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(OTC Pink Sheets: PHCD) announces that Planet Airways anticipates an increase of 26% in DoD revenues in 2005 from $6,800,000 to $8,500,000 as a result of additional resources made available from the recent acquisition by PHC Holdings. Planet Airways, Inc. also released results today from its operations providing charter flights for United States military personnel during the fiscal year ended September 30, 2004. During this period, the Company achieved DoD generated revenues of $6.8 million, placing Planet Airways in the top five of all U.S. carriers operating domestic charter flights for the DoD. Planet's DoD revenues represent nearly ten percent of the $71 million in total revenues awarded by the DoD to all qualified U.S. carriers for domestic charters flown in fiscal year 2004. Planet Airways qualified as a DoD carrier in October of 2003 after successful completion of the DoD Commercial Air Carrier Quality and Safety Review. This comprehensive inspection and audit conducted by a DoD survey team and on behalf of the Department of the Air Force requires an air carrier to engage in quality programs and business practices that conform to the high standards of the U.S. military. The carrier must qualify in terms of operational experience as well as flight safety procedures, management experience, hiring and training practices, flight operations, maintenance, and even aircraft appearance. The initial on-site survey and audit conducted by DoD personnel is followed by additional surveys on a biannual basis thus assuring the air carrier maintains conformity to the substantial requirements of the DoD. "The fact that we achieved DoD approval is a testament to the quality and safety of our operations," said Planet Airway's Manager of Defense Contracts, Kelli Muleski. "And our strong first-year performance should help us expand into other areas of charter business being awarded by the U.S. Government." PHC Holdings is a publicly traded Business Development Corporation trading under the symbol "PHCD." Web site: http://www.phcholdings.com / Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance, development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports. SOURCE PHC Holdings
Contact Information: Kevin Quinn, PHC Holdings, +1-407-226-3043
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