AVIANCATACA ISSUES SHARES FOR APPROX. $ 250 MILLION DOLLARS

After receiving approval from the Superintendencia Financiera de Colombia AviancaTaca Holding S.A. has registered preferred shares, without voting rights in the Colombian Stock Market (Registro Nacional de Valores y Emisores, RNVE). As a result, AviancaTaca will offer one hundred million of preferred shares.

· The Price per share is equivalent to USD 2.7 ($5.000 colombian pesos)

· The minimum investment amount is equivalent to USD 2.700 ($5.000.000 colombian pesos)

· The sale of the preferred shares will begin Monday March 28th and will end on Friday April 15th.

· The main drivers for the initial private offering for AviancaTaca Holding S.A. are the excellent results* obtained from the combined operation, as well as the potential growth for the integrated business.

· The proceeds from IPO will be used for corporate expansion plans of the holding company, as well as their subsidiaries.

Aviancataca is offering shares with preferred dividends and without voting rights for USD 250 million.

The offering process in the Colombian stock market will begin on Monday March 28th and end on Friday April 15th, active involvement from local and foreign investors is expected.

Fabio Villegas Ramirez, the CEO for AviancaTaca Holding S.A., has stated: “The initial private offering for AviancaTaca is a very important step in the history of the corporation. Since the official integration, in February 2010, we have been working non-stop in AviancaTaca to offer a superior service throughout the region. Currently, we have an excellent and broad products and service portfolio, one of the most modern fleets in the continent, multiple connection possibilities and a word class management team.

About AviancaTaca Holding S.A.
In February 2010, after finalizing the regulatory and antitrust approval phase required to complete the announcement made in October 2009, Synergy Aerospace Corp., majority investor in Avianca, and Kingsland Holding Limited, owner of the Grupo TACA, made the strategic official integration of their businesses, through a new company, AviancaTaca Holding S.A. which now exercises control over the combined operations.

Currently, Avianca and TACA offer access to a network of direct routes to more than 100 destinations in 25 countries, through 4 hubs located in Bogotá, Lima, San Salvador and San José. As of today, the company operates a fleet of 142 new generation aircraft.

Through codeshare agreements Avianca and TACA serve approximately 600 additional destinations, allowing a broader worldwide coverage, especially in North America and Europe. Additionally there are over 120 interline and frequent flyer agreements with seven international carriers.

The market share held by AviancaTACA in Colombia is 65%, while in Latin America is close to 50%.