REG-Pegasus Helicopter Group PLC: Final Results

Pegasus Helicopter Group PLC

("Pegasus" or "the Company")

FINAL RESULTS FOR THE 12 MONTH PERIOD ENDED 31 DECEMBER 2008

Pegasus Helicopter Group PLC (PLUS: PEGP), the specialist helicopter company,
today announces its audited results for the twelve months ended 31 December
2008.

CHAIRMAN'S STATEMENT

It gives me great pleasure to report to Shareholders the Company's audited
results for the period ended 31st December, 2008.

Following my half year interim statement, I am pleased to report that in the
second half of the year, the Company continued making good progress in
promoting its unique pressure jet technology for helicopter applications around
the world. In August, the Company announced that it had signed Letters of
Intent with distributors in Brazil, Russia, the Commonwealth of Independent
States and China. Post-period, the Company signed an additional Letter of
Intent with a fourth distributor in Taiwan for an additional 100 helicopters.
To date, Pegasus now has agreements in place to distribute a total of 655
PH200PJs.

The Company continues to require significant funding in order to implement the
Letters of Intent.

The Company has also taken significant steps towards securing a manufacturing
agreement for the PH200PJ. In October, Pegasus announced that it had signed an
exclusive manufacturing agreement with Dallas, Texas based Ranger Aerospace.
Since then, Ranger Aerospace has changed its name to Ranger Rotorcraft Group.
Under the terms of the agreement, it is expected that Ranger Rotorcraft will be
the exclusive manufacturer of the Company's demonstration units, as well as kit
and fully assembled and certified Pegasus pressure jet helicopters.

As briefly mentioned in my interim statement which was released on 29 September
2008, the Company has been evaluating various manufacturing options in the UK
as well. Pegasus has had several discussions with the IBW (International
Business Wales), formerly called the WDA (Welsh Development Agency), relative
to various manufacturing sites in Wales where incentives for hiring people and
investment in property plant and equipment would be most beneficial.
Post-period, the Company is continuing to explore the possibility of
manufacturing helicopters for the UK, EU and Middle East markets from a site in
Wales.

As referenced post period in the announcement released to PLUS on 29 May 2009,
the Company is in the process of negotiating a $2,000,000 loan facility with
African Investment Fund Capital ("AIF"). AIF is in the process of conducting
due diligence and the Company will keep Shareholders informed as to its
progress. These negotiations may or may not lead to the completion of the loan
facility in full or at all.

Where possible, the business has continued to control costs in this pre-revenue
period. As a result, losses for the period were £709,016.

In conclusion, I would like to take this opportunity to thank Pegasus'
Directors, advisors and Shareholders for their continued support in these
challenging marketing conditions.

Robert Zummo

Executive Chairman

26 June 2009

--END--

The Consolidated Profit and Loss Account for the Period Ended 31 December 2008

£

TURNOVER -

Administrative expenses 687,805

OPERATING LOSS (687,805)

Interest payable and similar charges 21,211

LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION (709,016)

Tax on loss on ordinary activities -

LOSS FOR THE FINANCIAL PERIOD AFTER TAXATION (709,016)

Earnings per share expressed in pence per share (0.35)p

CONTINUING OPERATIONS

None of the group's activities were acquired or discontinued during the current
period.

TOTAL RECOGNISED GAINS AND LOSSES

The group has no recognised gains or losses other than the loss for the current
period.

The Consolidated Balance Sheet for the Period Ended 31 December 2008

£ £

FIXED ASSETS

Intangible assets 4,843,998

Tangible assets 124,205

Investments -

__________

4,968,203

CURRENT ASSETS

Debtors 4,471

CREDITORS

Amounts falling due within one year 514,572

NET CURRENT LIABILITIES (510,101)

TOTAL ASSETS LESS CURRENT LIABILITIES 4,458,102

CAPITAL AND RESERVES

Called up share capital 2,000,000

Merger Reserve 2,972,674

Profit and loss account (514,572)

SHAREHOLDERS' FUNDS 4,458,102

No dividend will be payable in respect of the period ended 31 December 2008.

The above results have been extracted from the respective audited accounts for
the period ended 31 December 2008.

The financial statements were approved by the Board of Directors on
23 June 2009 and were signed on its behalf by: C J Drewitt, R A Zummo and C
Vehlow.

About Pegasus Helicopter Group Plc

Pegasus Helicopter Group plc is the holding company for Pegasus Helicopters
Holdings Limited and its wholly owned subsidiary, Pegasus Helicopter, Inc. The
Company plans to manufacture market and sell the PH200PJ Helicopter, a two-seat
helicopter that uses pressure jet technology. It is the Director's intention to
market the Company's product to civilian, commercial and military markets
worldwide, the Directors believing that demand for the PH200PJ Helicopter will
be driven by its safety, low unit cost, low operating costs, simplicity and
ease of flying.

Pegasus's experienced Board of Directors includes Charles Vehlow, who has over
25 years of experience with large helicopter engineering companies having held
executive positions at both McDonnell Douglas Corporation and the Boeing
Helicopter Division. He is also a West Point graduate and currently sits on the
Army Science Board at the Pentagon. Pegasus's CEO is Robert Zummo who has over
40 years of experience in the aerospace, defence and automotive industries. Its
Advisory Board includes former executives of The Boeing Company, the McDonnell
Douglas Corporation and MD Helicopters Inc.

Contact Details:

Pegasus Helicopter Group Plc

Robert Zummo +1 571 276 1067

GTH Media Relations

Toby Hall 020 7153 8039

Brooke Paul 020 7153 8035

Atlantic Law Llp 020 7616 2888

Andrew L. Greystoke

The Directors of Pegasus Helicopter Group Plc accept responsibility for this
announcement.

Atlantic Law Llp is PLUS Corporate Advisors to Pegasus.

END