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Oasis goes into liquidation

Hong Kong, 11 June 2008

The Provisional Liquidators of Oasis Hong Kong Airlines Limited, KPMG's Edward Middleton and Patrick Cowley, confirm that the High Court of the Hong Kong Special Administrative Region today ordered that Oasis be wound up. The Court was satisfied that Oasis is insolvent and it was in the best interest of Oasis and its creditors that Oasis be wound up. Oasis has liabilities in excess of HK$1 billion, including some 22,000 passenger claims expected to reach in the region of HK$250 million.

About KPMG

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About KPMG China

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For media enquiries, please contact:

Pearl Fan
Senior Manager, Markets Services
KPMG China
Tel: +852 2826 7111
e-Mail: pearl.fan@kpmg.com.hk

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