Back Depreciable Asset, Tax Benefits

as Applicable Access to Entire Fleet

1/16 = 50 hrs

1/8 = 100 hrs

1/4 = 200 hrs

1/2 = 400 hrs  

800 Occupied Hours

What are the Costs?

Acquisition Cost. The one time purchase of the asset.

Acquisition Costs

Whole plane = 800 occupied hrs.

1/8 Share = 100 occupied hrs.

Whole plane = $8,000,0001/8 Share = $1,000,000

What are the Costs?

Acquisition Cost

• The one time purchase of the asset.

• Monthly Management Fee• Covers indirect operating costs (pilot salaries, training, hangaring, administration, etc.).

• Occupied Hourly Fee• Covers direct operating costs (fuel, maintenance, catering, landing fees, etc.).

NetJets Provides Guaranteed Availability

Our fleet of aircraft is blanketed across

the U.S., Europe and the Middle East. NetJets owned “core fleet.” Subcontract when necessary.

Charter vs. NetJets

Yearly flight time is less than 40-50 hours. Trips do not exceed more than 1-2 days. Need only one aircraft per day. Depart from and return to the same

location.

Full Ownership vs. NetJets

Yearly flight exceeds 400-500 hours, and... Fly most often from one location,

and... Require only one aircraft per day.

NetJets Advantages

Aircraft Choices International

Capabilities Guaranteed

Availability Experience Asset Value

Contract Renewal Financial Strength Most Favored

Nations Safety Security

NetJets Fleet* NetJets currently manages over

449 aircraft.

• 3 Citation SIIs• 5 Citation Bravos • 78 Citation V Ultras• 4 Citation Encore• 32 Citation Excels

• 17 Citation VII’s• 45 Hawker 800XPs• 27 Hawker 1000s• 55 Citation Xs

• 86 other

• 40 Falcon 2000s• 45 Gulfstream IV-SPs• 8 Gulfstream Vs• 7 Boeing Business Jets

• 562 more aircraft on order

Light cabin

Midsize cabin

Large cabin

*As of May, 2002.

Aircraft Choices

By year end 2002, we’ll manage over 540 aircraft.

12 different aircraft types in the U.S. 4 additional aircraft types have been

ordered. 5 different aircraft types in Europe. More aircraft to fit your travel profile. Greater interchange offerings.

NetJets Order Activity In the last 6 years, 1011 new aircraft

have been ordered for the NetJets program.

Total over $19 billion. Ordered:

• 23 Citation Bravos• 78 Citation V Ultras• 38 Citation Encores• 113 Citation Excels

• 17 Citation VIIs• 92 Hawker 800XPs• 81 Citation Xs• 100 Citation Sovereigns• 100 Hawker Horizons

• 100 Gulfstream 200s• 75 Falcon 2000s• 50 Falcon 2000EXs• 2 Falcon 900s• 68 Gulfstream IV-SPs• 45 Gulfstream Vs• 29 Boeing Business Jets

Light cabin

Midsize cabin Large cabin

Aircraft Choices

• Because we are not a manufacturer, we choose the world’s finest aircraft.

• Boeing, Cessna, Dassault Falcon, Gulfstream, Raytheon.

• Historically and factually, our aircraft offerings have the best residual values.

InternationalCapabilities

NetJets® Europe

NetJets® Middle East

NetJets™ Asia and NetJets™ South America are being developed.

All interchangeable

NetJets Flight Support Center

• Columbus, Ohio

• Lisbon, Portugal

• Jeddah, Saudi Arabia

Guaranteed Availability

24-hours a day, 7 days a week, 365 days a year. 3 Continents …Worldwide.

NetJets Experience

NetJets has provided business jet solutions for 38 years.

Invented private jet charter - we have flown the most hours.

Invented fractional ownership - we have the most years in the industry.

In 2002, NetJets will fly over 250,000 flights, 125,000,000 miles to over 140 countries.

Most Favored Nations

With NetJets every owner is treated equally.

• Warren Buffett pays... what Tiger Woods pays... what Kevin Russell pays...what GE pays.

Financial Strength

Berkshire Hathaway

NetJets Safety

All aircraft cockpits are identically outfitted. All aircraft are factory maintained. Our pilots fly one type of aircraft. All pilots are captains. 24-hour, on-staff meteorologists, dispatchers,

auditors, schedulers, etc.

Some of our owners include:

Andre Agassi America Online Bertlesmann AG Boeing Warren Buffett Chopard Dow Chemical France Telecom General Electric Georgio Armani Spa

Gillette Nokia Prudential Insurance Pete Sampras Arnold Schwarzenegger Skanska Annika Sorenstam Sun Microsystems United Technologies Tiger Woods

Security

Convenience

Freedom

Safety

Time

Productivity

Privacy Choices

Efficiency

Lifestyle

Comfort

Reliability Flexibility

Success