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In August 1999, MCP completed a convertible preferred equity
investment in Flight Options, a provider of a fractional jet
ownership program. Introduced during the mid-1980s, fractional
ownership allows corporations and individuals to purchase
shares of jet aircraft and enjoy the benefits of a private
jet without the costs or complexities of owning and operating
their own plane. By using pre-owned, completely refurbished
aircraft within its fractional program, Flight Options is
able to offer fractional jet ownership at a substantially
lower price than its competitors while providing comparable
levels of service, reliability and safety. Proceeds from our
investment were used to finance the rapid growth of the company.
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Date of Investment: August 1999