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Contact:	Kimberly Lorentzen
		541/923-2233


LANCAIR KIT COMPANY FOUNDER ANNOUNCES CORPORATION SALE


Today, founder and president, Lance Neibauer announced the sale of his kit company to Joseph C. Bartels, a previous Lancair IV-P customer.  Lance began Neico Aviation and subsequently, Lancair International beginning in 1985.  The companies have grown to a leadership position in the kit aircraft industry and have pioneered the use of advanced composite technologies in that market.  According to Lance: "Over the past few years I've been totally consumed with efforts at the completely independent Lancair certified production company and have not been able to give the kit company the attention it deserved."  "When Joe approached me with an offer to buy the kit company, I began to consider the many benefits to the company and our staff that such a sale could produce".
Joseph C. Bartels, an attorney from New Orleans, first became involved with Lancair in December 1992 when he took delivery of a Lancair IV-P kit.  Since then he and a partner formed Aero Cool, LLC, a company that provides air-conditioning units for the Lancair IVs, now sold exclusively through Kit Components, Inc.  Joe holds a private pilot certificate with instrument rating as well as an A & P rating. He has accumulated over 1400 flight hours, 325 of which have been in Lancair IV's.  Over the last 5 years, Joe has played an increasingly active role in the company by sponsoring a customer appreciation crawfish boil at the Sun 'N Fun Fly-In. 
"I strongly believe that Joe will bring tremendous business expertise and enthusiasm to the company and help it grow to the next higher level.  My primary concern in this deal has always been to do what would be best for the company and it's loyal staff that have become so much like family", said Neibauer.  
Mr. Bartels has assured all that there will be no changes in staff or any move from the Company's present location.  He further invites Lancair customers, past, present or prospective, to call upon him with any recommendations they may have to make buying and owning a Lancair a more enjoyable experience.    Lance Neibauer will remain a spokesman for the company and will also be readily available for design and consulting efforts on any and all new products that bear his name.  "I have no shortage of ideas for the kit company and it's future product line, now I can focus on just that", said Lance.	
 	Founded in 1984 by Lance Neibauer, Lancair has become one of the most successful kit aircraft manufacturers in the world.  The company manufactures the fastest piston-driven aircraft in the world, holds several world speed records, claimed the gold medal at the 1998 and 1999 Reno Air Races and continues to accumulate championships in most major cross-country air races.  Lancair, Inc., Neico Aviation and Lancair International are not affiliated with The Lancair Company.
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