Holding in Company

Avation plc - Notification of interest

                                                       16 DECEMBER 2008

                                     AVATION PLC
                                   ("THE COMPANY")

                                 HOLDING IN COMPANY

Pursuant  to  the  FSA's  Disclosure and Transparency  Rules,  the  Board  of Avation  Plc  received
notification  on  15  December 2008 from UBS AG London Branch that it has an interest in 2,036,756
shares in the Company. The interest, which totals 7.96% of the issued voting shares of the Company,
are held on behalf of UBS Investment Bank.

       The directors take responsibility for the contents of this announcement.

                                      ---ENDS---

ENQUIRES:

AVATION PLC                             07783 942 553
Jeff Chatfield, Chairman

ADVISOR                                 020 7628 1128
Peter Freeman, Loeb Aron & Company

MEDIA                                   020 7562 3350
Maxine Barnes, Nick Rome
Bishopsgate Communications

Avation plc