Attention Business Editors:

AeroMechanical Services Ltd. Receives First TFMI Contract with Major European Leisure Carrier
<<
AeroMechanical Services Ltd. TSX-V Trading Symbol "AMA"
A Tier 2 Industrial Issuer
>>

CALGARY, Nov. 24 /CNW/ - AeroMechanical Services Ltd. ("AMA") is pleased
to announce we have received a contractual agreement from a significant
European based leisure carrier to execute the first phase of our recently
announced Total Fuel Information Management (TFMI) program. This phase
includes an evaluation of the operations of the carrier by our team of
international experts. They will produce a roadmap for the customer which will
show potential areas of savings and set benchmarks that can be measured by our
new FIRST product. The FIRST product was announced on October 23, 2008.
We are pleased that the business for our TFMI program has commenced. We
see this as the start of a very busy time assisting our customers who are
managing the new realities of global economic and environmental scenarios.
The work is being conducted on a time and materials basis at industry
standard rates and will be completed within 3 weeks. The value of this
agreement will be determined based on the results of the evaluation being
undertaken.

This disclosure as it relates to this agreement is subject to the
following disclaimer:

When a contract is initially signed, the intended number of aircraft,
pricing and potential installation schedules is agreed to by the parties. The
actual installation schedules as well as the number and types of aircraft are
often revised throughout the term of the agreement as the airline realigns its
fleet of aircraft with its business requirements. Delays in installations can
and do occur which can affect the total value of the contracts such that the
revenues noted above may not be fully achieved. Fulfillment of the contract
terms may also be affected if there are any changes to government statutes,
regulations or rules of the applicable governing bodies. The contract terms
and values disclosed herein are based on the original information available to
AMA upon execution of the contract and are subject to change. For the actual
revenue earned, please see AMA's financial statements including its revenue
recognition policy disclosed within the notes to the Audited Annual Financial
Statements.

About AeroMechanical Services Ltd.

AeroMechanical Services Ltd. provides proprietary technological solutions
and services designed to reduce costs and improve efficiencies in the airline
industry. The company has successfully commercialized three products and
associated services currently marketed to airlines, manufacturers and
maintenance organizations around the world. Its premier technology, afirs(TM)
UpTime(TM), allows airlines to monitor and manage aircraft operations
anywhere, anytime, in real-time.

<<
afirs, UpTime, FLYHT and aeroQ are Trade Marks of AeroMechanical
Services Ltd.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
>>

%SEDAR: 00016486E

For further information: on AMA contact: Tom French, CFO, AeroMechanical
Services Ltd, (403) 291-7427, tfrench@amscanada.com, www.amscanada.com; Bob
Beaty, The Howard Group Inc., Toll Free: 1-888-221-0915,
Info@howardgroupinc.com, www.howardgroupinc.com

http://www.newswire.ca/en/releases/a...