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Halcyon Jets Holdings Announces Management Appointments

New York, N.Y. August 18, 2008 – Halcyon Jets Holdings, Inc. (OTCBB: H JHO) (or “Halcyon”) announced today that it has appointed Craig Spitzer as Chairman and Gregory D. Cohen as Chief Executive Officer. The executives replace Mitchell Blatt, who resigned both positions to pursue other opportunities. Mr. Spitzer is an accomplished executive who was named Entrepreneur of the Year by Ernst & Young and is a Director. Mr. Cohen is the founder of Halcyon and a Director.

Mr. Spitzer co-founded privately-held consulting firm A2C in 2007 with the mission of assisting clients in achieving business objectives through the use of new and existing technologies. Prior to starting A2C, Mr. Spitzer founded Alliance Consulting in 1994. He drove the company’s growth to consecutive top 10 rankings – #3 and #7 – on the Inc. 500 list of fastest growing firms in 1999 and 2000, resulting in Ernst & Young naming him as its Entrepreneur of the Year in 2000. When Mr. Spitzer sold his consulting company to Safeguard Scientific in 2002, the firm had grown to 700 employees and over $100 million per year in sales. Mr. Spitzer holds a B.A in economics from the University of Pittsburgh.

“I have been observing Halcyon’s progress as a Director and am impressed by the strong franchise it has built in a short period of time,” said Mr. Spitzer. “As the new Chairman, I look forward to helping the management team build on its successes, which have resulted in significant revenue growth. I would also like to wish Mitch well in his future endeavors.”

Mr. Cohen founded Halcyon in 2007. Prior to founding Halcyon, Mr. Cohen was executive producer of several feature films, including two films in the National Lampoon series. He had a successful career for many years on Wall Street and has promoted and managed several World Champions in the sport of boxing. Mr. Cohen graduated from the George Washington University with a B.B.A. degree.

“I look forward to capitalizing on the numerous opportunities for growth,” said Mr. Cohen. “Halcyon has built a well-deserved reputation for providing discerning travelers with a unique luxury travel experience, and I look forward to leading the Company through its next phase of growth.”